Nationwide Life Insurance
- Rated 4 stars out of 5 by NerdWallet.
- Drew fewer life insurance complaints to state regulators than expected for a company of its size.
- Ranked high for customer satisfaction in a J.D. Power life insurance survey.
Nationwide started out as a small mutual company in Ohio with just auto insurance on the books. The Fortune 100 company now sells a full range of financial products across the country. Coverage options include term, whole, universal and variable life insurance, as well as business insurance, wedding coverage and more. Availability may differ among states.
Nationwide life insurance
Nationwide life insurance earned 4 stars out of 5 for overall performance. NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account complaint data from the National Association of Insurance Commissioners and financial strength ratings.
Based on these ratings, Nationwide is among NerdWallet’s Best Life Insurance Companies for 2021.
Nationwide life insurance policies
Nationwide’s term life insurance is a level term product, which means premiums stay the same throughout the length of the policy. You can buy coverage in 10-, 15-, 20- or 30-year terms, many of which can be converted to permanent life insurance at the end of the term. Available riders include an accelerated death benefit, which allows you to withdraw a portion of the death benefit early if you’re diagnosed with a terminal illness. Nationwide also offers term coverage for children, as well as a waiver of premium rider, which helps cover your premium payments if you become disabled.
Nationwide’s whole life insurance has a minimum coverage amount of $10,000 and two available payment options: Premiums are level for the first 20 years of the policy or until you turn 100. Additional whole life insurance riders include term life coverage for your spouse and children.
Nationwide’s universal life insurance and variable life products include survivorship insurance, which covers two parties, typically spouses. The company also offers indexed universal life insurance. In some cases, you can add an overloan protection rider, which prevents your coverage from lapsing if you borrow against the policy’s cash value and the loan exceeds the account total.
» MORE: Compare life insurance quotes
Nationwide customer complaints and satisfaction
For life insurance, Nationwide has drawn fewer complaints to state regulators than expected for a company of its size, according to three years’ worth of data from the National Association of Insurance Commissioners.
Nationwide ranked third out of 23 companies in J.D. Power’s 2020 U.S. Life Insurance Study for overall customer satisfaction.
More about Nationwide life insurance
The company’s website includes detailed information about each policy, offering downloadable PDFs on most products. Quotes for term life insurance can be started online, but the company promotes speaking to a representative to complete the process. You can search for a Nationwide agent near you using the website.
Nationwide allows policyholders to pay premiums automatically through recurring payments. A fee may be assessed if you pay in installments. Premiums can also be paid over the phone or by mail.
The company’s mobile app allows policyholders to view coverage details, including cash value accounts. Some policyholders can also view billing details and make payments.
Other insurance products from Nationwide include:
- Auto insurance.
- Homeowners insurance.
- Renters insurance.
- Pet insurance.
- Wedding insurance.
- Travel insurance.
- Identity theft insurance.
- Business insurance.
Nationwide life insurance pros and cons
|Ranked third in J.D. Power's 2020 customer satisfaction study for life insurance.||Full access to billing and payment information on the mobile app may not be available to all policyholders.|
|Drew fewer complaints to state regulators than expected for a company of its size.|
Methodology: Life insurance ratingsNerdWallet’s life insurance ratings are based on weighted averages of financial strength ratings, which indicate a company’s ability to pay future claims, and complaint index scores from the National Association of Insurance Commissioners for individual life insurance. To calculate each insurer’s rating, we adjusted the scores to a curved 5-point scale.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews.