Nationwide Financial Services Inc. and John Hancock Life Insurance Company are updating their life insurance menus.
Nationwide, Columbus, Ohio, has introduced the Nationwide YourLife Term Insurance product.
Buyers can choose to keep premiums level for a term of 10, 20 or 30 years.
After the term is up, premiums will be guaranteed, but they will increase each year until the insured is 95, Nationwide says.
Riders available with the product include a 20-year term spouse rider, a children’s term insurance rider and a rider that can waive premiums for insureds who become disabled.