Nationwide Platinum III® is an individual, single purchase payment, deferred fixed annuity. It is designed for long-term assets and offers guaranteed interest rates. It also offers the ability to create a stream of income for life or for a specific time period through annuitization.
Like all fixed annuities, Platinum III gives you:
- Protection against market loss
- Guaranteed growth
- A stream of income you can't outlive through a life annuitization option
But, Platinum III gives you a little more than just steady growth. The Platinum III step-up rate boosts your original interest rate by 0.15% for the next two years. Then, at the end of the third year, you'll receive a renewal base interest rate. If the renewal rate is less than the year one base rate, you can withdraw your money CDSC- free. The withdrawal request must be received within the first 30 days of year four. Withdrawals may be subject to tax and, if taken before age 59½, a 10% early withdrawal federal tax penalty may apply.