Nationwide offers multiple life insurance products, from simple term coverage to permanent policies with cash value growth and investment options.
Nationwide Life Insurance Review 2026: Pricing, Pros & Cons
Nationwide is one of the largest life insurance providers in the U.S., offering term, whole, universal and indexed universal life policies backed by strong financial ratings. Our review examines Nationwide's coverage options, pricing, riders, customer experience and overall value to help you decide if it's the right insurer for your needs.
Get a personalized life insurance quote in minutes.
Select age group
Updated: September 14, 2026
Advertising & Editorial Disclosure
At a Glance: Nationwide Life Insurance Review
Nationwide
MoneyGeek Rating
4.3/ 5
4.3/5Affordability
4.8/5Customer Experience
3.8/5Coverage
Average Monthly Cost
$45 (women), $56 (men)Based on a 20-year term policy with $500,000 coverage for a 40-year-old nonsmoker.Ages Supported
21-55
Nationwide Life Insurance Policies
Term Life Insurance
Term life insurance covers you for a set period and pays the death benefit if you die during that term. It's the right choice if you need affordable coverage for a defined window like raising children, paying off a mortgage or covering a business obligation.
Nationwide Guaranteed Level TermNationwide has no-exam term life insurance with coverage amounts up to $1.5 million and an online application process that can deliver decisions in minutes. The coverage limit is lower than that of some competitors, but there's a streamlined underwriting process.
Policies are available from ages 21 to 55, a narrower age range than many competitors, which frequently accept buyers into their mid-60s or early 70s. Coverage terms range from 10 to 30 years, and term coverage can convert to a permanent policy before the term expires without a new medical exam required. Applications go through Nationwide's Life Essentials platform.
Whole Life Insurance
With fixed premiums and guaranteed cash value growth, whole life insurance covers you for life. It fits buyers who want permanent coverage and a savings component that doesn't depend on market performance.
Nationwide Heritage Single Premium Whole LifeAdults ages 40 to 80 who want to turn a lump-sum payment into permanent life insurance coverage with a larger, tax-free death benefit can get Nationwide Heritage Single Premium Whole Life. A one-time premium of $10,000 to $275,000, depending on age, funds lifelong coverage with no additional premium payments required.
The policy builds guaranteed cash value, includes accelerated death benefits for chronic and terminal illnesses, and has a surrender benefit equal to 100% of the premium paid, minus any outstanding loans. One drawback is that maximum premium contributions vary by age, so younger applicants can invest less than older policyholders can.
Whole Life 100 and 20-Pay Whole LifeNationwide 20-Pay Whole Life comes with permanent life insurance and premiums paid over 20 years. It's a good fit for lifelong coverage without making payments for life. The policy is available to applicants from birth through age 80, with coverage amounts starting at $10,000 for most nonsmoking applicants.
The policy includes guaranteed level premiums, guaranteed cash value growth and a guaranteed death benefit through age 120. Accelerated death benefits for chronic, critical and terminal illnesses are included, and optional riders such as accidental death and guaranteed insurability can further customize coverage.
Universal Life Insurance
Universal life insurance provides lifelong coverage and lets you adjust premiums and death benefits as your needs change. It's better suited for buyers who expect their coverage needs to shift over time.
Nationwide No-Lapse Guarantee UL IINationwide No-Lapse Guarantee UL II (a universal life insurance policy) has affordable, permanent death benefit coverage with the flexibility to adapt as needs change. Coverage can be structured to last through retirement or throughout a lifetime, and an optional return-of-premium rider gives policyholders a way to recover some or all of their own premiums if coverage is no longer needed.
It can be a useful solution for estate planning, wealth transfer and business buy-sell agreements. Nationwide doesn't publicly disclose premium ranges or issue-age limits for this policy, so a personalized quote is the only way to compare costs and eligibility.
Indexed Universal Life Insurance (IUL)Market performance determines cash-value growth in indexed universal life insurance.
- Nationwide Indexed Universal Life Accumulator II 2020: Designed for people focused on long-term cash value accumulation, this policy has market-linked growth potential with downside coverage through a 0% floor rate.
- Nationwide YourLife Indexed UL Accumulator: Available exclusively in New York, this version has the same accumulation-focused design, complying with state-specific regulations and requirements.
- Nationwide Indexed UL Protector II 2020: Designed for buyers seeking affordable lifetime coverage, this policy focuses on stable premiums and a guaranteed death benefit rather than maximum cash-value growth.
- Nationwide YourLife Indexed UL Protector: A New York-only version of the Protector II 2020 policy, with steady premiums and a guaranteed lifetime death benefit under state rules.
- Nationwide Survivorship Indexed UL 2020: This second-to-die policy insures two people and pays the benefit after the second death. Estate planning and wealth transfer strategies frequently use this structure.
Variable Universal Life Insurance (VUL)Market-linked investments combine with lifelong coverage in variable universal life insurance, with cash value directed into professionally managed investment options.
- Nationwide Variable Universal Life Accumulator: This policy has diverse investment options with tax-deferred growth potential, so customers can flexibly allocate cash value.
- Nationwide Variable Universal Life Protector II: Focuses on a guaranteed death benefit rather than market performance, with stable coverage for those who prefer predictable long-term security.
- Nationwide Survivorship Variable Universal Life II: A joint survivorship policy that insures two individuals and pays after the second death, combining investment flexibility with estate-planning benefits.
- Nationwide Advisory Variable Universal Life: Tailored for fee-based financial advisors, this policy integrates with professionally managed investment portfolios and advisory relationships.
NATIONWIDE POLICY LIMITATIONS AND EXCLUSIONS
Nationwide life insurance policies include a standard suicide clause. If you die by suicide within the first two years, your beneficiaries receive only premium refunds, not the full death benefit.
Product availability and terms vary by state due to insurance regulations. Some policies aren't available in certain states like New York. Contact a licensed agent to confirm which products are available where you live.
Nationwide's Life Insurance Riders
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.
Long-Term Care | Accelerates part of the death benefit if you need long-term care |
Chronic Illness | Allows access death benefits early after diagnosis of a permanent chronic illness |
Critical Illness | Allows early access to death benefits if diagnosed with a covered critical illness (e.g., heart attack, cancer) |
Terminal Illness | Allows access to the death benefit upon a terminal illness diagnosis |
Premium Waiver | Credits monthly premiums after six months of total disability |
Waiver of Monthly Deductions | Pays monthly deductions while disabled after a six-month waiting period |
Accidental Death Benefit | Adds extra payout if death results from an accident |
Extended No-Lapse Guarantee | Keeps the death benefit guaranteed even if cash value falls |
Estate Protection | Provides an added amount to help offset potential estate tax liability |
Guaranteed Insurability Benefit | Lets you purchase more coverage later without a new medical exam |
Overloan Lapse Protection | Prevents policy lapse when loans reduce cash value |
NATIONWIDE'S MULTI-POLICY BUNDLING
Nationwide allows bundling of life, auto and home insurance under one account. Bundling won't reduce life premiums but can simplify billing and service while offering discounts on other lines of coverage. Managing multiple policies under one account simplifies billing and can lower costs on property and casualty coverage.
Nationwide Life Insurance Cost
For Nationwide's term life rates, costs land above the national average at lower coverage amounts, then drop below it starting at $500,000. A 40-year-old woman pays $4 a month more than average at $100,000, but $2 less at $500,000, with savings continuing through $1 million. A 40-year-old man pays $4 more than average at $100,000 and $4 less at $1 million.
$100,000 | $20 | +$4 (+25%) | $22 | +$4 (+20%) |
$250,000 | $32 | +$3 (+12%) | $38 | +$3 (+10%) |
$500,000 | $45 | -$2 (-3%) | $56 | -$2 (-4%) |
$750,000 | $65 | -$2 (-4%) | $81 | -$4 (-4%) |
$1,000,000 | $84 | -$3 (-3%) | $105 | -$4 (-4%) |
* Rates based on 40-year-old nonsmokers with average health on a 20-year term policy.
How to Get Nationwide Life Insurance Coverage
Nationwide gives you several options for applying, and the process varies based on which type of policy you're after.
- 1Determine Your Coverage Needs
Start by estimating how much life insurance a family would need after a death, with 10 to 12 times annual income a reasonable benchmark. A consultation with Nationwide, online or by calling 1-866-207-9160, can help with guidance. MoneyGeek's life insurance calculator also gives a fast baseline number.
- 2Choose Your Policy Type
Term life fits coverage needed for a specific timeframe. Coverage that lasts an entire life and grows cash value points instead toward whole or universal life.
- 3Get a Quote
Nationwide's online quote tool checks pricing for no-exam term life insurance, or a licensed agent can give tailored quotes and guidance on permanent policies.
- 4Submit Your Application
The application covers age, health history, tobacco use, beneficiaries and coverage amount. This step can happen online or with help from an agent for one-on-one support.
- 5Complete the Underwriting Process
Some policies require medical underwriting, which may include a medical exam based on age, coverage amount and policy type. Qualified applicants can also use Nationwide's simplified underwriting to apply without an exam.
- 6Review and Accept Your Policy
After approval, the policy details deserve a review, followed by the first premium payment and receipt of official documents. Coverage begins once everything is confirmed.
Nationwide's Claims Process
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 Life Insurance vs. Alternatives
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 gets you up to $1.5 million in term life coverage without a medical exam, and an instant decision iis available online for eligible applicants. Its coverage limits fall below many competitors, and term policies stop at age 55.
Buyers who need coverage later in life can find better options with insurers like Pacific Life, which has 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 a new medical exam.
Nationwide | $45 (F), $56 (M) | 10-30 years | 21-55 | $1.5 Million | A+ | 4.3 |
Banner Life | $37 (F), $46 (M) | 10-40 years | 20-75 | $10 Million | A+ | 4.5 |
Transamerica | $37 (F), $46 (M) | 10-30 years | 18-80 | $10 Million | A | 4.4 |
Penn Mutual | $38 (F), $47 (M) | 10-30 years | 20-70 | $10 Million | A+ | 4.3 |
Pacific Life | $38 (F), $54 (M) | 10-30 years | 18-80 | $10 Million | A+ | 4.2 |
Fidelity | $44 (F), $58 (M) | 10-30 years | 18-70 | $10 Million | A- | 4.2 |
Protective | $42 (F), $54 (M) | 10-40 years | 18-75 | $10 Million | A+ | 4.1 |
Mutual of Omaha | $49 (F), $60 (M) | 10-30 years | 18-80 | $10 Million | A+ | 4 |
Bottom Line: Is Nationwide Life Insurance Right for You?
Nationwide gets you advisor-guided planning, the ability to convert term coverage to permanent coverage 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 dependable 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.
Nationwide Life Insurance: FAQ
Yes, Nationwide has built a strong reputation over its 100-year history. AM Best rates Nationwide A+ (Superior) and the BBB rates it A+ as well. Its NAIC complaint index is 0.08, far below the 1.0 industry baseline, meaning far fewer complaints than average for a carrier its size.
Nationwide settles most life insurance claims within 30 days after receiving all required documents. Strong financial ratings and a straightforward claims process show the company handles benefit payments reliably.
Nationwide life insurance is available in most states, but some plans have limited availability. Certain policies aren't available in New York due to state regulations. Features vary by state based on local insurance requirements.
Yes. Nationwide's Guaranteed Level Term policies include a conversion feature that lets you switch to a permanent policy before the term ends without a new medical exam. This is useful if your health changes and you want to lock in coverage beyond the original term period.
Nationwide offers simplified underwriting on its term life policies through its Life Essentials digital platform. You can apply online and get a decision without a medical exam if you qualify based on age, coverage amount and health questions.
MoneyGeek scored Nationwide using rate data for our baseline profile of a 40-year-old male nonsmoker in average health seeking $500,000 in coverage on a 20-year term. The MoneyGeek Score weights affordability at 50%, customer experience at 30% and coverage options at 20%. Customer experience ratings draw from customer reviews, J.D. Power life insurance study scores, AM Best financial strength ratings and NAIC complaint indexes.
Related Pages: Other Company Reviews
About Patrick Bryant
Patrick Bryant is the Vertical Lead for Life and Health Insurance at MoneyGeek, where he researches insurance products, writes consumer guides and maintains the scoring methodologies behind our provider comparisons. He analyzed more than 50 life insurance carriers across multiple policy types, collecting thousands of quotes nationwide to evaluate rates, coverage options and underwriting factors. His methodologies are reviewed quarterly to reflect current market conditions and carrier data.
Sources
- Nationwide. "File An Insurance Claim." Accessed March 25, 2026.
- Nationwide. "Indexed Universal Life Insurance." Accessed March 25, 2026.
- Nationwide. "Life Insurance Riders." Accessed October 21, 2025.
- Nationwide. "Term Life Insurance." Accessed March 25, 2026.
- Nationwide. "Universal Life Insurance." Accessed March 25, 2026.
- Nationwide. "Variable Universal Life Insurance." Accessed March 26, 2025.
- Nationwide. "Whole Life Insurance." Accessed March 25, 2026.