Target market
Nationwide Destination Architect 2.0 is a variable annuity for individuals who are seeking to build a portfolio with growth potential and guaranteed lifetime income, but are wary of high fees that may impact their opportunity for growth.
Product details
- Maximum issue age: Annuitant through age 85; owner may be any age
- Plan types: Nonqualified, IRA, Roth IRA, SIMPLE IRA, SEP IRA, Charitable Remainder Trusts
- Minimum investment: $25,000; subsequent: $1,000 (or $150 for automated clearinghouse)
- Contingent deferred sales charge: N/A
- Total fee: 0.40%
- Mortality & expense fee: 0.20%
- Administrative fee: 0.20%
- Maintenance charge: No charge
- Contingent Deferred Sales Charge (CDSC)1: No charge; assets may be withdrawn at any time, for any reason, without incurring surrender charges. Withdrawals of earnings at any age are subject to ordinary income tax; distributions prior to age 59½ may be subject to a 10% tax penalty.
- Underlying investment options2: The election of certain riders may limit the investment options available.
- Standard Dollar Cost Averaging (DCA) available
- Asset rebalancing
- Fund exchanges
Key features
- Return of Premium Death Benefit: Available at no additional cost, the Return of Premium Death Benefit Rider ensures that beneficiaries will receive at least the amount that was invested, giving them some protection in down or fluctuating markets.
- Spousal Protection Death Benefit Feature makes certain that regardless of who passes away first, the surviving spouse, who is designated as a co-annuitant, has the option to receive a guaranteed death benefit or continue the contract at the higher of the death benefit or contract value, even on IRAs where there is a single owner (not available on CRTs). If the contract is continued, a new beneficiary can be designated who may receive a death benefit when the surviving spouse passes away. It is available on all death benefits for no additional cost.
- The Enhanced Surrender Value for Terminal Illness enables owner-annuitants who have been diagnosed with a terminal illness to exercise the option to receive their full death benefit value before passing away3. It is available at no additional cost. It is not available in New York.
- Nationwide Care Concierge: Offers professional and confidential guidance on a variety of complex health care, medical coverage and personal issues for contract owners, their spouses, dependent children, parents, parents-in-law and beneficiaries. Available at no additional cost. This feature is not available in all states/territories.
View the prospectus. (pdf)
1 In CA, CDSC is known as a surrender charge.
2 The underlying funds discussed in this product profile are available only as underlying investment options in variable annuity products issued by life insurance companies. They are not offered or made available directly to the general public. Investment results may vary. Although the money manager may offer mutual funds with similar names to the underlying investment options available with this variable annuity, please note that these are not the same investments.
3 Available after the first contract year. When the option is exercised, Nationwide terminates the annuity and pays the owner an amount equal to the death benefit available if the owner had died on the date the form was presented in good order. Exercising this option prior to age 59½ may result in a 10% federal tax penalty; earnings may be subject to income taxes.
Nationwide Care Concierge is administered by Health Advocate. Nationwide is not affiliated with Health Advocate.
West's Health Advocate Solutions is the nation's leading health care advocacy and assistance company, serving more than 11,500 clients, including many of the nation's largest companies. HealthAdvocate.com.
Nationwide Destination is a service mark of Nationwide Mutual Insurance Company.