Independent Review of the Nationwide Peak Fixed Indexed Annuity

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

Look familiar? In addition, the more “bells and whistles” an annuity has, the more small print you are likely to come across. Not that it’s a bad thing, but it can make shopping for the right annuity much more cumbersome. That being said, if you have landed here in search of more details on the Nationwide Peak annuity, then you are definitely in the right place. In fact, we dare say that this is the only website where you can find all of the information you need. This includes an honest review of the good, the bad, and yes, even the ugly. But that way, you will be able to make a much better decision regarding whether or not this is truly the best annuity for you. So, if you’re ready to get started, let’s dive in!

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

Given that fixed indexed annuities have become a financial solution of choice for many retirees and those who are approaching retirement, Nationwide has added to its product lineup with the Peak FIA. A fixed indexed annuity is oftentimes touted as the “best of all worlds,” because they allow their owners a way to secure a positive return in good times and to hang on to their principal value during market downturns. But it is essential to know all of the in-depth details about a fixed indexed annuity you are considering before you move ahead with depositing a large chunk of your money into one – as it can be difficult, and costly, for you to get out if you later realize that it really isn’t the best option for you. You can access our annuity buyers guide HERE for more information on how fixed index annuities work, and to help you determine whether or not this type of annuity would be right for you and your specific objectives.

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

This annuity offers two different accounts – a fixed and an index – as do other fixed indexed annuities. You can allocate your money into one or both accounts, provided that the total allocation equals 100%. With the fixed account, the annual interest rate is credited daily, and with the index account, the earnings are credited annually, based on the performance of the underlying index (or multiple indexes) – up to a “cap,” or maximum. The indexes that are associated with the Peak annuity from Nationwide Insurance Company include the:

• S&P 500
• MSCI EAFE Index
• Morgan Stanley 3D Index
• J.P. Morgan Moziac ll Index

There are a couple of other “bells and whistles” included with this annuity, including a long-term care/confinement waiver, and a terminal illness waiver. So, if you qualify, you may be able to access up to 100% of the contract value, penalty-free, for these needs. To take a peek at the product guide for the Nationwide Peak fixed indexed annuity, just go HERE.

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

In addition, if the distribution(s) from the annuity occur before you turn age 59 ½, you could also incur an “early withdrawal” charge of 10% from the IRS. You may also be subject to a market value adjustment (MVA) on your remaining funds in the annuity. With that in mind, this (and for that matter, any) annuity should be considered a long-term financial commitment. So, the money that you contribute to this annuity should not consist of funds that you might need to access for an emergency in the future.

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

Where it works the worst: Conversely, there are some areas where this product may not be the best option. That may be for people who:

• Will need access to their funds within the annuity’s 7-year surrender charge period
• Do not intend to use the lifetime income feature

If you are still considering the purchase of the Peak annuity from Nationwide, but you’re currently on the proverbial fence regarding whether or not it will be right for you, we can help you to “test” it, based on your specific scenario, at no cost or obligation. Just let us know if this is something that you are interested in doing, and we’ll get on the case right away!

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