Nationwide Life Insurance
Nationwide Life Insurance Company Contact Information
One Nationwide Plaza
Columbus Ohio, 43215
800-882-2800
Nationwide Life Insurance Company
Nationwide offers a variety of life insurance services, homeowner insurance, business insurance as well as investment services.
Nationwide Life Insurance Review 2019
Nationwide is one of those life insurance companies that is well known throughout the industry and frequently advertises to ensure the consumers are aware of them and the financial products they can offer. Ask Peyton Manning.
He’s been representing Nationwide on many of their popular commercials for over 5 years and running.
Something to always understand when shopping for life insurance is that advertising and being on commercials with frequency doesn’t always make a company the best option you have as the consumer.
This can include pricing, underwriting guidelines, and overall product selection. This is one of the biggest reasons you always need to be searching for the best life insurance company that fits your specific needs.
Nationwide has been around almost 100 years. Nationwide has grown dramatically in the insurance industry and has become one of the most well-known companies you can turn to for your coverage and protection needs.
Here are some more of the details.
Nationwide Life Insurance Overview and Company History
Nationwide Life Insurance began back in 1926 and was initially founded in Ohio. Over the last 90 + years, Nationwide has expanded and now offers various lines of insurance in all 50 U.S. States.
Nationwide Life Insurance is still headquartered out of Columbus, Ohio but also has regional headquarters located in Iowa, Texas, Florida, North Carolina and California. Currently, as of 2019,
Nationwide employs more than 34,000 individuals and is sitting at an authoritative ranking of #66 on the Fortune 500 list.
One big positive about Nationwide is that they are currently ranked #53 on the top 100 Best companies to work for. While this may not be a massive benefit for the consumer, it still speaks loudly about the kind of company you may or may not be placing your life insurance coverage with at the end of the day.
While this all sounds great, Nationwide has been known for a few possible things to watch for before ultimately purchasing your life insurance through their company.
In October of 2012 and in June of 2014, Nationwide was hit multi-million-dollar payouts in punitive damages for a few different faulty methods they attempted to use when negotiating death claims with current policyholders.
While other companies in the industry have found themselves in similar situations in the past, it’s certainly something to have in the back of your head before making your decision.
This is one of the reasons we always recommend working with an independent life insurance agent that can guide you towards the best life insurance company that can truly serve your needs and match you with a company that will not only approve your policy but will offer you coverage at the lowest possible rates.
At the end of the day, that’s all any of us are looking for when we purchase life insurance. Well, and of course robust coverage with a reputable company is equally as important.
While on that topic, let’s take a quick look at the financial strength and BBB ratings that Nationwide Life Insurance is currently being afforded by the major credit rating agencies.
Nationwide Financial Strength and BBB Ratings
Financial strength ratings of a life insurance company are always something you should be considered during the purchasing phase. Currently, Nationwide is being afforded the following financial strength numbers.
A.M. Best– A+
Moody’s- A1
Standard and Poor’s- A+
Comdex Rating- 91
J.D. Power and Associates- 806
These are outstanding financial strength ratings that not all life insurance companies can claim they have. While some life insurance companies may have the same ratings or slightly better, many life insurance companies inevitably fall below this threshold.
These ratings alone are an excellent reason to consider using Nationwide for your life insurance coverage. How about their BBB ratings?
BBB ratings are also important to check before deciding to purchase insurance with any specific life insurance company.
They help paint the picture of how many complaints consumers have about the company. Currently, Nationwide is sitting on A+ BBB rating and has been accredited by the BBB since 1955.
This is the highest grade offered from the BBB. In the last 3 years, Nationwide has closed or resolved 78 complaints which goes to show that although complaints are filed from time to time, they do work hard to resolve the issue and keep the consumers happy and feeling safe about their coverage options.
Nationwide currently has assets that are over 180 billion so it’s not surprising in any fashion as to why they boast the financial strength numbers they have and why it’s clear that they are dominating the insurance industry across various lines of insurance such as auto, home, and life.
Nationwide Life Insurance Products Offered
When it comes to life insurance products, Nationwide does offer several options. Nationwide provides a well-known and affordable term life insurance product known as Nationwide Your Life.
It’s a level premium term product that allows you to select from 10 years, 15 years, 20 years, or 30 years in duration. Another positive about Nationwide life insurance products is that it currently offers some robust riders that you can add to your life insurance policy for a slightly higher premium.
These include the following rider options.
- Accelerated Death Benefit Rider
- Children’s Term Rider
- Waiver of Premium Rider
Permanent Life Insurance Products with Nationwide Life Insurance
Nationwide does also offer permanent life insurance products. Currently, you can purchase permanent life insurance through Nationwide in the following options.
Variable Universal Life
Universal Life Insurance
Whole Life Insurance
While there is nothing specifically wrong with the products offered by Nationwide, we always recommend speaking to an independent life insurance agent who can help you navigate and understand the permanent life insurance market more effectively to help you make a more informed decision.
Is Nationwide the Company for You?
While Nationwide is undoubtedly a powerhouse in the insurance industry and they always stick to their motto “Nationwide is on your Side”, that doesn’t necessarily make them the best option you can choose.
You should always be comparing rates across several life insurance companies and allowing an agent to guide you towards the companies that may offer the best coverage for your specific needs and health considerations.
Nationwide is surely a dominating force in the insurance industry and likely always be, but better options may exist. At the end of the day, it’s all about finding protection for your family’s future.
Spectrum Insurance Group is made up of professional life insurance agents who are licensed in all 50 states and the District of Columbia. Spectrum Insurance Group has helped 1000’s of people purchase life insurance online & over the phone.
All content on this site has been written by life insurance experts & licensed life insurance agents.