Nationwide Life Insurance Review 2026: Pricing, Pros & Cons

Nationwide offers multiple life insurance products, from simple term coverage to permanent policies with cash value growth and investment options.

Nationwide's life insurance rider selection is broader than most carriers we reviewed. The living benefit riders, including chronic illness, critical illness and terminal illness, let you access part of the death benefit while alive if you're diagnosed with a qualifying condition. The Long-Term Care Rider II is particularly strong if you who want one policy to cover both death protection and potential care costs. The Guaranteed Insurability Benefit Rider is worth attention for younger buyers who expect their coverage needs to grow.

Nationwide's term life rates follow a clear pricing shift. The carrier costs more than the national average at lower coverage amounts but becomes cheaper than the national average starting at $500,000. A 40-year-old woman pays $4 more per month than average at $100,000 but $2 less at $500,000, with savings continuing through $1 million. Male buyers see the same pattern, where a 40-year-old man pays $4 more than average at $100,000 and $4 less at $1 million.

* Rates based on 40-year-old nonsmokers with average health on a 20-year term policy.

Nationwide settles most life insurance claims within 30 days after receiving all required documents. Claims can be filed online or by calling 1-800-848-6331. 

You may be asked to provide the following documents:

• Death certificate
• Completed claim form
• Policy number or copy of the policy

Once all required documents are received, Nationwide completes most claims within about 30 days.

Life insurance beneficiaries choose how they receive their payout. Direct deposit offers faster access to funds, while mailed checks remain an option for those who prefer a paper payment.

Nationwide's rates are competitive at $500,000 and above but run above average at lower coverage amounts. MoneyGeek's rate analysis found Banner Life and Transamerica average $37 per month for a 40-year-old woman on a $500,000, 20-year term, $8 less than Nationwide's $45 monthly rate. If you want the lowest possible rate at any coverage level, you have cheaper options.

Nationwide offers up to $1.5 million in term life coverage without requiring a medical exam, and eligible applicants can receive an instant decision online. But its coverage limits are lower than many competitors, and term policies are only available to applicants up to age 55. Buyers who need coverage later in life can find better options with insurers like Pacific Life, which offers broader age eligibility and competitive rates. Nationwide's biggest advantages are its wide selection of riders and the ability to convert term coverage to a permanent policy without undergoing a new medical exam.

Nationwide is a strong fit if you want advisor-guided planning, the ability to convert term coverage to permanent protection later and living benefit riders that pay out during a serious illness. Its A+ AM Best rating and NAIC complaint index of 0.08 reflect long-term financial reliability and strong customer service.

It's not the right choice for buyers who want to handle everything online. Only no-exam term life is available through Nationwide's digital platform. All permanent policies require working with a licensed agent. Buyers over 55 can't get term coverage from Nationwide at all and should look at Pacific Life or Banner Life instead.

Buy Nationwide if: You want $500,000 or more in term coverage, value conversion flexibility or living benefit riders, and are comfortable working with an agent for permanent policies.

Look elsewhere if: You want the lowest possible rate at $250,000 or less, need term coverage past age 55, or want a fully digital application for a permanent policy.