Why it earned this rating
Our assessment
Nationwide Secure Growth 4-Year with MVA earns a good-option rating because it delivers a straightforward guaranteed rate with real carrier strength behind it, including an A+ AM Best rating from Nationwide Life. The rate tiers reward larger deposits — $100,000 or more gets a meaningfully better rate — but the surrender schedule and market value adjustment are more aggressive than many short-duration MYGAs, which prevents a higher score. For buyers who match the profile, it does its job cleanly.
The short version
This is a 4-year fixed annuity that does one thing: lock in a guaranteed rate for four years. The product has no index exposure, no income rider, and no moving parts beyond the MVA that affects out-of-schedule withdrawals. What you get is a defined, tax-deferred growth contract backed by one of the country's largest mutual insurance companies. The tradeoff is that the surrender penalties are steep relative to the short term, and the market value adjustment means early exits can sting more than the stated charge schedule suggests.
Key facts
The full review
Is Nationwide Secure Growth 4-Year with MVA a Good Annuity?
Yes, with caveats. It is a good annuity for someone who wants a short, clean rate lock with a household-name carrier and does not plan to touch the money until the surrender period ends. It is less suitable for someone who thinks they might need access to more than 10% of the balance during the 4-year term, because both the surrender charge and the MVA would apply.
Why Someone Would Buy This Annuity
The main reason to buy this product is certainty. You lock in a rate for four years with a carrier rated A+ by AM Best, and you know exactly what that money will be worth when the surrender period ends. The secondary reason is the deposit tier: buyers who can commit $100,000 or more get a noticeably better rate, which is a meaningful incentive for someone moving a larger CD or rolling over a mature fixed annuity.
Who This Annuity Is Best For
I think this annuity fits a fairly specific profile: someone in their 50s or 60s, with stable retirement assets, who wants a short-term guaranteed placement that beats savings rates while keeping money outside the market. It works well for non-qualified accounts or as an IRA rollover vehicle. It is less appealing for someone near or in retirement who might need periodic withdrawals above the free-withdrawal amount, or anyone who wants income features or index exposure during the term.
What You're Really Buying Here
You are buying a short-term insurance contract with a fully guaranteed credited rate — no index, no caps, no participation rates to track. The mechanics are closer to a CD than to anything more complex. Nationwide credits a declared rate annually for four years, and your contract value grows at that rate. The two main structural elements to understand are the free-withdrawal provision (10% of contract value per year, immediately available) and the MVA, which adjusts the penalty on out-of-schedule surrenders up or down based on prevailing interest rates at the time.
How the Core Feature Works
The Secure Growth 4-Year with MVA credits a single declared fixed rate for the entire 4-year guarantee period. Nationwide publishes two rate tiers: one for contracts under $100,000 and one for $100,000 or more. As of the most recent rate sheets, those rates are 3.60% and 3.90% respectively. After the initial guarantee period ends, the rate resets annually rather than remaining locked for an additional 4 years. The guaranteed minimum floor rate is 0.50% (2.55% in New York), which is the contractual backstop — Nationwide cannot credit below that, but in normal rate environments the actual declared rate will be well above it.
Why the Secondary Feature Matters
The secondary feature here is the nursing home and terminal illness waiver. If the owner is confined to a qualified nursing facility for at least 90 days or is diagnosed with a terminal illness, Nationwide will waive the surrender charge and MVA on withdrawals. That is meaningful because it addresses one of the most common scenarios where someone would genuinely need to access annuity funds early. The waiver is not available in California or New York, and the maximum eligibility age for the nursing home waiver is 80, so it is worth understanding those limits before relying on it.
Liquidity and Surrender Schedule
The free-withdrawal provision allows 10% of contract value per contract year starting immediately — that is better than products that delay access for the first year. RMDs attributable to this contract are also exempt from both the surrender charge and the MVA, which is important for qualified money.
What makes this product more restrictive than it first appears is the MVA — Market Value Adjustment. On withdrawals above the free amount during the 4-year period, Nationwide applies both the surrender charge and an MVA. The MVA adjusts the effective penalty based on the difference between interest rates at issue and rates at the time of withdrawal. If rates have risen since purchase, the MVA increases the cost of a surrender. If rates have fallen, it reduces it. That means the real cost of an early exit is not fully knowable at the time of purchase — which is an important distinction from a plain CD or a MYGA without MVA.
| Contract Year | Surrender Charge |
|---|---|
| 1 | 7% |
| 2 | 7% |
| 3 | 7% |
| 4 | 6% |
Fees and Tradeoffs
There is no base contract fee. The only optional rider with a fee structure is the Return of Purchase Payment Rider, which lowers the credited interest rate in exchange for a guarantee that the death benefit will not fall below premiums paid. That rider cannot be added alongside the MVA feature, so on the MVA version you are reviewing here, it is not an available option.
The real fee to think about is structural. Nationwide earns a spread by investing your premium and crediting you a declared rate. That spread is implicit in the rate you receive, not disclosed as a line-item charge. The tradeoff is straightforward: in exchange for certainty and principal protection, you accept a credited rate below what direct bond or equity exposure might offer. For a short-term allocation, that is a reasonable trade.
Product snapshot
| Feature | Details |
|---|---|
| Product Type | Fixed Annuity |
| Surrender Period | 4 years |
| Issue Ages | Owner: 0–100; Annuitant: 0–90 |
| Minimum Premium | $10,000 |
| Crediting Methods | Fixed declared rate |
| Free Withdrawal | 10% of contract value per contract year, available immediately; noncumulative. RMDs, death benefit distributions, and annuitization distributions are also exempt from CDSC and MVA. |
| MGSV | 0.50% guaranteed minimum floor rate on contract value (2.55% in New York) |
| Death Benefit | Full contract value at time of annuitant's death; MVA is waived on death benefit distributions |
| Income Rider | Not available |
| Premium Bonus | None |
| Availability | Not approved in CA or NY. Nursing home and terminal illness waivers not available in CA or NY. MVA may not be available in some states. Minimum guarantee rate is 2.55% in New York. |
Carrier snapshot
Legal Entity: Nationwide Life Insurance Company
Parent: Nationwide Mutual Insurance Company
AM Best Rating: A+
Final take
Nationwide Secure Growth 4-Year with MVA is a clean, no-frills MYGA for someone who wants certainty over four years. If the money is truly set aside, the rate is competitive, and the free-withdrawal provision covers any expected cash needs, this product works well for what it is. The carrier credibility and the nursing home waiver add meaningful value.
The case against it is equally clear: a 7-7-7-6% surrender schedule combined with an MVA is a significant restriction for a 4-year product. Anyone who thinks there is a real chance they'll need more than 10% of the balance before maturity should look at shorter-duration or no-MVA alternatives. And the lower deposit tier is noticeably less attractive than the $100,000+ rate, so smaller balances may find better value elsewhere.