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Nationwide YourLife No-Lapse Guarantee UL is the latest addition to Nationwide's broad selection of fixed life insurance products, which also includes Survivorship UL, Single Premium UL, and Current Assumption UL (formerly known as Accumulation UL).
"This product was designed to meet the needs of clients between 50 and 70 who are seeking competitively priced, permanent death benefit protection with guarantees that can help them leave a legacy for loved ones or a favorite charity," said Peter Golato, senior vice president for Nationwide Financial. "We believe it will be especially attractive for affluent to upper-middle market clients who have a lower risk tolerance."
As described by the Company, product features are:
Nationwide YourLife No-Lapse Guarantee UL offers a variety of features that provide clients greater flexibility and control over their life insurance coverage. These features include:
- Protection that's there when clients need it - The policy's no-lapse guarantee ensures that the death benefit will be guaranteed for life, as long as clients pay the required premiums.
- Optional long-term care rider - For an additional charge, clients can receive an indemnity-style benefit that's paid directly to the policy holder if they need it or a death benefit to their loved ones if they don't.
- Automated premium monitor - At no additional cost, Nationwide offers a three-tiered safety net to help protect the no-lapse guarantee on the client's policy and help them stay on track with their premium payments.
- Supplemental coverage option - This feature allows clients to turn between 10-50 percent of their total specified amount into temporary insurance to help get the coverage they need at a reasonable price.
- More protection for the money - Clients are allowed to make premium payments to age 120, which can help them get better pricing.
Nationwide is one a diversified insurance and financial services organizations and is rated A+ by A.M. Best.
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