Why it earned this rating
Our assessment
Nationwide Platinum Edge 9-Year is a clean, accumulation-focused MYGA backed by a carrier with A+ financial strength, but two structural limitations hold it short of a higher rating. The MVA applying to free withdrawals is genuinely unusual and makes the contract less liquid than it first appears. Layer in the significant state exclusions and the SEC-registration requirement that restricts who can sell it, and the product is best evaluated as a solid option for buyers who fit its specific profile rather than a broadly competitive choice in its peer group.
The short version
This is a nine-year guaranteed-rate annuity for savers who want a locked yield, are comfortable with a long commitment, and have a registered representative who can offer it. The fixed rate is guaranteed for the full surrender period — no renewal risk, no indexing complexity — and Nationwide's A+ A.M. Best rating provides strong carrier backing. The catch is that the market value adjustment follows you even into the free-withdrawal provision, which is a meaningful departure from standard MYGA design. Buyers who understand that limitation and still want the certainty of a locked nine-year rate have a legitimate option here. Buyers who expect genuine free access to 10% per year should look elsewhere.
Key facts
The full review
Is Nationwide Platinum Edge 9-Year a Good Annuity?
It depends on your situation. For someone who genuinely has nine-year money, does not expect to need the annual free amount, and values the certainty of a Nationwide-backed locked rate, this is a reasonable choice. For someone who considers the 10% annual free withdrawal a real liquidity tool — the standard expectation in MYGA shopping — this product will likely disappoint. The MVA-on-free-withdrawals provision is the single most important fact to understand before placing money here.
Why Someone Would Buy This Annuity
The main reason is simplicity and certainty. Nationwide locks in a fixed rate for the full nine-year period — there is no renewal negotiation at year three or year five, and no index-linked variability. The low minimum premium makes it accessible to buyers who cannot meet the $10,000 or $25,000 floors common in competing MYGAs. A buyer who has smaller rollover assets, wants a clean accumulation contract, and trusts a large mutual insurance carrier has a reasonable case for this product.
Who This Annuity Is Best For
I think Platinum Edge 9-Year fits best for a buyer in their mid-50s to early 70s who is consolidating smaller IRA assets, wants the simplicity of a guaranteed fixed rate, and is confident they will not need annual free withdrawals. It is less well-suited for someone actively taking systematic withdrawals, anyone in Maryland, New York, Pennsylvania, Texas, or Washington, or anyone whose adviser is not a registered representative. The product's low floor makes it accessible, but its liquidity design means the buyer needs to treat it as genuinely illiquid money.
What You're Really Buying Here
You are buying a guaranteed fixed interest rate that will not change for nine years. Unlike a fixed indexed annuity, there is no market linkage, no cap, no participation rate — the rate is fixed by contract. Unlike a CD, the interest grows tax-deferred if the contract is non-qualified. What you are trading for that certainty is a nine-year commitment with a market value adjustment that adjusts your surrender value based on interest rate movements, and — unusually — that same MVA applies to the 10% annual amount most MYGA buyers think of as penalty-free access. This is closer to a nine-year lock than a nine-year annuity with an annual withdrawal option.
How the Core Feature Works
Platinum Edge 9-Year credits a single fixed interest rate, guaranteed for the entire nine-year guarantee period. The rate as of November 1, 2025 was 4.15%. That rate will not change during your term — no downward renewal, no index-based crediting, no declared-rate resets. At the end of the nine-year period, contract values move into a Transition Account, which is fully liquid (no surrender charges, no MVA), earns a monthly rate set by Nationwide, and is available while the contract owner selects a renewal or exit strategy.
The Transition Account is a thoughtful design feature. Many MYGAs leave the owner exposed to rate uncertainty at maturity, or impose a short decision window. The buffer of a liquid, no-penalty holding account gives a realistic runway for making a deliberate reinvestment decision rather than a rushed one.
Why the Secondary Feature Matters
The most meaningful secondary feature is the Nursing Home Waiver and Terminal Illness Waiver. Both are available at no additional cost. If the contract owner is confined to a nursing home for at least 90 consecutive days, or is diagnosed with a terminal illness with a life expectancy of 12 months or fewer, surrender charges are waived. The MVA still applies under the nursing home scenario — the brochure is explicit about this — so the waiver covers the CDSC portion but not the interest-rate adjustment. That is a partial relief, not a full one, but it is meaningful protection for buyers in the target age band.
Liquidity and Surrender Schedule
Nationwide Platinum Edge 9-Year is designed for buyers who can leave money untouched. Free withdrawals are capped at 10% of account value annually (noncumulative, minimum $100), but the market value adjustment — MVA — applies to those free withdrawals too. An MVA adjusts your effective surrender value based on the direction of interest rates since contract issue: if rates have risen since you purchased, the MVA will reduce what you receive on withdrawals. If rates have fallen, it will increase the amount.
Applying the MVA to the standard free-withdrawal provision is unusual in the MYGA market, and it is the most important liquidity disclosure for this product. Buyers should assume that any withdrawal during the nine-year period carries MVA risk.
Required minimum distribution amounts are not subject to surrender charges (CDSC is waived for RMDs), although the MVA still applies. Death benefit distributions waive both the CDSC and the MVA. Annuitization is available after two years (one year in Florida).
| Contract Year | Surrender Charge |
|---|---|
| 1 | 5% |
| 2 | 5% |
| 3 | 4% |
| 4 | 4% |
| 5 | 3% |
| 6 | 3% |
| 7 | 2% |
| 8 | 2% |
| 9 | 1% |
Fees and Tradeoffs
There are no explicit base contract fees or rider fees — this is a simple fixed-rate contract. The cost of ownership is indirect: the spread between what Nationwide earns on its general account investments and what it credits to the contract. That is standard for MYGAs and not a concern specific to this product.
The real tradeoffs are structural. The MVA on free withdrawals is the primary one. The nine-year commitment is a secondary one — longer than most accumulation MYGA buyers typically prefer. The Registered Fixed Annuity classification means the product must be sold through a registered representative, which limits distribution and may affect who can offer it to a client. And five significant states (Maryland, New York, Pennsylvania, Texas, and Washington) are excluded entirely, which reduces the available market substantially.
Product snapshot
| Feature | Details |
|---|---|
| Product Type | Fixed Annuity |
| Surrender Period | 9 years |
| Issue Ages | 0-85 (annuitant); no maximum for contract owner |
| Minimum Premium | $2,000 |
| Crediting Methods | Fixed rate guaranteed for guarantee period, Transition Account (liquid, monthly rate) |
| Free Withdrawal | 10% of account value annually (noncumulative); minimum withdrawal $100; MVA applies to free withdrawals |
| MGSV | Not specified in available materials |
| Death Benefit | Return of full account value; MVA waived; 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 Financial
A.M. Best Rating: A+
Final take
Nationwide Platinum Edge 9-Year is a legitimate choice for the narrow buyer profile it fits: someone with a low initial premium, a long time horizon, a need for simplicity, and no expectation of touching the money before the term ends. The A+ carrier rating and guaranteed nine-year rate are real strengths. The Transition Account at maturity is a practical improvement over typical MYGA rollover mechanics.
The product is not a good fit for buyers who treat the annual 10% free-withdrawal provision as genuine liquidity — the MVA undermines that assumption here. It is also limited by its distribution requirements and excluded states. For buyers who understand the constraints and still want the certainty of a long locked rate from a large, well-rated carrier, this product makes sense. For buyers who want flexibility inside the contract, a shorter commitment, or access across all states, they should look at alternative MYGA options first.