Nationwide Peak 10 Indexed Annuity
The new Nationwide Peak 10 indexed annuity is a single premium fixed indexed annuity. it offers two income rider choices. The first is a fixed 4% roll-up with no annual fee. There is also the option to add a 7% roll-up option with an annual fee. The product has a income rider with a 4% roll up and no annual fee. A 7% roll up option is available for an annual fee. There are 4 crediting methods which credit interest from 4 underlying indexes.
Nationwide Peak 10 Indexed Annuity- Income bonus option
The product has a 10% simple interest income bonus. The rider rolls up for a max of 10 years with a fee of 1% single and 1.3% joint. Please note the bonus is on the income value only and not on the contract value.
Peak 10 State approvals
While this product is available in a number of states, it is not in all of them. CLICK HERE FOR STATE APPROVALS
This product features multiple crediting methods including uncapped strategies. Two of the crediting strategies are exclusive to the product. The other two strategies use the S&P as the underlying index for crediting.
- Exclusive: Alliance Bernstein GVB IndexSM (GaVL)
- Exclusive: J.P. Morgan CycleSM Index
- S&P 500® Price
- S&P 500® DRC Index
Nationwide Peak 10 Indexed Annuity: Agent compensation
The product has a set comp for producers. Nationwide requires proof of current production to have a higher level. The comp also varies by the age bracket of the annuitant. This is a direct pay contract. Commissions flow directly from the carrier to the agent.
Compensation rate for ages 0 to 75 is 6.50%
4.65% for ages 76 to 80
3.05% for ages 81 through 85
Additional commission levels for high level producers and agencies
Nationwide offers 4 comp levels for this product. Production needs to be over 2.5 Million to access level 2 and tops out at 25 Million for level 4
Rate sheets for product (Two rate sheet for various states)
If you have questions about the product, contracting, illustrations or commissions, call 203-796-5403 or email Edward@croweandassociates.com