- History and Market Position of Nationwide: Established in 1926, Nationwide is a longstanding Fortune 100 company that holds about 3.6% of the U.S. life insurance market and is unique as a mutual company owned by policyholders.
- Best For Customers Who Value Stability and Choice: Nationwide appeals to those needing flexible policies, extensive options, and a company with a proven track record of stability, making it ideal for long-term security-minded consumers.
- Strong Financial Strength and Customer Satisfaction: Rated A+ by AM Best and S&P, Nationwide has a solid financial foundation, with minimal complaints and a reputation for reliability and customer satisfaction.
- Diverse Policy Offerings and Built-in Benefits: Offering everything from term to universal and long-term care policies, many include free features like living benefits, providing good value and adaptability for changing needs.
- Areas for Improvement and Digital Experience Limitations: Young adults under 21 often face higher rates, and the company's digital tools are somewhat limited, lacking live chat and online payment options for some policies, which can be inconvenient.
Nationwide Life Insurance Overview
Here’s the deal with Nationwide: they’ve been selling insurance since your great-grandparents were young. The company kicked off in 1926, hawking auto policies to Ohio farmers, then jumped into life insurance about nine years later. Fast forward to today, and they’re sitting pretty as a Fortune 100 company pulling in roughly 3.6% of all life insurance business in the country.
One thing that sets Nationwide apart? It’s a mutual company. Translation: the people who buy policies technically own the company, not Wall Street investors. Whether that actually changes how they treat you is debatable, but it’s a different structure than most big insurers.
Who Is Nationwide Life Insurance Best For?
This carrier clicks for people who like having choices. Maybe you’re unsure whether you need coverage for 20 years or the rest of your life. Maybe your situation is complicated. Nationwide lets you pick from a menu extensive enough to handle whatever curveballs life throws. If you already have your car or home covered through them, bundling could knock some dollars off your bill. And honestly? If sleeping well at night knowing your insurer will definitely exist in 40 years matters to you, few companies inspire more confidence.
Key Strengths
Let’s talk about what Nationwide gets right. First up: people barely complain about them. When regulators crunch the numbers on how many gripes a company should get based on its size, Nationwide clocks in at just 8% of what’s expected. That’s wild. Their financial backing is rock solid, too, with the kind of ratings that make accountants happy. And if you’re the type who doesn’t know exactly what you want yet, they’ve got pretty much every flavor of life insurance you could ask for. The cherry on top? They throw in some “living benefit” features at no extra charge on most policies.
Key Weaknesses
Now for the not-so-great stuff. If you’re under 21, prepare for sticker shock because their rates skew high for the youngest adults. Want to chat with someone online in real time? Too bad, they haven’t figured that out yet. Some of their policies still can’t be paid through digital channels, which feels pretty 2010. And unless you’re buying their simplest term product, you’re going to need to talk to an actual human agent to get things done.
Nationwide Life Insurance
Nationwide's greatest strength is its undeniable, rock-solid stability, which is a non-negotiable when you're betting on a company that might need to pay out decades from now. They've been around since 1926 and boast top-tier financial strength ratings—like an A+ (Superior) from AM Best—which is second only to the best possible grade. This historical staying power is backed by massive assets (over $322 billion) and a minuscule complaint ratio. Regulators expect a certain number of grievances based on size, but Nationwide generates only about 8% of that expectation, which is a wild endorsement of their overall customer satisfaction and reliable operations.
When it comes to coverage, Nationwide is a one-stop shop that's tough to beat. They stock their shelves with practically every "flavor" of life insurance imaginable: standard Term, Whole Life, Universal Life, and even specialized products like CareMatters, which bundles life insurance with long-term care coverage. This variety is perfect for people whose needs might evolve over time. The real value, however, comes from the extras they include for free. Most policies come with built-in "living benefit" features that let you tap into your death benefit early if you receive a terminal or serious illness diagnosis, adding a layer of financial protection at no upfront premium cost.
Finally, while not always the cheapest, Nationwide delivers genuine value and a solid customer experience. Their pricing is competitive, with some industry analyses putting starting prices around $37 monthly for basic coverage. For those who want the simplest path, their Life Essentials term product is a huge win: you answer health questions online, skip the medical exam, and can be covered for up to $1.5 million in under 20 minutes. Plus, their mobile app is highly rated and handles most routine tasks—from paying bills to filing claims—efficiently, ranking first among industry analysts for mobile claims experience.
- Rock-Solid Financial Strength: Few carriers can match Nationwide's top-tier A+ ratings from agencies like AM Best and S&P, meaning your policy is built to last decades.
- Customers Barely Complain: Nationwide clocks in with only 8% of the formal grievances expected for a company its size, signaling high customer satisfaction.
- Every Flavor of Policy: Choose from a huge menu including Term, Whole, Universal, and even combined Life and Long-Term Care (CareMatters) to cover any situation.
- Free Built-in Value: Most policies include "living benefit" features at no extra charge, allowing you to access your death benefit early if diagnosed with a serious illness.
- Skip the Exam: Get up to $1.5 million in term coverage in under 20 minutes with the Life Essentials product, which skips the medical poking and prodding.
Nationwide Life Insurance Affordability
Money talk time. Nationwide positions itself competitively without being the absolute cheapest option on every quote. Some industry analyses put their starting prices around $37 monthly, which lands them among the more affordable big-name carriers. But your actual number depends entirely on the usual suspects: how old you are, what shape you’re in health-wise, and whether you want basic term or something fancier.
Their Life Essentials product targets people who want simple term coverage without medical poking and prodding. It tops out at $1.5 million in protection and comes in 10 or 20-year flavors. Permanent policies cost more because you’re getting lifelong coverage plus a savings component that builds over time.
Where Nationwide really shines in value is its included extras. Most policies come with built-in access to your death benefit if you get diagnosed with something serious like cancer, have a heart attack, or receive a terminal prognosis. You pay nothing up front for these features. A charge only kicks in if you actually use it. Other add-ons like accident protection or disability premium waiver do cost extra.
Bundling multiple Nationwide products together can trim your costs. Their fancier indexed universal life policies even include a rewards program that cuts certain charges by 25% after you’ve had the policy for about 20 years, assuming you’ve kept up with premiums consistently.
Nationwide Life Insurance Coverage Options
Variety isn’t a problem here. Nationwide stocks its shelves with term, whole, universal, and variable universal policies, so whatever your situation calls for, they’ve probably got something.
Term insurance comes in two main packages. Their traditional Guaranteed Level Term lets you pick durations of 10, 15, 20, or 30 years. Premiums stay locked for the whole stretch, and you can often convert to permanent coverage down the road if your thinking changes. Life Essentials is their streamlined digital option where you answer health questions instead of getting poked with needles. Approved applicants can wrap things up in about 15 minutes online.
Whole life gives you the set-it-and-forget-it approach. Your premium never changes, coverage lasts forever (as long as you pay), and cash value builds on a guaranteed schedule. You can structure payments to either last until you hit 100 or get the policy fully paid off in 20 years.
Universal life adds flexibility that whole life doesn’t have. You can adjust how much you pay and when, tweak your death benefit amount, and generally customize things as your circumstances shift. The cash value grows based on a fixed interest rate that the company sets.
For folks who want market exposure, indexed universal life ties your cash value growth to indexes like the S&P 500. You don’t invest directly in stocks, but your returns track market performance within certain caps and floors. Variable universal life goes further, letting you direct money into actual investment subaccounts with stocks, bonds, and other assets.
Couples can look at survivorship policies that insure both people but only pay out when the second one dies. These are popular for estate planning situations.
The CareMatters product mashes together life insurance and long-term care coverage. If you eventually need help with daily activities or move into assisted living, you can tap into your benefit. If you never need that care, your beneficiaries just get the death benefit instead.
Add-on riders let you customize further. Beyond the included illness accelerators, you can tack on extra death benefits for accidents, coverage for your kids, guaranteed rights to buy more insurance later without new health screening, and protection against your policy lapsing if you’ve borrowed heavily against it.
Nationwide Life Insurance Reliability
Life insurance is basically a promise that might not get tested for decades. That means the company’s financial strength matters a lot. Nationwide checks this box emphatically.
AM Best, an agency that specializes in rating insurance companies, gives Nationwide Life Insurance Company its A+ (Superior) grade. That’s second from the top on their 16-level scale. Standard & Poor’s agrees with their own A+ rating. Moody’s chips in with an A1 mark. All three ratings come with stable outlooks, meaning nobody expects things to get worse anytime soon.
The company wrapped up 2024 with over $322 billion in total assets and about $150 billion in investments. Operating income hit $3.2 billion, up significantly from prior years. These aren’t numbers that suggest any risk of struggling to pay claims.
Nationwide has operated continuously since before the Great Depression. They’ve survived world wars, recessions, financial crises, and market crashes while keeping their doors open and paying policyholders. That track record means something when you’re betting your family’s financial security on a company’s long-term survival.
The complaint picture reinforces the stability story. Compared to what regulators would expect from an insurer of their size, Nationwide generates barely a trickle of formal grievances. People who buy their products tend to stay satisfied.
Nationwide Life Insurance Customer Service
Let’s break down how getting help actually works with Nationwide.
Phone Support
Need to talk to a real person? Life insurance customers can dial 1-800-848-6331 between 8 a.m. and 8 p.m. Eastern on weekdays. Sales questions have their own number with slightly different hours. The company doesn’t staff phones around the clock, though it claims assistance does operate 24/7 for emergencies. Wait times seem reasonable based on customer feedback, without the hour-long holds some insurers inflict.
Digital Support
The Nationwide mobile app handles most routine tasks. You can view what your policy covers, check cash value on permanent policies, pay bills, and file claims. Industry analysts ranked them first for mobile claims experience, which says something about how smoothly that process flows. The app pulls solid ratings from both Apple and Android users.
What you won’t find is live chat. If typing to a support agent in real time sounds appealing, look elsewhere. You can fill out email contact forms on their website, but that’s not the same as instant gratification.
Third-Party Ratings
J.D. Power’s 2024 study on life insurance satisfaction placed Nationwide fifth among 21 companies evaluated. That’s solidly above average without quite reaching elite status. The Better Business Bureau gives them an A+ and maintains their accreditation. Their Life Essentials term product specifically earns glowing marks on review sites, with customers appreciating how painless the application process feels.
Browse insurance-focused Reddit threads, and you’ll find mixed opinions. Plenty of satisfied customers, some frustration with rate increases over time, and occasional complaints about claims taking longer than expected. Pretty typical spread for a major insurer.
Nationwide Life Insurance Claims Process
When the worst happens, and someone needs to file a claim, here’s what Nationwide’s process looks like.
Beneficiaries start by contacting the company online or by phone. If you know the policy number, the online portal walks you through everything. Without that info, you can request a search to locate the policy. Either way, a dedicated support team reaches out within three business days to provide guidance and make sure paperwork gets handled correctly.
Documentation requirements are standard stuff. You’ll need to submit a certified death certificate from whatever government agency issues those locally. The claims team reviews everything, may request additional materials if something’s missing, and processes payment once everything checks out.
Turnaround typically runs two to six weeks after all paperwork arrives complete. Missing information or unusual circumstances (like deaths that require investigation) can stretch that timeline. Making sure everything’s accurate before submitting prevents the most common delays.
Beneficiaries choose how they want to receive funds. A lump sum payment is the default for most people. But you can also opt for installment payments spread over time, or convert the proceeds into an annuity that generates ongoing income. Payment arrives via direct deposit, check, or through J.P. Morgan’s distribution platform.
Beyond just cutting checks, Nationwide offers support services for beneficiaries navigating financial decisions after losing someone. They provide access to professionals who can help with goal-setting and planning without rushing anyone into decisions during a difficult time.
Nationwide Life Insurance Application Process
Getting coverage starts differently depending on what you’re buying.
The Life Essentials term product offers the smoothest path. Answer some health questions online, skip the medical exam entirely, and potentially wrap up with an active policy in under 20 minutes. This works for anyone between 21 and 55 looking for up to $1.5 million in term coverage lasting 10 or 20 years.
Everything else requires more involvement. Permanent policies like whole life, universal life, and variable products all need an agent consultation. You’ll schedule a call or in-person meeting with one of roughly 11,000 independent agents across the country. This isn’t necessarily bad since these products are genuinely more complex, but it does add steps compared to a fully self-service experience.
Medical underwriting applies to most permanent products. Expect detailed health questionnaires and potentially a paramedical exam where a technician visits your home to collect blood and urine samples. Your health history, family history, and lifestyle factors all influence whether you qualify and what rate you’ll pay.
The company website includes calculators to estimate how much coverage makes sense before you start getting quotes. These tools walk through your income, debts, dependents, and goals to suggest a target number. Pretty useful for avoiding the common trap of either underinsuring or paying for more than you actually need.
Pros & Cons of Nationwide Life Insurance
Here’s the summary view on what works and what doesn’t.
Pros
Financial strength that few carriers can match translates to confidence that your policy will pay out decades from now. That minuscule complaint ratio suggests customers generally have good experiences throughout their relationship with the company. The product menu covers practically every life insurance scenario imaginable under one roof. Built-in living benefits on most policies deliver real value without inflating premiums. And that J.D. Power ranking confirms satisfaction levels run above industry average.
Cons
Adults under 21 can probably find cheaper rates by shopping around. No live chat support feels dated when most companies have figured this out by now. Not all policy types support online payment, creating unnecessary hassle. Buying permanent coverage requires agent involvement rather than self-service digital tools. And while the no-exam term option exists, most products still involve full medical underwriting.
Our Verdict & Rating for Nationwide Life Insurance
Nationwide delivers the goods for anyone who values stability over everything else. Nearly a century in business plus top-tier ratings from every major agency means you’re betting on a company with serious staying power. When your policy might not pay out for 30 or 40 years, that matters.
Product selection stands out, too. Whether you want dead-simple term coverage, tax-advantaged cash value growth, market-linked returns, or long-term care protection bundled with life insurance, Nationwide sells it. Few carriers let you address so many needs without shopping elsewhere.
Where they fall short is the modern convenience game. The digital experience works fine for their basic term product, but gets clunky for anything more complex. Missing live chat, limited online payment options, and mandatory agent involvement for permanent policies all create friction that more tech-forward competitors have eliminated.
Who Should Consider This Company
Nationwide fits well if you prioritize knowing your insurer will definitely exist when your family needs them. It works for people who already have other Nationwide policies and can bundle for savings. It makes sense for anyone who wants multiple coverage options available as their needs evolve. And their Life Essentials product specifically suits anyone wanting quick, straightforward term coverage without medical exams.
Who Should Consider Another Provider
Very young adults should compare quotes since Nationwide’s pricing runs high for that demographic. Pure digital natives who hate talking to humans might get frustrated with the permanent policy process. Bargain hunters, laser-focused on the absolute lowest premiums, should shop broadly since Nationwide isn’t always the cheapest despite competitive pricing.
Methodology
This assessment evaluates Nationwide Life across five weighted categories, including life insurance rates, reflecting what matters most to life insurance buyers.
- Financial Stability: 20% — Assessing partner carrier ratings from AM Best, S&P, and Moody’s, plus NAIC complaint data
- Coverage Options: 10% — Evaluating policy types, coverage amounts, term lengths, and flexibility
- Affordability & Value: 30% — Comparing premiums against competitors and considering overall value proposition
- Claims Process: 20% — Reviewing settlement timelines, denial rates, and customer claims experiences
- Customer Service: 20% — Analyzing support availability, response quality, and third-party satisfaction ratings
How Nationwide Life Insurance Scored
- Financial Stability: 9/10
- Coverage Options: 9/10
- Affordability & Value: 8/10
- Claims Process: 8/10
- Customer Service: 7/10
- Overall Score: 9.3
We reviewed over two dozen life insurance companies to assemble our ratings. You can see all the companies we reviewed here: Life Insurance Company Reviews.
Frequently asked questions
Answers to your questions about Nationwide life insurance.
Nationwide has been selling insurance since 1926, starting with auto policies for Ohio farmers and later expanding into life insurance. It is a Fortune 100 company with top-tier financial ratings, a long history of stability through various economic challenges, and a very low complaint ratio, which demonstrates high customer satisfaction and reliable operations.
Nationwide is best for people who value having multiple coverage options and desire the stability of a company that is likely to exist in the long term. It suits those interested in bundling policies, needing flexible plans for evolving needs, or sleep well knowing their insurer’s strong financial backing.
While not always the absolute cheapest, Nationwide prices competitively with starting quotes around $37 per month for basic plans. Their Life Essentials product offers quick, no-exam coverage for up to $1.5 million, making it an affordable option for straightforward term coverage.
Nationwide offers a diverse range of policies, including Term, Whole Life, Universal Life, Indexed Universal Life, Variable Universal Life, survivorship policies for couples, and specialized policies like CareMatters that combine life insurance with long-term care. Add-on riders allow further customization.
Customers can contact Nationwide by phone for support during weekdays, while their mobile app handles most routine tasks efficiently. The claims process involves contacting the company, submitting documentation like a death certificate, and typically takes 2 to 6 weeks. Customer satisfaction ratings are solid, though they lack live chat support.
