• Final Expenses
• College/Child's Education
• Life Insurance as an Asset
• Leave Money to a Charity
• Portable Life Insurance
• Leave Money to my Heirs instead of IRS
• Long Term Care
• Mortgage Protection
• Small Business Owner

I Need to Pay for My Child’s Education

To meet this need, you may be most interested in products that have features that could be used to pay a child’s education costs – regardless of whether you’re there or not.

Consider these life insurance policy features:

•  guaranteed cash value – so you know a certain amount of money is available
•  access to your money – so you can use it for tuition and other education expenses
•  market participation – so your policy’s value has the potential to increase based on the performance of any investments in your policy

The tax advantages of various life insurance products can be helpful in funding your child’s education − from tax-free death benefits to policy loans without tax penalties.¹ And finally, the death benefit feature would give your loved ones the option of paying education costs in the event of your death.

Talk to your insurance professional about how to use life insurance to plan for college funding.

Guarantees and protections are subject to Nationwide's claims-paying ability.

¹ Assumes the contract qualifies as life insurance under section 7702 of the Internal Revenue Code (IRC) and is not a modified endowment contract (MEC) under section 7702A. Most distributions are taxed on a first-in/first-out basis as long as the contract meets non-MEC definitions under section 7702A. Loans and partial withdrawals from a MEC will generally be taxable and, if taken prior to age 59½, may be subject to a 10% tax penalty.

Remember that neither the company nor its representatives give legal or tax advice, so consult your attorney or tax advisor about those issues.

Not a deposit • Not FDIC or NCUSIF insured • Not guaranteed by the institution • Not insured by any federal government agency • May lose value