Advisors Looking for Flexible Life Insurance Products Now Have More Options
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Advisors Looking for Flexible Life Insurance Products Now Have More Options

COLUMBUS  — Advisors looking for flexible life insurance products that offer clients affordable, guaranteed protection that can be customized to meet their specific needs now have more options.

Nationwide announced that Nationwide No-Lapse Guarantee Universal Life (UL) II, a universal life product, now provides an optional return of premium feature that allows clients an access window to recover all or a portion of their premium should they no longer desire coverage.

With up-to-age 70 and up-to-age 120 coverage options, clients can dial in their specific coverage needs. They may wish to cover themselves up to typical retirement age, or for their entire life.

“Because the goal of this product is death benefit protection rather than accumulation, it’s more affordable than most other permanent products,” said Eric Henderson, senior vice president of Individual Products & Solutions for Nationwide Financial. “It also offers flexible premiums and coverage lengths that allow you to adjust the policy as your needs change.”

In nearly all states, the new No-Lapse Guarantee UL II product can be paired with Nationwide’s newest accelerated death benefit long-term care rider. This rider, through its cash indemnity payout design, was specifically crafted to offer flexibility of care to clients, including the ability to pay for informal care while staying in the comfort of their own home.

Product benefits

Tax Advantage – Income tax-free death benefit for your beneficiaries.

Premium Flexibility – Flexible premiums schedule to meet your needs with a choice of guaranteed periods.

Options to customize and manage your policy – Optional riders to customize your policy to fit your needs and an Automated Premium Monitor to help you manage your policy.

Target clients

Nationwide No-Lapse Guarantee II may be a good fit for clients who are:

  • In need of flexible death benefit guarantee options
  • Seeking life insurance that offers guarantees
  • Interested in planning for possible long-term care expenses

The No-Lapse Guarantee UL II product is the first on Nationwide’s new life insurance administration platform, which is part of the major digital investment and transformation underway to enhance and simplify member and advisor interactions.

For more information about Nationwide No-Lapse Guarantee UL II, please visit www.nationwide.com/no-lapse-guarantee-UL-II.jsp

Be sure to choose a product that meets long-term life insurance needs, especially if personal situations change — for example, marriage, birth of a child or job promotion. Weigh the costs of the policy, and understand that life insurance has fees and charges associated with it that vary based on your decisions and characteristics including sex, health, age and tobacco use. Riders that customize a policy to fit individual needs usually carry an additional charge.

About Nationwide

Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best and Standard & Poor’s. The company provides a full range of insurance and financial services, including auto, commercial, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; banking and mortgages; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com.

Life insurance is issued by Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company, Columbus, Ohio.

All guarantees and benefits of the insurance policy are subject to the claims-paying ability of Nationwide Life and Annuity Insurance Company.

August 28, 2018

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