Nationwide Life Insurance Review

Rating: 9.5 / 10 (Excellent)
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Based in Ohio, Nationwide is one of the top 20 largest life insurance carriers in the nation, as well as a provider of auto, homeowners, and small business insurance. Nationwide is a Fortune 100 company with unparalleled financial stability and claims paying ability. They offer all types of life insurance and feature a wealth of online planning tools so customers can construct the appropriate policy.

How is Nationwide rated?

Breakdown

10/10
Financial Strength
10/10
Customer Experience
9/10
Policies
9/10
Flexibility

Overall Rating: 9.5 / 10 (Excellent)

Along with life insurance, Nationwide provides several different types of other insurance products including auto and homeowners. This gives consumers the option to bundle coverage, often for a discount. The company offers a very flexible line of life insurance policies, and a good set of online tools including insurance calculators and a learning center. Nationwide scores highest for reputation, though. The company is consistently highly reviewed and was was ranked number 2 in JD Power's exhaustive Life Insurance Customer Survey.

Financial Strength

Key Details

Underwriter
Nationwide Life Insurance Company
Marketshare 2016
0.96%
Premiums Written 2016
$1,151,749,381
Standard & Poor's Financial Rating
A+
Moody's Financial Rating
A1
AM Best Financial Rating
A+

Financial Strength - 9.5 / 10

Nationwide is one of the top 20 largest life insurance providers in the nation. They also are well positioned in other markets such as home and car insurance, enabling policyholders to combine coverages at a discount. The company has superior ratings from S&P, Moody's, and AM Best, ensuring a stable outlook for the foreseeable future.
*The above information reflects the financial strength of the underwriter of the Nationwide life insurance policies: Nationwide Life Insurance Company.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAICS Complaint Ratio 2016
0.01
NAICS Total Complaints 2016
1
*The NAICS complaint ratio (in this case 0.01) is a ratio of the number of complaints a company received to the its total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

J.D. Power 2016 Life Insurance Study

JD Power Overall Customer Satisfaction Score
4 out of 5 (Better Than Most)
Annual Statement & Billing
4 out of 5 (Better Than Most)
Price
4 out of 5 (Better Than Most)
Policy Offerings
4 out of 5 (Better Than Most)
Interaction
4 out of 5 (Better Than Most)

Customer Ratings

BBB Rating
A+
Number of BBB Positive Reviews
2
Number of BBB Neutral Reviews
3
Number of BBB Negative Reviews
94
Date Collected
2017-08-29

Customer Experience - 10 / 10

Nationwide life insurance really shines when it comes to customer satisfaction. The company is way below the median score when it comes to complaints from the NAICS. Additionally, Nationwide was second only to State Farm in JD Power's 2016 life insurance customer survey, scoring better than most across all categories. Nationwide is also graded A+ by the BBB.

Nationwide Policies

Nationwide offers customers the following life insurance policies: Term, Whole Life, Universal Life, Variable Universal Life, Indexed Universal Life, Survivorship Life. Because we feel that Term Life insurance is a superior choice for most customers, we've focused our review on the Nationwide Term Life policy.

Term Life Insurance

Maximum Age
95
Available Terms
10 year
15 year
20 year
30 year

Key Term Policy Features

  • Term-Permanent Conversions
  • Guaranteed Level Premiums
  • Guaranteed Renewability
  • Waiver of Premium
  • Accelerated Death Benefit
  • Return of Premium

Policies - 9 / 10

Nationwide offers a full schedule of life insurance products, including term, whole, and all permutations of universal. Also, they have a larger set of policy features when compared to similar carriers, enabling customers a high degree of flexibility when tailoring their plans. Term lengths are standard for these types of policies.

Flexibility & Available Riders

Available Riders

  • Critical Illness Rider
  • Child Protection Rider
  • Spouse Protection Rider
  • Long-Term Care Rider
  • Accidental Death Benefit

Flexibility - 9 / 10

When you combine Nationwide's varied policy types, i.e. term, universal, whole, with its extensive list of rider options, you get an enormous degree of flexibility when compared with other life insurance carriers. Critical illness and spouse protection riders are especially attractive features.

Additional Company Information

Homepage URL
Company Phone
(800) 321-6064
Headquarters Address
1 Nationwide Plaza, Columbus, OH, 43215
Year Founded
1926

Top Rated
Our Partner
9.6 / 10
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Nationwide Life Insurance