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Nationwide Life Insurance Review


ConsumersAdvocate.org Rating: 4.5 / 5 (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.
 
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How is Nationwide rated?

Breakdown

4.5/5
Company Stability
4.5/5
Reputation
4.5/5
Policies & Coverage

Overall Rating: 4.5 / 5 (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.

Financial Strength

Key Details

Underwriter
Nationwide Life Insurance Company
Marketshare
0.54%
Premiums Written 2019
$684,854,814
Standard & Poor's Financial Rating
A+
Moody's Financial Rating
A1
AM Best Financial Rating
A+

Company Stability - 4.5 / 5

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 market share, premiums, and financial strength of the issuer of the Nationwide life insurance policies: Nationwide Life Insurance Company.

Reputation & Customer Experience

National Association of Insurance Commissioners

NAIC Complaint Ratio 2017
0.16
NAIC Total Complaints 2017
7
*The NAIC complaint ratio (in this case 0.16) is a ratio of the number of complaints a company received for the 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.

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

Reputation - 4.5 / 5

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 NAIC. 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.

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 & Coverage - 4.5 / 5

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 and Available Riders

Available Term Life Riders

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

Flexibility & Available Riders - 0 / 5

Additional Company Information

Homepage URL
https://www.nationwide.com/life-insurance.jsp
Company Phone
(800) 321-6064
Headquarters Address
1 Nationwide Plaza, Columbus, OH, 43215
Year Founded
1926

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Customer Comments & Reviews

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J
JoeVitale
8/22/2019
This company is criminal, we had 6 Buy -Sell agreement policies thru a company that Nationwide purchased ,when purchased the rid them selves of previous agents and have Neglected the customer.These policies probably have been paid in premiums over 500,000 and when you call you get some kid who knows zero about his joe and want to just apologize for the lack of service that may have been received. Those agents who sell policies get all their money up front as to commissions and could care Less if these policies perform as the way they were presented. Stay away from this company they are extorionist ,customers service is not something they Consider a principle.I will continue to... Read More

Our Partner
  • Nationwide Life Essentials: Up to $1.5M Max
  • Term Life Coverage from $250k - $1.5 million
  • Policy in as little as 15 minutes, if approved
  • 10 or 20 year options

 

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