Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

Nationwide Selling Simplified VUL Policy

Your article was successfully shared with the contacts you provided.

NU Online News Service, Feb. 18, 6:13 p.m. – Nationwide Financial Services Inc., Columbus, Ohio, is introducing the BEST of AMERICA Advantage Flexible Premium Variable Universal Life policy.

Nationwide tried to make the policy a simplified VUL policy that would be easy for registered representatives to understand and sell, the company says.

A VUL policy is a policy that combines life insurance protection with a mechanism for investing policy assets in stock funds, bond funds, and other investment funds that, in some respects, resemble mutual funds.

The charge structure for the new Nationwide VUL policy is unusually simple for a VUL policy, the Nationwide says.

The charge structure includes a charge based on the amount of assets in the policy; a basic surrender charge; and a cost-of-insurance charge that depends on the age and health of the customer.

The issue age for the policy ranges from 21 to 55.

Registered reps who sell the policy will get a CD-ROM that includes information about variable life insurance, illustration software and a product application, Nationwide says.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.