Life Insurance Protection That Stays With You
Universal life insurance provides permanent life insurance protection and access to cash values that grow tax-deferred. The major advantage of UL is flexibility: you can change the protection level of the policy (within bounds) and you control the amount and frequency of payments (again, within bounds).
This life insurance offers protection for your family and strategies for leaving a legacy to them. It can also help small business owners with continuation planning.
Find out more in our 5-Minute Guide to Universal Life Insurance .(PDF)
Nationwide Term Life Insurance
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Advantages and disadvantages of universal life insurance
A universal life insurance policy has the flexibility to adjust to your changing needs.
Your policy's cash value earns interest based on a contractually-stated financial index (or a blend of indices), and this growth is tax-deferred. You can access your cash value almost anytime.1
Keep in mind that as your life changes (i.e., marriage, birth of a child or job promotion), so will your life insurance needs. Take care to ensure universal life insurance is suitable for your long-term needs. You should weigh any associated costs before making a purchase.
Life insurance has fees and charges associated with it that include costs of insurance that vary based on the insured person’s sex, health and age, and has additional charges for riders that customize a policy to fit your individual needs.
Please read this important information
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.
1 This assumes contract qualifies as life insurance under Internal Revenue Code (IRC) Section 7702. Most distributions are taxed on a first-in/first-out basis as long as the contract remains in force and meets the non-MEC (Modified Endowment Contract) definitions of IRC Section 7702A. Loans and partial surrenders from a MEC will generally be taxable. If taken prior to age 59½, they may be subject to a 10% tax penalty. Loans and partial surrenders will reduce cash value and any death benefits payable.
Why Buy Life Insurance?
Discover some of the ways life insurance can help protect you and your family.
NFW-1358AO.9, NFW-3213AO, NFW-3213AO, NFW-3226AO, NFW-1404AO.3