If you’re in search of a Nationwide Life Insurance Company reviews, you’ve found what you’re looking for. Nationwide Life provides a variety of life insurance policies for a large number of people throughout the country. They have an A+ (excellent) life insurance companies rating from A.M. Best, but are they the best choice for your coverage needs?
While Nationwide Insurance is an outstanding organization, it’s not the only life insurance company out there. Which life insurance company is best for your needs will depend on a variety of factors. Let’s get to it!
Nationwide Life Insurance Company
The Nationwide Life Insurance Company offers shoppers a variety of life insurance products, but might not be the best choice based on your health, age or type of coverage you're seeking.
Nationwide Life Insurance Review
Is the Nationwide Life Insurance Company the best company for you? Will they provide you the best rate based on your health, lifestyle and other qualifying criteria?
Let’s find out, but first…
About Nationwide Life Insurance
For almost nine decades, Nationwide Insurance has provided services to its clients and has grown from a small Ohio-based company into a national company. To get a better understanding of their services and if they are suitable for your requirements, it is vital to be mindful of the company’s origins, what they offer policyholders, and how they handle life insurance.
On December 17th, 1925, Nationwide company started out as the Ohio Farm Bureau Federation. It later incorporated with the Farm Bureau Mutual Automobile Insurance Company. In less than 5 months, the initial agents recruited more than a thousand policyholders and began servicing the public.
Ohio farmers were their first customers, and the product they began with was auto insurance. Three years after its launch, the company started to expand into other states. By the time the 1930s came around, the company had started to underwrite for non-farmers who resided in both populated cities and small towns.
At this point, the organization expanded even further by providing policies for fire insurance.
By 1955, the organization had its name changed from Farm Bureau Insurance to Nationwide Insurance. They had expanded into many more states along the West Coast.
In 2017, Nationwide Insurance offices can be found in all 50 states and offer various kinds of policies for their customers.
Nationwide Life Insurance Products
Nationwide provides shoppers a variety of life insurance types and products. Here are some of the life insurance products that Nationwide offers consumers:
Nationwide YourLife Guaranteed Level Term
Think about getting term life insurance for divorce life insurance, mortgage protection, or SBA loans. There are a few kinds of term life policies to choose from:
- Mortgage Term
- Guaranteed Term
- Decreasing Term
You can buy them in 10, 15, 20, and 30-year terms and obtain coverage that ranges from $100,000 to $5 million.
Adults up to the age of 70 years old can buy these policies, and there is no yearly fee, either.
Further, life insurance riders are available for the policies that include accelerated or living death benefits, spouse protection, child protection, and the waiver of the policy’s premium.
Term life insurance riders available:
Life insurance riders are a way to customize your insurance plan. Nationwide offers:
Nationwide YourLife WL 100
Think about universal or whole life insurance for business succession or estate planning, such as financing a buy-sell agreement.
Adults can buy whole life policies up to the age of 80 years old with a $10,000 minimum death benefit. Whole life policies generally increase in value over time and can be cashed out upon reaching the maximum benefit level. There are several riders also included, such as:
- Child Protection
- Accidental Death Benefit
- Guaranteed Insurance
- Disability Rider
- No Lapse Guarantee
- Accelerated or Living Death Benefit
- Spouse Protection
Nationwide YourLife No-Lapse Guarantee UL
With Nationwide YourLife No-Lapse Guarantee UL, adults up to the age of 85 years old can obtain guaranteed universal life insurance, which comes with a $100,000 minimal death benefit. Additionally, there is a 3% interest rate over the policy’s course, and the riders are the same as whole life, but with some extras:
- Long-Term Care
- Guaranteed Minimum Cash Value
- Waiver of Premium
- Over Loan Protection
Also available is variable universal life, which resembles the regular version, but does come with 6.5% in variable premium fees.
Nationwide Life Insurance Pros
Nationwide Insurance provides powerful life insurance policies that offer excellent protection, fair premiums, and several different riders to accommodate your personal needs.
Strong Ratings: Nationwide has established a solid reputation and is very reliable with regards to their insurance service, including their life policies. Shoppers are concerned that the company they apply with may someday enter bankruptcy. Nationwide’s A+ A.M. best rating scale should make you feel secure.
Great Rates: Nationwide provides economical rates for many of their riders, policies, and benefits, making them a sound investment for life insurance. Also, their term life provides substantially low rates, too.
Longevity: One factor of life insurance that most people take for granted is how long a company has held a policy.
Nationwide has nine decades under its belt and doesn’t show any signs of going away anytime soon.
As such, you can take comfort in knowing that the organization will be there for you for as long as your policy remains in effect.
Nationwide Life Insurance Cons
Nationwide Insurance is a terrific life insurance company.
They should be kept in mind when browsing companies to purchase life insurance from.
With that said, Nationwide Life has its flaws.
Just understand that there are alternatives that offer cheaper rates for their policies on specific term lengths and face amounts.
Additionally, Nationwide Life may not be ideal if you have specific pre-existing conditions, like life insurance for diabetics.
As such, it might be practical to go over all your choices before seeking out coverage.
Will Nationwide give you the best rate?
Will Nationwide get you the best deal or some other company like GEICO, AIG, AAA or Transamerica? If you want to make sure you’re getting the best life insurance policy available, here’s what you need to do…
Use our online instant calculator to compare rates from dozens of the top companies.
Steps to get an accurate quote
Nationwide Case Study
I recently had a case with a young man looking to secure coverage for his family. He recently had a child and wanted to secure a $1 million dollar term life insurance policy at a 30 year term.
He had a complex health history that required me to contact each life insurance company’s underwriters directly. I provided every life insurance company his details of his case (anonymously) and received back their tentative offers.
Many of the life insurance companies declined to offer and the remaining companies replied back with Substandard health class ratings.
Nationwide replied back with a rating of “Standard”!
We applied and my client was ultimately approved at Standard to which he was ecstatic because it saved him thousands of dollars over the duration of the 30 year term policy.
Nationwide Life Insurance Company Reviews
Is Nationwide the best term life insurance company for you? When compared to the other top rated life insurance companies like Equitable Life Ins, Nationwide may or may not be the best fit for you. When it comes to life insurance policies, not every life insurance company looks at you the same.
Your unique lifestyle and health will be a major factor in finding the right company at the best rate. We can help you determine the right one during a complimentary consultation.
Always work with a licensed life insurance broker. Here’s why: our clients get personal service and access to over 60 of the best life insurance companies in the market. Since we can shop your case to multiple companies, you’re going to get the best rate that you can qualify for based on your health and other qualifying criteria.
We don’t push specific companies or try to rush you into applying. We’ll provide you education, answer your questions and recommend the top life insurance companies available to you.
We hope that our post, Nationwide Life Insurance Reviews was helpful. Please leave a comment or question below.
Nationwide Company Details
Name(s): Nationwide Life Insurance Company; Nationwide Financial Services; Nationwide Mutual Insurance Company; Nationwide Life and Annuity Company
One Nationwide Plaza
Columbus, OH 43215-2220
Phone: (800) 882-2822
Ratings: A.M. Best (A+), Standard & Poor’s (A+), Comdex (91), Moody’s (A1)