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By adding the feature to your annuity, at no additional cost, you ensure that the surviving spouse has the option to either:
  • Receive a guaranteed death benefit, with no surrender charges, as a lump sum payment, or
  • Continue the contract at the higher of the death benefit or contract value with all surrender charges waived. If the contract is continued, a new beneficiary can be designated who may receive a death benefit when the surviving spouse passes away.

A Spousal Protection Death Benefit Feature also is available on IRAs

This feature is even available on IRAs where there is a single owner. Nationwide variable annuities are annuitant-driven, which gives them more flexibility. That’s important since IRAs can have only one account owner with a death benefit that’s paid to the contract beneficiary.

With spousal protection, an IRA account owner can be named annuitant and their spouse co-annuitant; both can be named a beneficiary. As a result, the death benefit will go to the surviving spouse, no matter which spouse passes away first.

See how it works

Our client guide helps explain how the Spousal Protection Death Benefit can help you and your spouse provide for each other regardless of who passes away first, even if only one of you owns the contract.

Client guide

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Offers growth potential and guaranteed lifetime income, without the high fees.

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Nationwide Destination Freedom+℠

Offers competitive, low-cost, investment-focused variable annuity (IFVA).
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This feature is available for no additional cost.

When evaluating the purchase of a variable annuity, you should be aware that variable annuities are long-term investment vehicles designed for retirement purposes and will fluctuate in value; annuities have limitations; and, investing involves market risk, including possible loss of principal.

A variable annuity is a contract you buy from an insurance company. It's designed to help accumulate assets to provide income for retirement. It will fluctuate in value based on the performance of the underlying investment options. You should also know that all guarantees and protections of a variable annuity are subject to the claims-paying ability of the issuing insurance company. They don't apply to the investment performance or safety of the underlying investment options. Underlying subaccounts are only available as investment options in variable insurance contracts issued by life insurance companies. They are not offered directly to the general public.

You may be charged a penalty if you take your money out early, if you're not yet 59½ (additional 10% tax penalty), or both. Variable annuities have fees and charges that include mortality and expense, administrative fees, contract fees, and the expense of the underlying investment options.

Variable products are sold by prospectus. Both the product prospectus and underlying fund prospectuses can be obtained from your investment professional or by writing to Nationwide Life Insurance Company, P.O. Box 182021, Columbus, OH 43218-2021. Before investing, carefully consider the fund's investment objectives, risks, charges and expenses. The product prospectus and underlying fund prospectus contain this and other important information. Read the prospectuses carefully before investing.