Secure Growth 4-Year review

Yes, for the right buyer. It is a good annuity for someone who wants a clean, short-term guaranteed rate from a well-known carrier, is comfortable with a four-year commitment, and does not need an income rider or index-linked upside. It is less compelling for someone whose main goal is maximizing yield — in a competitive MYGA market, Nationwide's rate on this product tends to sit in the middle of the pack rather than at the top.

The main reason to buy this product is certainty over four years, not maximum yield. Nationwide's A+ rating from A.M. Best means the carrier quality is among the best available, and some buyers weight that heavily when choosing a fixed annuity. The nursing home and terminal illness waivers add a practical safety net at no extra cost, which matters for buyers who are not certain they will have the same health picture in four years. The $10,000 minimum makes this accessible without requiring a large commitment.

I think this product is best for someone in their 50s to 70s who wants to park a portion of savings for four years, values Nationwide's brand and financial strength, and is not trying to squeeze every basis point out of short-term fixed rates. It works well as a qualified account option — an IRA rollover, for instance — because the RMD treatment is clean. It is less attractive for someone with a large premium who expects to beat the market or who needs guaranteed lifetime income from the same product.

You are buying a four-year interest rate lock, not a market-linked instrument. The interest rate is set at issue and guaranteed for the full four-year term. At maturity, you get the full accumulated contract value. During the term, you can pull 10% per year without penalty. What distinguishes this from a plain CD is the tax-deferral, the insurance-company safety net, and the waiver package — not the yield, which is not where this product competes most aggressively.

The Secure Growth 4-Year credits a flat guaranteed interest rate for the full contract term. As of rate sheets effective July 10, 2026 (Annuity Rate Watch), the guaranteed rate is 3.55% for contracts under $100,000 and 3.85% for contracts at or above $100,000. Those rates apply from day one through the end of year four, with no annual reset or renewal risk during the term. After four years, the rate renews annually until you move the contract or annuitize. The minimum crediting floor is 0.50% (2.55% in New York), which is the worst-case scenario if the product is held far past the initial term and rates fall sharply.

The two-tier rate structure — a 30-basis-point premium for larger deposits — is a common MYGA feature. It rewards buyers who consolidate rather than split deposits.

The nursing home and terminal illness waivers are the most practically useful secondary feature on this product. Both are included in the contract at no additional cost, which is not universal across MYGAs. If the owner is confined to a nursing home or receives a terminal illness diagnosis during the surrender period, surrender charges are waived — the full contract value is accessible. The waivers are subject to maximum eligibility age of 80 and are not available in California or New York, so buyers in those states should factor that limitation into their evaluation.

The four-year surrender schedule runs 7%, 7%, 7%, 6%. That is a somewhat front-loaded structure — the first three years carry the same penalty, with a small step-down only in year four. The 10% free withdrawal provision is available immediately in the first contract year, which is a genuine benefit compared to MYGAs that require waiting until year two. Free withdrawals are noncumulative, meaning unused amounts do not carry over.

This base Secure Growth 4-Year contract does not carry a Market Value Adjustment (MVA) at all — surrender charges during the four-year period are fixed percentages with no interest-rate-driven adjustment. Nationwide offers a separate MVA variant of Secure Growth for buyers who want to trade rate for an MVA-linked surrender calculation; that is a distinct product, not an option within this contract. Buyers who specifically want surrender-penalty certainty already have it here, since there is no MVA to factor in on this SKU.

There is no base contract fee, which is standard for MYGAs. There is no income rider fee because no rider is available. The two meaningful tradeoffs are structural rather than fee-based.

First, the rate. At 3.55–3.85% for a four-year commitment as of the July 10, 2026 rate sheets, this product is not leading the short-term MYGA market. Buyers willing to shop will find higher rates from carriers with lower public profiles. Whether Nationwide's A+ rating and brand recognition are worth the rate difference is a personal call.

Second, the optional Return of Purchase Payment Rider, which guarantees you will receive at least your original premium back on surrender. Electing this rider reduces the credited interest rate. It is a trade: you pay a rate haircut for an explicit downside floor. Most buyers do not need it if they plan to hold for the full four years, but it may appeal to those who are uncertain about their time horizon.

Legal Entity: Nationwide Life Insurance Company

Parent: Nationwide Mutual Insurance Company

A.M. Best Rating: A+

Nationwide is one of the largest mutual insurance companies in the United States. The A+ rating from A.M. Best reflects strong financial stability. This is not a niche or regional carrier, and that matters for buyers who are placing a multi-year fixed annuity with a company they plan to hold through maturity.