Why it earned this rating
Our assessment
Nationwide Platinum Edge 10-Year is a clean, single-rate MYGA with a competitive 10-year guarantee and a declining surrender schedule that is gentler than many peers in the same duration band. It earns a solid rating because the locked rate and institutional name are genuine strengths, but the MVA on free withdrawals and the 0.00% minimum guaranteed surrender value are real structural drawbacks that most MYGA buyers should understand before committing.
The short version
This is a 10-year locked-rate annuity built for someone who wants a guaranteed fixed return for a decade and can leave the money alone. The stated rate as of November 2025 was 4.25% annually for the full 10-year term. What makes it more interesting than some fixed annuities is the mild, declining surrender schedule and the low minimum premium. What makes it less straightforward is the MVA — it applies to virtually every distribution, including the 10% annual free withdrawal, which is unusual and worth understanding before you buy.
Key facts
The full review
Is Nationwide Platinum Edge 10-Year a Good Annuity?
It depends. This is a good annuity for someone who wants a guaranteed rate from a strong carrier for 10 years and is confident they will not need to touch more than what the free withdrawal provision allows. It is less attractive if you are counting on that 10% annual withdrawal as a true liquid cushion — because the MVA can reduce what you actually receive, even on amounts within the free-withdrawal window. For someone who truly will not touch the money, this is a clean, no-rider MYGA. For someone who might need periodic access and wants predictable liquidity, the MVA terms complicate the picture.
Why Someone Would Buy This Annuity
The main reason is a guaranteed 10-year rate from Nationwide, an A+-rated carrier. The secondary reason is the low minimum premium — at $2,000, this is accessible to buyers who want to start smaller than most MYGAs require. Someone buying this annuity is typically parking a defined chunk of retirement savings, wants a fixed rate for the long term, and does not need income guarantees or index-linked upside.
Who This Annuity Is Best For
I think this product works best for a buyer in their late 50s or 60s who has a pool of long-term money — qualified or non-qualified — that they want to grow at a locked rate without exposure to market risk. The low minimum makes it suitable for smaller allocations within a broader retirement portfolio. It is less suitable for someone who expects to take meaningful distributions during the surrender period, or for anyone shopping in Maryland, New York, Pennsylvania, Texas, or Washington, where it is not available.
What You're Really Buying Here
You are buying a 10-year interest-rate guarantee from an insurance company. The guarantee is simple: Nationwide commits to crediting your contract at the stated rate for the entire guarantee period, regardless of what happens to interest rates in the broader market. In exchange, you accept limited access to your money for 10 years and exposure to a market value adjustment on most withdrawals, including the free portion. That MVA is essentially an interest-rate risk transfer mechanism — if rates have risen since you bought, the MVA can reduce what you receive; if rates have fallen, it could work in your favor.
How the Core Feature Works
The core feature is a single fixed crediting rate guaranteed for 10 years. As of November 2025, that rate was 4.25% annually. The rate is not tied to any index — it credits as a fixed rate and compounds inside the contract. Nationwide also offers a Transition Account alongside the main guarantee period account. The Transition Account is fully liquid, pays a rate set monthly by Nationwide, and has no surrender charges and no MVA — making it useful as a temporary holding location before you move funds into the multi-year guaranteed account. Once money is in the main account, the 10-year guarantee and surrender terms apply.
Why the Secondary Feature Matters
The secondary feature worth noting is the MVA waiver on death benefits. If the annuitant dies during the surrender period, the full contract value is paid to the beneficiary and the market value adjustment is waived. That is a meaningful protection for buyers who are worried about locking up money in a rate environment where rising rates could otherwise penalize their estate. Spousal continuation is also available, giving a surviving spouse the option to step into the contract rather than take a lump-sum distribution.
Liquidity and Surrender Schedule
This is a 10-year commitment. The surrender schedule starts at 5% in years one and two, steps down to 4% in years three and four, continues declining through 1% in years nine and ten, and drops to zero after the guarantee period ends.
The free withdrawal provision allows up to 10% of contract value annually, but with an important caveat: the market value adjustment applies even to amounts within the free-withdrawal window. That is meaningfully different from most MYGAs, which waive the MVA on free withdrawals. In a rising-rate environment, you could take your free 10% withdrawal and still receive less than 10% of contract value after the MVA adjustment.
RMD amounts are not subject to surrender charges, though the MVA still applies. The nursing home waiver covers confinement of 180 or more continuous days and waives the CDSC but not the MVA. A terminal illness waiver is also available, again with MVA applying. Annuitization is available after two years (one year in certain states).
| Contract Year | Surrender Charge |
|---|---|
| 1 | 5% |
| 2 | 5% |
| 3 | 4% |
| 4 | 4% |
| 5 | 3% |
| 6 | 3% |
| 7 | 2% |
| 8 | 2% |
| 9 | 1% |
| 10 | 1% |
Fees and Tradeoffs
There is no base contract fee, no administration charge, and no M&E charge. On paper, this looks clean. The real cost is the MVA exposure. Because the MVA applies to nearly every distribution — including the 10% free withdrawal — the effective cost of accessing your money in a rising-rate environment can be higher than the surrender schedule suggests on its own.
The 0.00% minimum guaranteed surrender value deserves attention. Most MYGAs guarantee that surrender values will be at least 87.5% of premiums adjusted at a minimum interest rate. The spec notes this field at medium confidence, but if the 0.00% floor is accurate, it means Nationwide does not guarantee a minimum return of premium on surrender — which is a more contractually aggressive position than many competitors in this category.
Product snapshot
| Feature | Details |
|---|---|
| Product Type | Fixed Annuity |
| Surrender Period | 10 years |
| Issue Ages | 0-85 (annuitant); no maximum for contract owner |
| Minimum Premium | $2,000 |
| Crediting Methods | Fixed rate |
| Free Withdrawal | 10% of contract value annually (noncumulative); minimum withdrawal $100; MVA applies |
| MGSV | 0.00% guaranteed annual return (Minimum Guarantee/Minimum Guaranteed Surrender Value is 0.00%) |
| Death Benefit | Full contract value paid to beneficiary; MVA waived on death benefit distributions; spousal continuation available |
| Income Rider | Not available |
| Premium Bonus | None |
| Availability | Not approved in: MD, NY, PA, TX, WA. Registered Fixed Annuity classified as a Security with the SEC; must be a Registered Representative to sell. |
Carrier snapshot
Legal Entity: Nationwide Life & Annuity Insurance Company
Parent: Nationwide Mutual Insurance Company
A.M. Best Rating: A+
Final take
Nationwide Platinum Edge 10-Year is a straightforward MYGA for buyers who want a guaranteed rate locked for a decade from a well-capitalized, A+-rated carrier. The declining surrender schedule is gentler than many 10-year products, and the low $2,000 minimum makes this accessible for partial allocations. Nationwide's institutional strength and simple fixed-rate design are real selling points.
The main reason to look elsewhere: the MVA applies to free withdrawals, not just amounts above the free-withdrawal limit. If you need predictable, penalty-free access to a portion of your money each year, that structure is a genuine friction point. The 0.00% minimum guaranteed surrender value is also worth asking about directly before signing — most 10-year MYGAs guarantee more downside protection than that on paper. If your plan is to leave the money untouched and simply let the guaranteed rate compound, this is a clean, no-frills accumulation vehicle. If you have any expectation of regular access, you should compare it carefully against competitors with cleaner free-withdrawal terms.