CUSIP Number:
63866K379
CUSIP Name:
Option B
Product Policy Type:
Indexed Annuity
Inception Date:
10 Feb 2014
Close Date:
CUSIP Note:
Scrap Book:
The Nationwide New Heights 10 is a single premium deferred index annuity with a market value adjustment (MVA varies by state). The minimum single premium is $25,000 for qualified and non-qualified money. The free withdrawal schedule to access a portion of the contract value without a surrender charge is as follows: year 0 - 0%. Year 1 to 9 - 7%. In addition, the contract credits full-earnings-to-date on free withdrawal, long-term care event, terminal illness or injury, and death benefit prior to the end of the crediting term; pro-rata earnings are credited on surrenders and withdrawals in excess of the free withdrawal limit. After year 9, all withdrawals are free of surrender and or MVA charges, however the free withdrawal amount for the purpose of calculating full earnings-to-date is increased to 10%. There is an optional lifetime income benefit available (Nationwide High Point 365) which, if elected for an additional cost, provides an option to receive lifetime income withdrawals without incurring withdrawal charges or MVA. There is an optional death benefit rider available (Nationwide High Point) which, if elected at an additional cost, guarantees that the first death benefit payable will be no less than the enhanced death benefit. Both riders offer a purchase payment bonus (availability varies by state) to the contract value on the rider effective date, vested over the surrender charge period. There is also a Return of Premium available on this contract. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Guarantees based on claims paying ability of insurer. Products / features may not be available in all states. The Free Look period may vary by state. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Last Modified:
15 Sep 2023 15:41