Nationwide Life Insurance offers a variety of insurance plans, including whole life insurance, term life insurance, and universal life insurance. The agency thrives on its strong financial strength and great customer reviews, which has helped it become a market leader in the insurance industry. With over 90 years of service in the industry, the insurance provider has earned A ratings from major credit rating firms.
Summary: Nationwide offers life insurance with various riders to fully customize your policy.
Fees, Coverage & Policies
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|HQ||One Nationwide Plaza, Columbus, OH|
|Policy||Term Life Insurance, Whole Life Insurance, Universal Life Insurance, Variable Life Insurance|
|Coverage||$100,000 – $5,000,000|
|Term Length||10, 15, 20, 30 years|
|Medical Exam||May Need|
|Issue Age||18 to 70|
Nationwide has received a top rating from the National Association of Insurance Commissioners (NAIC) based on customer feedback. In 2018, it was listed at position 67 out of 500 companies on the Fortune list, making it a household name in the insurance business.
A 2014 LIMRA Study revealed that 57 percent of Americans are unable to save regularly. Additionally, a larger percentage focuses on paying off their debts and finding it difficult to save for their loved ones. Nationwide Life insurance provides some security for your family’s financial future in case you happen to pass on.
Nationwide offers online quotes for term life insurance plans, but the whole life insurance requires you to speak to a life insurance expert. The specialist walks you through the application by calculating your total income, expenses, assets, and coverage that is needed. The insurer usually recommends that policyholders should get a policy that is 5x their annual income.
To get your online quote for term life insurance, you need to enter the following details:
You will receive a quotation including your monthly premiums and death benefit amount. Nationwide only allows the online purchase of term life insurance. For all other insurance policies, you’ll need to speak to an insurance specialist.
Some of the policy plans offered by the insurance agency include:
It’s one of the most affordable policy plans that Nationwide offers. The agency’s Nationwide® Guaranteed Level Term coverage terms include 10, 15, 20, and 30 years. The agency recommends the following steps to guide you in determining the right term life coverage:
Nationwide’s term life insurance is renewable until the age of 95 years. Premiums remain stable, and the payout is tax-free. The agency also allows you to convert your term life policy to a permanent policy when you want.
You can make your premium payments annually, semiannually, quarterly or monthly. This type of life insurance will pay out stable premiums for the life of the policy and has a predetermined death benefit.
The policy can be a good fit for individuals looking for predictable premiums, lifelong coverage, or to build a cash value tax-free. The provider also allows policyholders to customize their plans with riders at an affordable cost. Nationwide offers two types of whole life insurance:
This product provides coverage to the policyholder for their entire life. Beyond permanent life protection, you are insured with a cash value that grows based on the interest rate set by your insurance company. This policy offers flexibility as it allows you to adjust your protection level or the frequency of making premium payments. Some of the universal policy plans offered by Nationwide include:
It helps you to build cash value and re-invest your money into sub-accounts that are professionally managed.
Nationwide Life Insurance offers policyholders a chance to purchase riders to customize their plans. The riders allow you to enjoy living benefits, provide coverage to your loved ones or even waive premiums.
Nationwide has robust customer service that is readily available to help you with claims. The provider offers a digital platform that enables you to make your monthly premiums and file your claims online. Nationwide also offers a fully optimized mobile app on Android OS and iOS that helps you to track your claims’ status. The provider may require a death certificate as proof of death.
You can contact the customer support staff via telephone or email, and you can schedule a callback within one business day. In addition, Nationwide also uses a Test-Driven Development technique to communicate with policyholders with a hearing impairment.
The support staff is well coordinated to ensure all your individual needs are addressed. The insurance provider has set various support departments to offer personalized support services. Your concerns or questions will be forwarded to the right department for expert advice.
You can reach the support staff through the following:
Sales & Insurance Experts:
Working hours: 9:30am – 5:00pm ET, Monday – Sunday
Service & Claims:
Working hours: 8:00am – 11:00pm ET, Monday – Sunday.
Nationwide has received an “A” rating from leading financial institutions such as AM Best regarding financial stability. The provider has been processing life insurance claims since 1926, so it has a strong track record. The insurer also uses end-to-end encryption to protect your data from unauthorized users and monitors your account activity to identify potential fraud.
With an easy and fast online claim filing, Nationwide processes claims within the shortest time to cover funeral expenses and ensure your loved ones maintain normal living standards. In addition, the insurer stands out with its highly customizable policy plans with the various riders to cover the many uncertainties in life.
This material is not a recommendation to buy, sell, hold or roll over any asset, adopt an investment strategy, retain a specific investment manager or use a particular account type. It does not take into account the specific investment objectives, tax and financial condition or particular needs of any specific person. Investors should discuss their specific situation with their financial professional. Keep in mind that, as an acceleration of the death benefit, exercising the Chronic Illness Rider, the Critical Illness Rider or the Terminal Illness Rider payout will reduce the death benefit by an amount greater than one dollar for every dollar paid. Make sure life insurance needs will still be met, even if the rider pays out in full. A life insurance purchase should be based on the life policy and not solely on riders or features. Products are issued by Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company, Columbus, Ohio. Nationwide, the Nationwide N and Eagle and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company. © 2021 Nationwide. LAM-4244AO (7/21)