Nationwide Peak 10 (Most States)
A subsidiary of Nationwide Mutual, Nationwide Life Insurance Company was founded in 1929. They have become experts in offering financial solutions by providing a diverse range of products, including life insurance, annuities, retirement plans, and mutual funds. This variety of offerings has enabled them to give customers flexibility in choice optimization to better secure their financial futures. For almost a century, the company has shown a dedication to innovative strategies and customer service, continuously developing new products and features to meet the ever-evolving needs of its clients. Interestingly enough, Nationwide Life has actually transitioned from being a small mutual auto insurance company in Ohio upon its inception into one of the most prevalent insurance and financial service providers in the US.
Nationwide Peak 10 (Most States)
Ratings:
- A.M. Best A+
- S&P A+
- Moody's A1
- Comdex 90
About Product
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.9%
Fixed
|
| 1-Year BNPP Global H-Factor PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 2-Year BNPP Global H-Factor PTP Participation Rate with Spread Option A |
Point to Point
Biennial
|
310%
Participation
1%
Spread
|
| 2-Year BNPP Global H-Factor PTP Participation Rate with Spread Option B |
Point to Point
Biennial
|
285%
Participation
|
| 1-Year AB Growth & Value Balanced PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 2-Year AB Growth & Value Balanced PTP Participation rate with Spread Option A |
Point to Point
Biennial
|
270%
Participation
1%
Spread
|
| 2-Year AB Growth & Value Balanced PTP Participation rate with Spread Option B |
Point to Point
Biennial
|
240%
Participation
|
| 1-Year J.P. Morgan Cycle PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 2-Year J.P. Morgan Cycle PTP Participation Rate with Spread Option A |
Point to Point
Biennial
|
285%
Participation
1%
Spread
|
| 2-Year J.P. Morgan Cycle PTP Participation Rate with Spread Option B |
Point to Point
Biennial
|
255%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
6.5%
Cap
|
| 2-Year S&P 500 PTP Participation Rate with Spread Option A |
Point to Point
Biennial
|
60%
Participation
1%
Spread
|
| 2-Year S&P 500 PTP Participation Rate with Spread Option B |
Point to Point
Biennial
|
50%
Participation
|
| 1-Year S&P 500 DRC 5% ER PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 2-Year S&P 500 DRC 5% ER PTP Participation Rate with Spread Option A |
Point to Point
Biennial
|
240%
Participation
1%
Spread
|
| 2-Year S&P 500 DRC 5% ER PTP Participation Rate with Spread Option B |
Point to Point
Biennial
|
215%
Participation
|
| 1-Year Fixed Account |
Fixed
|
4.15%
Fixed
|
| 1-Year BNPP Global H-Factor PTP Cap |
Point to Point
Annual
|
10%
Cap
|
| 2-Year BNPP Global H-Factor PTP Participation Rate with Spread Option A |
Point to Point
Biennial
|
325%
Participation
1%
Spread
|
| 2-Year BNPP Global H-Factor PTP Participation Rate with Spread Option B |
Point to Point
Biennial
|
300%
Participation
|
| 1-Year AB Growth & Value Balanced PTP Cap |
Point to Point
Annual
|
10%
Cap
|
| 2-Year AB Growth & Value Balanced PTP Participation rate with Spread Option A |
Point to Point
Biennial
|
280%
Participation
1%
Spread
|
| 2-Year AB Growth & Value Balanced PTP Participation rate with Spread Option B |
Point to Point
Biennial
|
260%
Participation
|
| 1-Year J.P. Morgan Cycle PTP Cap |
Point to Point
Annual
|
10%
Cap
|
| 2-Year J.P. Morgan Cycle PTP Participation Rate with Spread Option A |
Point to Point
Biennial
|
295%
Participation
1%
Spread
|
| 2-Year J.P. Morgan Cycle PTP Participation Rate with Spread Option B |
Point to Point
Biennial
|
270%
Participation
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
7%
Cap
|
| 2-Year S&P 500 PTP Participation Rate with Spread Option A |
Point to Point
Biennial
|
65%
Participation
1%
Spread
|
| 2-Year S&P 500 PTP Participation Rate with Spread Option B |
Point to Point
Biennial
|
55%
Participation
|
| 1-Year S&P 500 DRC 5% ER PTP Cap |
Point to Point
Annual
|
10%
Cap
|
| 2-Year S&P 500 DRC 5% ER PTP Participation Rate with Spread Option A |
Point to Point
Biennial
|
255%
Participation
1%
Spread
|
| 2-Year S&P 500 DRC 5% ER PTP Participation Rate with Spread Option B |
Point to Point
Biennial
|
225%
Participation
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Penalty | 10% | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Guaranteed Income Solution | Yes | |
| Bonus Income Rider (Single) | No | 1.00% annually (1.20% max) |
| Bonus Income Rider (Joint) | No | 1.30% annually (1.60% max) |
Waivers
Terminal Illness
100% of the contract value may be withdrawn penalty-free after the first contract year if terminal illness or injury is diagnosed after the contract is issued; the maximum issue age is 80.
Annuitization
Available after 2 years or the date the annuitant reaches age 100, unless another date is chosen by the contract owner
Confinement
100% of the contract may be withdrawn penalty free if you are confined to a nursing home for a continuous 90-day period; confinement must begin after the contract is issued and may not be available in all states; maximum issue age is 80. The nursing home waiver does not include home health care.
Premium Notes
Annuitant: 85 (single or joint); owner: any age.
Due to the passage of the SECURE Act, beneficiaries of certain tax-qualified accounts (401, 403(a), 403(b), 408(b), 408A, and governmental 457(b)) will be required to take a full payout from the inherited IRA within 10 years of the death of the original account holder.
Withdrawal Provisions
Nationwide Peak 10 allows you surrender charge- and MVA-free access to your money in the following circumstances:
- Withdrawals of up to 10% of your contract value (keep in mind that any distributions prior to age 59½ may be subject to a 10% early withdrawal federal tax penalty)
- Required minimum distributions, even if they exceed 10% of your contract value; please keep in mind that money withdrawn from the index account during the index term will forfeit potential earnings that would have been credited at the end of the term.
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