Term life case examples
Nationwide® Life Essentials℠
Meet Kayla
As a 31-year-old professional and a working mom, Kayla is managing her current financial responsibilities, but she also wants to protect her family members in case anything happens to her. Term life insurance works for Kayla because it offers life insurance protection for a specific period, as this type of policy offers coverage options for 10- or 20-year brackets of time.
The affordable premiums make this option a cost-effective way to secure substantial coverage, including a guaranteed death benefit, which will ensure that her family receives financial support to cover major expenses such as mortgage payments, income replacement and educational costs.
Most of all, Kayla appreciates the simplicity and predictability of the policy. Because the premiums remain level throughout the term, she has a clear understanding of the financial commitment.
For her, this is more than just a financial product; it’s a promise to her family that they will be taken care of, no matter what.
Guaranteed Level Term
Meet Mark and Lisa
A couple in their late 30s, Mark and Lisa are busy with their careers and raising their two young children. They’ve always been careful with their finances, but they’ve realized that they need to secure their family’s future with life insurance.
After consulting with their financial professional, they selected the Nationwide Guaranteed Level Term policy, opting for a 30-year term. This longer-term coverage will make sure that their children get through college and into adulthood.
The policy comes with level premiums, so their rates won’t increase at all for the entire term. They also appreciate that the death benefit their family would receive is not subject to income taxes.
The policy also includes Living Access Benefits, which lets them access a portion of that death benefit early if one or both of them are diagnosed with a chronic, critical or terminal illness. This feature adds an extra layer of security, letting Mark and Lisa know that they have options if they are faced with serious health issues.