What will we cover in this annuity review?
In this review, we will be covering the following features of the newly-released Nationwide Peak fixed index annuity:- Product type
- Fees
- Current rates
- Realistic long-term return expectations
- How the annuity is best used
- How the annuity is most poorly used
Annuities can be complex. That’s where having an Annuity Investigator who loves math comes in. We make the complex, simple.
If you have been thinking about buying a fixed indexed annuity because of the index-linked (and tax-deferred) growth you can obtain without any worry about market-related losses, then the Nationwide Peak fixed index annuity could be a good option for you. That’s because fixed index annuities can offer the opportunity for both accumulation and principal protection, along with an ongoing, guaranteed lifetime income that you can count on when you retire. In fact, over the past decade or so, these types of annuities have become extremely popular with investors who are tired of stock market losses, and who want to know that their money will be there when they need it – and for as long as they need it. But, before you run out and purchase this – or any – annuity, it is important that you have a good understanding of how the product works so that you can anticipate any of the fees that you may incur, as well as knowing the ins and outs of the crediting of returns.Annuity and Retirement Income Planning Information You Can Trust
If you have never been to our website before, please allow us to officially welcome you here to Annuity Gator. Who exactly are we? At Annuity Gator, we are made up of a team of experienced financial and annuity professionals who focus on providing in-depth, and unbiased, annuity reviews on the Internet. We have been at this for quite a while now – far longer than our competitors have – even though there are now a number of “copycat” websites that are popping up. It’s been our mission to provide information about annuities to consumers so that they know exactly what they may (or may not!) be getting into when considering an annuity. These products can be highly complex, so it helps to have someone who is adept in how annuities work, and who can pare down the massive amount of “fine print” into something that is more easily understood. That’s where we come in! When looking for annuity information online, it is essential that you know who is trying to provide education on the products, and who is simply trying to sell you something…regardless of whether or not it is the right financial vehicle for you. It’s easy to be lulled into some of the other websites out there in cyberspace – especially when they make bold claims, like:- Lowest fees
- High income
- Top-rated annuity carriers
- Income stream for life
Nationwide Peak Fixed Indexed Annuity at a Glance
Product Name | Peak |
---|---|
Issuer | Nationwide |
Type of Product | Fixed Indexed Annuity |
A.M. Best Rating | A+ |
Phone Number | (877) 669-6877 |
Website | https://www.nationwide.com |
Opening Thoughts on the Nationwide Peak Fixed Index Annuity
Nationwide has a history of strength that has lasted for more than 90 years, and today it is one of the largest insurance and financial services companies in the world. The company specializes in annuities, as well as mutual funds, retirement plans, and life insurance coverage for both individuals and companies. There are numerous Nationwide affiliate companies, too, throughout the United States, including those that specialize in property and casualty insurance, life insurance, financial services, and strategic investments. Nationwide Life and Annuity Insurance Company has high ratings from the insurer rating agencies, including a(n):- A+ from A.M. Best Company
- A+ from S&P
- A1 from Moody’s
Before we get into the gritty details, here are some legal disclosures we need to provide…
This is an independent product review, not a recommendation to buy or sell an annuity. Nationwide has not endorsed this review in any way, nor do we receive any type of compensation for providing this review. This review is meant to be an independent review at the request of readers so that they may see our perspective when breaking down the positives and negatives of this particular annuity. Prior to purchasing any type of investment or insurance product, it is important that you do your own due diligence and that you consult a properly licensed professional if you should have any specific questions that relate to your individual circumstances. All names, marks, and materials that were used for this review are the property of their respective owners.How Nationwide Insurance Company Describes the Peak Annuity
Nationwide describes the Peak fixed indexed annuity as a single purchase payment deferred fixed indexed annuity with features that can help to protect your money as you accumulate retirement savings. The Nationwide Peak offers a number of benefits that can be enticing for those who are seeking tax-deferred build up of principal, as well as lifetime income, as it provides:- Protection from market-related risk
- Growth potential with guarantees
- Protection for a spouse
- S&P 500
- MSCI EAFE Index
- Morgan Stanley 3D Index
- J.P. Morgan Moziac ll Index
How a Financial Advisor Might “Pitch” the Nationwide Peak
Because people are living so much longer today than ever before, having enough income in retirement has become a top concern for many retirees. With that in mind, the guaranteed income concept of the Nationwide Peak fixed indexed annuity is most likely where an insurance or financial advisor would focus on when presenting this product to clients or prospects. In addition, the tax-deferred growth of your money inside of the contract can also be a bonus – and it could even allow for an additional option for tax-advantaged accumulation, even if you have “maxed out” other alternatives like an IRA and/or employer-sponsored retirement plan. But even with all of these awesome features, you really need to be careful, as there are some “tradeoffs” you may need to make with this product. For instance, even though you have the ability to obtain a positive return based on the performance of an underlying index (or indexes), the upward potential is capped. In other words, this annuity uses an annual index rate cap, which is another way of saying that there is a maximum amount of return you can earn each year – even if the underlying index(s) have a stellar performance. In this case, if the cap on earnings is 4%, and the underlying index return 6%, you will only receive 4% for that time period. In addition, excess withdrawals will void any income credits, and can even reduce the income base.What About Any Fees on the Nationwide Peak Annuity?
There are no annual contract or administration fees on the Nationwide Peak annuity. However, if you need to withdraw money from the annuity during the first seven years (aka, during the annuity’s surrender period), you will incur a fee.Nationwide Peak Annuity Withdrawal / Surrender Charges
Completed Year | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7+ |
---|---|---|---|---|---|---|---|---|
Fee % | 9 | 8 | 7 | 6 | 5 | 4 | 3 | 0 |
The Annuity Gator’s End Take on Nationwide’s Peak Fixed Index Annuity
Where it works the best: Although this fixed indexed annuity offers many nice benefits, it will typically work the best for those who are seeking the following attributes:- Safety of principal
- The opportunity for additional, index-linked growth, which can provide a higher return than a regular fixed annuity
- Guaranteed income for life
- Will need access to their funds within the annuity’s 7-year surrender charge period
- Do not intend to use the lifetime income feature
In Summary
While there are many factors that need to be taken into consideration when you are buying an annuity, one of the biggest concerns is making sure that the annuity is truly right for what you want – and need – it to do. With regard to the Peak fixed index annuity from Nationwide, you can rest assured that you will have an income for life. But at the same time, depending on your other goals and needs, this product may still fall a bit short – and there quite frankly could very well be something else out there that is a better fit for you. If you have any additional questions on this or other income related products, we are here to help. We can also run side by side annuity comparisons in order to determine how various annuities might perform. So please feel free to contact us directly via our secure online contact form here.Do You Have Any Additional Questions About this Annuity? Did You Happen to Notice Any Mistakes on this Annuity Review?
We realize that this annuity review may have run a bit long. But quite frankly, we would much rather that you have “too much” information on this product than to not have enough. So, if you found this annuity review to be beneficial, please feel free to pass it on and to share it with other people who could also find value in it. (And, if you found it to be confusing, please also let us know that, too.) In addition, we are aware that information regarding annuities can, and often does, change. So, if you happened to notice anything in this review that should be updated or revised, let us know and we will be happy to make the necessary edits. Any other annuities that you would like to learn more about? If so, just give us a shout and let us know, and our team will get to working on them right away. Best, The Annuity Gator P.S If you would like to read more of our Nationwide annuity reviews here are some links to check out:- Nationwide Destination C Variable Annuity
- Nationwide New Heights 12 Annuity
- Nationwide Summit Fixed Indexed Annuity
- Nationwide New Heights 9 Fixed Indexed Annuity
- Nationwide Life Destination Architect 2.0 Variable Annuity
- Nationwide Life MarketFlex Advisor Variable Annuity
- Nationwide Best of America Future Venue Variable Annuity
- Nationwide Advisory Solutions Single Premium Immediate Annuity
- Nationwide INCOME Promise Select Single Premium Immediate Annuity

Rick Carrell
Hello
Can you run comparison between several annuities? Can you give results from different sceneries? I know brokers can,but you don’t always get the fine print? How long have you been in business? What city and state are you in? What kind of experience do your advisors have? Are you any kind of a broker? I’m just looking for some unbiased advice. What and how do you charge? Sorry for all the questions? Thanks
Annuity Gator
Hi Rick– Thank you for your message.
Our Annuity Gator experts will be happy to compare any annuity for you and contemplate all the different scenarios. You can find out more about the advisors who work with us by looking at the “About Us” section on our website.
In order to best support you, we will need some additional information from you. Rather than sending information back and forth via email, we would prefer you contact us directly, toll-free, at (888) 440-2468 to chat with one of our annuity specialists or visit http://annuitygator.com/contact/
We look forward to hearing from you.
Best.
Annuity Gator