An insurer is introducing a flexible-premium variable universal life policy that comes with a guaranteed death benefit rider.

Nationwide Financial Services Inc., a unit of Nationwide Mutual Insurance Company, Columbus, Ohio, says its new Nationwide YourLife Protection VUL policy designed for clients who want more than $150,000 in death benefit protection.

Nationwide Financial will guarantee death benefits for 10 years, the company says.

Clients can buy a rider that will extend the guarantee to 20 years, and they also can buy a rider that will pay benefits if the purchaser needs long term care.

The company notes that the company has eased some underwriting requirements, by, for example, eliminating the need for stress tests for applicants ages 40 to 50 who are seeking $10 million or more in coverage.

Nationwide Financial is issuing the coverage through Nationwide Life Insurance Company and Nationwide Life and Annuity Insurance Company. Those companies are responsible for backing the product guarantees.