Nationwide introduces two new variable universal life insurance products

By a News Reporter-Staff News Editor at Insurance Weekly News -- Nationwide announced they are offering two new variable universal life (VUL) products, the Nationwide VUL Accumulator and the Nationwide VUL Protector, designed to help advisors address their clients' various needs.

The Nationwide VUL Accumulator is for clients between the ages of 30 and 55 who are seeking death benefit protection as well as growth potential to supplement their retirement income.

The Nationwide VUL Protector is for clients between the ages of 30 and 60 who are seeking a death benefit guarantee and cash value growth potential. It includes Nationwide's Extended No-lapse Guarantee Rider (ENLG) with a guarantee to age 90 or to age 120.

"Variable universal life insurance provides advisors with an option that can help their clients meet a variety of needs," said Eric Henderson, senior vice president of Nationwide's annuity and life insurance businesses. "Whether it's taking care of loved ones, providing supplemental retirement income, covering long-term care costs or aiding in estate or legacy planning, products like these can be a valuable solution based on clients' specific circumstances."

Both the Nationwide VUL Accumulator and the Nationwide VUL Protector offer Nationwide's new lineup of 70 high-quality investment options with a weighted average fund expense of just 0.67%. Forty-six percent of the investment lineup have a 4-star or 5-star Morningstar® rating1 and 41% of the lineup are asset allocation options. They also include two indexed interest strategies: the S&P 500® Annual Point-to-Point and Multi-Index Monthly Average.

Both products come with the Nationwide VUL Rewards ProgramSM, a guaranteed benefit applied when the client satisfies a net accumulated premium test on designated testing dates, as well as 20-year initial guarantee, which applies to the Additional Term Rider when it is added to the policy.

The Extended No-Lapse Guarantee is an optional rider available with the Nationwide VUL Protector. It automatically includes Nationwide's Automated Premium Monitor to notify advisors and their clients if the guarantee is at risk of going off track.

Both products will also offer the Nationwide Long Term Care Rider II, which provides coverage for informal care (such as care from family members or friends), more payout benefit options (2%, 3% and 4%) and discounted rate for couples.2

Keywords for this news article include: Nationwide, Insurance Companies, Risk and Prevention.

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