American Life Insurance Guide > Life Insurance Brand > Nationwide National Life Insurance
Insurance Agency Rating Form/2020.05 Update
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About Nationwide
Nationwide, called the National Insurance Company in Chinese, is a comprehensive financial insurance giant with many different departments and subsidiaries.The life insurance business is a branch of Nationwide's extensive business. In this article, we will refer toNational Life Insurance.
Nationwide's national life insurance brand is well-known in the United States, and was first known as an excellent supplier of auto insurance and home insurance.But there is relatively little knowledge about their life insurance products and whether the products themselves are good enough.therefore,American Life InsuranceGuide.com's evaluation of Nationwide National Life Insurance Company will help screen and judge, and see if Nationwide is a worthy cooperation or insurance partner.The following is the specific content:
History of Nationwide National Life Insurance Company
In the 1920s, farmers at that time had to pay for car insurance at the same rate as people living in cities, and the risks and claims of farmers driving vehicles were smaller and smaller than those of driving vehicles in cities. Much less.
To this end, the Ohio Farm Bureau decided to set up an insurance company to provide car insurance for Ohio farmers.
On April 1926, 4, the predecessor of Nationwide, the Agricultural Bureau Mutual Aid Auto Insurance Company, was formally established.
Subsequently, Nationwide continued to introduce the old and bring forth the new, marching into new fields and new product lines.In 1955, it abandoned its original name: Farm Bureau Mutual, changed its name to Nationwide (National Insurance), and eventually developed into an insurance giant.
Nationwide financial strength and company ratings
When evaluating life insurance companies, our life insurance will consider financial strength and financial stability. These two points are also the key to gaining the trust of new consumers and maintaining the trust of long-term customers.
according to2019 company financial reportThe data points out,Nation-wide The total assets of the insurance company are$2536 billion, The scale of assets used for investment is$1162 billion.
Leveraging on its strong financial strength, Nationwide Insurance Company received a rating of "A+", Moody's gave is "A1", and the rating given by S&P is also "A+", joined the ranks of top life insurance companies. What does the insurance company rating mean?Click to view )
Nationwide currently has 34,000 employees and is ranked among the Fortune 2019 companies in 500.Rank #73, Was also selected as "the 100 most worthwhile companies in the United States."
Nationwide Life Products List
Nationwide's life insurance business provides 5 main types of life insurance:
- Term life insurance
- Universal Life Insurance
- Index Universal Life Insurance
- Investment-oriented universal life insurance
- Participating Whole Life Insurance
Term life insurance
In the life insurance department of National Life, the term life insurance product line has maintained a diversified product line.For all short-term protection needs, National Life provides term life insurance products for customers of all ages.
Nationwide Your Life® Guaranteed Level Term This product is an entry-level term life insurance, you can choose 10 years, 15 years, 20 years or 30 years of coverage.
This is the most basic type of life insurance, which guarantees a minimum death benefit and a constant premium.Currently, the available additional insurance clauses include an upgraded death benefit rider, a child's term life insurance rider, premium waivers, and coverage for spouses.
Whole life insurance products
For those customers who need life insurance needs or use life insurance to achieve other goals, Nationwide National Life Insurance providesUniversal insurance, Index universal insuranceAndParticipating Whole Life InsuranceProducts to choose from.
Universal insurance products are the simplest way to exchange flexible premiums for lifetime protection. National Life Insurance provides a variety of specific product options according to consumers’ needs:
- Nationwide Your Life® Indexed UL Accumulator II (Product reviews and brochure downloads）
- Nationwide Your Life® Indexed UL Protector II ( Product reviews and brochure downloads )
- Nationwide Your Life® Indexed UL
- Nationwide Your Life® SUL II
- Nationwide Your Life® Current Assumption UL
- Nationwide Your Life® No-Lapse Guarantee UL II ( Product reviews and brochure downloads )
Among them, the three index-type universal insurance products of 1, 2, and 3, the cash value part is bound to an index such as S&P500, Nasdaq, and the index rises, and the corresponding income is obtained, and the minimum return of 0% is guaranteed. rate.and"SUL" This product is an insurance contract that protects two people, which means that two people protect each other.
Nationwide Your Life® Indexed UL Accumulator II
In the evaluation of LifeTank, the index strategy provided by Nationwide is extremely competitive in the market and also provides more potential options for accumulating cash value.You can also view by clickingProduct EvaluationLearn more on the page.
Nationwide Your Life® No-Lapse Guarantee UL II (Product Evaluation）
For policyholders seeking guaranteed death claims, the advantage of this product is that in addition to guaranteed claims, you can also choose to refund the premium, and you can choose to matchLong-term careAdditional claims clauses.If you are looking for guaranteed lifetime claims while also looking for cash value and flexibility, you can considerIndexed UL Protector II(Product Evaluation）.
Investment universal insuranceProducts are purchased directly through registered practicing sales representatives, and part of the premiums directly enters the stock market for investment to increase cash value, and the payment of premiums is also flexible. The investment universal life insurance products provided by Nationwide include:
- Nationwide Your Life® Protection VUL
- Nationwide Your Life® Accumulation VUL
- Nationwide Your Life® Survivorship VUL
(Update 2020/05)Nationwide Life Insurance offers twoSavings Participating Whole Life Insurance(Whole Life) products: Nationwide Your Life® 20-Pay WL 和 Nationwide Your Life® 100-Pay WL.Just like the product name, the former is paid in 20 years while the latter requires lifetime premiums.These two products can be insured between the ages of 0 and 80.
It is worth mentioning that although it is a standard Whole Life product, Nationwide is also a mutual insurance company structure, but these two savings and dividend products do not participate in the company’s mutual equity structure, even if the holder of the policy is not a mutual company. Participating holders.
(Update 2021/01)ADB will be added to Nationwide life insurance policies applied after January 2021, 1slowAdditional terms for sexual diseases, And ADBAdditional terms for critical illness claimsThe function selection.
Mixed long-term care life insurance
In 2019, Nationwide launched a hybrid long-term care life insurance product called CareMatters® II (not yet approved in California and New York as of January 2021.01).The target market is the 40 to 65-year-old population.The product is characterized by emphasizing the cash payment (non-reimbursement) of long-term care, while retaining the death compensation part of life insurance.
List of other businesses
In 2010, Nationwide was the sixth largest auto insurance service provider and the seventh largest home insurance service provider in the United States.
In 2019, Nationwide Insurance Company is the nation's largest pet insurance provider.
In 2020, Nationwide Insurance Company is the top 5 index-based insurance market provider in the United States.
Therefore, in addition to life insurance products, Nationwide also provides the following insurance services:
- car
- motorcycle
- 住宅
- Business
- Identity theft
- Travel
- farm
- Dentist
- wedding
Nationwide defines itself as a company that can provide customers with all the insurance products they need.
InsurGuru©️'s final evaluation of Nationwide
In terms of insurance, Nationwide's product line can meet almost all needs.The cost of various products meets industry standards, and the company's brand and financial strength are also among the best.
Nationwide's guaranteed claims products are competitive in the market, and its index-based life insurance's index account strategy and growth potential options are impressive, and it was ranked in the top 2020 in the 5 market share ranking.
In other respects, Nationwide carried out product upgrades at the end of 2020 and also upgraded the mainstream product line"Welfare”Function provides policyholders with a more comprehensive choice of protection.Long-term care insuranceIn general, Nationwide has always been a giant in the industry.
If there's a fault, it's what a lifetime warranty product has to offer"Lifetime benefits" such as critical illnessThe compensation amount of the claim items is relatively low; at the same time, the price and premium of term life insurance products are not necessarily competitive in the comparison of similar products.
But in general, Nationwide is financially strong, has a nationally recognized brand reputation, and offers life insurance product choices at different levels and functional needs, and policyholders have a variety of options.Whether for asset management, supplemental retirement planning, or wealth inheritance and estate planning, policyholders can find the right line of insurance products at Nationwide.
Official website: nationwidefinancial.com
NATIONWIDE FINANCIAL SERVICES INCORPORATED is an American company with multiple financial services experience. Its subsidiaries and brands provide services such as asset management, savings, and life insurance.
American Life Insurance Guide > Life Insurance Brand > Nationwide National Life Insurance
