Nationwide New Heights 8 Annuity

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New Heights 8 by Nationwide Financial is an eight year fixed indexed annuity. It provides a 8 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 8 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 0-80 years for annuitants. Owners may be of any age.

Minimum initial investment

  • Minimum qualified payment- $10,000
  • Minimum non-qualified payment- $10,000

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

For the Nationwide New Heights 8 annuity, available indices include the S&P 500 Composite Index, JP Morgan MOZAIC II Index, NYSE Zebra Edge and the MSCI EAFE.

Surrender charges

Also known as CDSC charge, this will be an 8-year declining charge. The charge is a percentage charged on withdrawals above the free value amount. This starts at 8% for the first year then 7%, 6%, 5%, 4%, 3%, 2%, 1% and 0% for the ninth year onwards.

Free withdrawals

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 eighth 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 or is diagnosed with a terminal condition from which they are not expected to recover.

Annuity advantages

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