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Daily Coverage

Long-Term Care Insurance policies pay a daily amount towards home care, assisted living, or nursing home. Home care is the most common claim, with 75% of claims starting at home.

Plan Duration

Average claim: 2.9 years. Assuming you don’t have a crystal ball, you don’t know how long you’ll need Long Term Care for. The chance of needing Long Term Care is 1 in 2, but the chance of needing it for over five years is much smaller. Like any insurance, you may buy this and never use it, so finding a balance is key.

Return of Premium

Add this option and you’ll be able to leave your beneficiary the total sum of all of your premiums paid, less any claims you’ve made. If the thought of buying this and never using it bothers you, guarantee a return of funds with Return of Premium.

Home Health Care on Day 1

Coverage for care at home is available with no waiting period. This 10-15% extra option is the most popular add-on rider.

Shared Coverage

Women make longer claims than men, on average. Hedge your risk with your spouse by adding a Shared Care rider to your policy.

Inflation Protection

If you're buying this thinking of using in the future, include inflation protection.

Nationwide New Heights 12 Annuity

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New Heights 12 by Nationwide Financial is a 12-year single-purchase payment fixed, tax deferred indexed annuity. It provides a 12 year CDSC (Contingent Deferred Sales Charge) Schedule. The annuity is aimed at annuitants who fear the volatility in markets but still seek growth to account for inflation and increased expenses.

Nationwide New Heights 12 Details

Return of payment purchase guarantee

This guarantees that at least 100% of the annuitant’s purchase payments less their gross withdrawals will be available in case of contract surrender, death benefit payment, terminal illness or long-term care.

Issue age

The issue age is 0-75 years for annuitants. Owners may be of any age. The maximum age in FL is 64 years.

Minimum initial investment

  • Minimum qualified payment- $25,000
  • Minimum non-qualified payment- $25,000

Rider availability

There are two riders available for living and death benefit. The Nationwide High Point 365 Lifetime Income Benefit Rider and the Nationwide High Point Enhanced Death Benefit Rider.

Balanced allocation

This is the formula the company uses to determine the amount that the annuitant will earn and increase their contract value. This will be composed of the interest rate component, equity index component and a strategy spread.

Available indices

These include the S&P 500 Composite Index, JP Morgan MOZAIC II Index, NYSE Zebra Edge and the MSCI EAFE. A Fixed Indexed Annuity (FIA) is however not a stock market investment.

Surrender charges

Also known as CDSC charge, this will be a 12-year declining charge. The charge is a percentage charged on withdrawals above the free value amount. This starts at 10% for the first year then 10%, 10%, 10%, 10%, 9.5%, 9%, 8%, 7%, 6%, 5%, 4%, and 0% for the thirteenth year onwards. The exact amount charged will be the percentage multiplied by the amount above the free withdrawal figure.

Free withdrawals

For the Nationwide New Heights 12 annuity, annuitants can withdraw up to 7% of their contract value at the start of each term. Free withdrawals are however not available for the first year. After the 12th year, the annuitant can withdraw up to 10% of their account value without incurring withdrawal charges.

Death benefit

The death benefit will be the greater of the balanced allocation value or the surrender value of the contract. A joint death benefit option is also available. This ensures that a surviving joint annuitant receives the benefit or continues with the annuity contract.


The annuity provides waivers for withdrawals made in case an annuitant encounters a long term care, injury or is diagnosed with a terminal condition from which they are not expected to recover.

Potential Benefits

  • Tax deferrals provide growth potential
  • Guaranteed income with optional rides
  • Potential benefits of positive index performance
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