A unit of Nationwide Financial Services Inc. has developed a YourLife product aimed at couples.
Nationwide Life Insurance Company is selling the Nationwide YourLife Survivorship VUL variable universal life policy, according to Nationwide, Columbus, Ohio.
The product insures two people and pays benefits when both insureds have died.
The product offers a customizable death benefit guarantee rider.
Nationwide expects the typical insureds to be clients ages 50 to 70 who are seeking at least $2.5 million in death benefits and have at least moderate investment risk tolerance.
Nationwide Life is responsible for backing the product guarantees.