The information regarding access to cash value assumes that the contract qualifies as life insurance under Internal Revenue Code (IRC) Section 7702. Most distributions are taxed on a first-in/first-out basis as long as the contract remains in force and meets the non-MEC (modified endowment contract) definitions of IRC Section 7702A. But if it is a MEC, then any distributions you take from your policy will generally be taxable and subject to a 10% penalty tax if you're 59½ or younger. If you choose to take loans or partial surrenders, the cash value and the death benefit payable to your beneficiaries will be reduced. Surrender charges may apply for early surrenders and partial surrenders. Surrenders may be subject to income tax.
Keep in mind that investing involves market risk, and your investment return, principal value and periodic payments will fluctuate over time. You could end up with more or less than the amount you invested.
Variable products are sold by prospectus. Carefully consider the investment objectives, risks, charges and expenses. The product and underlying fund prospectuses contain this and other important information. Investors should read them carefully before investing. To obtain a product prospectus, call 1-800-321-6064, contact an insurance professional or click on the prospectus link on Nationwide.com.
Investment options offered within the Variable Universal Life insurance products are subject to change, and there is no guarantee that the investment objectives will be achieved.
Optional riders that customize a policy to fit individual needs usually carry an additional charge and are only available through the purchase of a variable universal life insurance product. Riders may be known by different names in different states and may not be available in every state.
Guarantees are subject to the claims-paying ability of the issuing insurer. They do not apply to the investment performance or safety of the underlying investment options. Underlying subaccounts are only available as investment options in variable insurance contracts issued by life insurance companies. They are NOT offered directly to the general public.