Secure Growth 7-Year with ROP review

It depends on what you need. This is a good annuity for someone who wants a simple, guaranteed fixed rate, appreciates the Nationwide name, and is comfortable committing for seven years. It is less compelling for someone shopping primarily on rate — at the $10,000 minimum, the rate is 3.90%, which is lower than what many competing MYGAs offer at the same term. At $100,000 or more, the 4.15% rate is more competitive. I think this product earns its place for buyers who value the ROP guarantee and the carrier's A+ financial strength as much as yield.

The most practical reason to choose this product is certainty from a well-known carrier. Nationwide is one of the largest and most financially stable insurers in the country, and the A+ A.M. Best rating reflects that. The return-of-premium feature gives buyers a floor that most MYGAs do not automatically include — you are not just protected against earning nothing, you are protected against receiving less than you deposited. For a conservative saver who is genuinely worried about downside, that specific guarantee has real psychological and financial value.

I think Nationwide Secure Growth 7-Year with ROP is best for someone in or near retirement who wants to park a meaningful sum — ideally $100,000 or more — in a predictable, tax-deferred vehicle without any market exposure. It works well for qualified money (IRA, 401(k) rollover) where RMD treatment is confirmed. Buyers who are holding this inside a traditional IRA should confirm RMD handling with Nationwide directly, though the spec indicates RMD friendliness. This product is less attractive for someone whose first priority is maximizing yield, someone with a time horizon shorter than seven years, or someone who expects to need partial access beyond the 10% free-withdrawal allowance.

You are buying a guaranteed interest rate locked in for seven years, issued by one of the largest insurance companies in the United States. The rate does not fluctuate, there is no index exposure, and there is no investment risk inside the contract itself. What you give up in exchange is liquidity beyond the annual 10% free-withdrawal allowance and the ability to benefit if rates climb during your contract term. The return-of-premium rider is the distinguishing feature: at surrender, you are guaranteed to receive at least your original deposit, which is not a standard feature on most fixed annuities — it typically has to be added or is only available in certain designs. Here, it comes built in.

Nationwide Secure Growth 7-Year with ROP credits a fixed interest rate for the full seven-year term. There are two rate bands. As of the brochure date (April 1, 2025 rate sheet referenced in the materials), contracts below $100,000 receive 3.90% annually, and contracts at $100,000 or more receive 4.15% annually. Both rates are guaranteed for the entire seven-year surrender period — there is no renewal risk during the commitment.

Interest compounds tax-deferred inside the contract. There is no market value adjustment, which means your surrender penalties are predictable: if you need to access money in years one through seven above the free-withdrawal amount, you pay the stated charge and nothing more. No rate-environment penalty. That is a meaningful feature in a rising-rate environment.

The return-of-premium guarantee is the product's most important differentiating feature. In most MYGAs, surrender before maturity means facing surrender charges that could push your net value below your original premium — especially in early contract years. The ROP feature changes that math. Even in year one, if you surrender the contract in full, Nationwide guarantees you will receive at least your original deposit back. For a buyer who is already cautious about locking money away for seven years, this guarantee lowers the psychological barrier considerably. It also makes the product more defensible as an alternative to CDs for buyers who worry about what happens if their situation changes.

The free-withdrawal provision allows access to 10% of account value each year without penalty, available immediately from contract issue. That means a $100,000 deposit allows $10,000 in accessible cash per year without surrender charges, which covers RMD needs for most buyers in the early years.

Amounts above the annual free-withdrawal threshold are subject to the following schedule:

There is no MVA on this product — a real advantage versus many competing MYGAs where interest-rate movements can amplify early surrender costs. Nursing home and terminal illness waivers remove surrender charges if those circumstances arise. The ROP guarantee is also a liquidity backstop of a different kind: even at full surrender, you are guaranteed to receive at least your premium back.

There are no explicit contract-level fees on this product. No annual fee, no rider fee, no asset-based charge. The cost is implicit: by accepting the locked rate, you give up the ability to benefit from rate increases during your term. If MYGA rates climb to 5% or 6% in year two, you remain locked at your original rate for the remaining term.

The other tradeoff is the rate band structure itself. The difference between the sub-$100,000 rate (3.90%) and the $100,000+ rate (4.15%) is 25 basis points per year. Over seven years, that compounds to a meaningful difference in total accumulation. Buyers near the threshold who can consolidate funds to reach the higher band should do so.

Legal Entity: Nationwide Life Insurance Company

Parent: Nationwide Financial

A.M. Best Rating: A+