Nationwide Life Secure Growth 7 MVA
Current Fixed Rates
| 4.70% | $100,000 | — | $1,000,000 |
| 4.45% | $10,000 | — | $99,999 |
The Nationwide Life Secure Growth 7 is a single-premium, fixed annuity with a 7-year rate guarantee. After 7 years, owners can withdraw, transfer, or reinvest their full account value. If no action is taken, the account remains fully liquid, and a new, one-year interest rate is applied. The account does not automatically renew at maturity.
Two interest rate bands are available. The highest rate applies to deposits above $100,000. A lower rate applies to deposits between $10K – $99.9K. Qualified and non-qualified funds are accepted, including IRA transfers, rollovers, Roth conversions, SEP, Simple, and Inherited IRA accounts. Unique accounts such as Non-Qualified Stretch annuities and Charitable Remainder Trusts are also accepted.
This policy can also be purchased with or without a Market Value Adjustment feature. A Return of Premium feature is also available at a lower annual interest rate. There are no surrender charges upon passing.
*Rates for policies originating in California are noticeably lower, as there is no option to include a Market Value Adjustment rider.
More Annuity options from: Nationwide Life
Notable Features
At no additional cost, this annuity waives surrender charges for Nursing Home, Terminal Illness, and Annuitization situations. Accounts can be established with or without a Market Value Adjustment and/or Return of Premium feature, subject to certain state-specific rules that exist in NY and CA.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
7 Years
Free Withdrawals Yr1 / Yr2+
10% / 10%
Additional Withdrawal Information
This fixed annuity policy offers 10% free withdrawals immediately and in all years of the contract's maturity term. The 10% withdrawals are not cumulative and reset with each policy anniversary. The policy is RMD-friendly for IRA owners.
Surrender Schedule
8%, 8%, 7%, 6%, 5%, 4%, 3%, 0%
Maximum Age
90
Minimum Investment
$100,000
Maximum Investment
$1,000,000 without prior approval
What We Like About This Annuity
This policy is offered by an A+ rated (Excellent) insurance company. It includes 10% free withdrawals in all years and waives surrender charges for certain health and income situations. The policy does not automatically renew at maturity. There are no surrender penalties upon passing. Several variations of this annuity are available, including one with an optional Return of Premium feature.
We also like that several different and unique types of accounts are accepted. Consumers can invest in this annuity with Non-Qualified Stretch, Inherited IRA, and Charitable Trust Annuity accounts, among others.
Other Popular Products
Nationwide is well known for innovative life insurance and annuity products. Their Peak 10 fixed-indexed annuity is a great product for growth and income that can maintain principal in the account. Their CareMatters long-term care-linked life insurance policy is popular with consumers who want a fixed-premium hybrid LTC life policy.
About Nationwide Life
Nationwide Life
AM Best Rating: A+ Superior (2nd of 13 ratings)
https://www.nationwide.com/
About Nationwide Life Insurance Company
Domiciled in Columbus, Ohio, this A+ rated insurance company boasts approximately $300 billion in assets under management and over $1 billion in net operating income. Their Comdex score is 90, and they also have impressive ratings of A+ with Moody’s and Standard and Poor’s. They’ve been in business and providing insurance and investments since 1925.
They pride themselves on being a technology-focused company with a human touch. Their diverse line of innovative products in the life, health, and property & casualty markets makes them one of the strongest insurance companies in the US.
Consumers can find safe and reliable annuity policies that have stood the test of time with Nationwide Life. Corporate and retirement solutions are also available for those needing investment guidance.