Nationwide Life Insurance Review

Life Insurance Grades prepared this Nationwide Life Insurance Review to help you with your worries! Despite the fact that its prices might be higher than those of comparable organizations, the Nationwide web interface and claims procedure are superb. In terms of weight, health, and smoking habits, it is more lenient than many of its rivals. Its rules are tailored to meet the demands of current and prospective consumers. Only around 20% of candidates will be exempt from the medical test, and any traffic violations on your record will be taken into account more seriously by Nationwide Life Insurance than by its competitors.

Nationwide life insurance rates

Nationwide Life Insurance Review - Nationwide Life Insurance Logo

Nationwide, like the majority of insurance companies, does not publish its rates on the internet. Insurers’ Preferred rates, on the other hand, are only available to those who fulfill the following conditions.

  • Tobacco use. Only 12 months after stopping smoking, the insurance treats you as a non-smoker. It also offers discounted pricing for up to 12 celebration cigars a year.
  • Age. Applicants who are young, healthy, and in good health are entitled to lower-cost insurance premiums.
  • Record of a driver’s license. Even if you’ve only received one ticket in the last two years, your rate class might be reduced.
  • Occupation. Firefighters and heavy machinery workers, for example, may have to pay higher premiums because of the danger they face on the job.
  • Health. Nationwide is forgiving when it comes to building charts, cholesterol, and family history, because it caters to the typical American (with the exception of early cardiac death). For those who’ve had major health issues in the last ten years, they may assess their case before making a decision on whether or not to give coverage. In addition, elevated blood pressure may contribute to an increase in mortality rates.

What types of life insurance coverage does Nationwide offer?

Nationwide provides a wide range of life insurance options, including the following:

  • Term life insurance. With periods ranging from 10 to 30 years, this insurance provides short-term coverage with predictable rates. Though its online pricing tool only lets you choose between $100,000 and $1 million in coverage, customers may purchase coverage ranging from $25,000 to more than $10 million.
  • Insurance for the rest of your life. This long-term policy accrues cash value over time and, after you’ve collected enough, lets you borrow against it. When you die, you’ll get a predetermined death benefit.
  • Life insurance that’s available to everyone. Among the insurer’s universal life plans are an indexed policy linked to S&P 500 performance and a survivorship policy that covers two individuals, usually couples. The indexed policy is linked to the S&P 500 performance. Flexible premiums, as well as death benefits, are available with these plans, as are the best potential returns.
  • Life insurance with a variable premium. For a little fee, you may get this insurance that covers you for the rest of your life while also investing a portion of your monthly payments into the stock market. Because the investment is professionally managed, your risks are reduced (but not eliminated).

What riders can I add to my policy?

The following riders may let you tailor your insurance to your specific needs:

  • Accelerated death benefits riders. Upon receiving a terminal disease diagnosis, you will get a cash advance on your death benefit.
  • Rider for accidental death insurance. A lump payment is added to your death benefit if you’re killed in a car accident.
  • Riders who are under the age of 18. You can use this to cover your biological, step, and legally adopted children under the terms of your life insurance policy(s).
  • Rider that ensures you’ll be insured no matter what happens. Purchasing supplemental insurance at certain dates without having to undergo a medical examination is possible.
  • Long-term care insurance policy. allows you to pay for medical and long-term care costs with money from your insurance coverage.
  • The premium rider is coming back. If you outlive your term life insurance coverage, you’ll get your premiums back.
  • The rider’s spouse. Some term and permanent insurance policies come with this option, which protects your spouse and may be turned into a separate, whole life insurance policy.
  • Rider waiving the right to a higher price. If you become ill or handicapped, your premiums will be put on hold.

Nationwide life insurance reviews and complaints

The Better Business Bureau (BBB) has recognized Nationwide and given them an A+ grade for its openness and customer service. In the previous three years, the Better Business Bureau has received 241 complaints about the insurer’s other products.

Customers give Nationwide Life Insurance a dreary 1 out of 5 stars, despite the fact that their committed life insurance salespeople are praised for their efficiency.

Nationwide placed third out of 22 insurers in the J.D. Power 2020 U.S. Life Insurance Study.

Visit our review of Nassau Re Life Insurance Review for one more life insurance review

Default image
Levi Jorgensen
Levi Jorgensen is a life-long explorer. When he's not writing about life insurance, he works as an appraiser of antiques. He's based in Columbus, Ohio with his wife and 2 children.
Articles: 89