Secure Growth 5-Year with MVA review

Yes, with one important caveat. It is a good product for someone who wants a locked 5-year rate, has $100,000 or more to commit, and understands that the MVA means early surrender value can go up or down depending on where interest rates are at exit. It is less appealing for someone depositing less than $100,000 (the rate drops to 4.45%), or for someone who wants the simplicity of a fixed annuity without the added variable of an MVA.

The core reason is straightforward: Nationwide's A+ financial strength rating combined with a competitive 5-year guaranteed rate. For a saver moving IRA or non-qualified money out of a low-rate bank CD or a money market fund and wanting a five-year commitment with a defined outcome, this product delivers that cleanly. The immediate 10% free-withdrawal provision adds a modest liquidity buffer, and the RMD waiver means this fits neatly inside an IRA or qualified account without forcing awkward workarounds.

I think this product is best suited for someone in the 55–75 range who has $100,000 or more in tax-deferred or non-qualified savings, wants a clear five-year accumulation outcome, and is not planning to tap the principal during the contract term. Buyers looking to consolidate an expiring CD or a maturing fixed annuity, particularly those already in Nationwide's ecosystem, will find this straightforward. It is less compelling for someone who needs partial liquidity above 10% per year, is depositing under $100,000 and can find a 5-year MYGA with a better sub-$100k rate elsewhere, or is shopping primarily for retirement income generation.

You are buying a 5-year promise. Nationwide guarantees to credit a stated rate — 4.45% under $100,000, 5.15% at $100,000 or more — for the full five years, regardless of what happens to interest rates in the market during that period. At the end of year five, you get your principal plus accumulated interest, and you can renew, withdraw, or roll the money elsewhere without penalty. The MVA feature modifies what happens if you exit early — it adjusts the surrender value based on a formula tied to prevailing interest rates. That means if rates have risen since you bought, an early exit could cost more than the stated CDSC alone would suggest. If rates have fallen, the MVA could actually work in your favor. It is not a hidden fee; it is a rate-sensitivity mechanism built into the contract.

The credited rate is fixed at contract issue for the full five-year guarantee period. There are no indices, no participation rates, no caps, no spreads — just a guaranteed rate that accumulates tax-deferred until you withdraw. The two rate tiers are straightforward: deposits under $100,000 earn 4.45%; deposits of $100,000 or more earn 5.15%. These rates are as of May 1, 2026, per Wink data, and will change for new contracts over time. After the initial five-year period, the rate renews annually — Nationwide will set a new declared rate each year. The minimum the rate can ever renew to is 0.50% (2.55% in New York), which is the floor guarantee protecting you from a near-zero credited environment. The floor is not a competitive rate; it is a backstop.

The most important secondary feature is the Nursing Home Waiver and Terminal Illness Waiver — both available at no additional cost. If the owner is confined to a nursing facility for at least 30 consecutive days, or is diagnosed with a terminal illness with a life expectancy of 12 months or less, the CDSC and MVA are waived on withdrawals. That matters because it converts what could otherwise be a rigid 5-year lockup into something with a meaningful exit valve for the scenarios where people most need liquidity. The eligibility age cap is 80, and neither waiver applies in California or New York, but for most buyers this is a real safety feature rather than a marketing footnote.

This product allows 10% of contract value per year as a free withdrawal, available from day one — not after a waiting period. That is a meaningful feature for a MYGA. The 10% is noncumulative, so unused amounts do not carry forward to the next year. Beyond the free amount, the surrender charge schedule applies: 7% in years 1 and 2, stepping down to 6%, 5%, and 4% in years 3 through 5. On top of that, the MVA — Market Value Adjustment — can increase or decrease the surrender value depending on the interest rate environment at the time of exit. In a rising rate environment, the MVA typically works against the exiting policyholder; in a falling rate environment, it can reduce the effective penalty. This is the most important liquidity consideration for this specific product version. Buyers who want to avoid that uncertainty entirely should compare the non-MVA version of Secure Growth if available in their state. RMD amounts are not subject to CDSC or MVA, and death benefit distributions are also exempt. Nationwide is not available in California or New York.

There are no annual contract fees and no administrative charges — the product runs on the credited-rate spread, not explicit fees. There is no rider fee because there is no rider to buy. The Return of Purchase Payment Rider is technically available but comes at the cost of a reduced credited interest rate, and it cannot be elected alongside the MVA feature. For most buyers who are choosing this product specifically for its MVA-enabled rate, the return-of-premium rider is not relevant. The meaningful costs are structural: the CDSC schedule locks liquidity for five years, and the MVA adds a second layer of rate-sensitivity that can magnify the cost of early exit in a rising-rate environment.

Legal Entity: Nationwide Life Insurance Company

Parent: Nationwide Mutual Insurance Company

A.M. Best Rating: A+