People are retiring earlier and living longer. So there’s a real risk of outliving your assets. And a real need for lifetime income that may increase with, or even beat, inflation.
If you're at or near retirement and need guaranteed lifetime income, then adding the Nationwide Lifetime Income Rider(R) (Nationwide L.inc) to your variable annuity may be right for you.
While investing in variable annuities involves market risk, including the possible loss of principal, Nationwide L.inc offers lifetime income that will never decrease -- even if the contract value drops to zero1. Just remember that the protections and guarantees discussed here are subject to the claims-paying ability of the issuing insurance company.
See if Nationwide L.inc might be right for you
Features of Nationwide L.inc
A 7% simple interest roll-up on your original income benefit base for the first 10 years or until your first lifetime withdrawal, whichever comes first.
An annual step-up feature that locks in the highest contract value on the rider anniversary if your investment options outperform the 7% simple interest roll-up rate.
A joint option for continuing income for either surviving spouse, available for an additional cost.
A non-lifetime withdrawal feature. (This option can only be exercised once, is not available in the first rider year and is only available before the first lifetime withdrawal.)
The ability to choose your own investments.2
Excess or non-lifetime withdrawals may reduce or wipe out your income benefit base. Certain restrictions and limitations may apply. Only certain investment options are available.