Nationwide Peak 5 (Most States)
Highlights
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Term
|
5 Years |
|
Surrender schedule
|
9%8%7%6%5% |
|
Free withdrawal
|
10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
06/10/2019 |
|
Minimum contribution
|
$25,000 |
|
Maximum contribution
|
$1,000,000 |
|
Max Age Qualified
|
90 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, 401a, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, Inherited IRA, and NQ Stretch |
Brochure
|
Open brochure |
Find out if the Nationwide Peak 5 (Most States) is the right product for you.
Premium Notes
Annuitant: 90 for single life, 85 for joint Owner may be 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
Applies during the Surrender Charge period to withdrawals in excess of the contract’s free withdrawal amount; does not apply to withdrawals made under a long-term care/confinement waiver, terminal illness/terminal injury waiver or required minimum distributions
Required minimum distribution (RMD)
Available surrender charge and MVA free; if withdrawals taken for the purpose of RMD exceed the free withdrawal amount, the free withdrawal amount will be increased to match the RMD amount for that year
Free withdrawals
- 10% annually of contract value at beginning of term (noncumulative)
- Withdrawals will not receive any index account earnings.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
4.35%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.25%
Cap
|
| 1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
10.5%
Cap
|
| 1-Year Morgan Stanley 3D PTP Cap |
Point to Point
Annual
|
9.5%
Cap
|
| 1-Year J.P. Morgan Mozaic II PTP Cap |
Point to Point
Annual
|
9.5%
Cap
|
| 1-Year Fixed Account |
Fixed
|
4.6%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year MSCI EAFE PTP Cap |
Point to Point
Annual
|
11%
Cap
|
| 1-Year Morgan Stanley 3D PTP Cap |
Point to Point
Annual
|
10%
Cap
|
| 1-Year J.P. Morgan Mozaic II PTP Cap |
Point to Point
Annual
|
10%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% |
Riders
No Riders for Nationwide Peak 5 (Most States) annuity.
Waivers
Terminal Illness
Terminal illness or injury waiver: 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; may not be available in all states.
Annuitization
Annuitization After 2 years (1 year in Florida) or the date the annuitant reaches age 95, unless another date is chosen by the contract owner.
Confinement
Long-term care or confinement waiver: 100% of the contract may be withdrawn penalty free if you are confined to a nursing home for a continuous 90-day period after the first contract year; confinement must begin while contract is in force and may not be available in all states. The nursing home waiver does not include home health care.
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