You have a few years before you retire. And you're planning ahead.
Nationwide Destination EV 2.0 may be able to help. It's a variable annuity that offers a solid approach for today with time to build for tomorrow. Once you're in retirement you can take income from your balance (called annuitization), and if you should pass away unexpectedly before annuitization occurs, a death benefit will be paid to your beneficiary. Keep in mind that if you take withdrawals before you're 59½, you may have to pay a 10% tax penalty in addition to ordinary income taxes. Early withdrawals may be subject to ordinary income taxes. They may trigger early surrender charges and reduce your death benefit and cash value.
Destination EV 2.0 has optional riders that you can add for an extra cost. These riders can help you ensure that your annuity has the features that are important to you.
Nationwide Destination EV offers you the potential for tax deferred growth and a wide range of death benefit options, while providing access to your deposits at any time without a surrender charge. Withdrawals of taxable amounts will be subject to ordinary income tax and, if taken prior to age 59½, may be subject to an additional 10% IRS tax penalty. If you do take an early withdrawal, your death benefit and cash value will be reduced.