Nationwide life insurance policies
Term life insurance. Nationwide offers coverage in 10-, 15-, 20- or 30-year terms, and most policies can be converted to permanent life insurance before a deadline. Available riders include an accelerated death benefit, which allows you to withdraw a portion of the death benefit early if you’re diagnosed with a terminal illness. Nationwide also offers term coverage for children, as well as a waiver of premium rider. This pauses your premium payments if you become disabled and can’t work.
Whole life insurance. Nationwide’s whole life insurance coverage starts at $10,000. You can choose to pay off the policy within the first 20 years, or pay premiums until you turn 100. Additional whole life insurance riders include term life coverage for your children and an accidental death benefit that increases the payout if you die in an accident.
Nationwide also offers a no-medical exam option through its simplified whole life policy. However, you may still need to answer questions about your health.
Universal life insurance. Nationwide offers several universal life insurance products. The lineup includes guaranteed universal life insurance and indexed universal life insurance, and the company sells a survivorship policy that covers two people, typically spouses. In some cases, you can add an overloan protection rider, which prevents your coverage from lapsing if you borrow against the policy’s cash value and the loan exceeds the account total.
Nationwide Life Insurance has long been a trusted name in providing financial security and peace of mind to families across the United States. With a range of policy options tailored to meet various needs and budgets, Nationwide offers comprehensive coverage designed to protect loved ones in times of uncertainty. In this article, we’ll explore the key features and benefits of Nationwide Life Insurance policies issued in the USA.
The Importance of Life Insurance
Life insurance serves as a crucial financial tool for safeguarding against the uncertainties of the future. It provides a source of income replacement, debt coverage, and financial stability for beneficiaries in the event of the policyholder’s death. With Nationwide Life Insurance, policyholders can rest assured knowing that their loved ones will be supported financially, even in their absence.
Policy Options
Nationwide offers a variety of life insurance policies to suit different needs and preferences:
- Term Life Insurance: Term life insurance provides coverage for a specified period, typically ranging from 10 to 30 years. It offers affordable premiums and a straightforward death benefit payout structure, making it an attractive option for individuals seeking temporary coverage.
- Whole Life Insurance: Whole life insurance offers lifelong protection with guaranteed premiums and a cash value component that accumulates over time. Policyholders can access this cash value through loans or withdrawals, providing a source of liquidity for emergencies or retirement planning.
- Universal Life Insurance: Universal life insurance combines the flexibility of term insurance with the investment component of whole life insurance. Policyholders can adjust their premiums and death benefits to adapt to changing financial circumstances, making it a versatile option for long-term financial planning.
Benefits of Nationwide Life Insurance
- Financial Security: Nationwide Life Insurance policies provide a safety net for beneficiaries, ensuring that they are financially supported in the event of the policyholder’s death. This can help cover living expenses, mortgage payments, education costs, and other financial obligations.
- Tax Advantages: Life insurance death benefits are generally tax-free to beneficiaries, providing a tax-efficient way to transfer wealth to the next generation. Additionally, the cash value component of whole and universal life policies grows tax-deferred, allowing for potential tax savings over time.
- Peace of Mind: Knowing that loved ones are protected in the event of unforeseen circumstances can bring peace of mind to policyholders and their families. Nationwide Life Insurance policies offer reassurance and security during life’s uncertainties.
Nationwide life insurance rates
Below are monthly rates for a 20-year, $500,000 term life insurance policy from Nationwide. These are sample rates for a nonsmoking man and woman in excellent health — the final quote you’re offered will depend on factors like your age, health, lifestyle, occupation and driving record.
| Age | Monthly rate – man | Monthly rate – woman |
|---|---|---|
| 20 | $41.13 | $31.94 |
| 30 | $22.75 | $19.69 |
| 40 | $31.94 | $27.13 |
| 50 | $77.44 | $57.75 |
| 60 | $250.25 | $176.31 |
Nationwide Life Insurance policies issued in the USA provide essential protection and financial security for individuals and families alike. With flexible policy options, tax advantages, and peace of mind, Nationwide remains a trusted partner in helping Americans plan for the future. Whether you’re looking for temporary coverage with term insurance or lifelong protection with whole life insurance, Nationwide has a solution to fit your needs. Consult with a Nationwide insurance agent to explore your options and find the right policy for you and your loved ones.
