Capital Preservation Plus Lifetime Income - GMWB

The rider provides both principal protection and the possibility of a lifetime income stream. The CPPLI Option is a two-phase benefit comprised of a Preservation Phase and an optional Withdrawal Phase and provides three distinct forms of benefit: 1) A return of principal guarantee based on election of a Capital Preservation Plus Program (a CPP Program) for a specific time period of 5, 7, or 10 years (the CPP Program Period); 2) an immediate withdrawal benefit option that enables the Owner begin taking guaranteed withdrawals prior to the end of the designated CPP Program Period (and terminating the principal guarantee); and 3) a lifetime withdrawal benefit that enables the Owner to take guaranteed lifetime withdrawals at the end of a CPP Program Period. On the date Nationwide records the Contract Owner's affirmative election to invoke the immediate withdrawal benefit option, Nationwide determines the immediate withdrawal base, which is the dollar amount used to determine how much the Contract Owner can withdraw each year under the benefit. The immediate withdrawal base will equal the amount that was guaranteed at the end of the current CPP Program Period, proportionally reduced by any withdrawals from the contract that were taken during the current CPP Program Period. The immediate withdrawal base will not change unless the Contract Owner takes aggregate withdrawals in excess of 6% of the immediate withdrawal base in any Contract Year.,The Capital Preservation Plus Lifetime Income Option is not available on beneficially owned contracts. For Contract Owners that elect the option, allocations made to the GTOs/TTOs will be assessed a current fee of 0.75% (Max - 1.00%). The GTO/TTOs charges are assessed by decreasing the interest rate of return credited to assets allocated to the Guaranteed Term Options. From time to time, Nationwide may offer an enhanced version of the CPP program. An enhanced CPP program will not result in any increase in cost. Enhanced CPP programs provide a larger non-GTO component than would be available under the standard CPP program. In exchange for this benefit, Nationwide will impose stricter allocation restrictions on the non-GTO component. It is possible, under certain enhanced CPP programs, for a Contract Owner to have 100% of their investment allocated to the non-GTO component during the preservation phase. While enhanced CPP programs are offered, Contract Owners will still have the option to elect the standard CPP program under the CPP Lifetime Income Option. Owner may also elect Dollar Cost Averaging for Living Benefits.