Nationwide High Point 365® Lifetime Income Rider Living Benefit

Details

The Nationwide High Point 365 Lifetime Income Benefit Rider (High Point 365) is an optional living benefit rider that can be added, for an additional cost, to a Nationwide New Heights® Fixed Indexed Annuity, if suitable.

It is designed to offer:

  • The opportunity for growth potential, even after lifetime income payments have started
  • The greater of (1) a daily step-up feature on the income benefit base that captures the highest daily balanced allocation value1 or 1% compound interest annual roll-up on your purchase payment for 10 years or until the first lifetime withdrawal, whichever comes first
  • Competitive payout percentages that increase the longer you wait to take lifetime income2
  • A joint option for continuation of income to the spouse. [Note: If joint option is elected, the lifetime payout percentage is lower.]

Please note that High Point 365 is only available at contract issue. In order to purchase this rider, your client (and his or her spouse if the joint option is elected) must be between the ages of 40 and 80 years3 at contract issue.

Cost: High Point 365 has an annual rider charge rate of 0.95% for the life of the contract; it is calculated on the high point income benefit base and is deducted from the contract value on a quarterly basis.

1 The balanced allocation value monitors the daily fluctuations of your contract and is the greater of the contract value plus any unrealized earnings or the Return of Purchase Payment Guarantee amount.

2 Lifetime income payments cannot begin until after the fifth contract anniversary and the date that the youngest covered life reaches age 50. Once the contract is issued, the range of lifetime payout percentages applicable to your contract will not change; however, payout percentages increase within that range every year income is deferred until the maximum payout percentage is reached. Once the lifetime income payments begin, the payout percentage will not change.

3 For New Heights 12: Maximum issue age is 75 years (64 years in Florida).

Nationwide High Point 365 is a service mark of Nationwide Mutual Insurance Company.

Fixed Indexed Annuities