On December 3, 2018 Nationwide is introducing two new Indexed Universal Life (IUL) products,
Nationwide® IUL Accumulator II – Focused on protection with cash accumulation for income
Nationwide® IUL Protector II – Focused on protection with low-costs and a lifetime guarantee
- More choice and flexibility– Seven indexed interest strategies with upfront pricing. Select a lower cost option or one with a charge for a higher cap rate or higher multiplier.
- Up to a 65% multiplier credit – Combine our 15% and 50% multipliers for an additional 65% credit starting in policy year 6; both multipliers are guaranteed.
- More confidence builders – We include automatic monitoring to help keep clients informed and on track to get the most from their policy. Our Nationwide IUL Rewards Program® is guaranteed – and with the growing awareness of consumers surprised by rising COi rates on in force policies – you’ll be glad to know we haven’t increased ours.
The products are not available in: CA, DC, DE, FL, HI, MA, MT, NY, VI & PR (Subject to change.)
Transition Rules
Please use these Transition Guidelines as you introduce the new products to your clients.
| Old Products | New Products |
| Nationwide YourLife Indexed UL Protector | Nationwide Indexed UL Protector II |
| Nationwide YourLife Indexed UL Accumulator | Nationwide Indexed UL Accumulator II |
Please Note: Nationwide YourLife Indexed UL will remain open and will not transition at this time.
Important Dates
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 June 28, 2019.
Backdating for new products
- New policies can be backdated to save age although they may not be backdated prior to the state approval date. Please refer to your state backdating guidelines as not all states have the same backdating rules.
Underwriting Deadline
| Friday, March 1, 2019 | Reopening applications for the old products If applications for an old product have been closed – and then reopened after the Application Signed Date cutoff of March 1, 2019 – they 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. Pending Business
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