Michael Horbal is the founder of RiskQuoter.com, an independent life insurance agency specializing in high-risk applicants. His goal is to help consumers find the best life insurance rates possible by matching them with the right insurer.
Looking for dependable life insurance with flexible coverage options and fast underwriting? Nationwide might be worth a closer look.
In this guide, we review Nationwide’s life insurance products and life insurance underwriting to help you make an excellent choice for yourself.
Company Overview
Founded in 1926, Nationwide began as an auto insurer and has since evolved into a Fortune 100 financial services company. Today, they serve millions of customers across life insurance, retirement plans, annuities, and investment products.
Life insurance policies are primarily issued by Nationwide Life and Annuity Insurance Company, except in New York, where they come from Nationwide Life Insurance Company.
Nationwide markets itself with the slogan “On Your Side,” and in many areas, its policy features and underwriting programs live up to the promise.
Financial Strength
Nationwide is one of the most financially secure companies in the life insurance space.
- AM Best: A+ (Superior)
- Moody’s: A1 (Good)
- Standard & Poor’s: A+ (Strong)
These ratings reflect the company’s strong claims-paying ability and long-term financial stability. Companies with similar AM Best ratings include Prudential and Pacific Life.
Product Review
Nationwide offers a broad range of life insurance options, including term, whole life, universal life, and indexed universal life insurance. Here’s how each product stacks up:
Term Life Insurance: Nationwide Guaranteed Level Term
- Level premiums for 10, 15, 20, or 30 years
- Conversion available up to age 65
- Includes Living Access Benefits (chronic, critical, and terminal illness)
- Optional riders: Waiver of premium, children’s term, accelerated death benefit
- Online or phone application with simplified underwriting
Best for: Budget-conscious buyers who want affordable coverage with built-in flexibility.
If you’re looking for term lengths longer than 30 years, check out Banner Life, Protective Life & Corebridge Financial as they offer 35-40-year terms.
Whole Life Insurance
Nationwide offers two versions:
- 20-Pay or Pay-to-Age-100 Whole Life
- Guaranteed cash value, level premiums, and lifetime death benefit
- Built-in Living Access Benefits
- Children’s term rider available
- Heritage Single Premium Whole Life
- One-time payment creates an immediate, tax-free death benefit
- Refund of premium if canceled
- Cash value accumulation over time.
Best for: Final expense planning, legacy gifts, or efficient wealth transfer.
When considering whole life insurance, we recommend comparing it to the policies offered by Mass Mutual, Guardian, New York Life, Penn Mutual, and Northwestern Mutual.
Guaranteed Universal Life: No-Lapse Guarantee UL II
- Lifetime or age-70 no-lapse guarantee options
- Switch from age 70 to age 120 coverage (no new underwriting required)
- Living Access Benefits are automatically included
- Optional riders:
- Return of premium (years 16 & 21)
- Long-term care rider (cash indemnity)
- Waiver of monthly deductions
- Accidental death
Best for: Buyers who want low-cost permanent coverage with lifetime guarantees.
Nationwide’s prices are very competitive with this policy, and we recommend comparing them to those of Protective Life, Pacific Life, and Cincinnati Life.
Indexed Universal Life: IUL Protector II
- Tax-advantaged cash value growth tied to the S&P 500, Nasdaq-100, and Dow Jones
- Guaranteed 0% floor (no market loss risk)
- Optional long-term care rider (cash indemnity)
- An extended no-lapse guarantee is available
- IUL Rewards Program reduces the cost of insurance after year 20 if funding targets are met
Best suited for: Long-term planners seeking growth potential with downside protection. Other companies offering index IUL include Lincoln Financial, John Hancock, Prudential, and North American.
Underwriting Review
Nationwide uses a flexible, tech-driven approach to underwriting. Their process is built to offer fast approvals without sacrificing quality.
Key Features:
- Online or phone health interview options
- Fluidless (no exam) underwriting available for qualified applicants
- QuickCheck paramed exams if needed (labs, vitals, urine sample)
- Offers made using a combination of real-time data, Rx history, and MIB
Special Programs:
- Wellness Credits: Improve your rate class if labs, BP, or BMI are better than average
- Table C to Standard Upgrade: On permanent products for eligible clients
- Term + Perm Program: Recently issued term policies (even from another company) can qualify for simplified permanent coverage
Turnaround time for fluidless cases averages 7 days.
Customer Service
Nationwide offers multiple customer support options:
- Phone: 1-800-848-6331
- Online Account Access: Policyholders can log in – HERE
- Mailing Address: One Nationwide Plaza, Columbus, OH 43215
FAQ
Yes, if you meet the criteria for accelerated underwriting. Term and whole life policies, especially, may qualify.
Yes. Most policies include chronic, critical, and terminal illness riders automatically.
It’s a cash indemnity rider—you receive a fixed monthly benefit and don’t need to submit receipts.
Final Thoughts
Nationwide is a financially solid life insurance company with flexible product designs and one of the smoother underwriting experiences in the industry.
Their built-in living benefits, wellness credit upgrades, and low-cost permanent options make them a worthwhile consideration, especially if you’re seeking a balance of affordability, customization, and brand strength.
While their term rates are often middle-of-the-road, the total value you get from underwriting speed to living benefits can make them a competitive option for many shoppers.