Nationwide Life and Annuity Insurance Company filed a new fixed annuity product in Connecticut called the Nationwide Stable Income Fixed Annuity Contract. It is a single premium, deferred fixed annuity targeted at individuals aged 45 to 85 who want guaranteed lifetime income without traditional annuitization.

This annuity features guaranteed interest rate periods, a Guaranteed Lifetime Withdrawal Benefit (GLWB) rider available at issue, and a Market Value Adjustment (MVA) feature affecting withdrawals or surrenders during the first 7 years. It includes waivers of surrender charges for long-term care, terminal illness, or death. Flexible tax-qualified endorsements are available, including IRA, Roth IRA, SIMPLE IRA, Qualified Plan, and Charitable Remainder Trust options.

The contract is designed for distribution through third-party financial institutions, broker-dealers, and wirehouses, not directly through Nationwide agents. The product was approved in Ohio on April 23, 2025, and filed in Connecticut for use starting July 14, 2025, or upon state approval.