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Anyone know about the Nationwide Linc variable annuity? [View all]
It is identified as the Nationwide Lifetime Income Rider. A variable annuity.
It has to be in for 10 years before payout begins.
They show it with guarantee 7% simple interest with 5% payout for my age.
If I put in $100k which I don't have any intention for that amount the projected value will be $170k at the 10 year period.
At 1 year out the payout would be $5k, Y2 would be $5,350, Y3 would be $5,700, and Y10 would be $8,500. I'm not sure about the calculations. I seem to be missing something.
Are there any concerns about this plan?
2 replies
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