Nationwide Launches New Whole Life Insurance Product with Streamlined Application
COLUMBUS, Ohio, January 15, 2025 – Nationwide has unveiled its new Nationwide Heritage® Single Premium Whole Life (SPWL) insurance product, a financial solution designed to provide a simple way to increase the funds left to beneficiaries compared to traditional investment options. Promising a seamless process, the new product offers an instant decision after completing only three underwriting questions.
The Heritage SPWL policy offers a guaranteed death benefit and cash value, providing a potentially more significant inheritance for families. Clients maintain control of their investment while also avoiding a large tax burden, creating a way to convert funds into a larger gift for their families immediately.
“The Heritage product is a fantastic way to leverage funds to provide a death benefit to loved ones,” said Chuck Bremer, vice president of life product development for Nationwide. “The transactional application process, with no client interview or medical exam, makes it easier for clients to obtain coverage.”
Key Features of Nationwide Heritage SPWL:
- Guaranteed Cash Value: Cash value accumulates over time, accessible through policy loans, lending financial flexibility to plan for unexpected situations.
- Refund of Premium Guarantee: Clients receive 100% of their premium if they decide the policy isn’t the right choice.
- Guaranteed Death Benefit: Financial security for loved ones with a guaranteed death benefit, offering beneficiaries various payout options, including lump-sum payments or annuities.
- Tax Advantages: Tax-deferred cash value growth and generally income tax-free death benefits offer significant tax advantages.
Heritage SPWL is tailored to preserve wealth for generations, offering financial protection. “With guaranteed death benefits, tax advantages, and the ability to grow cash value, Heritage SPWL is an excellent choice for those looking to turn extra funds into a gift for their loved ones,” added Bremer.
About Nationwide
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified financial services and insurance organizations in the United States. The company is rated A+ by Standard & Poor’s. Nationwide offers a full range of insurance and financial services products. For more information, visit www.nationwide.com.
