7% Nationwide Lifetime Income Rider

The rider provides a guaranteed lifetime income with a one-time withdrawal without initiating the lifetime income benefit.,The Joint Option for the 7% Nationwide Lifetime Income Rider is only available for election if and when the 7% Nationwide Lifetime Income Rider is elected. If, after beginning the lifetime income withdrawals, the contract value falls to zero, the contract owner has three options as follows: 1) continue withdrawals of no more than the LIB until the death of the contract owner; 2) elect the Age Based Lump Sum Settlement Option; or 3) elect the Underwritten Lump Sum Settlement Option.

A one-time withdrawal ("non-lifetime withdrawal") cannot be taken after the contract owner initiates the lifetime withdrawals. Non-lifetime withdrawal will not lock in the lifetime withdrawal percentage and will not stop the 7% simple interest roll-up. However, the non-lifetime withdrawal will reduce the current income benefit base, and consequently, the lifetime withdrawal amount calculated for subsequent years. As with all withdrawals, a non-lifetime withdrawal will reduce the contract value and death benefit. Non-lifetime withdrawal will cause a reduction to three factors used to calculate the lifetime withdrawal amount - 1) current income benefit base; 2) original income benefit base; and 3) subsequent purchase payments and purchase payment credits applied before the non-lifetime withdrawal.