Nationwide Life Insurance Review

Check out our latest Nationwide Life Insurance review to learn more about getting a life insurance policy.

Nationwide has become one of the largest insurance and financial services companies in the world – but how did they get there? 

Nationwide started as Farm Bureau Mutual Automobile Insurance Company, selling their first policy in 1926. The next ten years included expanding to fire, casualty, and farmers insurance, with the first life insurance policy being written in 1934. Hoping to one day sell insurance coast to coast, the company’s name changed to “Nationwide,” with the popular jingle being first introduced in 1969. 

Over the past 95 years, Nationwide has made strides beginning with acquiring smaller insurance subsidiaries, pioneering seat belt incentives, and pledging $350 million in venture capital to help start-ups get off the ground. The Nationwide Foundation has gifted $130 million to Nationwide Children’s Hospital since 2006. 

When it comes to their customers, Nationwide offers important benefits with their policies especially when it comes to term life.

Nationwide Insurance Financial Strength

  • Moody’s = A11
  • AM Best = A+2
  • Standard & Poor’s = A+3
  • Fortune 100 Company

1. Received 3/10/09; affirmed: 5/27/20, 2. received: 10/17/02; affirmed: 12/17/20, 3. received: 12/22/08; and affirmed: 06/23/20

Nationwide Term Life Insurance Products

  • Usually the most affordable option with the ability for use when a family’s need is the greatest
  • Available for 10, 15, 20, or 30-year increments, and is renewable annually until the policyholder reaches age 95
  • Option for conversion to a permanent life insurance policy at any time during the term period until the holder reached age 65
  • Policy’s premium will not increase as time goes on
  • Beneficiaries’ payout in case of the policy holder’s death is typically free of any income tax and continues to have value for the extent of the policy

Life insurance benefits you can access while still living

Sometimes the unexpected occurs. These benefits allow you access a portion of your death benefit when one of these situations arises. 

  • Critical illness benefit – a diagnosis with a specific critical illness
  • Chronic illness benefit – when you need care as a result of a chronic health or memory condition
  • Terminal illness benefit – a diagnosis with a terminal illness

Critical and chronic illness benefits are automatically included on policies of at least 15 years for clients 18 to 55. The terminal illness benefit includes in all policies. There is no additional cost unless you use them.

This additional coverage assists in covering the financial burdens from these unexpected events. This is whether the expense is medically related or not.

Nationwide’s Steps to a Successful Term Life Policy

  • Decide how many years anticipate to have the highest need (length of a mortgage, children’s education, etc)
  • Using a need analysis calculator, determine how much the beneficiary will need to replace the policy holder’s income
  • Choose a beneficiary to receive the funds in case of the policy holder’s death. This can be one or multiple persons, a trust, entity, or the policy holder’s estate

What Sets Nationwide Apart?

Aside from their new critical illness coverage, Nationwide has a team of insurance specialists. They are ready to answer all questions and provide guidance. This is whether a caller is ready to purchase a policy or not. Rather than just selling a product, the team focuses on educating callers. They educate on Nationwide’s different life offerings to find the best policy for them and their families. The team is available Monday-Friday, from 9:00 am-7:30 pm EST, at 855-863-9621.

How to Sign Up for Nationwide’s Term Life Offering

Nationwide provides the ability to apply for term life policy online or by phone through our team of insurance specialists. These specialists are available by phone to help with the application process, answer questions and provide application status updates.

Cross one thing off your #adulting to-do list by applying for a term life quote using Nationwide’s quick quote tool, or start your application now!

This material is not a recommendation to buy, sell, hold or rollover any asset, adopt an investment strategy, retain a specific investment manager or use a particular account type. It does not take into account the specific investment objectives, tax, and financial condition, or particular needs of any specific person. Investors should discuss their specific situation with their financial professional.

Keep in mind that, as an acceleration of the death benefit, exercising the Chronic Illness Rider, the Critical Illness Rider, or the Terminal Illness Rider payout will reduce the death benefit by an amount greater than one dollar for every dollar paid. Make sure life insurance needs will still be met, even if the rider pays out in full. A life insurance purchase should be based on the life policy and not solely on riders or features.

Products are issued by Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company, Columbus, Ohio. 

Nationwide, the Nationwide N and Eagle and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company. © 2021 Nationwide