Nationwide
Author: Kaitlyn Short
Nationwide is a reliable insurance company. It consistently receives high financial strength ratings and offers a variety of life insurance policies. If you're interested in a term or permanent life insurance product, Nationwide's policies are worth considering.
Nationwide stands out from other insurers with its advantageous long-term care rider available with some of its universal life insurance policies.
Top Ranked Companies
The Good
- High Financial Strength Ratings
- Variety of Policies and Riders
- Long-Term Care Coverage
High Financial Strength Ratings
Nationwide is a reliable insurer and has received high financial strength ratings. These ratings are important because they anticipate the likelihood an insurer will be able to meet its claims obligations based on its current financial standing.
High financial strength ratings are common among top insurers.
Variety of Policies and Riders
Whether you're looking for a permanent or term life insurance policy, you're likely to find a good coverage option from Nationwide. The insurance provider offers term, whole, universal, indexed universal, and variable universal life insurance.
Customers can talk to insurance agents about purchasing additional insurance coverage with their life insurance. This additional life insurance coverage is called a rider.
Nationwide offers good rider options with its insurance policies. Available riders include an accelerated death benefit rider, a premium waiver for disability rider, and a children's term rider. Some riders may not be available with every type of life insurance policy.
Long-Term Care Coverage
Although other insurers offer long-term care riders with their life insurance policies, Nationwide emphasizes its offering. Its rider is called Nationwide YourLife CareMatters® and is available with a fixed premium universal life policy.
With this rider, you can receive early payouts of the death benefit to help cover long-term care costs. The insurance provider makes monthly payouts, and you do not have to submit care bills for approval and reimbursement. If there's extra money, you can use it at your discretion.
The other advantage of this rider is that your beneficiary will receive at least 20 percent of the death benefit even if you use all of the available funds for long-term care needs. This rider is advantageous because you can have long-term care coverage if you need it without buying a separate insurance product.
Some details about this rider vary by state, so work with Nationwide directly to learn more and decide if this option is worthwhile for you.
The Bad
- Limited Customer Insight
- Must Call for Permanent Life Insurance Quote
Limited Customer Insight
Best Company has not received many reviews for Nationwide life insurance, so conclusions about customer satisfaction are not available. However, Nationwide has key characteristics like a high financial strength rating that make it worth considering.
Must Call for Permanent Life Insurance Quote
Although term life insurance quotes are available online, you must call and work with a representative for a quote on a universal or whole life policy. It's uncommon for a life insurance company to offer online quotes for permanent policies, so Nationwide isn't distinct in this way from other insurers.
The Bottom Line
Nationwide has good life policy options with beneficial riders. It stands out for its long-term care rider that makes the claims process easier.
Nationwide also has high financial strength ratings and lengthy industry experience. Although more customer reviews are necessary for an assessment of the customer experience, Nationwide's policies are worth exploring further.
