Note: This is an executive version of Nationwide® YourLife Indexed UL which is designed to be used with businesses who are looking for a market-based strategy to recruit, reward and retain top talent or for business succession planning. This executive version offers unisex rates and preferred group underwriting, which includes guaranteed issue and simplified issue (where applicable).
Overview
Nationwide Executive Indexed UL is a universal life product that offers permanent death benefit protection, minimum guarantees, index-linked accumulation and flexible access to cash values.
Target market
This product is designed for people ages 35 to 55 looking for permanent death benefit protection, minimum guarantees and the potential for growth.
Key features
- Flexible death-benefit guarantees − a 20-year base policy death benefit guarantee plus the optional Extended Death Benefit Guarantee rider
- Choice of annual point-to-point and monthly averaging indexed crediting strategies
- An indemnity-style long-term care rider that gives your clients more control over their money while maintaining their independence
Product literature/support materials
Product details
- Minimum Specified Amount: $100,000
- Surrender charge period: 15 years for issue age up to 65, declining to 10 years for issue ages 70+
- Fees:
- Premium charge of 6%, guaranteed not to exceed 10%
- Monthly administrative fee is currently $10/month, guaranteed not to exceed $20/month
- Monthly cost of insurance varies by age, sex, duration, death benefit option, total specified amount, smoking status, rating and accumulated value
- Monthly per-thousand charge varies by age, sex, death benefit option and total specified amount; assessed for the first 15 years following policy issue and any increase in specified amount; rate per $1,000 decreases as the specified amount increases (the decrease is not guaranteed)
Optional features
- Additional Term Insurance rider
- Change of Insured rider (only available with GI/SI corporate-owned and corporate-sponsored arrangements)
- Overloan Lapse Protection rider
- Surrender Value Enhancement benefit (only available with GI/SI corporate-owned and corporate-sponsored arrangements)
- Waiver of Monthly Deductions rider
Get started
For more information or to make a case, contact your Nationwide® wholesaler or Nationwide Business Solutions Group at 1-877-351-8808.
Nationwide and Nationwide YourLife are service marks of Nationwide Mutual Insurance Company.
