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- YourLife No-Lapse Guarantee UL Benchmarking;
Most competitive at ages 50 – 70 for level pays or dump-in cases with a recurring level pay premium solve, especially at face amounts of $500,000 or more
The LTC Rider is also approved on this product
Supplemental Coverage available |
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Revised Requirements for Nationwide YourLife® Single Premium UL.
To help manage financial impacts and ensure our ability to offer you and your clients quality products, we're modifying the requirements for our popular Nationwide YourLife Single Premium UL product. Please note that these changes were effective February 8, 2010:
The maximum premium that may be paid into Nationwide YourLife Single Premium UL policies is limited to $250,000, regardless of the number of SPUL policies an individual may have (less than 1% of applications currently exceed this amount)
- The build chart has been modified to reduce the maximum weight allowed for Preferred and Standard ratings - by 18 to 29 pounds, depending on height and underwriting class (click here for full details)
YourLife® Term II
Nationwide introduces a new Term product
With the introduction of Nationwide YourLife Term II, your producers and their clients have a simple solution to temporary protection needs. It offers:
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Easier access to forms and quoting tools through iPipeline and iGO
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Wellness credits that enable eligible clients to receive the next highest level of underwriting class - even Preferred
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The ability to convert from term to any product in our current suite of permanent individual products
Please note the new product includes a price adjustment from our previous term product. This adjustment is in line with industry changes and will help support new capital requirements at Nationwide and maintain our historic strength and stability. Review the product's details.
For any pending term cases in an approved state for the current YourLife term product, you have until March 8, 2010 to have the application signed and until April 8, 2010 to have the application received in house at the Nationwide Home Office.
- If your state has not approved Nationwide YourLife® Term II, a launch date will be established for your state, upon approval. The application must be signed no later than 30 days after that launch date and must be received in house at the Nationwide Home Office within 60 calendar days after the launch date
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