Nationwide is lowering the cost of a long-term care benefits product, CareMatters II.
The company told distributors and agents earlier this week that, in most of the country, it will cut prices on the LTC product by an average of 5% July 11.
The company is also increasing the maximum policy issue age from 70 to 75.
The price cuts do not apply in New York and California.
The CareMatters II product is a universal life insurance policy that offers LTC benefits.