Surrender Value Enhancement Benefit
If a policy is cancelled during the surrender charge period, a surrender charge is deducted from the cash value. By adding a Surrender Value Enhancement Benefit, your surrender charges can be adjusted if your policy is surrendered during the first four years.
Benefit details
The Surrender Value Enhancement Benefit is only available on corporate-owned life insurance policies and must be selected when the policy is issued.
This benefit may be known by a different name. Please refer to your insurance contract, product prospectus or investment professional for specific details on how this rider affects your surrender charges. Your investment professional will be able to discuss the cash surrender value of life insurance.
Available products
The Surrender Value Enhancement Benefit is available for use with the following life insurance policies.
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Universal
Nationwide YourLife® Current Assumption UL
Competitively-priced life insurance protection that can also offer some growth potential.Nationwide YourLife® Indexed UL
Permanent death benefit protection, minimum guarantees and the potential for growth.Nationwide Indexed Universal Life Accumulator II
Protection for your family, with strategies and tax advantages for more cash value and income potential.Nationwide YourLife® Indexed UL Accumulator
Permanent coverage with the opportunity for higher return on cash value to supplement retirement income.Nationwide YourLife® Indexed UL Protector
Affordable permanent coverage, lifetime death benefit options and potential for some cash value accumulation.Nationwide Indexed Universal Life Protector II
Cost-efficient, permanent death benefit coverage with the option for a lifetime guarantee and some cash value growth potential. -
Variable
Nationwide® Variable Universal Life Accumulator
Death benefit protection with a focus on cash accumulation and distribution.Nationwide® Variable Universal Life Protector
Cash value growth potential with a death benefit that can be guaranteed to age 120.Nationwide YourLife® Accumulation VUL
Life insurance protection and the ability to overfund the product when you’re already contributing the maximum allowable amount to your qualified retirement plans.Nationwide YourLife® Protection VUL
Guaranteed death benefit and upside market potential.Nationwide YourLife® Survivorship VUL
Covers 2 lives instead of 1, and pays a death benefit when the second insured person dies.
Optional riders that customize a policy to fit individual needs usually carry an additional charge and are only available through the purchase of variable universal life insurance products. Riders may be known by different names in different states and may not be available in every state.
Variable products are sold by prospectus. The product and underlying fund prospectuses contain this and other important information. Investors should read them carefully before investing. To obtain a product prospectus call 1-800-321-6064, contact an insurance professional or click on the prospectus link on Nationwide.com.
Guarantees are subject to the claims-paying ability of the issuing life insurance company. They don't apply to the investment performance or safety of the underlying investment options. Underlying subaccounts are only available as investment options in variable insurance contracts issued by life insurance companies. They are not offered directly to the general public.