Nationwide Re-Prices GULs

Nationwide Re-Prices GULs

In response to new NAIC reserve guidelines and the economic environment, Nationwide is updating its life insurance products. As a top tier Nationwide BGA (Brokerage General Agent) we will work hard to help  you navigate these changes.

PRICING CHANGES
Nationwide YourLife No-Lapse Guarantee UL

  • Prices will increase in some cases, but many cases will have lower prices
    • Most price increases will be in single-pay premiums
    • Most price reductions will be in level-pay premiums
  • Changes will vary for diff erent age, risk class and face amount combinations
  • A comparison of our new pricing to other carriers will be available in late November 2012
  • Any policy issued on or after 1/1/13 will have the new rates

Nationwide YourLife No-Lapse Guarantee SUL II

  • New pricing, which we’re working to keep as close as possible to the 2012 pricing, is being finalized and will be announced in late November 2012
  • Any policy issued on or after 1/1/13 will have the new rates

Important transition dates

  • To get the current 2012 pricing, policies must be issued on or before 12/31/12
    • Applications for these products must be signed no later than 12/31/12
    • Applications must be received by Nationwide in good order by end of day 1/11/13
    • Policies signed in 2012 will have coverage eff ective as of 12/31/12 or earlier, no matter when funding is received by Nationwide; this also applies to the current Nationwide YourLife No-Lapse Guarantee UL pricing promotion
    • Policies must be funded and in force by 3/1/13; only exceptions are 1035 and NY Regulation 60
  • For NY Reg 60 and 1035 cases, the applicable paperwork must be signed by 12/31/12, and received in good order at Nationwide by 1/11/13