CUSIP Number:
63866K536
CUSIP Name:
Option B Strategies
Product Policy Type:
Indexed Annuity
Inception Date:
08 Mar 2021
Close Date:
CUSIP Note:
Scrap Book:
The Nationwide New Heights Select 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%. Surrender charges are ten years in duration for Most States and may vary by state and are waived in the event of death, the need for Extended care, diagnosis of a terminal illness, or requires assistance with activities of daily living. After year 10, 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 Select with/without Bonus) 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 Riders available (High Point Select with/without Purchase Payment Bonus) 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:
01 Apr 2026 07:02