Nationwide Secure Growth
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 Secure Growth
Ratings:
- A.M. Best A+
- S&P A+
- Moody's A1
- Comdex 90
About Product
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 5 years | 3.95% |
| 7 years | 3.65% |
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 5 | 3.95% | 2.57% | 3.95% |
| 5 | 3.6% | 1.12% | 3.6% |
| 7 | 4% | 3% | 4% |
Minimum investments
The minimum contract amount is $10,000.
Maximum issue age
- There is no maximum issue age for the contract owner; the maximum annuitant issue age is 90.
- Non-Qualified, IRA, Roth IRA, SEP IRA, Simple IRA, 401(a), and Charitable Remainder Trust (CRT).
- 10% of the contract value will be available immediately, renews each contract year (noncumulative)
- Required minimum distribution (RMD) amounts are not subject to CDSC
- Death benefit distributions are not subject to CDSC
- Annuitization distributions are not subject to CDSC
- Long-term care and terminal illness waivers (not available in California)
Any amount withdrawn in excess of the remaining free withdrawal amount is subject to a CDSC and MVA, if applicable. The MVA is an adjustment that may be applied if you make a partial withdrawal or fully surrender your contract before the end of the CDSC period. The MVA may be positive, negative or zero. If the MVA is negative, it could decrease the amount that you receive when you take a withdrawal or surrender. Conversely, if the MVA is positive, it could increase the amount you receive.
Return of Purchase Payment Rider
Electing this optional rider guarantees the return of principal, minus previous withdrawals and applicable state premium taxes, when the entire contract value is surrendered during the CDSC period. The CDSC will be deducted from the interest earned, not principal. There is no fee for the rider, but the interest rate may be lower. The Return of Purchase Payment option is not available if a market value adjustment is elected.
Death benefit
Your death benefit will be the current contract value at the time of the annuitant’s death. The value is determined by adding all interest earned to your purchase payment minus any previous withdrawals.
Riders
No Riders for Nationwide Secure Growth annuity.
Waivers
Death
Contact us to get more information about this waiver.
Nursing Home
Nursing Home Waiver: 90 day elimination period. Maximum eligibility age 80. The nursing home waiver does not include home health care.
Terminal Illness
Terminal Illness Waiver: Maximum eligibility age 80.
Annuitization
Annuitization Waiver: Available after the second policy year; after the first policy year in FL and NY.
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