Target market

Nationwide Platinum V Plus is for clients who want to know their money will experience guaranteed interest-rate increases for a specified period of time.

Product details

• Maximum issue age: 90 for annuitant, no age limit for owner
• Plan types: Nonqualified, Roth IRA, IRA
• Minimum initial investment: $5,000 single purchase payment
• Contingent Deferred Sales Charge (CDSC):
  • 10-year declining with a 60-day CDSC-free window in year 6 (6, 6, 6, 6, 6, 5, 4, 3, 2, 1%)
• CDSC-free withdrawals:
  • 10% of contract value annually (noncumulative, minimum of $100)
  • Terminal illness and nursing home confinement (may not be available in all states)
  • Contract annuitized after 2 years (1 year in FL)
  • Required IRA distributions
  • During the first 60 days of the 6th contract year
  • At maturity
  • At death of annuitant

Key features

• Initial interest-rate guarantee period is 5 years:
  • Base interest rate in year 1 increases by 0.15% in years 2 - 5 (cumulative)
  • Second interest rate guarantee period is 5 years: Base interest rate in year 6 increases by 0.15% in years 7 - 10 (cumulative)
• 60-day window during the first 60 days of year 6 when the client can keep the money in the contract for the renewal or withdraw it CDSC-free (Withdrawals will be subject to ordinary income tax and distributions prior to age 59½ may be subject to a 10% early withdrawal federal tax penalty.)

Annuity buyer's guides