Life Insurance That Includes Investments
Variable universal life insurance is a life insurance product with investment features. It's designed to help you protect your family’s future with life insurance – and give you access to professionally managed investments that can help you accumulate money for your future needs.
You can use the policy for many of your planned financial needs, such as supplemental retirement planning solutions, business planning solutions, long-term care and education funding.
Find out more in our 5-Minute Guide to Variable Universal Life Insurance (PDF).
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Advantages and disadvantages of variable life insurance
With a variable universal life policy, you can take advantage of potential market growth because your policy value is invested in underlying sub-accounts which are subject to market fluctuations. Your policy also has the flexibility to adjust to your changing needs.
However, a variable universal life policy puts greater responsibility on you .You assume the investment risk, and you select and monitor your own underlying investment options, instead of the insurance company doing it for you.
Keep in mind that as your life changes (for example, marriage, birth of a child or a job promotion), so will your life insurance needs. Make sure that these strategies and products are suitable for your long-term life insurance needs. Also, make sure you are able to continue premium payments so your policy doesn’t lapse if the market goes down. If you take a loan, withdrawal or partial or whole surrender, your death benefit may be reduced, your policy may lapse or you may face tax consequences.
There are fees and charges for variable life insurance, including a cost of insurance based on characteristics of the insured person such as gender, health and age. There may also be underlying fund charges and expenses, and additional charges for riders that customize a policy to fit your individual needs.
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Please read this important information
Keep in mind that investing involves market risk, including the possible loss of principal. Also, know that underlying investment options are only available in variable annuity and variable life insurance contracts. They are not offered directly to the public.
Protections and guarantees are subject to the claims-paying ability of the issuing life insurance company.
Keep in mind that taking money from your policy immediately reduces both the cash value and the death benefit payable, and can cause the need for more premiums to be paid into the policy in the future. You should always take care to ensure that your life insurance needs continue to be met over time subsequent to taking cash from your policy.
Variable products are sold by prospectus. You can obtain the product prospectus and underlying fund prospectuses by writing to Nationwide Life Insurance Company, P.O. Box 182021, Columbus, OH 43218-2021. Before you invest, you should read the prospectus carefully and consider investment objectives, risks, charges and expenses. The product prospectus and underlying fund prospectus contain this and other important information. Investing involves risk.
Guarantees and protections are subject to Nationwide's claims-paying ability. They do not apply to the investment performance or safety of the underlying investment options. Life insurance is issued by Nationwide Life Insurance Company, or Nationwide Life and Annuity Insurance Company, Columbus, Ohio.
Investment products are not FDIC-insured, may lose value and have no bank guarantee.
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