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Life Markets |
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Paperless delivery preferences for clients |
Starting last month, some of your clients with an active online account began receiving notices in the mail regarding paperless delivery preferences for policies starting with B5, N5 or 8. When clients choose to receive their Life documents electronically, they will receive paperless email notifications and will be able to access their documents by logging into their online accounts. Paperless delivery preferences not only help the environment, but also improves the security and protection of clients’ sensitive information.
If a client has no document delivery preference selected and currently receives paper documents, the notice will inform them of a deadline to make a selection. If no selection is made by the stated date, the client will be automatically enrolled in paperless delivery preferences.
Regardless of their selection, clients will still receive some specific important documents that we are requiring to be sent via traditional mail. These documents will also be available to view in their online accounts. . |
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Reminder: Nationwide® IUL 2020 and CareMatters® products: fixed interest rate increases |
We’re pleased to share our 0.25% fixed rate increase in the following Nationwide products, effective April 1, 2024:
- Nationwide IUL Accumulator II 2020
- Nationwide IUL Protector II 2020
- Nationwide Survivorship IUL 2020
- Nationwide CareMatters II
- Nationwide YourLife CareMatters (NY)
Our IUL 2020 products’ fixed rate is 3.75%. Our CareMatters products’ fixed rate is 2.25%. Learn more about the fixed rate increases here. |
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Reminder: Nationwide’s Advanced Premium Deposit Rate increasing to 3.5%, effective April 1, 2024 |
Good news for clients seeking to prepay premiums! Nationwide increased the interest rate on our Advanced Premium Deposit Fund again, this time to 3.5% effective April 1, 2024. Policyholders already using the account are automatically receiving the higher rate. Learn more about the Advanced Premium Deposit Fund here. |
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Nationwide CareMatters® II Price Improvement in California – April 1, 2024 |
Beginning June 12, 2023, Nationwide began implementing a price improvement across all scenarios for the current CareMatters® II product. It represented a price decrease for all scenarios, which varies by the characteristics of the case.
This price improvement required state approvals; thus, the rollout of the price improvement took several months. We’re pleased to announce that we now have approval for the repricing in all states including California.
The pricing improvement in California is effective April 1, 2024.
YourLife CareMatters® in New York will not be affected by this change.
In addition, to make CareMatters II more accessible to more clients, Nationwide has lowered the minimum LTC benefit from $2,500 a month to $1,500 a month. The minimum is $1,550 in California. The states of Wisconsin, South Dakota and Vermont also require higher minimums.
Please see the Transition Guidelines for more details and applicable states where this change is taking effect. |
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This email was sent to: stevec@urlinsgroup.com This email was sent by: Nationwide, One Nationwide Plaza, Columbus, OH, 43215
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• Not a deposit • Not FDIC or NCUSIF insured • Not guaranteed by the institution • Not insured by any federal government agency • May lose value |
This material is not a recommendation to buy or sell a financial product or to adopt an investment strategy. Investors should discuss their specific situation with their financial professional.
Keep in mind that, as an acceleration of the death benefit, exercising the Chronic Illness Rider or the Critical Illness Rider payout will reduce both the death benefit and cash surrender value by an amount greater than one dollar for every dollar paid. Make sure life insurance needs will still be met, even if the rider pays out in full. Though riders that customize a policy to fit individual needs usually carry an additional charge, neither the Chronic Illness Rider, the Critical Illness Rider nor the Terminal Illness Rider has an initial cost or upfront monthly charge when any is included in the policy; however, a cost is incurred if and when the rider is exercised. A life insurance purchase should be based on the life policy and not solely on riders or features.
The chronic illness, critical illness or terminal illness benefit paid will be reduced to pay due and unpaid premium or charges. Additionally, a pro rata portion of the payment will be applied as a policy loan payment if there is any outstanding indebtedness.
Neither Nationwide nor its associates provide tax or legal advice. Benefits may be taxable under certain circumstances. Clients should consult with their tax and legal advisors about their specific situation.
Be sure to choose a product that meets long-term life insurance needs, especially if personal situations change — for example, marriage, birth of a child or job promotion. Weigh the costs of the policy and understand that life insurance has fees and charges that vary with sex, health, age and tobacco use. Riders that customize a policy to fit individual needs usually carry an additional charge. Rider names and availability vary by state.
Nationwide CareMatters is a cash indemnity product that pays LTC benefits when the insured person is certified to have a qualifying condition and a need for LTC services. Bills and receipts showing actual expenses do not have to be submitted for payment of benefits once a claim has been approved. Each year, the policyowner can receive, tax free, the greater of the HIPAA per diem amount or actual LTC costs incurred. However, benefits may be taxable under certain circumstances. Taxpayers should consult with their tax and legal advisors about their specific situation. Benefits under the LTC Rider are an advance payment of the policy’s death benefit while the insured is still living. Accelerating the death benefit, along with taking loans and withdrawals, reduces both the death benefit and cash surrender value of the policy.
Caregiver Advocate is available at no additional cost. It might not be available in all states/territories or in all products. Caregiver Advocate is administered by LTCG®. Nationwide is not affiliated with LTCG. Caregiver Advocate is subject to availability and may be modified, suspended or terminated at any time. Access to the services available through Caregiver Advocate will terminate if the owner terminates or surrenders their contract with Nationwide.
Caregiver Advocate is provided as a service to you by Nationwide. Caregiver Advocate is a third-party vendor site that is not hosted or affiliated with Nationwide, and Nationwide is not responsible for the content or the accuracy of any information or materials located on the site.
Products are issued by Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company, Columbus, Ohio. The general distributor for variable products is Nationwide Investment Services Corporation, member FINRA.
Guarantees are subject to the claims-paying ability of the issuing insurance company.
Products may not be available in all states. Riders are available for an additional cost, may not be available on all products or in all states and may be known by different names in different states. Nationwide CareMatters II is not available in MT, CA and NY. YourLife CareMatters is available in NY and CA instead.
FOR FINANCIAL PROFESSIONAL USE ONLY — NOT FOR USE WITH THE PUBLIC
Nationwide, the Nationwide N and Eagle, Nationwide is on your side, and other marks displayed in this message are service marks of Nationwide Mutual Insurance Company and/or its affiliates, unless otherwise disclosed. Third-party marks that appear in this message are the property of their respective owners. © 2024 Nationwide.
LAE-0770AO-BG.94 (2/24)
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Email ID: 10856182-EIP05224--716114
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