Target market
Nationwide VUL Accumulator is designed for clients with an investment mindset, ages 35 to 55, who are looking for the protection of life insurance and the potential for cash value accumulation which can be accessed for tax-advantaged income.
Product details
- Minimum specified amount: $100,000
- Surrender charge period: 10-year declining schedule
- Fees:
- Monthly Administrative Charge:
- Current: $10 in all years
- Guaranteed: $20 in all years
- Premium load charge:
- Current: 6.00% in all years
- Guaranteed: 10% in all years
- Monthly per thousand charge:
- Banded structure like the cost of insurance (COI) rates. Each segment of base will have its own per thousand charge. The charge for a base segment will vary by sex, current underwriting classification, segment band, issue age, and death benefit option.
- The current per thousand charge will be assessed for 10 policy years, as measured from the policy date for the initial base specified amount and from the effective date of any increase in the specified amount.
- Decreasing a segment of coverage will not decrease the monthly per thousand charge.
- Monthly cost of insurance:
- Varies by age, sex, duration, total specified amount, smoking status and rating
- Mortality and expense charge:
- Currently 0% of variable cash value, guaranteed to never exceed 0.50% of variable cash value annually
Key features
- Designed for growth potential: A wide range of investment options from brand-name fund companies, our own NVIT BluePrint and NVIT Investor Destinations asset allocation options — and many low-cost options.
- Indexed interest strategies: Three strategies available: One-Year S&P 500® Annual Point-to-Point; One-Year Uncapped S&P 500® Annual Point-to-Point, and the Multi-Index Monthly Average, which determines the interest rate based on performance of S&P 500®, NASDAQ-100® and Dow Jones Industrial Average (50% of top performing index, 30% on second best performer and 20% of the third).
- Nationwide VUL Rewards ProgramSM: Credits additional interest at an annualized rate of 0.40% starting in policy year 16 — when eligibility requirements are met
- Requirements: Satisfy an accumulated premium test (premium paid minus any loans or partial surrenders) at the start of policy year 16; earlier for issue ages 51 or older
- Benefit: 0.40% credit applied annual — guaranteed as long as policy is in force
- Premium monitoring is included to help your clients stay on track to meet eligibility requirements
- Catch-up premiums are interest free
- See Conditional Credit in the product prospectus for more detail
- Nationwide Automated Income Manager: A service at no extra charge to help your clients set up and manage withdrawals for income; pairs nicely with Overloan Lapse Protection rider to meet income management needs
- Greater simplicity: Management tools, sales support and top-notch underwriting programs make the product easier to sell, while the life insurance, growth potential and tax advantages make sense to clients
View the prospectus. (pdf)
Annual/Semiannual reports