Nationwide Term Life Insurance: Secure Your Family’s Future

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Life insurance is a vital aspect of financial planning, and if you’re looking for a term life insurance policy, Nationwide could be a great choice. With over 90 years of experience in the insurance industry, Nationwide offers comprehensive life insurance coverage to meet your family’s needs. In this article, we’ll cover everything you need to know about Nationwide term life insurance, including its benefits, features, and the application process.

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What Is Nationwide Term Life Insurance?

Nationwide term life insurance is a policy that provides coverage for a specific period, usually between 5 to 30 years. If you pass away within the policy term, your beneficiaries will receive a death benefit payout. Term life insurance is generally less expensive than permanent life insurance because it doesn’t carry any cash value.

Benefits of Nationwide Term Life Insurance

Nationwide offers several benefits with its term life insurance policy:

Benefits
Details
Flexible policy terms
You can choose coverage for 5, 10, 15, 20, 25, or 30 years.
Convertibility
You can convert your term policy to a permanent one if your insurance needs change.
Accelerated death benefit
If you’re diagnosed with a terminal illness, you can receive a portion of your death benefit to cover medical expenses.
No medical exam option
If you’re healthy, you may be eligible for a policy without a medical exam.

Features of Nationwide Term Life Insurance

Nationwide’s term life insurance policy comes with the following features:

Guaranteed Level Premiums

Your premiums will remain the same throughout the policy term.

Renewability

You can renew your policy at the end of the term without having to reapply for coverage. However, your premiums will increase with each renewal.

Waiver of premium

If you become disabled, you won’t have to pay your premiums while your policy remains in force.

Additional riders

You can add additional coverage to your policy, such as accidental death, child term, or critical illness riders.

How Much Does Nationwide Term Life Insurance Cost?

The cost of your Nationwide term life insurance policy will depend on several factors, including your age, gender, health, and the amount of coverage you need. Generally, younger, healthier individuals will pay lower premiums than older or less healthy individuals.

Nationwide offers a free online quote tool that can give you an estimate of how much your policy will cost based on your personal details.

How to Apply for Nationwide Term Life Insurance?

You can apply for Nationwide term life insurance online, over the phone, or by working with an independent agent.

Application Process

The application process for a Nationwide term life insurance policy typically involves the following steps:

Step 1: Get a Quote

Use Nationwide’s online quote tool or talk to an agent to get an estimate of how much your policy will cost.

Step 2: Complete an Application

Fill out an application with your personal details, including your name, address, and health information.

Step 3: Medical Exam (If Required)

Depending on your age and health status, you may need to take a medical exam to qualify for coverage. A medical professional will come to your home or workplace to conduct the exam.

Step 4: Underwriting

After you’ve completed the application and any necessary medical exams, Nationwide will review your application and determine whether to offer you coverage and at what price.

Step 5: Acceptance and Policy Issuance

If Nationwide approves your application, you’ll receive your policy contract and have the opportunity to review it before making a decision to accept or decline coverage.

FAQ: Nationwide Term Life Insurance

What happens if I outlive my Nationwide term life insurance policy?

If you outlive your term life insurance policy, your coverage will expire, and you won’t receive any death benefits from Nationwide. However, you can renew your policy or convert it to a permanent life insurance policy (if available).

Do I need a medical exam to qualify for Nationwide term life insurance?

Not all applicants will need a medical exam to qualify for coverage. Younger individuals or those in good health may qualify for a policy without a medical exam. However, older or less healthy applicants may need to take a medical exam to qualify for coverage.

Can I add riders to my Nationwide term life insurance policy?

Yes, Nationwide offers several riders that can be added to your policy, including accidental death, child term, and critical illness riders.

Can I cancel my Nationwide term life insurance policy?

Yes, you can cancel your policy at any time by contacting Nationwide or your independent agent. However, if you cancel your policy before the end of the term, you won’t receive any death benefits or refunds of any premiums you’ve paid.

What is the difference between term life insurance and permanent life insurance?

Term life insurance provides coverage for a specific period, usually between 5 to 30 years, while permanent life insurance provides coverage for your entire life. Permanent life insurance policies also carry a cash value component that can grow over time.

Conclusion

Nationwide term life insurance is a great option for those looking for comprehensive and flexible coverage at an affordable price. With its variety of features and benefits, you can customize your policy to meet your family’s unique needs. To get started with a Nationwide term life insurance policy, use the online quote tool or speak with an independent agent today.

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