Nationwide Life Insurance Company
For nearly 100 years, Nationwide has been offering a full range of insurance and financial services across the country, including annuities, mutual funds and retirement plans. Currently based in Columbus, Ohio, Nationwide is a Fortune 100 company with over $295 billion in assets.
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- Updated: January 10, 2023
- 5 min read time
- This page features 11 Cited Research Articles
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Nationwide began as the Farm Bureau Mutual Automobile Insurance Company, selling its first policy in 1926. During the 1930s, the company expanded into fire and property insurance before moving into life insurance with the acquisition of the Life Insurance Company of America.
In 1955, Farm Bureau Mutual changed its name to Nationwide, indicating its goal to move beyond regional coverage and offer products from coast to coast.
Beginning in the 1960s, Nationwide pioneered a number of insurance industry firsts, including endorsing Medicare before being required by law, offering a medical benefits incentive to policyholders wearing a seat belt at the time of an automobile accident, and opening the first 24-hour claims reporting service.
Today, Nationwide is a Fortune 100 company based in Columbus, Ohio. Controlling over $295 billion in assets in 2022, Nationwide offers a full range of insurance and financial services across the country, including annuities, mutual funds and retirement plans.
Variable and fixed annuities are investments that offer many benefits to an investor. Contact a qualified investment advisor to see which type works best for your investment goals.
Credit ratings, also called financial strength ratings, offer consumers insight into the financial stability of an annuity provider. These scores are issued by independent credit rating agencies.
If you’re interested in purchasing an annuity, it’s a good idea to investigate the ratings of the company you’re looking at before you buy. The higher the rating, the more you can trust that the insurance company can uphold its end of an annuity contract.
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Types of Nationwide Annuity Products
Nationwide offers a variety of types of annuities to help customers grow their retirement savings.
Deferred variable annuities allow clients and advisors to determine how assets are invested across a range of investment options, including stocks, bonds and money markets.
As the value of these investments fluctuate with the market, the value of the contract will move up and down over time. For this reason, variable annuities are best suited to investors who can withstand some market risk in exchange for potentially higher returns over the long term.
- Nationwide Advisory Retirement Income Annuity (NARIA)
- Nationwide Destination B 2.0
- Nationwide Destination Navigator 2.0
- Nationwide Destination All American Gold 2.0
- Destination Freedom+
- Nationwide Destination Future
- Nationwide Destination Architect 2.0
- Nationwide O Series Variable Annuity
- The Best of America IV
Fixed rate annuities are not subject to market volatility and so offer a potentially safer way to grow your money.
Fixed annuities let you save for retirement with a tax deferral on earnings, meaning you won’t get a yearly tax bill on your earnings until you begin drawing an income from them. A fixed annuity can also guarantee income for life no matter how long you live.
- Nationwide Secure Growth
Fixed Indexed Annuities
Fixed indexed annuities provide a source of guaranteed income that balances growth potential and protection. Like a fixed annuity, fixed indexed annuities offer long-term savings options, tax deferral on earnings, and principal protection in a down market.
Your money can grow based on the performance of an underlying index, such as the S&P 500. And while the benchmark index follows the market, your principle is never directly exposed to the stock market.
As a result, while a fixed indexed annuity offers more growth potential than a fixed annuity and carries less risk, fixed indexed annuities may offer less potential return than a variable annuity.
Some fixed indexed annuities may offer optional riders, such as living benefit riders for guaranteed lifetime income or enhanced death benefits to aid in estate planning.
- Nationwide New Heights Select 8 Fixed Indexed Annuity
- Nationwide New Heights Select 9 Fixed Indexed Annuity
- Nationwide New Heights Select 10 Fixed Indexed Annuity
- Nationwide New Heights Select 12 Fixed Indexed Annuity
- Nationwide Peak Fixed Indexed Annuity
- Nationwide Peak 5 Fixed Indexed Annuity
- Nationwide Peak 10 Fixed Indexed Annuity
- Nationwide Summit Fixed Indexed Annuity
Immediate Annuities and Fixed-Immediate Annuities
An immediate annuity is the most basic type of annuity. A one-time lump-sum contribution is converted into an ongoing, guaranteed source of income for life or a set period of time. Income withdrawals can begin immediately or be deferred for up to a year.
Immediate annuities and fixed-immediate annuities do carry certain risks, including locking up funds for a period of time (or indefinitely), inflation diminishing the value of your funds, and penalties that may result if you need to withdraw more than is allowed at a given time.
- INCOME Promise Select
Registered Index-Linked Annuities
Registered index-linked annuities (RILAs) offer a tax-deferred long-term savings option with more growth potential than a fixed-indexed annuity (but less risk than a variable annuity) with downside protection against volatile markets, low interest rates and high inflation.
Also known as ‘structured annuities,’ RILAs offer tax-deferred growth opportunities that are available through an underlying index or indexes. However, a RILA is not a stock market investment and does not directly participate in any stock or equity investments.
While funds placed into RILAs will be partially protected from market downturns, investors accept a level of risk in exchange for higher upside potential.
- Nationwide Defined Protection Annuity
Customers of Nationwide Life Insurance Company can log in to their accounts online with their username and password. Through this online site they will be able to view policy documents, view their existing coverage and contact local agents, among other functions.
For website help or questions about help with your insurance coverages, billing and claims, Nationwide can be reached at 1-877-669-6877.
For assistance with annuities, life insurance, mutual funds and retirement plans, Nationwide can be reached at 1-800-848-6331.
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11 Cited Research Articles
Annuity.org writers adhere to strict sourcing guidelines and use only credible sources of information, including authoritative financial publications, academic organizations, peer-reviewed journals, highly regarded nonprofit organizations, government reports, court records and interviews with qualified experts. You can read more about our commitment to accuracy, fairness and transparency in our editorial guidelines.
- Nationwide. (n.d.). 2021 Annual Report. Retrieved from https://www.nationwide.com/cps/annual-report/index.html
- Nationwide. (n.d.). Company Ratings. Retrieved from https://www.nationwide.com/personal/about-us/company-ratings/
- Nationwide. (n.d.). Contact Us. Retrieved from https://www.nationwide.com/personal/contact/
- Nationwide. (n.d.). Fixed Annuities. Retrieved from https://www.nationwide.com/personal/investing/annuities/fixed/
- Nationwide. (n.d.). Fixed Indexed Annuities. Retrieved from https://www.nationwide.com/personal/investing/annuities/fixed-indexed/
- Nationwide. (n.d.). Immediate Annuities. Retrieved from https://www.nationwide.com/personal/investing/annuities/immediate/
- Nationwide. (n.d.). Life Insurance. Retrieved from https://www.nationwide.com/personal/insurance/life/
- Nationwide. (n.d.). Log In. Retrieved from https://www.nationwide.com/personal/login
- Nationwide. (n.d.). Nationwide’s Corporate History. Retrieved from https://www.nationwide.com/personal/about-us/history/
- Nationwide. (n.d.). Registered Index-Linked Annuities. Retrieved from https://www.nationwide.com/personal/investing/annuities/registered-index-linked/
- Nationwide. (n.d.). Variable Annuities. Retrieved from https://www.nationwide.com/personal/investing/annuities/variable/
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