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Fixed Indexed Annuity

Summit

Nationwide Life Insurance Company

7.6%

Best Cap

10%

Free W/D

50

Jurisdictions

Product data status: May 29, 2026

Rates, state availability, rider terms, and contract language must be confirmed with a licensed financial advisor or insurance professional before purchase. Guarantees are backed by the issuing insurer.

Live product data

Rates as of May 28, 2026, based on the latest AdvisorWorld scan of CANNEX data.

S&P 500 annual point-to-point cap

7.6% cap on S&P 500

An A+-rated 7-year accumulation-focused fixed indexed annuity from Nationwide with S&P 500 and J.P. Morgan Mozaic II annual point-to-point cap exposure, a compact strategy menu, and a six-figure premium minimum.

1-year termAdvisorWorld + CANNEX data

Best fit

Accumulation buyers with a sizeable balance to deploy who want a mid-length 7-year surrender, recognizable S&P 500 cap exposure, and a simpler, easier-to-model two-strategy menu than the broader Peak lineup.

AM Best

A+ Superior

Surrender period

7 years

Free withdrawal

10%/yr

Availability

50 jurisdictions (excl. New York)

Featured crediting strategies

Index / strategyRate mechanics

S&P 500

S&P 500 Index

7.6% cap rate

S&P 500

S&P 500 Index

7.35% cap rate

Rate varies by premium band.

Fixed Account

Fixed Account

4% declared rate

Fixed Account

Fixed Account

3.9% declared rate

Rate varies by premium band.

+ 2 volatility-controlled index options (J.P. Morgan...)

Product analyst notes

How to think about this contract

Why it can stand out

  • Compact strategy menu — S&P 500 plus J.P. Morgan Mozaic II — makes this an easier contract to model and compare versus FIAs that bundle four or five proprietary indices.
  • A.M. Best A+ from a top-tier national carrier with three-agency coverage (Moody's A1, S&P A+) — the strength view does not depend on a single rating.
  • Wide free-withdrawal allowance — generous penalty-free liquidity for a 7-year FIA.
  • Fixed-rate option in the strategy menu alongside the indexed strategies — gives buyers a clear floor option without leaving the contract.

What to confirm

  • The premium minimum is a meaningful threshold — not designed for small first-time annuity buyers. Confirm the exact figure in the carrier's filing.
  • No optional GLWB rider and no built-in PIV income mechanism — accumulation-only product; buyers shopping primarily for lifetime income should look at a different Nationwide product.
  • Narrower strategy menu than Peak — no MSCI EAFE or Morgan Stanley 3D option here. Buyers wanting wider proprietary-index choice would find more optionality in Peak or Peak 10.
  • Death benefit details, MVA terms, and bailout rates aren't always shown on this page — confirm contract-level mechanics with the carrier before purchase.

Not ideal for

Buyers who need lifetime income from a rider, anyone unable to meet the six-figure premium minimum, anyone wanting MSCI EAFE or other broader proprietary-index choices (look at Peak or Peak 10), or buyers who can't lock funds up for the 7-year surrender period.

All crediting strategies

View rate listings (6 rows)

These are the current crediting strategy listings returned for this product. Use the filters to narrow by index, term, premium band, or rate type.

Cap: 10% · 1-yr

J.P. Morgan Mozaic II Index

cap

7-yr surrender$100,000+

Cap: 7.6% · 1-yr

S&P 500 Index

cap

7-yr surrender$100,000+

Fixed: 4% · 1-yr

Fixed Account

fixed

7-yr surrender$100,000+

Cap: 9.5% · 1-yr

J.P. Morgan Mozaic II Index

$100,000+

Cap: 7.35% · 1-yr

S&P 500 Index

$100,000+

Fixed: 3.9% · 1-yr

Fixed Account

$100,000+

Income riders

Accumulation-focused — no income rider

This contract is designed for tax-deferred accumulation, not guaranteed lifetime income. No GLWB rider was returned because none is part of the contract design — compare against other accumulation FIAs on cap, participation rate, and surrender terms rather than lifetime income.

Linked review

Summit review notes

Discover the Nationwide Summit Fixed Indexed Annuity with tax-deferred growth, downside protection, and income focus. Explore rates, costs, and more.

3/5Read review
Nikhil Bhauwala

Key Features

Free withdrawal

10%/yr

Annual amount that may be available without surrender charges, subject to contract terms.

Surrender waivers

2

Nursing home waiver, Terminal illness waiver

Death benefit

Standard Death Benefit

Beneficiary value depends on contract terms, withdrawals, and rider elections.

Strategy guarantee

Minimum guaranteed cap: 3.00%

Strategy guarantee

Guaranteed minimum interest rate (fixed): 1.00%

Strategy guarantee

Minimum guaranteed participation: 100.00%

Annuitization options

Single and joint

Contract conversion options should be confirmed before purchase.

Fund types

Non-qualified, Qualified

Availability can vary by state and product terms.

Surrender schedule

Yr 1

9%

Yr 2

8%

Yr 3

7%

Yr 4

6%

Yr 5

5%

Yr 6

4%

Yr 7

3%

After

0%

Nursing home waiver, Terminal illness waiver, Surrender waivers

Documents

product guide

Nationwide Life Summit brochure.pdf

Confidence: highReviewed Apr 9, 2026

Direct link not published — request the document from the carrier.

Carrier Ratings

AM BestA+
S&PA1
S&PA+

Contract notes from product data

Crediting design

How the interest-crediting choices are framed

Summit currently shows 6 indexed or fixed crediting options, including S&P 500 Index and Fixed Account, with 2 volatility-controlled index options grouped separately. These choices matter because caps, participation rates, fixed accounts, spreads, and renewal terms are different mechanics and should not be ranked as one simple rate list.

  • S&P 500 Index: 7.6% cap
  • S&P 500 Index: 7.35% cap
  • Fixed Account: 4% fixed

Liquidity terms

Why access rules deserve as much attention as rates

A fixed indexed annuity can preserve more control than an income-only contract, but access is still governed by the surrender schedule, free-withdrawal terms, and waiver language. Those details are where many product comparisons become more meaningful than a simple rate list.

  • 10%/yr free withdrawal
  • 7 surrender years
  • Nursing home waiver
  • Terminal illness waiver

Verification note

Use carrier materials as term evidence, then confirm the current version

Carrier materials such as Nationwide Life Summit brochure.pdf help explain the contract language behind the data on this page; the latest document activity we see is Apr 24, 2026. For the current brochure, rate sheet, or specimen contract, confirm the state-specific version with the carrier or a licensed financial professional.

  • Rates and rider terms can vary by state and issue age
  • Carrier guarantees depend on claims-paying ability
  • Current contract forms should be confirmed before purchase

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