This optional rider is available for an additional cost with some Nationwide variable annuities.
If the annuitant dies, the beneficiary will receive the greater of:
The contract value of the annuity at the time we receive all required paperwork in good order
The total for all purchase payments made to the annuity, less adjustments for amounts surrendered
The highest contract value on any contract anniversary prior to the annuitant’s 81st birthday
Purchase payments accumulated at a compound interest rate (from 1% -6%) until the most recent contract anniversary prior to the 81st birthday (with a maximum benefit of 200%); subject to meeting the fixed account allocation restrictions
By locking the death benefit in at the highest annual contract anniversary or the growth of the compound interest rate, you may be able to increase the value of the variable annuity for your beneficiaries, even if the market and your contract value are down when you die.
This optional death benefit is only available for annuitants through age 70. Rider may not be available in all states; not available in New York. Refer to the prospectus for the current interest rate.
For more information or to make a case, contact your Nationwide wholesaler at 1-800-321-6064.