Nationwide Platinum Edge
Highlights
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Premium Type
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Flexible Premium
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|---|---|
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Max age Qualified
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85
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Minimum Contribution
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$2,000
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Maximum Contribution
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$1,500,000
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Market value adjustment
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Return of premium
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|
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Free withdrawal
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10% |
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Launch date
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07/14/2001 |
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Types of funds
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Non-Qualified, IRA, IRA Rollover, 401a, IRA Transfer, SEP IRA, IRA-Roth, SIMPLE IRA, Inherited IRA, and NQ Stretch |
Brochure
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Open brochure |
Age limits
You can be a contract owner at any age, and you can be an annuitant through age 85.
Minimum investments
$10,000: Nonqualified / $2,000: IRAs and Roth IRAs
$1,000 for subsequent payments; $100 for electronic transfer of funds
Electronic funds less than $1,000 are held in the transition account until the $1,000 minimum investment is met
At the end of each guarantee period, assets are moved to a transition account that offers a minimal interest rate. Withdrawals from the transition account are not subject to a contingent deferred sales charge (CDSC) or market value adjustment. If assets are transferred from the transition account to a guarantee period, a new CDSC schedule will apply.
Accessing your money
Nationwide Platinum Edge allows CDSC-free access to your money when:
- Withdrawing up to 10% of the contract value (noncumulative) per year (a MVA applies); withdrawals must be a minimum of $100
- Withdrawing money from the transition account (no MVA)
- Confined to a nursing home or long-term care facility for a continuous 180-day period
- The annuitant dies
- The contract is annuitized after two years
If you withdraw money before the end of a CDSC period, an MVA could apply. If you have an MVA in your contract, it could add or subtract value from your annuity if you make a withdrawal during your CDSC period. Generally speaking:
- If interest rates have gone up, the MVA will be negative and money will be subtracted from your withdrawal
- If interest rates have gone down, the MVA will be positive and money will be added to your withdrawal
Your death benefit will be the current contract value. The value is determined by adding all interest earned to your purchase payment minus any previous withdrawals and applicable MVAs.
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.
Find out if the Nationwide Platinum Edge is the right product for you.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 3 years | 3.7% |
| 4 years | 4.15% |
| 5 years | 4.2% |
| 6 years | 4.25% |
| 7 years | 4.3% |
| 8 years | 4.35% |
| 9 years | 4.4% |
| 10 years | 4.45% |
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 0 | 0.1% | 0.1% | 0.1% |
Riders
No Riders for Nationwide Platinum Edge annuity.
Waivers
Death
Nationwide Platinum Edge offers a CDSC waiver for money in a guarantee period when the annuitant dies; the market value adjustment is waived.
Nursing Home
Unavailable in states: MA, and NJ
Nationwide Platinum Edge offers a CDSC waiver for money in a guarantee period when confined to a nursing home or long-term care facility for a continuous 180-day period; confinement must begin while the contract is in force; the feature may not be available in all states; a market value adjustment applies. The nursing home waiver does not include home health care.
Terminal Illness
Nationwide Platinum Edge offers a CDSC waiver for money in a guarantee period when confined to a nursing home or long-term care facility for a continuous 180-day period; confinement must begin while the contract is in force; the feature may not be available in all states; a market value adjustment applies.
Annuitization
Nationwide Platinum Edge offers a CDSC waiver for money in a guarantee period when the contract is annuitized after two years; a market value adjustment applies. After the first policy year in FL.
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