Nationwide introduces Heritage Single Premium Whole Life Insurance

Nationwide introduces Heritage Single Premium Whole Life Insurance

New streamlined quote and application process ensures an instant decision with no medical exam required

Columbus, OH - Nationwide is introducing the Nationwide Heritage® Single Premium Whole Life (SPWL) insurance product, a new solution that can significantly increase funds left to loved ones compared to traditional investment options.

Heritage SPWL is a life insurance policy that offers a quick and easy way to turn funds into a larger gift for their family today - without the client losing control of their investment or passing on a large tax burden. The one-time premium payment provides a death benefit and cash value that are both guaranteed, along with other valuable policy features, including 100% return of premium. Nationwide's streamlined application process provides an instant decision with just three underwriting questions.

"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: Accumulates cash value over time, accessible through policy loans, offering financial flexibility. Clients can access liquidity for unexpected expenses or opportunities.
• Refund of Premium Guarantee: If a client decides the policy is not right for them, they will never receive less than 100% of their premium.
• Guaranteed Death Benefit: Financial security for loved ones with a guaranteed death benefit, allowing beneficiaries to choose from various payout options, including lump-sum payments or annuities.
• Tax Advantages: Tax-deferred cash value growth and generally income tax-free death benefits, providing significant tax benefits.

Heritage SPWL is an excellent tool to help preserve wealth and provide for future generations.

"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," Bremer added.