CUSIP Number:
63890A702
CUSIP Name:
5&7 Year Annuity
Product Policy Type:
Fixed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The Nationwide Secure Growth Direct is a Single Premium Deferred Annuity with an optional market value adjustment. The initial minimum contribution is $10,000 qualified and non-qualified. There is an annual 10% non-cumulative free withdrawal of accumulated value. Systematic withdrawals are an option. The surrender charge schedule varies by rate term and is waived in the event of annuitization, death, diagnosis of a terminal illness or nursing home confinement. Free look is 10 (thirty days if the Contract is a replacement). There is an optional return of premium available in which the contract owner will receive a return principal upon full surrender of the contract, less previous withdrawals and applicable state premium taxes; electing this option reduces the interest rate credited to the purchase payment. The Return of Purchase Payment option is not available if a Market Value Adjustment is elected. Withdrawals may be subject to Federal/State income tax, and if taken prior to age 59 1/2, a 10% Federal Penalty tax. Guarantees based on claims paying ability of insurer. This is an annuity contract issued by an insurance company and not securities or bank products protected by the FDIC.
Last Modified:
31 Jan 2025 12:05