On November 7, 2020, Nationwide will launch an update to our Nationwide IUL Accumulator 11, Nationwide IUL Protector II and Nationwide Survivorship IUL products. The changes build on our low-cost, transparent design that’s focused on putting customers’ needs first.

Introducing:

  • Nationwide IUL Accumulator II 2020
  • Nationwide IUL Protector II 2020
  • Nationwide Survivorship IUL 2020

What we are changing:

  • Removing all multipliers
  • Keeping five of the indexed interest strategies and increasing the cap rate on two of them; lowering the cap rate on two, and increasing the spread rate on one
  • Increasing the maximum illustrated rate for core strategies
  • Lowering the maximum illustrated spread on IUL alternative loans to 0.50%

Important dates:

  • Nov. 6, 2020: Applications must be received in good order to receive the old product.
  • Nov. 7, 2020: Applications received on or after this date will be for the new, updated products.
    See the “Nationwide 2020 Transition Guidelines” for details on when cases must be funded and in-force for the old product design, including the 1035 funding deadline.
Nationwide® IUL Accumulator II 2020
Nationwide® IUL Protector II 2020
Indexed interest strategy — all one-year segments Cap/spread rate Strategy charge Maximum Illustrated Rate
Multi-Index Monthly Average 11.00% 0% 5.92%
S&P 500® Annual Point-to-Point 9.50% 0%
Uncapped S&P 500® Annual Point-to-Point 7.5% spread 0%
High-cap Multi-Index Monthly Average 20.00% 1% 6.99%
High-cap S&P 500® Annual Point-to-Point 12.50% 1%

 

 

Nationwide® Survivorship IUL 2020
Indexed interest strategy — all one-year segments Cap/spread rate Strategy charge Maximum Illustrated Rate
Multi-Index Monthly Average 11.00% 0% 5.92%
S&P 500® Annual Point-to-Point 9.50% 0%
Uncapped S&P 500® Annual Point-to-Point 7.5% spread 0%
High-cap Multi-Index Monthly Average 20.00% 1% 6.99%
High-cap S&P 500® Annual Point-to-Point 12.50% 1%

 

Transition Guidelines

On November 7, 2020, Nationwide will update our IUL and Survivorship IUL products. Any application received on
or after November 7, 2020 will be considered an application for the updated products listed below. Please use these
guidelines during this transition.

Old Products New Products
Nationwide IUL Accumulator II Nationwide IUL Accumulator II 2020
Nationwide IUL Protector II Nationwide IUL Protector II 2020
Nationwide Survivorship IUL Nationwide Survivorship IUL 2020

Important Dates

Application Signed Date
November 6, 2020

Old products: Applications for an old product must be signed on or before November 6, 2020 to be eligible for the product

New products: Applications signed on or after November 7, 2020 will be considered an application for a new product

Application Received Date
November 6, 2020

Old products: Applications for an old product must be received in the Home Office on or before November 6, 2020 to be eligible for the product

New products: Applications received on or after November 7, 2020 will be considered an application for a new product regardless of the application signed date

Funding Deadline
January 29, 2021
Old products: In addition to the above deadlines, the policy must also be in force and funded by January 29, 2021

1035 Exchanges
For policies funded by 1035 money in any state, the In-Good-Order (IGO) 1035 paperwork must come with the application with the same date restrictions above. The 1035 requests then will be sent to the relinquishing carrier by Nationwide and tracked following standard procedures. These cases will have an extended funding deadline of March 29, 2021.

Reopening applications for the old products
Closed applications reopened on or after November 7, 2020 will be considered an application for the new product. This applies to applications closed due to outstanding underwriting requirements or otherwise “not taken” and regardless of the original application signed date.

Backdating to save age
Both the old and new products can be backdated to save age. Applications for older products that are received before the deadline, can be current dated.

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604 Harper Avenue, Jenkintown, PA 19046 | P: 800.543.5555 / 215.517.4080 | F: 800.343.0804 / 215.517.4087

Miami Office:
3470 NW 82nd Avenue, Suite #670, Doral, FL 33122 | P: 800.683.3077 / 305.908.6700 | F: 800.343.0804

Securities offered through The Leaders Group, Inc. Member FINRA/SIPC 26 W. Dry Creek Circle, Suite 800, Littleton, CO 80120, 303-797-9080.

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