Nationwide Summit (CA, DE Only)
Highlights
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Term
|
7 Years |
|
Surrender schedule
|
9%8%7%6%5%4%3% |
|
Free withdrawal
|
10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
05/09/2016 |
|
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 Summit (CA, DE Only) 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
- 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
|
4.25%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.5%
Cap
|
| 1-Year J.P.Morgan Mozaic II PTP Cap |
Point to Point
Annual
|
9%
Cap
|
| 1-Year Fixed Account |
Fixed
|
4.5%
Fixed
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9.25%
Cap
|
| 1-Year J.P.Morgan Mozaic II PTP Cap |
Point to Point
Annual
|
9.5%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% | 4% | 3% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Care Concierge | Yes |
Waivers
Terminal Illness
Available after the first completed contract year; may not be available in all states; maximum issue age of 80
Annuitization
Annuitization begins on the annuity commencement date and is irrevocable once payments have begun; the annuity commencement date is the first contract anniversary on or after the date the oldest annuitant on the contract reaches age 100 and cannot be changed, unless state law prohibits such a restriction
Confinement
Available after the first completed contract year; maximum issue age of 80 for waiver. The nursing home waiver does not include home health care.
Request a free quote or talk to our financial expert to get help