Nationwide Secure Growth Annuity 7
Minimum Deposit: $10,000 | 5.15%
Deposits $100,000+ | 5.35%
The Nationwide Secure Growth 7 is a 7 Year Fixed Annuity designed to be a high-yield retirement savings account.
A fixed annuity or MYGA may be suitable for conservative investors who are looking for a safe and steady way to grow their retirement savings.
A+ Nationwide Secure Growth 7 Year Fixed Annuity
Compound Interest ($100,000 or more) 5.35%
5.15% Interest for deposits of $10,000 - $99,999
Annual Free Withdrawals 10%
Systimatic withdrawals of interest is allowed
Nationwide Secure Growth 7 Details
It’s never too early to start planning for retirement. Selecting a strategy that works best involves assessing your goals, time horizon, and risk tolerance.
The Nationwide Secure Growth 7 Annuity is a single premium, multi-year guarantee annuity. An annuity is a long-term contract issued by an insurance company. In exchange for a premium payment, the insurance company agrees to make payments to you in the future.
This annuity provides an accumulation value that earns interest through a fixed account with a guaranteed interest rate that is set for a 3-, 5- or 7-year period. This annuity also provides several options for accessing funds.
The Nationwide Secure Growth 7 may be appropriate for individuals who:
- Want a CD alternative due to low CD rates.
- Seek to accumulate money for retirement.
- Have a conservative risk tolerance and want to invest an inheritance or other lump sum.
- Want to secure a fixed annuity payment but not immediate income.
1. Withdrawal any amount free of charges and fees.
2. If you do nothing, the contract renews for the same term at the rates available at that time. Renewal rates for guarantee periods will be based on current economic conditions and are guaranteed to be no less than the guaranteed minimum interest rate of .50%.
Not available in: CA, NY, DE
- fixed index annuities (FIAs)
- traditional fixed annuities
- multi-year guarantee annuities (MYGAs)
- single premium immediate annuities (SPIAs)
Nationwide is a Fortune 100 company that offers a full range of highly ranked insurance and financial solutions.
In 2021, total investments increased to $130.8 billion, up from $125.5 billion in 2020. Net investment income of $5.3 billion in 2021 was up from $4.1 billion in 2020, driven primarily by alternative investments.
Nationwide is rated A+ by AM Best, A+ by Standard & Poor’s, A1 by Moody’s and has an 89 Comdex Score.
|A.M. Best Company (Best's Ratings, 15 Ratings)||A+ (2)|
|Superior. Assigned to companies that have, in our opinion, a superior ability to meet their ongoing obligations to policyholders.|
|Standard & Poor's (Financial Strength, 20 Ratings)||A+ (5)|
|An insurer rated 'A' has STRONG financial security characteristics, but is somewhat |
more likely to be affected by adverse business conditions than are insurers with higher
|Fitch Ratings (Financial Strength, 21 Ratings)||A+ (5)|
|Strong. 'A' IFS ratings denote a low expectation of ceased or interrupted payments. They indicate strong capacity to meet policyholder and contract obligations. This capacity may, nonetheless, be more vulnerable to changes in circumstances or in economic conditions than is the case for higher ratings.|
|Weiss (Safety Rating, 16 Ratings)||B (5)|
|Good. The company offers good financial security and has the resources to deal with a variety of adverse economic conditions. It comfortably exceeds the minimum levels for all of our rating criteria, and is likely to remain healthy for the near future. However, in the event of a severe recession or major financial crisis, we feel that this assessment should be reviewed to make sure that the firm is still maintaining adequate financial strength.|
|Ranking (Percentile in Rated Companies)||89|
|The Comdex gives the average percentile ranking of this company in relation to all other companies that have been rated by the rating services. The Comdex Ranking is the percentage of companies that are rated lower than this company.|
Learn more about what these financial ratings mean