Goldstein Scorecard: B- (dated October 4, 2026). See how it is graded.
Nationwide Peak 10 Review: October 2026 Rates, Surrender Schedule and Built-In Income
Written & reviewed by Hans Goldstein, EA, Independent Licensed Insurance Producer · CA license 4273294 · NPN 20602398Admitted to practice before the IRS
Facts verified against Nationwide’s Peak 10 rate sheets (10/01/2026), product profile and AM Best on October 4, 2026 · Updated
Nationwide Peak 10 is a single-premium, 10-year fixed indexed annuity issued by Nationwide Life and Annuity Insurance Company (AM Best A+, affirmed November 7, 2025). On Nationwide’s October 1, 2026 rate sheet for most states, contracts of $100,000 or more get a 6.25% one-year S&P 500 cap, a 10% cap on four other indexes and a 3.55% fixed account. The minimum premium is $25,000, surrender charges run 10 years, and a 4% simple roll-up income benefit is built in at no extra cost.
Correction (October 4, 2026): An earlier version of this page described the Bonus Income+ roll-up as 8% simple and named Nationwide Life Insurance Company as the issuer. Nationwide’s product profile (FAM-1169AO-AL.11, 10/26) shows a 10.0% simple roll-up, and Peak 10 is issued by Nationwide Life and Annuity Insurance Company. We also removed ratings and grades we could not verify at a primary source (Weiss, KBRA, COMDEX, renewal and service tiers), cap estimates that were not on a current rate sheet, and illustrative case studies.
CD vs MYGA, after tax
What $100,000 earns in 5 years: CD vs MYGA, after tax
Rates used: CD 5.00%, the top nationally available 5-year CD (Bankrate, October 14, 2026); change it to the rate you are offered. MYGA 5.95%, the best A-rated rate we track as of October 13, 2026: Delaware Life Pinnacle Plus 5-year (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).
| CD, interest taxed every year | $121,081 |
|---|---|
| MYGA, tax-deferred, before tax | $133,507 |
| MYGA after paying tax on all the interest at withdrawal | $126,136 |
| Tax deferral alone adds about | $674 |
| MYGA ahead of the CD, after tax | $5,055 |
Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge. In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.
Nationwide Peak 10 current rates (October 1, 2026)
| Index (premium $100,000+) | 1-year cap | 2-year Option A: participation / spread | 2-year Option B: participation (0% spread) |
|---|---|---|---|
| S&P 500® Price Index | 6.25% | 60% / 1% | 50% |
| AB Growth & Value Balanced Index | 10% | 250% / 1% | 225% |
| BNPP Global H-Factor Index | 10% | 295% / 1% | 265% |
| J.P. Morgan Cycle Index | 10% | 265% / 1% | 235% |
| S&P 500® Daily Risk Control Index | 10% | 225% / 1% | 200% |
| Fixed account (1-year term) | 3.55% declared |
Caps, participation rates and spreads are declared for each one-year or two-year index term and may change at the next term, within contractual minimums that Nationwide sets on the contract specifications page. Four of the five indexes are excess return indexes; Nationwide notes these include calculation elements that reduce index performance compared with a total return version.
Rates by state group
| Premium $100,000+, as of 10/01/2026 | S&P 500 1-yr cap | Other indexes 1-yr cap | Fixed account |
|---|---|---|---|
| Rate sheet M1 (27 states and DC, listed above) | 6.25% | 10% | 3.55% |
| Rate sheet AO (AK, CT, IA, ID, MN, MS, MO, NH, NJ, NV, OH, OK, OR, PA, RI, SC, TX, UT, WA, WY) | 6.05% | 9.5% | 3.45% |
| California | 5.3% | 9% | 3.25% |
| M1 states, premium $25,000 to $99,999 | 5.65% | 9% | 3.3% |
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Contract basics
| Contract feature | What Nationwide publishes |
|---|---|
| Issuer | Nationwide Life and Annuity Insurance Company, Columbus, Ohio |
| Product type | Single-purchase-payment deferred fixed indexed annuity; no additional payments |
| Minimum premium | $25,000, qualified or nonqualified |
| Issue ages | Annuitant up to 85 (single or joint); owner any age |
| Plan types | Nonqualified, IRA, Roth IRA, SEP IRA, SIMPLE IRA, charitable remainder trust, 401(a) |
| Free withdrawal | 10% of contract value at the beginning of the term each year, noncumulative; amounts withdrawn do not receive index earnings for that term |
| Market value adjustment | Yes, during the surrender period on withdrawals above the free amount; not applied to RMDs or the confinement and terminal illness waivers; not applicable in some states |
| RMDs | Free of surrender charge and MVA (not in the calendar year of issue) |
| Waivers | Long-term care/confinement and terminal illness or injury, after the first contract year, issue age 80 or younger |
| Annual contract fee | None. The optional Bonus Income+ Rider costs 1.00% single / 1.30% joint |
| Built-in income | Guaranteed Income Solution: 4.0% simple roll-up of the Income Benefit Base for 10 years or until the first withdrawal; owner ages 50 to 85 |
| Death benefit | Contract value; Joint Option lets a spouse continue the contract with no remaining surrender charge or MVA |
| Not available in | DE, GU, NY, PR, VI |
| Minimum caps, participation rates, spreads | Set on the contract specifications page; not publicly disclosed in the rate sheet or profile |
Surrender schedule by year
| Completed contract years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10+ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| M1 states | 10% | 10% | 9% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 0% |
| AO states | 9.2% | 8.9% | 7.9% | 7% | 6% | 5% | 4% | 3% | 2% | 1% | 0% |
| California | 9.2% | 8.2% | 7.2% | 6.2% | 5.2% | 4.15% | 3.15% | 2.1% | 1.05% | monthly | 0% |
Built-in lifetime income: the Guaranteed Income Solution
Every Peak 10 contract includes the Guaranteed Income Solution unless the Bonus Income+ Rider is elected. It rolls the Income Benefit Base (your premium) up at 4.0% simple interest for 10 years or until the first withdrawal, and each anniversary the base resets to the higher of contract value or the roll-up value. Lifetime withdrawals can start at any time with no waiting period. Lifetime income is backed by the claims-paying ability of Nationwide Life and Annuity Insurance Company.
| Owner age at first lifetime withdrawal | Guaranteed Income Solution (built in, single life) |
|---|---|
| 50 to 59 | 3.50% |
| 60 to 71 | 4.00% |
| 72+ | 4.50% |
Hypothetical: $100,000 premium, no withdrawals for 10 years, contract value below the roll-up. The roll-up value is $100,000 + (4% × $100,000 × 10) = $140,000. At age 70 the single-life percentage is 4.00%, so lifetime withdrawals would be $5,600 a year. This is arithmetic on Nationwide’s published terms, not an illustration.
Goldstein Scorecard (dated October 4, 2026)
| Dimension | Grade | Basis (sourced fact) |
|---|---|---|
| Financial strength | A | Nationwide Life and Annuity Insurance Company: AM Best A+ (Superior), affirmed November 7, 2025 (AM Best). |
| Rate or cap competitiveness | C | The 3.55% fixed account (M1 states, $100k+, 10/01/2026) is below the 5.50% to 6.05% 5-year MYGA benchmark of October 14, 2026; the 6.25% S&P 500 cap is a ceiling, not a rate. |
| Guaranteed floor | Incomplete | Index losses are not credited, but the minimum caps, participation rates and spreads are on the contract specifications page and are not public. |
| Liquidity | C | 10-year surrender schedule starting at 10% (M1 states), MVA on excess withdrawals, 10% noncumulative free withdrawal, RMDs free. |
| Costs | B | No annual contract fee; 1% spread on Account Option A; the AB, BNPP, J.P. Morgan and Daily Risk Control indexes are excess return indexes that reduce index performance; optional rider 1.00% / 1.30%. |
| Transparency | A | Dated rate sheets for each state group, a product profile and a rider guide are posted publicly on nationwide.com. |
| Guaranteed minimum cap | Not publicly disclosed | Nationwide puts minimum caps, participation rates and spreads on the contract specifications page, which is not public (checked October 4, 2026). |
| Overall | B- | Weighted toward financial strength, guaranteed floor and liquidity for a buyer who wants a known result. |
Pros and cons
Pros
- Issued by a Nationwide life company rated A+ (Superior) by AM Best (affirmed November 7, 2025).
- Built-in Guaranteed Income Solution at no extra cost: 4.0% simple roll-up for up to 10 years, with lifetime withdrawals of 3.50% to 4.50% depending on age.
- No annual contract or administrative fee.
- Rates are published by state group with an effective date (October 1, 2026), so a quote can be checked against the source.
- RMDs come out free of surrender charges and MVA, and the free withdrawal amount rises to match an RMD.
Cons
- Ten years of surrender charges, starting at 10% in 27 states and DC, plus an MVA on withdrawals above the free amount.
- The S&P 500 one-year cap (6.25% in M1 states, 5.3% in California for $100k+) limits upside; the higher 10% caps are on excess return indexes, which carry a built-in performance drag.
- Contracts under $100,000 get lower rates (for example 5.65% S&P 500 cap and 3.3% fixed in M1 states).
- The contractual minimum caps and participation rates are not published, so the worst-case renewal is unknown until you see the contract.
- Not sold in DE, GU, NY, PR or VI.
Who it’s for, and when to look elsewhere
Fits: a buyer with $25,000 or more who will not need more than 10% a year for a decade, wants index-linked crediting with index losses not credited, and values a built-in lifetime income option without paying a rider fee. A buyer who wants a larger income benefit should read the Peak 10 Bonus Income+ Rider review, which covers the optional 25% income-base bonus and 10% simple roll-up.
Look elsewhere if: you mainly want a known rate. A MYGA locks a declared rate for the whole term instead of resetting a cap each year. For comparison, A-rated-or-better insurers were paying about 5.50% to 6.05% on 5-year MYGAs and the best nationally available 5-year CDs about 4.70% to 5.00% APY (MYGAs: public carrier rate sheets, October 14, 2026; CDs: Bankrate and Popular Direct, October 18, 2026). Current rates: MYGA rates.
Also look elsewhere if you might need the money within 10 years, if you live in a state where Peak 10 is not sold, or if you will never use lifetime income and would rather not hold a 10-year contract for index crediting alone.
Questions to ask your agent
- What are the guaranteed minimum cap, minimum participation rate and maximum spread in my contract? Please show them to me in writing on the contract specifications page.
- Which state rate sheet applies to me, and what is the full surrender schedule by year, including the MVA and the 10% free withdrawal?
- Are you illustrating the built-in Guaranteed Income Solution or the optional Bonus Income+ Rider, and what does the rider fee do to my contract value?
- Which of the five indexes are excess return indexes, and how has each renewal rate moved for existing contracts?
- How are you paid on this product? Commission comes from the insurer and is built into pricing, not deducted from my premium. What is the percentage, and would a longer surrender term pay you more? (See how annuity commissions work.)
From my desk
When I review a Peak 10 illustration, the first thing I check is the state on the rate sheet. Nationwide publishes three versions, and the same $100,000 gets a 6.25% S&P 500 cap in Florida but 5.3% in California as of October 1, 2026. An illustration built on the wrong sheet is wrong from page one.
The number buyers most often misread is the Income Benefit Base. The 4% roll-up on the built-in benefit, or the 25% bonus and 10% roll-up on the optional rider, grow a figure that only sets your lifetime withdrawal amount. It is not cash and it is not what you get if you surrender. I put the contract value column and the income base column side by side before anything else.
Against a MYGA, I compare the fixed account and a realistic credit, not the cap. Peak 10’s fixed account is 3.55% for one year; a 5-year MYGA locks its rate for the full term. If the buyer does not need income or index upside, the MYGA usually answers the question with fewer moving parts. Run your own surrender numbers with the annuity surrender charge calculator and growth scenarios with the annuity calculator.
Hans Goldstein, independent licensed insurance producer, CA license 4273294, NPN 20602398. Questions: 213-414-2808 or [email protected].
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Frequently asked questions
Who issues Nationwide Peak 10?
Nationwide Life and Annuity Insurance Company, Columbus, Ohio. AM Best affirmed its Financial Strength Rating of A+ (Superior) on November 7, 2025.
What are Nationwide Peak 10 rates in October 2026?
As of October 1, 2026, for premiums of $100,000 or more in the 27 states and DC on rate sheet FAM-1183M1-AL: a 6.25% one-year S&P 500 cap, a 10% one-year cap on the AB, BNPP, J.P. Morgan and S&P 500 Daily Risk Control indexes, and a 3.55% fixed account. California and the AO states have lower rates.
How long is the Peak 10 surrender period?
Ten years. In the M1 states the schedule is 10%, 10%, 9%, 8%, 7%, 6%, 5%, 4%, 3%, 2%, then 0%. An MVA can also apply to withdrawals above the 10% free amount during the surrender period.
What is the minimum investment for Nationwide Peak 10?
$25,000 as a single purchase payment, qualified or nonqualified. Additional payments are not allowed.
Does Peak 10 have an income rider?
Yes. The Guaranteed Income Solution is built in at no cost with a 4.0% simple roll-up. The optional Bonus Income+ Rider costs 1.00% single life or 1.30% joint life and adds a 25% bonus to the Income Benefit Base plus a 10.0% simple roll-up for up to 10 years.
Is Nationwide Peak 10 guaranteed?
Index losses are not credited to the contract, and the lifetime income benefits are contractual, backed by the claims-paying ability of Nationwide Life and Annuity Insurance Company. Surrender charges and an MVA can reduce what you receive if you withdraw more than the free amount early. It is not FDIC insured.
Related reviews: Peak 10 with the Bonus Income+ Rider · Nationwide New Heights · Lincoln OptiBlend vs Nationwide New Heights Select · How annuity crediting actually works · Are annuities FDIC insured? · Income rider vs annuitization calculator
Sources (checked October 4, 2026)
- Nationwide: Nationwide Peak 10 product page: read October 4, 2026
- Nationwide: Peak 10 rates as of 10/01/2026, M1 state group (FAM-1183M1-AL): effective October 1, 2026
- Nationwide: Peak 10 rates as of 10/01/2026, AO state group (FAM-1183AO-AL): effective October 1, 2026
- Nationwide: Peak 10 rates as of 10/01/2026, California (FAM-1183CA-AL): effective October 1, 2026
- Nationwide: Peak 10 product profile (FAM-1169AO-AL.11): dated 10/26
- Nationwide: Peak 10 product guide (FAM-1165AO-AL): read October 4, 2026
- Nationwide: Bonus Income+ Rider guide (FAM-1166AO-AL.8): dated 10/26
- AM Best: Affirms Credit Ratings of Nationwide Mutual Insurance Company and Its Key Operating Subsidiaries: November 7, 2025
- public carrier rate sheets and DepositAccounts (MYGA and CD benchmark): September 24, 2026
- Industry data: FIA guaranteed minimum caps across 99 products (contractual minimums from insurers' public documents, October 4, 2026)
Disclosure
This review is based on the carrier's public product materials and rates as of the date shown above. Annuity rates, caps, participation rates, payout factors, crediting methods, and long-term care benefit structures change often, sometimes monthly. Confirm current figures in the latest carrier disclosure and the contract before you buy. This is general education, not a personal recommendation or an offer of any product. Hans Goldstein is an independent licensed insurance producer (CA license 4273294, NPN 20602398) appointed with several A-rated carriers. His appointment with the carrier reviewed here may vary, and this review is not an endorsement. No carrier paid for this review. Always read the actual contract and consult a licensed advisor before purchasing any annuity or long-term care insurance product. Past index performance does not predict future credited interest. Annuities and hybrid life+LTC policies are long-term contracts with surrender charges; they are not suitable for funds you may need before the end of the surrender period. AM Best ratings and tax treatment are subject to change. Tax discussion of IRC §7702B, §1035, and the Pension Protection Act of 2006 reflects law as of 2026 and is subject to change.