This rider (available at an additional cost) allows the policy owner to change the insured on the policy while it's in force. This is usually used by businesses that insure a key person and may want to switch the insured when an employee is replaced.
It's important to note that changing the insured may cause a taxable event for the policy owner. Neither the company nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions.
For more information or to make a case, contact your Nationwide wholesaler at 1-800-321-6064.