Nationwide Long Term Care Insurance Review

Rating: 8.3 / 10 (Excellent)
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Nationwide is one of the country's blue chip insurance companies. Its long term care policies operate as hybrid life- and long term care policies, with long term care coming in as an optional rider, which can vary by state. Their coverage is available for spouses, domestic partners, and adult children.

How is Nationwide rated?

Breakdown

8/10
Claims & Benefits
8/10
Policies & Coverage
9/10
Financial Strength
8/10
Reputation

Overall Rating: 8.3 / 10 (Excellent)

Nationwide is a solid insurance company, with a good reputation and excellent financials. It provides long term care insurance as part of a hybrid policy that combines features of life insurance and long term care coverage. While these policies themselves offer consumers some flexibility in terms of how they want to deploy their insurance benefits, Nationwide does not offer consumers the option of a stand-alone long term care policy. Hybrid policies can be very beneficial to people who want them, but they are complex policies that require careful understanding.

Policies & Coverage

Policies & Coverage - 8 / 10

Nationwide offers several long term care insurance options that function as riders or modifications to life insurance policies, including term, whole, variable, and universal. They are complex instruments that should be reviewed carefully by an estate planning specialist and a financial planner.
Policy Types
Hybrid Life and Long Term Care
Types of Covered Care
In-Home Care
Assisted Living / Adult Day Care
Nursing Home
Hospice Care
Medical Help Systems
Facility Coverage
Any Facility
Available Policy Riders
Nonforfeiture
Available Discounts
Partner / Household
Multi-Policy

Claims & Benefits

Claims & Benefits - 8 / 10

The claims and benefits procedures of hybrid long term care and life insurance policies differ somewhat from those of standard long term care policies. Under the company's Care Matters policy, for example, payments may be made to non-credentialed home health aides, such as family members. Invoices and proof of payment are not required.

Financial Strength & Ratings

Financial Strength - 9 / 10

Nationwide is a well established, conservatively managed insurance company that enjoys excellent financial strength ratings across the board. Their average score with financial ratings institutions is good to excellent, and they underwrite their own policies in-house.
Underwriter
Nationwide Life Insurance Co.
Moody's Financial Rating
A1
AM Best Financial Rating
A+
Standard & Poor's Financial Rating
A+
*The above information reflects the financial strength of the underwriter of the Nationwide long term care insurance policies: Nationwide Life Insurance Co..
*The above information reflects the financials strength of one of the partner long term care insurance companies that this marketplace offers policies through: Nationwide Life Insurance Co..

Nationwide Reputation

Reputation - 8 / 10

Nationwide is rated A+ by the BBB. In typical fashion for insurance companies, its negative reviews far outnumber its positive ones, though the absolute number of negative reviews is still quite low given the company's size. It has no presence on Trust Pilot.
BBB Rating
A+
Number of BBB Positive Reviews
3
Number of BBB Neutral Reviews
2
Number of BBB Negative Reviews
94
Date Collected
2018-01-03

Contact & Additional Information

Company Type
Underwriter
Year Founded
1926
Homepage URL
Company Phone
(866) 207-9160
Headquarters Address
One Nationwide Plaza, Columbus, OH, 43215
Mailing Address
One Nationwide Plaza, Columbus, OH, 43215

Top Rated
Our Partner
9.8 / 10
  • Rated A+ by the BBB
  • Monthly cash benefits for spousal home care
  • Nationwide network of agents
  • Affiliated with top long term care carriers
  • Applicants between the ages of 30 and 79 will be considered for coverage.
  • Choose between multiple long term care insurance policies