Are you looking for stable and steady growth and a guarantee against loss of principal? Then Nationwide Platinum V® Plus may be the right choice for you. Platinum V Plus is a fixed annuity that offers an interest rate that isn't affected by stock market ups and downs.
Like all fixed annuities, Platinum V Plus gives you:
- Protection against market loss
- Guaranteed growth
- A stream of income you can't outlive through a life annuitization option
But, Platinum V Plus gives you a little more than just steady growth. Platinum V Plus' step-up rate boosts your original interest rate by 0.15% each year through year five. Then, in the sixth year, it starts all over again. In the sixth year, you'll receive a renewal base interest rate.
You can decide to keep your money in the contract at the new base rate or withdraw it free of contingent deferred sales charges (CDSC). Withdrawal requests must be received within the first 60 days of the sixth year. Withdrawals may be subject to tax. If taken before age 59½, a 10% early withdrawal federal tax penalty may apply.