New Nationwide YourLifeSM Term Insurance unveiled
Term life insurance from Nationwide Financial® offers affordable protection for consumers
Columbus, Ohio— One reason why many Americans say they don’t have life insurance – or are underinsured – is the cost. To help consumers make easier, affordable choices, Nationwide Financial Services, Inc. (NYSE: NFS), today launched the first in a series of new Nationwide YourLifeSM insurance products.
“Protecting our families is something many Americans think about every day,” said Peter Golato, senior vice president for Nationwide Financial. “But, sadly, we know many consumers either don’t have life insurance or may be underinsured for many reasons. Cost is cited as a major reason, and fear of the unknown is often another. Our new term life insurance product is designed to be easy to understand, affordable and allow consumers to make simpler choices to protect their most valuable asset, their families.
“Adding our new term life product to our existing suite of products ensures that we are providing consumers with a variety of life insurance choices to meet their needs,” Golato added.
Nationwide YourLifeSM Term Insurance
Nationwide’s new term product is for consumers seeking low-cost life insurance with high death benefit protection. They can choose 10-, 20- or 30-year level term life insurance with a guaranteed level premium for the length of the selected term. Afterward, premiums are guaranteed, but increase annually to age 95.
Several riders are available, including:
• 20-year Term Spouse
• Children’s Term Insurance
• Waiver of Premium Disability Benefit
Additionally, Nationwide YourLifeSM Term Series may be converted – without evidence of insurability – to any level premium, level death benefit, permanent plan of whole life insurance currently offered by Nationwide at the time of conversion.
“In fact, Nationwide allows term conversions to any permanent product we currently offer – except for joint life or survivorship-type products – including our ULtimate universal life product, our Next Generation II variable universal life, and our other premier products,” Golato said.
Certain conditions apply, so consumers should consult with their insurance professional to discuss costs, advantages and disadvantages of converting the base policy or converting the spouse or child rider. Riders and endorsements may not be available in all states and most involve additional cost.
Important Consumer Information
As with all life insurance, guarantees are subject to the claims-paying ability of the issuing life insurance company. As consumers’ personal situations change (for example, marriage, birth of a child or job promotion), so will their life insurance needs. Care should be taken to ensure this product is suitable for long-term life insurance needs. Any associated costs should be evaluated before making a purchase.
Life insurance has fees and charges associated with it that include costs of insurance that vary with such characteristics of the insured as gender, health and age, and has additional charges for riders that customize a policy to fit individual needs. All riders may not be available in all states.
Neither Nationwide nor its representatives give legal or tax advice. Consumers should contact
their legal or tax advisor for answers to their specific questions.
About Nationwide Financial
Nationwide Financial Services, Inc. (NYSE: NFS), a publicly traded company based in Columbus, Ohio, provides a variety of financial services that help consumers investi and protect their long-term assets, and offers retirement plans and services through both public- and private-sector employers.
It’s part of the Nationwide group of companies, which offers diversified insurance and financial services. The group is led by Nationwide Mutual Insurance Company, which is ranked No. 104 on the Fortune 500 based on 2006 revenue.ii For more information, visit www.nationwide.com.
Life Insurance products are underwritten by Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company, Columbus, Ohio.
Nationwide, Nationwide Financial, the Nationwide Framemark and On Your Side are federally registered service marks of Nationwide Mutual Insurance Company. Nationwide YourLife is a service mark of Nationwide Mutual Insurance Company
Not a deposit • Not FDIC or NCUSIF insured• Not guaranteed by the institution • Not insured by any federal
government agency • May lose value
i Nationwide Investment Services Corporation, member NASD. In MI only: Nationwide Investment Svcs. Corporation.
ii Fortune Magazine, April 2007