Nationwide Financial Services Inc. is offering a new variable universal life product, YourLife Accumulation VUL.

The product offers death benefit protection, potential cash value growth and living benefits.

The primary market for YourLife Accumulation is a person between 35 and 55 years old, affluent and with some market risk tolerance, says Nationwide, Columbus, Ohio. Typical clients would already be contributing the maximum amount allowable to their qualified retirement plans, have a well diversified portfolio and are seeking additional retirement income or have other income-planning needs, the company says.

A secondary market for the product includes business partners who want to protect their company from disruption should something happen to either of them. The potential cash value growth can be used by one partner to buy out the other in the case of early retirement. Or the death benefit could provide the capital needed for one partner to purchase the business back from the other partner’s estate, Nationwide notes.