As you continue reviewing the Nationwide New Heights® Select Fixed Indexed Annuity, consider how these optional riders can help you tailor it to focus more on what’s important to you.
Note that these riders are available for an additional cost, they must be elected at the time of issue, and only one rider may be elected per contract. Availability of New Heights Select products and riders varies by state. Refer to the New Heights Select product profiles for details on availability.
Two optional riders include a combination of features designed to increase the lifetime income you can expect in retirement.
This option guarantees that your income benefit base (what we use to calculate your income) will grow by the greater of:
The additional cost for this rider is 0.95%; it’s calculated on the high point income benefit base and deducted from the contract value quarterly.
This option offers instant growth of the income benefit base with its Minimum Income Benefit Value Bonus of 30%.
And it guarantees that your income benefit base will continue to grow by the greater of:
The additional cost for this rider is 1.10%; it’s calculated on the high point income benefit base and deducted from the contract value quarterly.
For Nationwide High Point 365® Select Lifetime Income Rider, income payments can begin after the fifth contract anniversary and the date when the younger covered life reaches age 50.
For Nationwide High Point 365® Select Lifetime Income Rider with Bonus, income payments can begin after the first contract anniversary and the date when the younger covered life reaches age 50.
Choose from one of two optional riders designed to protect and increase the death benefit we would pay to your beneficiary.
Nationwide’s EDB riders offer the opportunity for a death benefit value that:
Only one rider can be chosen, and it must be elected at the time of contract issue. You (and your spouse if the joint option is elected) must be 75 or younger at contract issue; the oldest age of either spouse is used to calculate the death benefit amount.
You will receive the greater of the New Heights Select standard death benefit or the High Point Select EDB Value.
High Point EDB Value
is the greater of:
| Highest DAV4 | Minimum EDB Value |
|---|---|
| If the Daily Accumulation Value (DAV)1 reaches a new daily high, that value is captured as your Highest DAV. The Highest DAV may increase until the contract anniversary after the older annuitant reaches age 80. |
The Minimum EDB Value is the purchase payment growing daily at a 4% annual rate until the earliest of:
|
The EDB with Bonus Rider instantly increases the death benefit to extend the legacy you leave for your loved ones.
The bonus is calculated at purchase and immediately credited to the purchase payment when the contract is issued; it is then applied to the contract value and the return of purchase payment agreement amount.
The purchase payment bonus vests over time and is fully vested by the end of the Surrender Charge period.
Joint option
Choosing the joint option ensures that a death benefit will be paid out no matter who passes away first. That person will have the choice between:
Rider charges
Rider charges are based on the High Point EDB Value and assessed quarterly, and reduce the contract value and the minimum guaranteed contract value (in states that allow it5).
[1] The Daily Accumulation Value monitors the combined daily fluctuations in the elected strategy options and is the greater of (1) the contract value, plus any unrealized earnings (strategy earnings that have not yet been credited to the contract), or (2) the Return of Purchase Payment Guarantee Amount.
[2] If Rider with Bonus is elected, guaranteed income growth is capped at year 30.
[3] For New Heights 12: The maximum issue age is 75 years (64 years in Florida).
[4] For states filed under the Interstate Insurance Compact, this amount will be the lessor of the Highest DAV or 125% of the Surrender Value.
[5] The states are Arkansas, Arizona, Colorado, Washington D.C., Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maine, Michigan, Minnesota, Montana, North Dakota, Nebraska, New Mexico, Rhode Island, South Dakota, Tennessee, Virginia, Vermont and Wisconsin.
Read this important information.
This material is not a recommendation to buy or sell a financial product or to adopt an investment strategy. Investors should discuss their specific situation with their financial professional.
Nationwide New Heights Select is a single premium, fixed indexed deferred annuity issued by Nationwide Life and Annuity Insurance Company, Columbus, Ohio.
All guarantees and benefits of the insurance policy are subject to the claims-paying ability of the issuing insurance company. They are not backed by the broker-dealer and/or insurance agency selling the policy, or any affiliates of those entities other than the issuing company affiliates, and none makes any representations or guarantees regarding the claims-paying ability of the issuer.
Fixed annuities have limitations. They are long-term vehicles designed for retirement purposes. They are not intended to replace emergency funds, to be used as income for day-to-day expenses or to fund short-term savings goals. Please read the contract for complete details.
Withdrawals are subject to income tax, and withdrawals before age 59½ may be subject to a 10% federal tax penalty.
New Heights Select does not directly participate in the stock market or any index. It is not possible to invest in an index.
Contract/certificate: ICC20-FACC-0126AOPP, ICC20-FARR-0122AO, ICC20-FARR-0123AO, ICC20-FARR-0124AO, ICC20-FARR-0125AO, ICC23-FAZZ-0150AO.1