Nationwide Insurance Company Review

Nationwide has been around for over 85 years. What started as a small auto insurance company is now one of the largest insurance providers in the world. Farm Bureaus sponsored the company from its inception, but nine continue to do so today. A western expansion in 1945 brought coverage to 20 states in addition to the original 12 where coverage was already available — this gave way to the company’s current moniker, Nationwide.

Nationwide offers more than just life insurance, selling home, car, boat, motorcycle, pet, farm and commercial insurance in addition to financial services like mortgages, pensions, long-term savings plans, mutual funds and annuities.

The company prides itself on putting customers first, claiming superior customer service as their greatest asset. Its Office of Customer Advocacy ensures that customers get the highest quality products for the most affordable price.

Stats

A.M. Best RatingA+
B.B.B. RatingA+
PolicyZip Rating
Founded1926
HeadquartersColumbus, OH
Number of Employees33,000
Total Assets$158 Billion

4 Types of Life Insurance from Nationwide Financial

Nationwide carries four types of life insurance:

Nationwide Term life insurance

Term life protects your beneficiaries for a specified period of time, usually 10, 15, 30 or 30 year terms. Your premium will not change throughout the life of the plan and benefits are the payout is income tax free. You will be given the option to renew after each term, but the price may increase.

Nationwide Whole life insurance

Nationwide’s whole life protects your beneficiaries for a lifetime. It is the most popular type of permanent life insurance available. Your premium does not change throughout the life of the policy and you have the freedom to choose your payment schedule, picking from annual, semi-annual, quarterly or monthly payments. With some policies, the payout amount may grow over time.

Universal life Insurance

UL is another form of permanent life insurance. This type of plan also provides access to tax-deferred money. Nationwide offers fixed premium and flexible premium universal life insurance policies. Fixed premiums lock in benefits for the life of the policy, while flexible policies allow you to change the level of protection and control your payment schedule. This type of plan is often used to gift money to loved ones or assist business owners with continuation planning.

Variable life insurance

VUL plans combine life insurance and investments into one product. It is a hybrid designed to give you the security of life insurance and the flexibility of investments managed by a professional to be used in the future for things such as retirement, business, education or elderly care.

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