Online Life Insurance Policy Primer

A life insurance policy can:

•  Provide financial support to your loved ones if you die unexpectedly
•  Prepare for the future and your retirement years
•  Preserve the assets you’ve worked hard to accumulate
•  Pass along what you’ve built to those you care about

An online life insurance policy primer

There are four types of life insurance policies.

Term life insurance
No-frills insurance for a specific, but temporary, period of time.

Whole life insurance
Also called permanent life insurance, it offers long-term protection, fixed premiums and cash value.

Universal life insurance
Permanent life insurance with flexible premiums that lets you accumulate cash value and take out tax-free loans¹. If you choose to take loans or partial withdrawals, the surrender value and the death benefit payable to your beneficiaries will be reduced. Premiums are flexible as long as there is sufficient cash value to cover monthly policy charges.

Variable universal life insurance
Death benefit protection with investment features that can help you invest for retirement.

^{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.}

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

Guarantees and protections are subject to Nationwide's claims-paying ability. Life insurance is issued by Nationwide Life Insurance Company, or Nationwide Life and Annuity Insurance Company, Columbus, Ohio.