Most Nationwide variable annuities provide a standard death benefit. Some annuities offer optional death benefits, available for an additional cost, that give you the opportunity to capture and lock in investment gains for your beneficiaries.
One-Year Enhanced Death Benefit
By locking the One-Year Enhanced Death Benefit Rider in at the highest annual contract anniversary, you may be able to increase the value of your variable annuity for your beneficiaries. Even if the market and the contract value are down when you pass away.
By locking the One-Month Enhanced Death Benefit in at the highest monthly contract anniversary, you may be able to increase the value of your variable annuity for your beneficiaries. Even if the market and the contract value are down when you pass away.
Beneficiary Protector II is available for an additional cost on most Nationwide variable annuities. This optional rider is designed to help your beneficiaries with the expenses they'll face when they inherit your annuity. When you pass away, we'll add a percentage of the contract earnings to the contract value.
This percentage is based on your age, as shown in the following table:
Annuitant’s age at contract issue
Amount added at annuitant’s death
Up to 70 years old
40% of adjusted contract earnings
71-75 years old
25% of adjusted contract earnings
The amount of payable earnings is capped at 200% of all purchase payments greater than 12 months old. The annuitant age limit varies depending on the contract.5