What's more important than the lives of those who depend on you? If something were to happen to you, you would want everything to be in order for them. A Nationwide YourLife whole life policy can help meet your family's needs in the event of your death.
As your personal situations change (e.g., marriage, birth of a child or job promotion), so will your life insurance needs. Care should be taken to ensure this product is suitable for your long-term life insurance needs. You should weigh any associated costs before making a purchase.
Life insurance has fees and charges associated with it that include costs of insurance that vary with such characteristics of the insured as gender, health and age, and has additional charges for riders that customize a policy to fit your individual needs.
What is Nationwide YourLife WL?
Nationwide YourLife WL is a whole life insurance product. It offers traditional permanent life insurance - that is, it provides lifetime coverage, as long as you pay your premium when it's due.
There are two payment options for this product:
WL 100 − Premiums are the same until they stop when you turn 100
20-pay WL − Premiums are the same until the policy is paid after 20 years
Benefits of Nationwide YourLife WL
Here are some of the benefits of this whole life product:
Predictable, fixed premiums
The ability to customize policy with riders for an additional charge
A guaranteed cash value and death benefits
Access to your money through loans (for an additional charge, certain restrictions apply)
Income tax-free death proceeds
Unlike term life insurance, which does not accumulate any cash value, some of the money you pay into your whole life policy is guaranteed to grow. The death benefit may make whole life insurance a good choice for protecting your assets (like your house or business) from loss, or to take care of your final expenses.
And, Nationwide YourLife WL lets you take care of your family in ways you may never have thought of. For example, you can help your child (or grandchild) get a head start with a YourLife WL policy. You can lock in a low rate while the child is young. Later, they may be able to use the cash value for tuition, a down payment on a house or other needs.