Nationwide New Heights Select 9 review

Yes, for the right buyer. This is a good annuity for someone who wants accumulation potential with principal protection on a 9-year timeline and values the ability to use 3-year strategy terms for potentially higher crediting rates. It is less appealing for someone who wants a simpler surrender schedule, needs 10% annual liquidity during the surrender period, or prefers a lower minimum premium.

The main reason to buy New Heights Select 9 is accumulation with downside protection and the potential for higher crediting terms through 3-year strategy durations. Longer strategy terms generally allow the carrier to offer more competitive caps and participation rates because the insurer has more time to manage the underlying hedging. The secondary reason is the same rider flexibility found across the New Heights Select line. Buyers can add an income rider, a death benefit rider, or neither. In real life, this is the type of annuity someone buys when they want more growth potential than a traditional fixed annuity, are comfortable with a 9-year commitment, and want the option to layer on income or legacy features.

New Heights Select 9 is best for someone who wants a mid-to-longer duration accumulation FIA and is specifically attracted to the 3-year strategy terms that the 8-year version does not offer. It is also a reasonable fit for someone who values the 4% EDB purchase payment bonus and wants a stronger legacy feature than the 8-year version provides. It is less attractive for someone who wants the lowest possible entry point, prefers a uniform surrender schedule across all states, or needs availability in New York.

You are not buying direct stock market participation. You are buying a principal-protected insurance contract that credits interest based in part on the performance of selected indices while protecting principal from market downturns. The real value here is the combination of protection, a broad index menu with Balanced Allocation Strategies, 3-year strategy terms for potentially higher crediting, and the flexibility to customize the contract with an optional rider. This is a structured product that trades unlimited upside for downside certainty.

New Heights Select 9 lets you allocate among several interest-crediting strategies tied to seven indices: Goldman Sachs New Horizons, J.P. Morgan Mozaic II, Loomis Sayles Discovery, Nasdaq-100 Volatility Control 10% PR, NYSE Zebra Edge II, S&P 500, and SG Macro Compass. Strategy terms are available in 1-year and 3-year durations. The Balanced Allocation Strategy options blend an index component, a declared rate component, and a strategy spread.

The 3-year strategy terms are the key differentiator from the 8-year version. By locking into a longer crediting period, the carrier has more flexibility in structuring the underlying hedges, which typically translates to higher caps or participation rates. The tradeoff is that your allocation is committed for three years rather than one, so you have less frequent opportunities to reallocate. The Daily Accumulation Value still tracks potential earnings daily even within a 3-year term, and the lock-in feature lets you lock the index value once per strategy term to capture gains mid-term.

The most meaningful secondary feature is the optional rider menu, which mirrors the structure available across the New Heights Select line. Buyers can choose one rider from four options. The High Point 365 Select Lifetime Income rider (0.95% annual fee) provides guaranteed lifetime withdrawals after a 5-year deferral period, with 1% annual growth on the Minimum Income Benefit Value for 10 years. The High Point 365 Select with Bonus rider (1.10% annual fee) offers a 30% MIBV bonus and 9.5% compound growth for 12 years after just a 1-year deferral.

On the legacy side, the High Point Select Enhanced Death Benefit rider (0.50% annual fee) grows the minimum EDB at 4% compound to a 200% cap. The High Point Select EDB with Purchase Payment Bonus version (0.95% annual fee) adds a 4% purchase payment bonus that vests over the 9-year surrender period. That 4% bonus is higher than the 3% offered by the 8-year version, which makes this a more attractive option for buyers whose primary secondary goal is legacy planning.

This annuity allows no free withdrawals in year 0. Starting in year 1, free withdrawals of up to 7% of contract value are available annually through year 8. After year 9, the free withdrawal amount increases to 10%. Amounts above the free withdrawal limit are subject to the surrender schedule, which varies by state.

Group 1 states** (AL, AR, and others): 9% / 9% / 9% / 9% / 8% / 7% / 6% / 5% / 4% / 0%. **Group 2 states** (AK, CT, and others): 9% / 8.9% / 7.9% / 7% / 6% / 5% / 4% / 3% / 2% / 0%. **California: 8.15% / 7.85% / 7% / 6% / 5% / 4% / 3% / 2% / 1% / 0%. The state-variable schedule adds complexity that buyers and advisors need to account for. Group 1 states have a notably flat schedule in the early years, with charges staying at 9% for the first four years. RMD withdrawals are free of surrender charges and MVA. LTC and terminal illness waivers are available after year 1. The death benefit pays the greater of the DAV or surrender value.

There is no base contract fee. Fees only apply if the buyer elects an optional rider. The income riders charge 0.95% or 1.10% annually depending on the version chosen. The enhanced death benefit riders charge 0.50% or 0.95% annually. These fees are deducted from the contract value and will reduce the accumulation over time.

The less obvious tradeoffs are structural. Upside is limited by the crediting terms of each strategy. The 3-year strategy terms offer potentially higher rates but lock your allocation for a longer period. The Balanced Allocation Strategy blends components in a way that can smooth returns but also cap the highest possible outcomes. Some of the volatility-controlled indices have embedded index costs. The 7% free withdrawal cap is below the industry norm. The state-variable surrender schedule means the actual cost of early withdrawal depends on where you live. And the $25,000 minimum is higher than the 8-year version's $10,000 entry point.

New Heights Select 9 is issued by Nationwide Life and Annuity Insurance Company, a subsidiary of Nationwide Mutual Insurance Company, based in Columbus, Ohio. Nationwide is a Fortune 100 mutual company founded in 1926 with $322.3 billion in total assets. The company carries ratings of A+ from S&P, A+ from AM Best, and A1 from Moody's. Nationwide is one of the largest and most diversified insurance and financial services companies in the United States, and the New Heights Select line reflects a modern, accumulation-focused FIA design with meaningful rider optionality.