While choosing a nationwide life insurance plan, you should consider several factors. These factors include eligibility requirements, cost of coverage, underwriting results, and ratings. We will discuss factors to consider when choosing your policy.
Requirements to qualify for Nationwide Life Insurance
You will also benefit from discounts, such as those available to people who bundle life insurance with auto or home insurance for having multiple policies across the country. Nationwide is also highly rated by credit rating agencies. So it is worth researching their performance. Known nationwide for its strong customer service and financial stability. But for the trouble, and remember you won’t get a policy if you’re afraid of needles.
Some policies have riders. Such as the ability to take a loan against the positive cash surrender value of the policy. But this is only part of the coverage. You can also get coverage for your children or spouse or a disabled person. Each policy has its requirements, so be sure to check with your chosen insurance carrier and apply online.
Cost of Coverage
There are four main types of life insurance sold nationwide, and all require a medical exam. Term life insurance rates are the most common type of policy. It is comparatively cheap. If you are older, you may want to purchase a policy that locks in a higher amount for your coverage. Nationwide’s YourLife Guaranteed Level Term policies have terms from 10 to 30 years, maximum coverage of $1 million, and level premiums.
For those looking for life insurance, Nationwide offers a term policy with three living benefits at no extra cost. This policy lasts for the rest of your life. Their nationwide whole life insurance offers quick death benefits in case of a terminal illness. This option offers a death benefit that increases over time, and a cash value as long as you pay your premium. A nationwide life insurance policy is the cheapest way to protect your loved ones.
Underwriting results
The Affordable Care Act guarantees that individuals with pre-existing conditions can obtain health insurance in the individual market. This law ended underwriting practices that often left many people without coverage or with only limited coverage.
Ratings
NerdWallet gives each company a score based on data from state regulators and the National Association of Insurance Commissioners. Nationwide scores very high for customer satisfaction and offers many advantages over competitors. You can learn about the company’s history and financial strength, and you can easily compare coverage options and rates. You can get an instant term quote and choose a coverage amount from $100,000 to $1 million.
Ratings are not a guarantee of a company’s financial strength or claim-paying ability. The broker/dealer you purchase the policy from does not represent the quality of analysis by rating agencies. Neither an insurance agency nor a broker/dealer. The rating agencies are not affiliated with the above organizations and are independent. A high rating in AM Best can be a good indicator of a reputable company.
