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New Nationwide Peak 10 Annuity Just Launched

This Nationwide Peak 10 Annuity Review will cover Nationwide financial ratings, product type, features, income rider, fees, and the pros and cons. The Nationwide Peak 10 is the latest of many innovative annuities offered by Nationwide insurance.

As a fixed index annuity, it offers principal protection; however, it is worth noting that you may still lose money in an indexed annuity should you withdraw your funds before the end of your contract. When you purchase an annuity contract you make a commitment to leave your money in the contract for a specified period and in exchange, you receive insurance that your account value will not lose value due to the market.

I need to mention that this Nationwide Peak 10 Review is just that, an independent and unbiased annuity product review. Nationwide has not endorsed this review and we are not being compensated for you. Index annuities are complex financial products and you should review your options carefully and consult with a financial advisor and/ or tax accountant prior to making any decisions.

Nationwide Financial Ratings

When considering an annuity purchase it is always important to consider the financial strength of the issuing insurance company all guarantees are subject to the claims-paying ability of the insurer.

Nationwide has an A+ A.M. Best Rating and Standard and Poor’s Rating, an A1 rating from Moody’s, and a 90 Comdex Score. In addition to their strong financial ratings, Nationwide has been serving clients since 1925 and is a Fortune 100 Company.

These ratings are certainly extraordinarily strong; the 90 Comdex score indicates they are in the top 90th percentile of all rated insurance companies.

Nationwide Life & Annuity CompanyRating
One Nationwide Plaza, Columbus, OH 43215
A.M. Best Rating (15 possible ratings)A+ (2)
Moody's (21 possible ratings)A1 (5)
Standard & Poor's (Financial Strength, 20 Ratings)A+ (5)
Comdex (percentile of all rating companies)90

Nationwide Peak 10 Fixed Index Annuity

The Nationwide Peak 10 is a fixed indexed annuity which means it offers potential returns based on the changes in an underlying index, such as the S&P 500® Composite Stock Price Index.

  • It can receive earnings when the underlying index goes up
  • Its principal and earnings are also protected when the underlying index goes down

Fixed indexed annuities also offer a specified minimum that the contract value will not fall below, regardless of index performance. A fixed indexed annuity isn’t a stock market investment, nor does it directly participate in any stock or equity investment.

Indexed annuities are growing in popularity because they offer growth potential and principal protection. In addition, many offer additional income riders that provide guaranteed lifetime income.

Nationwide peak 10 review infographic of need for annuities

Nationwide Peak 10 Annuity Reviewed

The Nationwide Peak 10 is a 10-year fixed index annuity with no fees. There are however two optional lifetime income riders available for purchase. With the Nationwide Peak 10, you have your choice of four unique market indexes to allocate your funds to as well as a fixed account. You can allocate to any or all of them and are given 30 days at your anniversary to re-allocate.

There are also two different crediting terms and 3 different crediting methods to select from:

Download Nationwide Peak 10 Annuity Rates

Crediting Terms

  • One year point-to-point
  • Two-year point-to-point

Crediting Methods

  • Spread
  • Participation Rate
  • Cap

Nationwide Peak 10 Market Indexes Options

AB Growth and Value Balanced IndexSM

This index is designed to offer more consistent returns with dynamic equity exposure that rotates between growth and value, duration-managed bonds to help navigate interest rate changes, and diversification and target volatility to help stabilize results.


J.P. Morgan Cycle IndexSM

This index is designed to passively outperform the market with equity style rotation to align with the business cycle, bond allocation rebalancing based on current market conditions and domestic-focused, “smart beta” asset allocation.


S&P 500® Index

Widely recognized as the leading indicator of the performance of the American economy and one of the most commonly followed equity indexes, the S&P 500 has nearly 60 years of history and consists of 500 large-cap, publicly traded companies.


S&P 500® Daily Risk Control Index

This index is designed to provide access to the S&P 500® Index while limiting risk exposure to 5%, regardless of market conditions. When S&P 500 volatility exceeds 5%, this index allocates enough assets to cash to maintain the 5% volatility target. When S&P 500 volatility is at or below 5%, this index allocates assets fully into the S&P 500.

Nationwide Peak 10 Product Specifics

ISSUE AGES: The maximum issue age for the annuitant is 85 for single or joint life contracts. The contract owner can be of any age.

CONTRACT TYPES: Nonqualified, traditional IRA, Roth IRA, SEP-IRA, SIMPLE IRA, charitable remainder trust, and 401(a).


INTEREST RATE BANDS: Tiers give you the opportunity to earn more, based on how much you invest in your annuity. The fixed account and index account offer two different tiers of fixed rates, based on premium: $0–$99,999 and $100,000 or more.

LONG TERM CARE CONFINEMENT WAIVER: 100% of the contract may be withdrawn penalty-free if you are confined to a nursing home for a continuous 90-day period; confinement must begin after the contract is issued and may not be available in all states; maximum issue age is 80.

Free Withdrawals up to 10% of your account value annually: (keep in mind that any distributions prior to age59 may be subject to a 10% early withdrawal federal tax penalty)

Terminal illness or injury waiver: 100% of the contract value may be withdrawn penalty-free after the first contract year if terminal illness or injury is diagnosed after the contract is issued; maximum issue age is 80; not available in NJ; in CT, available only after the second contract anniversary.

Required minimum distributions, even if they exceed 10% of your contract value; please keep in mind that money withdrawn from the index account during the index term will forfeit potential earnings that would have been credited at the end of the term

Excess withdrawals: You may withdraw more than your free withdrawal amount in a given contract year, but keep in mind that charges and penalties may apply. In the first 10 years of your contract, withdrawals in excess of the 10% will be subjected to a surrender charge and, if applicable, a market value adjustment (MVA). The surrender charge schedule is a percentage of the withdrawal according to the following schedule:

Completed years












Surrender charge












Death Benefit: A joint option is also available if the contract owner names a spouse as a co-annuitant. This feature allows a death benefit to be paid to the surviving spouse, no matter who passes away first or who owns the contract. The surviving spouse also has the option to continue the annuity contract at the death benefit value. Any remaining surrender charge or MVA would no longer apply to the contract. The death benefit will be equal to the contract value.

Nationwide Peak 10 Annuity Guide

Guaranteed Lifetime Income Riders

With Nationwide Peak 10, you can receive guaranteed lifetime withdrawals that will never decrease, even if your contract value drops to zero. You have two choices to consider:

  1. Guaranteed Income Solution
  2. Bonus Income+ Rider

Guaranteed Income Solution

This is a built-in feature of your annuity and included at no additional cost. It offers a 4% simple interest roll-up on the income benefit base (your premium) for 10 years or until the first withdrawal, whichever comes first.  You’ll know the minimum amount you will receive, and it’s guaranteed for your lifetime.

Guaranteed 4% simple interest roll-up rate on your original Income Benefit Base each year for the first 10 years or until your first withdrawal, whichever comes first.

Guaranteed lifetime income that won’t decrease, even if your contract value goes to zero. Your income will be based on your age when you take your first-lifetime withdrawal.

When you need retirement income

The Guaranteed Income Solution can provide a steady stream of income that’s guaranteed for the rest of your life — even if your contract value falls to $0.
The income phase allows you to turn the growth of your contract or the Income Benefit Base into income by taking lifetime withdrawals.

Income Benefit Base: The numerical value used to calculate your lifetime withdrawals; it is not a cash value.
On each anniversary, it will be the greater of Contract value or the Income Benefit Base

50–59 3.50%
60–71 4.00%
72+ 4.50%

Here are a couple of examples:

Nationwide peak 10 review infographic examples of how guaranteed lifetime income works

Bonuse Income+ Rider

This is available at an additional cost (1.00% — single life; 1.30% — joint life). It adds a 10% credit to the income benefit base (your premium) and offers a 7% simple interest roll-up from there for 10 years or until the first-lifetime withdrawal, whichever comes first. Plus, you’re allowed one non-lifetime withdrawal that will neither stop the roll-up nor lock in the lifetime withdrawal percentage.

Rider Highlights:

  • A 10% bonus credit included in your Income Benefit Base, calculated on total premium: no vesting schedule
  • A 7% simple interest roll-up rate on the Income Benefit Base for the first 10 years or until your first lifetime withdrawal, whichever comes first
  • Guaranteed lifetime income1 that will not decrease, even if your contract value goes to zero
  • A joint option, available at an additional cost, for the continuation of income for the surviving spouse
  • No waiting period to begin your lifetime withdrawals
  • A non-lifetime withdrawal,2 which provides the ability to take one non-lifetime withdrawal that will not stop the 7% simple interest roll-up rate on the Income Benefit Base and will not lock in the lifetime withdrawal percentage
The below table lists the lifetime payout percentages by age.
Nationwide peak 10 lifetime withdrawal percentage table for bonusplus income rider
If you purchase the Nationwide Peak 10 with Bonus Income Rider at age 65 and decide to wait 10 years until you take any withdrawals, your Income Benefit Base and lifetime withdrawal percentage could be higher, resulting in more income.
Let’s assume that after 10 years, your Income Benefit Base is $187,000 and the withdrawal percentage is 5.95%. In this scenario, your annual lifetime withdrawal amount would be $11,126.
Peak 10 bonus plus income rider example graphic

Care Concierge

Perhaps the most unique feature of the Nationwide Peak 10 is the Care Concierge. The policy owner and all immediate family get access to this care concierge service.

Nationwide Care Concierge gives you access to Health Advocate, which provides guidance on many of the complex questions and issues that can come up in retirement, including:

Finding the right medical care: Locate leading health care providers, arrange treatments and tests and expedite appointments.

Finding the right medical care: Untangle medical bills and help resolve medical claims, billing issues, and claim denials.

Provide Licensed Professional Counselors: Receive confidential help on a wide range of issues, with services available in person, by phone, and via secure video.

Resolving Medical Insurance Claims: Address elder care issues such as finding assisted living and adult day care providers for you and your eligible family members.

Pros and Cons of Nationwide Peak 10


  • Unique indexes including the Alliance and Bernstein Growth Value and JP Morgan Cycle index. 
  • Care Concierge is a value-add feature to the product that lets the policyholder and immediate family members have access to telehealth, additional health-related resources.
  • Can issue out to age 85
  • Nationwide is an ANNUITANT driven company
  • Nationwide is the ONLY company to allow such a feature in Qualified Dollars (IRA’s, SEP, Roth IRA’s)
  • Nationwide allows a Co-Annuitant to be named to the contract (This means that a Death Benefit is triggered in the event of either spouse passing away-REGARDLESS of who passes first) 
  • Great way to double a death benefit and allow the surviving spouse to choose to continue the course…or restructure income/product that fits their income needs at that time.
  • Income Rider built-in at no cost and the option to purchase an income rider to guarantee more lifetime income if that is your primary objective.


  • A 10-year surrender charge schedule is a long time if you do not intend to these funds into a lifetime income.
  • Brand new index so not a lot of history on how it will perform.
  • Index crediting rates likely won’t allow the Peak 10 to accumulate quite as well as some other annuities on the market (if accumulation is your primary objective).

Annuities are distributed by My Annuity Store, Inc. Guarantees are subject to the claims-paying ability of the insurer. My Annuity Store, Inc. does not advise clients on the purchase of non-fixed annuity products. The information presented here is not of tax or legal nature and is not intended to be a recommendation to purchase a fixed annuity, fixed index annuity, variable annuity contract, registered index linked annuity (RILA), immediate annuity (SPIA), longevity annuity, or Qualified Longevity Annuity Contract (QLAC). 

The contract features described may not be current and may not apply in the state in which you reside. Annuities are issued by Insurance companies and contracts are ‘state-specific’. Insurance companies also change their products and information often and without notice. Annuities are subject to the terms and conditions of the specific contract issued by the insurer, are not FDIC or NCUA insured, are not bank guaranteed, may lose value, and are not a deposit. Please call (855) 583-1104 if you have any questions or concerns. 

The information presented here is not a representation regarding the suitability of any concept or product(s) for an individual and it does not provide tax, accounting or legal advice. It is important to read the prospectus carefully and consider your objectives, risks, fees and charges associated with the contract. You should always consult your own financial planning, tax, and legal counsel to determine if a fixed annuity, immediate annuity, longevity annuity, or Qualified Longevity Annuity Contract are suitable in your financial situation.


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Kiara Caudill

Kiara Caudill

I spent the first 10 years of my career as a clinical mental health therapist and I saw firsthand that finances play a large role in one’s happiness. A good financial plan is not only important to your financial health it’s also important to your mental health. I approach financial planning from a behavioral finance perspective using a goals-based approach. Kiara holds a B.A. Degree in Psychology from Goshen College and an M.A. in Clinical Mental Health Counseling from Valparaiso University.

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