Accumulation Unit – An accounting unit of measure of an investment in, or share of, a Sub-Account. Accumulation Unit values are initially set at $10 for each Sub-Account. |
Additional Term Insurance Rider Specified Amount – The portion of the Total Specified Amount attributable to the Additional Term Insurance Rider. |
Attained Age – A person's Issue Age plus the number of full years since the Policy Date. |
Base Policy Specified Amount – The amount of insurance coverage selected under the base policy, excluding any Rider Specified Amount. |
Cash Surrender Value – The Cash Value minus Indebtedness and any surrender charge. |
Cash Value – The total amount allocated to the Sub-Accounts, the policy loan account, and the general account options. |
CI Accelerated Death Benefit Payment – The actual net benefit amount Nationwide will pay if the requirements of the Accelerated Death Benefit for Chronic Illness Rider are met. It is equal to a CI Unadjusted Accelerated Death Benefit Payment reduced by applicable charges and adjustments. |
CI Eligible Specified Amount – The Base Policy Specified Amount in effect on each respective chronic illness benefit payment date, excluding any Additional Term Insurance Rider Specified Amount and accidental death benefits , after: 1) the death benefit option has been changed to Death Benefit Option 1 (level), if applicable, on the first chronic illness benefit payment date; 2) subtracting any reductions to the Base Policy Specified Amount for benefit payments from any other Riders that accelerate the Death Benefit on the same date and any portion of the Base Policy’s Specified Amount scheduled to terminate in twelve months or less; and 3) adding the dollar amount of any reductions to the Base Policy’s Specified Amount resulting from the payment of all prior CI Accelerated Death Benefit Payments. |
CI Proportional Reduction Percentage – The dollar amount of the Base Policy Specified Amount after reduction on a chronic illness benefit payment date divided by the dollar amount of the Base Policy Specified Amount immediately prior to reduction on a chronic illness benefit payment date. |
CI Unadjusted Accelerated Death Benefit Payment Amount – A dollar amount elected by the Policy Owner, subject to the CI Eligible Specified Amount and the limitations described in the Accelerated Death Benefit for Chronic Illness Rider, used to calculate CI Accelerated Death Benefit Payments and associated Base Policy Specified Amount reductions. The minimum and maximum CI Unadjusted Accelerated Death Benefit Payment available on a benefit payment date is described in the Rider and Policy Specification Pages. |
Code – The Internal Revenue Code of 1986, as amended. |
– is an amount used in the calculation of the Percent of Premium Charge and total compensation Nationwide pays. Commissionable Target Premium is actuarially derived based on the Base Policy Specified Amount, the Insured's characteristics and the death benefit option of the policy. |
CRI Accelerated Death Benefit Payment – The actual net benefit amount Nationwide will pay if the requirements of the Accelerated Death Benefit for Critical Illness Rider are met. It is equal to a CRI Unadjusted Accelerated Death Benefit Payment Amount reduced by applicable charges and adjustments. |
CRI Eligible Specified Amount – The Base Policy Specified Amount in effect on each respective critical illness benefit payment date, excluding any Additional Term Insurance Rider Specified Amount and accidental death benefits , after: 1) the death benefit option has been changed to Death Benefit Option 1 (level) on the first critical illness benefit payment date, if applicable; 2) subtracting any reductions to the Base Policy Specified Amount for benefit payments from the Accelerated Death Benefit for Terminal Illness Rider on the same date, the total of any benefit payments from the Long-Term Care Rider II, and any portion of the Base Policy’s Specified Amount scheduled to terminate in twelve months or less; and 3) adding the dollar amount of any reductions to the Base Policy’s Specified Amount resulting from the payment of all prior CRI Accelerated Death Benefit Payments. |
CRI Proportional Reduction Percentage – The dollar amount of the Base Policy Specified Amount after reduction on a critical illness benefit payment date divided by the dollar amount of the Base Policy Specified Amount immediately prior to reduction on a critical illness benefit payment date. |
CRI Unadjusted Accelerated Death Benefit Payment Amount – A dollar amount elected by the Policy Owner, subject to the CRI Eligible Specified Amount and the limitations described in the Accelerated Death Benefit for Critical Illness Rider, used to calculate CRI Accelerated Death Benefit Payments and associated Base Policy Specified Amount reductions. The minimum and maximum CRI Unadjusted Accelerated Death Benefit Payment available on a benefit payment date is described in the Rider and Policy Specification Pages. |
Death Benefit – The amount paid upon the Insured's death, before the deduction of any Indebtedness, reduction for any long-term care benefits paid, adjustments or reductions under the Long-Term Care Rider II, or due and unpaid policy charges. |
Death Benefit Guarantee Period – The length of time during which the Guaranteed Policy Continuation Provision is available. |
Directed Monthly Deductions – A Policy Owner’s election to have deductions for monthly policy charges, including Rider charges, deducted from a single Sub-Account or the Fixed Account. If the selected investment option’s value is insufficient to cover the full monthly deduction, the remainder of the monthly deduction will be deducted as described in How Monthly Charges are Deducted. The Long-Term Fixed Account, indexed interest strategies, and amounts allocated to Enhanced Dollar Cost Averaging programs are not available for Directed Monthly Deduction election. |
Extended No-Lapse Guarantee Value – A reference value used only for determining whether the requirements of the Extended No-Lapse Guarantee Rider are met. |
Fixed Account – An investment option that is funded by Nationwide's general account. |
Grace Period – A 61-day period after which the Policy will Lapse if sufficient payments are not made to prevent Lapse. |
In Force – Any time during which benefits are payable under the policy and any elected Rider(s). |
Indebtedness – The total amount of all outstanding policy loans, including principal and interest due. |
Index Segment(s) – A division of an indexed interest strategy created by the allocation of Net Premium and/or allocation or transfer of Cash Value to an indexed interest strategy on a Sweep Date. |
Index Segment Maturity Date – The scheduled end date of an Index Segment term. |
Index Segment Maturity Value - The Cash Value of an Index Segment on its Index Segment Maturity Date, including any Index Segment Interest credited. |
Insured – The person whose life is insured under the policy, and whose death triggers payment of the Death Benefit. |
Investment Experience – The market performance of a mutual fund/Sub-Account. |
Investment in the Contract – The amount that may be withdrawn from the policy tax free as defined in Section 72(e)(6) of the Code, see Taxes. |
Issue Age – A person's age based on their birthday nearest the Policy Date. If their last birthday was more than 182 days prior to the Policy Date, their nearest birthday will be their next birthday. |
Lapse – The policy terminates without value. |
Long-Term Care Specified Amount – The elected Long-Term Care Rider benefit amount adjusted for any post issue increases and decreases. |
Long-Term Fixed Account – An investment option that is funded by Nationwide’s general account. |
Maturity Date – The policy anniversary on which the Insured reaches Attained Age120. |
Minimum Required Death Benefit – The lowest Death Benefit that will qualify the policy as life insurance under the Code. |
– Dollar amounts used to calculate the Premium that must be paid to meet the requirements of the Guaranteed Policy Continuation Provision. |
Nationwide – Nationwide Life and Annuity Insurance Company. |
Net Amount At Risk – The base policy's Death Benefit minus the policy's Cash Value. |
Net Asset Value (NAV) – The price of each share of a mutual fund in which a Sub-Account invests. NAV is calculated by subtracting the mutual fund's liabilities from its total assets, and dividing that figure by the number of shares outstanding. Nationwide uses NAV to calculate the value of Accumulation Units. NAV does not reflect deductions made for charges taken from the Sub-Accounts. |
– Premium after transaction charges, but before any allocation to an investment option. |
Pending Sweep Transaction – Cash Value being held in the Fixed Account, including attributable accrued interest, pending application to an indexed interest strategy on the next applicable Sweep Date. |
Policy Date – The date the policy takes effect as shown in the Policy Specification Pages. Policy years, months, and anniversaries are measured from this date. |
Policy Monthaversary – The same day of the month as the Policy Date for each succeeding month. In any month where such day does not exist (e.g. 29th, 30th, or 31st), the Policy Monthaversary will be the last day of that calendar month. |
Policy Owner – The person or entity named as the owner on the application, or the person or entity assigned ownership rights. |
Policy Proceeds or Proceeds – Policy Proceeds may constitute the Death Benefit, or the amount payable if the policy matures or is surrendered, adjusted to account for any unpaid charges, Indebtedness and Rider benefits. |
Policy Specification Page(s) – The Policy Specification Page(s) are issued as part of the policy and contain information specific to the policy and the Insured, including coverage and Rider elections. Updated Policy Specification Page(s) will be issued if the Policy Owner makes any changes to coverage elections after the policy is issued. |
– Amount(s) paid to purchase and maintain the policy. |
– The aggregate of the sales load and premium tax charges. |
– The benefit received under the Premium Waiver Rider. The benefit takes the form of a monthly credit to the policy upon the Insured's total disability for six consecutive months not caused by a risk not assumed. The amount credited to the policy is the lesser of the Premium specified by the Policy Owner or the average actual monthly Premiums paid over the last 36 months prior to the disability (or such shorter period of time that the policy has been In Force). |
– Any return of Premium due to Code Section 7702 or 7702A. |
Rider – An optional benefit purchased under the policy. Rider availability and Rider terms may vary depending on the state in which the policy was issued. |
Rider Specified Amount – The elected dollar amount of coverage for Children’s Term Insurance Rider, Long-Term Care Rider II, Long-Term Care Rider, Spouse Life Insurance Rider, Accidental Death Benefit Rider, or Additional Term Insurance Rider. |
SEC – Securities and Exchange Commission. |
Service Center – The department of Nationwide responsible for receiving all service and transaction requests relating to the policy. For service and transaction requests submitted other than by telephone (including fax requests), the Service Center is Nationwide's mail and document processing facility. For service and transaction requests communicated by telephone, the Service Center is Nationwide's operations processing facility. Information on how to contact the Service Center is in the Contacting the Service Center provision. |
Sub-Account(s) – The mechanism used to account for allocations of Net Premium and Cash Value among the policy's variable investment options. |
Substandard Rating – An underwriting classification based on medical and/or non-medical factors used to determine what to charge for life insurance based on characteristics of the Insured beyond traditional factors for standard risks, which include age, sex, and tobacco habits of the Insured. Substandard Ratings are shown in the Policy Specification Pages as rate class multiples (medical factors) and/or monthly flat extras (medical and/or non-medical factors). The higher the rate class multiple or monthly flat extra, the greater the risk assessed and the higher the cost of coverage. |
Sweep Date(s) – The dates on which allocated Net Premium and/or transferred Cash Value are applied to an indexed interest strategy to create a new Index Segment. |
TI Accelerated Death Benefit Payment – The actual benefit amount that will be paid under the Accelerated Death Benefit for Terminal Illness Rider if the eligibility and conditions for payment are met. The benefit amount paid is reduced for risk deductions and adjustments for premature payment of the Base Policy Specified Amount. |
TI Unadjusted Accelerated Death Benefit Payment – An amount equal to the percentage of the Base Policy Specified Amount elected multiplied by the Base Policy Specified Amount, when a payment is requested under the Accelerated Death Benefit for Terminal Illness Rider. Policy Owners do not receive the unadjusted amount because it does not include risk charges and adjustments made due to the premature payment of a portion of the Base Policy Specified Amount. |
Total Specified Amount – The sum of the Base Policy Specified Amount and the Additional Term Insurance Rider Specified Amount, if applicable. |
Valuation Period – The period during which Nationwide determines the change in the value of the Sub-Accounts. One Valuation Period ends and another begins as of the close of regular trading on the New York Stock Exchange. |
Variable Account – Nationwide VL Separate Account-G, a separate account that Nationwide established to hold Policy Owner assets allocated to variable investment options. The Variable Account is divided into Sub-Accounts, each of which invests in a separate underlying mutual fund. |
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FEES AND EXPENSES |
Charges for Early Withdrawals |
Surrender Charge – For up to Policy Specified Amount increase, a surrender charge is deducted if the policy is surrendered, Lapses, or there is a requested decrease of the Base Policy Specified Amount (see Surrender Charge). This charge will vary based upon the individual characteristics of the Insured. The maximum surrender charge is $45.29 per $1,000 of Base Policy Specified Amount, or example, for a policy with a $100,000 Base Policy Specified Amount, a complete surrender could result in a surrender charge of $ Partial Surrender Fee – Deducted from the partial surrender amount requested (see Partial Surrender Fee). Currently, Nationwide waives the Partial Surrender Fee. Nationwide may elect in the future to assess a Partial Surrender Fee. The Partial Surrender Fee assessed to each surrender will not exceed the lesser of $25 or 5% of the amount surrendered. |
Transaction Charges |
The Policy Owner may also be charged for other transactions as follows: • Percent of Premium Charge – Deducted from each Premium payment applied to a policy. • Capped Indexed Interest Strategy Charge – Assessed upon creation of an Index Segment in an Indexed Interest Strategy with a cap rate. • Service Fee – Upon requesting an illustration, policy loan, or copies of transaction confirmations and statements. • Rider Charges – One time rider charges for certain benefits, deducted upon invoking the rider. See Standard Policy Charges and Policy Riders and Rider Charges. |
Ongoing Fees and Expenses (periodic charges) |
In addition to surrender charges and transaction charges, an investment in the policy is subject to certain ongoing fees and expenses, including fees and expenses covering the cost of insurance under the policy and the cost of optional benefits available under the policy, and such fees and expenses are set based on characteristics of the Insured (e.g., age, sex, and rating classification), see Standard Policy Charges and Policy Riders and Rider Charges. Please refer to the Policy Specification Pages of your policy for rates applicable to the policy. | ||
A Policy Owner will also bear expenses associated with the underlying mutual funds under the policy, as shown in the following table: | |||
Annual Fee |
Minimum |
Maximum | |
Investment options (underlying mutual fund fees and expenses) |
|
| |
|
1 |
RISKS | |
Risk of Loss |
|
Not a Short-Term Investment |
|
Risks Associated with Investment Options |
|
RISKS |
Insurance Company Risks |
|
Policy Lapse |
|
RESTRICTIONS | |
Investments |
|
Optional Benefits |
|
TAXES | |
Tax Implications |
|
CONFLICTS OF INTEREST | |
Investment Professional Compensation |
|
Exchanges |
|
Transaction Fees | |||
Charge |
When Charge is Deducted |
Amount Deducted | |
|
|
Maximum: |
Currently: |
|
|
Maximum: applied to create an Index Segment |
Currently: applied to create an Index Segment |
|
|
Maximum: $ |
Currently: $ |
|
|
Maximum: lesser of $ the amount surrendered from the policy's Cash Value |
Currently: $ |
|
|
Maximum: $ Base Policy Specified Amount |
Minimum: $ Policy Specified Amount |
Representative: an Issue Age 35 male preferred non-tobacco with a Base Policy Specified Amount and Total Specified Amount of $500,000; Death Benefit Option 1; and a complete surrender of the policy in the first year |
Upon surrender, policy Lapse, and certain Base Policy Specified Amount decreases |
$17.93 per $1,000 of Base Policy Specified Amount from the policy's Cash Value |
|
|
Maximum: $ Cash Value |
Minimum: $ Value |
Representative: an Attained Age 85 Insured with a Cash Value of $500,000, assuming the guideline premium/cash value corridor life insurance qualification test is elected |
Upon invoking the Rider |
$32 per $1,000 of Cash Value |
|
|
Maximum: $ Cash Value |
Minimum: $ Value |
Representative: an Attained Age 85 Insured with a Cash Value of $500,000 |
Upon invoking the Rider |
$32 per $1,000 of Cash Value |
Transaction Fees | |||
Charge |
When Charge is Deducted |
Amount Deducted | |
|
| ||
TI Administrative Charge |
|
Maximum: $ |
Currently: $ |
Rider Charge |
|
Maximum: $ Unadjusted Accelerated Death Benefit Payment |
Minimum: $ Unadjusted Accelerated Death Benefit Payment |
Representative: an Insured of any age or sex, an assumed life expectancy of 1 year, an assumed interest rate of 5% and a risk charge of 5%. |
Upon invoking the Rider |
$100 per $1,000 of TI Unadjusted Accelerated Death Benefit Payment |
|
| ||
CI Administrative Charge |
|
Maximum: $ |
Currently: $ |
|
| ||
CRI Administrative Charge |
|
Maximum: $ |
Currently: $ |
Periodic Charges Other than Annual Underlying Mutual Fund Expenses | |||
Base Contract Charges | |||
Charge |
When Charge is Deducted |
Amount Deducted | |
|
|
Maximum: $ Amount At Risk |
Minimum: $ Amount At Risk |
Base Contract Charges |
Representative: an Issue Age 35, in the first policy year, male preferred non- tobacco with a Base Policy Specified Amount and Total Specified Amount of $500,000 and Death Benefit Option 1 |
Monthly |
$0.01 per $1,000 of Net Amount At Risk |
|
|
Maximum: $ Extra assessed | |
|
|
Maximum: allocated to the Sub- Accounts |
Currently: allocated to the Sub- Accounts |
|
|
Maximum: $ |
Currently: $ |
|
|
Maximum: $ Base Policy Specified Amount |
Minimum: $ Policy Specified Amount |
Representative: an Issue Age of 35, in the first policy year, male preferred non- tobacco with a Base Policy Specified Amount of $500,000, and Death Benefit Option 1 |
Monthly |
$0.17 per $1,000 of Base Policy Specified Amount |
|
|
Maximum: |
Currently: |
Optional Benefit Charges | |||
Charge |
When Charge is Deducted |
Amount Deducted | |
|
|
Maximum: $ Children’s Term Insurance Rider Specified Amount |
Currently: $ Children’s Term Insurance Rider Specified Amount |
|
|
Maximum: $ -Term Care Rider Specified Amount |
Minimum: $ Long-Term Care Rider Specified Amount |
Representative: an Issue Age 35 male single preferred non-tobacco with an elected benefit percentage of 4% |
Monthly |
$0.08 per $1,000 of Long-Term Care Rider Specified Amount |
|
|
Maximum: $ Long-Term Care Rider Net Amount At Risk |
Minimum: $ Long-Term Care Rider Net Amount At Risk |
Representative: an Attained Age 35 male preferred non-tobacco |
Monthly |
$0.02 per $1,000 of Long-Term Care Rider Net Amount At Risk |
Optional Benefit Charges | |||
The Spouse Life Insurance Rider is only available for policies with applications signed prior to |
|
Maximum: $ Spouse Life Insurance Rider Specified Amount |
Minimum: $ Spouse Life Insurance Rider Specified Amount |
Representative Spouse: an Attained Age 35 female non- tobacco with a Spouse Life Insurance Rider Specified Amount of $100,000 |
Monthly |
$0.11 per $1,000 of Spouse Life Insurance Rider Specified Amount |
|
|
Maximum: $ Accidental Death Benefit Rider Specified Amount |
Minimum: $ Accidental Death Benefit Rider Specified Amount |
Representative: an Attained Age 35 male preferred non- tobacco with an Accidental Death Benefit Rider Specified Amount of $100,000 |
Monthly |
$0.06 per $1,000 of Accidental Death Benefit Rider Specified Amount |
|
|
Maximum: $ Waiver of Monthly Deduction Benefit |
Minimum: $ of Monthly Deduction Benefit |
Representative: an Attained Age 35 male preferred non-tobacco with a Total Specified Amount of $500,000 and Death Benefit Option 1 |
Monthly |
$85 per $1,000 of Waiver of Monthly Deduction Benefit |
|
|
Maximum: $ Premium Specified by the Policy Owner |
Minimum: $ Premium Specified by the Policy Owner |
Representative: an Attained Age 35 male preferred non-tobacco |
Monthly |
$42 per $1,000 of Premium Waiver Benefit |
|
|
Maximum: guaranteed maximum cost of insurance charge for the policy, and Additional Term Insurance Rider if elected, plus the guaranteed maximum charges for all other In Force Riders |
Minimum: current cost of insurance charge for the policy, and Additional Term Insurance Rider if elected, plus the current charges for all other In Force Riders |
Representative: an Issue Age 35 male in the first policy year preferred non-tobacco with a Total Specified Amount of $500,000, Death Benefit Option 1, a maximum Attained Age election of 90, and no other Riders are attached to the policy. |
Monthly |
44.50% of the sum of the current cost of insurance charge for the policy, and Additional Term Insurance Rider if elected, plus the current charges for all other In Force Riders |
Optional Benefit Charges | |||
Additional Term Insurance Rider Charges † The Additional Term Insurance Rider is only available for policies with applications signed prior to |
| ||
|
|
Maximum: $ Additional Term Insurance Rider Death Benefit |
Minimum: $ Additional Term Insurance Rider Death Benefit |
Representative an Issue Age 35 male, in the first policy year; preferred non-tobacco with an Additional Term Insurance Rider Specified Amount of $250,000 and a Total Specified Amount of $500,000 |
Monthly |
$0.01 per $1,000 of Additional Term Insurance Rider Death Benefit |
|
|
Maximum: $ Additional Term Insurance Rider Specified Amount |
Minimum: $ Additional Term Insurance Rider Specified Amount |
Representative: an Issue Age of 35, in the first policy year, male preferred non- tobacco with an Additional Term Insurance Rider Specified Amount of $250,000 and a Total Specified Amount of $500,000, and Death Benefit Option 1 |
Monthly |
$0.19 per $1,000 of Additional Term Insurance Rider Specified Amount |
Annual Underlying Mutual Fund Expenses | ||
|
Minimum |
Maximum |
|
|
|
Nationwide believes that the indexed interest options are in substantial compliance with the conditions set forth in Section 989J(a) (1) – (3) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and, therefore, qualify for an exemption from registration under the federal securities laws. As Nationwide general account options, the values of the indexed interest options do not vary according to the performance of a separate account. In addition, the products in which the indexed interest options are offered satisfy standard non- forfeiture laws applicable to life insurance. Accordingly, Nationwide believes it has a reasonable basis for concluding that the indexed interest options provide sufficient guarantees of principal and interest through Nationwide’s General Account to qualify for the exclusion from the Securities Act of 1933 provided by Section 3(a)(8). |
Hypothetical Reference Index Performance |
One Year S&P 500® Point-to-Point Indexed Interest Strategy Cap Rate: 10% Participation Rate: 100% Floor Rate: 1.00% |
One Year Uncapped S&P 500® Point-to-Point Indexed Interest Strategy Spread Rate: 4.50% Participation Rate: 100% Floor Rate: 0.25% |
-4% |
1% |
0.25% |
6% |
6% |
1.50% |
8% |
8% |
3.50% |
15% |
10% |
10.50% |
32% |
10% |
27.5% |
Based on the assumptions shown, performs best when reference index increases approximately: |
0% to 14.50% |
14.50% and up |
Trading Behavior |
Nationwide's Response |
Six or more transfer events within one calendar quarter |
Nationwide will mail a letter to the Policy Owner notifying them that: (1)they have been identified as engaging in harmful trading practices; and (2)if their transfer events total 11 within two consecutive calendar quarters or 20 within one calendar year, the Policy Owner will be limited to submitting transfer requests via U.S. mail. |
11 transfer events within two consecutive calendar quarters OR 20 transfer events within one calendar year |
Nationwide will automatically limit the Policy Owner to submitting transfer requests via U.S. mail. |
Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
|
|
|
|
|
|
|
|
|
|
|
|
Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Policy year calculated from the Policy Date or effective date of Base Policy Specified Amount Increase*: |
Surrender Charge, as a percentage of the initial Surrender Charge by Issue Age | |||||
|
0-65 |
66 |
67 |
68 |
69 |
70+ |
|
|
|
|
|
|
|
1 |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
2 |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
3 |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
4 |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
87.50% |
5 |
91.67% |
91.00% |
90.00% |
87.50% |
84.99% |
75.00% |
6 |
83.33% |
82.00% |
80.00% |
75.00% |
69.98% |
62.50% |
7 |
75.00% |
73.00% |
70.00% |
65.00% |
59.99% |
50.00% |
8 |
66.67% |
64.00% |
60.00% |
55.00% |
47.48% |
37.50% |
|
| |||||
Policy year calculated from the Policy Date or effective date of Base Policy Specified Amount Increase*: |
Surrender Charge, as a percentage of the initial Surrender Charge by Issue Age | |||||
|
0-65 |
66 |
67 |
68 |
69 |
70+ |
9 |
58.33% |
55.00% |
50.00% |
45.00% |
34.99% |
25.00% |
10 |
50.00% |
46.00% |
40.00% |
35.00% |
25.00% |
12.50% |
11 |
41.67% |
37.00% |
32.50% |
25.00% |
12.50% |
0.00% |
12 |
33.33% |
28.00% |
25.00% |
15.00% |
0.00% |
0.00% |
13 |
25.00% |
19.00% |
12.50% |
0.00% |
0.00% |
0.00% |
14 |
16.67% |
10.50% |
0.00% |
0.00% |
0.00% |
0.00% |
15 |
8.33% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
16+ |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Example: |
Assume the policy is currently In Force and the following: |
• The policy was issued with the cash value accumulation life insurance qualification test |
• Insured’s Attained Age is 77 |
• Policy is in its 23rd policy year |
• Death Benefit Option 2 |
• Total Specified Amount: $500,000 |
• Indebtedness: $195,000 |
• Long-term care benefits paid: $120,000 |
• Cash Value: $375,000 |
• Applicable age-based factor for determining rider charge: 14.7% |
Using the above assumptions, a decision to invoke the Rider would impact the policy as follows: |
(1) The death benefit option will be changed from Death Benefit Option 2 to Death Benefit Option 1. |
(2) The one-time charge for invoking the Rider will be $55,125 ($375,000 x 14.7%) and will be deducted from the Cash Value, reducing the Cash Value to $319,875 ($375,000 - $55,125) |
(3) The non-loaned Cash Value $124,875 ($319,875 - $195,000) will be transferred to the Fixed Account where it will earn at least the minimum guaranteed fixed interest rate. |
(4) The policy loan account ($195,000) will continue to earn interest at the policy's loan crediting rate. |
(5) The Indebtedness ($195,000) will continue to grow at the policy’s loan interest charged rate. |
(6) After this Rider is invoked, no other changes to the policy can be made. |
Example: |
Assume a policy is currently In Force and the following: |
• Insured’s Attained Age is 75 |
• Policy is in its 27th policy year |
• Death Benefit Option 1 |
• Total Specified Amount: $700,000 |
• Indebtedness: $627,000 |
• Cash Value: $660,000 |
• Applicable age-based factor for determining rider charge: 4.60%* |
* Rate is subject to change based on the policy |
Using the above assumptions, a decision to invoke the Rider would impact the policy as follows: |
(1) The death benefit option will remain at Death Benefit Option 1. |
(2) The one-time charge for invoking the Rider will be $30,360 ($660,000 x 4.60%) and will be deducted from the Cash Value, reducing the Cash Value to $629,640. |
(3) The Total Specified Amount will remain at $700,000 since it is less than the Minimum Required Death Benefit of $712,611.90. |
(4) The non-loaned Cash Value $2,640 ($629,640 - $627,000 will be transferred to the Fixed Account where it will earn at least the minimum guaranteed fixed interest rate. |
(5) The policy loan account ($627,000) will continue to earn interest at the policy's loan crediting rate. |
(6) The Indebtedness ($627,000) will continue to grow at the policy's loan interest charged rate. |
(7) After this Rider is invoked, no other changes to the policy can be made. |
Example: |
Assume the Children’s Term Insurance Rider Specified Amount is $15,000 and the Insured has two children that meet the definition of insured child and the Rider is In Force. If one of the children dies, $15,000 will be paid to the named beneficiary. The rider would continue to remain in effect as long the second child meets the definition of insured child. Upon the death of the second insured child, an additional $15,000 would be paid to the named beneficiary as long as coverage under the Rider has not otherwise terminated. |
Example: |
Assume the Long-Term Care Specified Amount is $400,000 and the elected percentage is 3%. If the invocation requirements below are satisfied and the 90-day elimination period has been satisfied, the Policy Owner can choose a monthly benefit up to 3% of the Long-Term Care Specified Amount ($400,000 x 3% = $12,000). If there is no Indebtedness, this monthly benefit will be paid until either the Insured no longer meets the eligibility requirements or the entire $400,000 has been paid. If there is Indebtedness, monthly benefits will end when the accumulated benefits become greater than or equal to the Base Policy Specified Amount minus Indebtedness. |
Example: |
Assume the Long-Term Care Specified Amount is $500,000. If the invocation requirements below are satisfied and the 90-day elimination period has been satisfied, the Owner can choose a monthly benefit up to 2% of the Long-Term Care Specified Amount ($10,000). If there is no Indebtedness, this monthly benefit will be paid until either the Insured no longer meets the eligibility requirements or the entire $500,000 has been paid. If there is Indebtedness, monthly benefits will end when the accumulated benefits become greater than or equal to the Long-Term Care Specified Amount minus Indebtedness. |
Example: |
Assume wife (the Insured) purchased a policy and elected the Spouse Life Insurance Rider with a Spouse Life Insurance Rider Specified Amount of $50,000 and named husband as the Insured Spouse. Both the Insured and Insured Spouse met the age requirements for the Rider at the time of election. If Insured Spouse dies prior to reaching Attained Age 70 and the Rider has not otherwise terminated, a death benefit in the amount of $50,000 is payable to the designated beneficiary. |
ADB |
= |
[RP (SA)] – [RC + (RP x OPL) + UP + AEC] |
Where: |
| |
ADB |
= |
TI Accelerated Death Benefit Payment |
RP |
= |
Requested Percentage |
SA |
= |
Base Policy Specified Amount at the time the benefit is calculated |
RC |
= |
Rider charge |
OPL |
= |
outstanding policy loans on the date the benefit is calculated |
UP |
= |
any unpaid Premium which is the amount of any Premium that might be due or payable if the policy is in a Grace Period on the date the benefit is calculated |
AEC |
= |
Administrative Expense Charge |
Example: | ||
Assume the Base Policy Specified Amount is $100,000, the Cash Value (CV) is $42,000, and the Requested Percentage (RP) of the Base Policy Specified Amount is 50%. Also assume Indebtedness in the amount of $10,000, unpaid Premium of $500, an aggregate Rider charge of $3,500, and an Administrative Expense Charge of $250. | ||
Using the above assumptions, here is how the TI Accelerated Death Benefit (ADB) would be calculated. | ||
ADB |
= |
[50% x $100,000)] – [$3,500 + (50% x $10,000) + $500 + $250] |
ADB |
= |
[$50,000] – [$3,500 + $5,000 + $500 + $250] |
ADB |
= |
[$50,000] – [$9,250] |
ADB |
= |
$40,750 |
| ||
The reduction factor for calculating the remaining Base Policy Specified Amount and Cash Value is calculated as (1 – RP). (1 - .5) = .5 | ||
| ||
.5 x $100,000 = $50,000 the remaining Base Policy Specified Amount | ||
.5 x $42,000 = $21,000 the remaining Cash Value | ||
|
SApost |
= |
SApre – Upmt * SARF |
Where: |
|
|
SApost |
= |
Base Policy Specified Amount after payment of CI Accelerated Death Benefit Payment |
SApre |
= |
Base Policy Specified Amount prior to payment of CI Accelerated Death Benefit Payment |
UPmt |
= |
CI Unadjusted Accelerated Death Benefit Payment |
SARF |
= |
Base Policy Specified Amount reduction factor |
PRP |
= |
SApost / SApre |
Where: |
|
|
PRP |
= |
CI Proportional Reduction Percentage |
SApost |
= |
Base Policy Specified Amount after payment of CI Accelerated Death Benefit Payment |
SApre |
= |
Base Policy Specified Amount prior to payment of CI Accelerated Death Benefit Payment |
ADB |
= |
[UPmt] – [AC + (1 – PRP) x OPL + UP] |
Where: |
|
|
ADB |
= |
CI Accelerated Death Benefit Payment |
UPmt |
= |
CI Unadjusted Accelerated Death Benefit Payment |
AC |
= |
Administrative Charge |
PRP |
= |
CI Proportional Reduction Percentage |
OPL |
= |
Indebtedness on the date the benefit is calculated |
UP |
= |
any unpaid Premium which is the amount of any Premium that might be due or payable if the policy is in a Grace Period on the date the benefit is calculated |
CVpost |
= |
CVpre x PRP |
Where: |
|
|
CVpost |
= |
Cash Value after payment of CI Accelerated Death Benefit Payment |
CVpre |
= |
Cash Value prior to payment of CI Accelerated Death Benefit Payment |
PRP |
= |
CI Proportional Reduction Percentage |
Example: | ||
Assume the Base Policy Specified Amount is $500,000 and the CI Unadjusted Accelerated Death Benefit Payment is $100,000. Also assume a Cash Value of $40,000, Indebtedness in the amount of $10,000, unpaid Premium of $500 and a Rider administrative charge of $250. The Base Policy Specified Amount reduction factor in this example is 1.5. | ||
Using the above assumptions, the CI Accelerated Death Benefit Payment, the actual net benefit amount that Nationwide will pay, and reduction to the Base Policy Specified Amount and Cash Value are calculated as follows: | ||
1. Calculate the Base Policy Specified Amount after payment of the CI Accelerated Death Benefit Payment: | ||
SApost |
= |
$500,000 - $100,000 x 1.5 |
|
= |
$350,000 |
2. Calculate the CI Proportional Reduction Percentage: | ||
PRP |
= |
[($500,000 – $100,000 x 1.5) / $500,000 |
|
= |
$350,000 / $500,000 |
|
= |
0.7 |
3. Calculate the CI Accelerated Death Benefit Payment: | ||
ADB |
= |
$100,000 – [$250 + (1 – 0.7) x $10,000+ $500] |
ADB |
= |
$100,000 – [$250 + $3,000 + $500] |
ADB |
= |
$100,000 – $3,750 |
ADB |
= |
$96,250 |
4. Calculate the Cash Value after payment of the CI Accelerated Death Benefit Payment: | ||
CVpost |
= |
$40,000 x 0.7 |
|
= |
$28,000 |
SApost |
= |
SApre – Upmt * SARF |
Where: |
|
|
SApost |
= |
Base Policy Specified Amount after payment of CRI Accelerated Death Benefit Payment |
SApre |
= |
Base Policy Specified Amount prior to payment of CRI Accelerated Death Benefit Payment |
UPmt |
= |
CRI Unadjusted Accelerated Death Benefit Payment |
SARF |
= |
Base Policy Specified Amount reduction factor |
PRP |
= |
SApost / SApre |
Where: |
|
|
PRP |
= |
CRI Proportional Reduction Percentage |
SApost |
= |
Base Policy Specified Amount after payment of CRI Accelerated Death Benefit Payment |
SApre |
= |
Base Policy Specified Amount prior to payment of CRI Accelerated Death Benefit Payment |
ADB |
= |
[UPmt] – [AC + (1 – PRP) x OPL + UP] |
Where: |
|
|
ADB |
= |
CRI Accelerated Death Benefit Payment |
UPmt |
= |
CRI Unadjusted Accelerated Death Benefit Payment |
AC |
= |
Administrative Charge |
PRP |
= |
CRI Proportional Reduction Percentage |
OPL |
= |
Indebtedness on the date the benefit is calculated |
UP |
= |
any unpaid Premium which is the amount of any Premium that might be due or payable if the policy is in a Grace Period on the date the benefit is calculated |
CVpost |
= |
CVpre x PRP |
Where: |
|
|
CVpost |
= |
Cash Value after payment of CRI Accelerated Death Benefit Payment |
CVpre |
= |
Cash Value prior to payment of CRI Accelerated Death Benefit Payment |
PRP |
= |
CRI Proportional Reduction Percentage |
Example: | ||
Assume the Base Policy Specified Amount is $500,000 and the CRI Unadjusted Accelerated Death Benefit is $20,000. Also assume a Cash Value of $80,000, Indebtedness in the amount of $10,000, unpaid Premium of $500 and a Rider administrative charge of $250. The Base Policy Specified Amount reduction factor in this example is 3.5. | ||
Using the above assumptions, the CRI Accelerated Death Benefit Payment, the actual net benefit amount that Nationwide will pay, and reduction to the Base Policy Specified Amount and Cash Value are calculated as follows: | ||
1. Calculate the Base Policy Specified Amount after payment of the CRI Accelerated Death Benefit Payment | ||
SApost |
= |
$500,000 - $20,000 x 3.5 |
|
|
$430,000 |
2. Calculate the CRI Proportional Reduction Percentage: | ||
PRP |
= |
[($500,000 – $20,000 x 3.5) / $500,000 |
|
|
$430,000 / $500,000 |
|
|
0.86 |
3. Calculate the CRI Accelerated Death Benefit Payment: | ||
ADB |
= |
$20,000 – [$250 + (1 – 0.86) x $10,000+ $500] |
ADB |
= |
$20,000 – [$250 + $1,400 + $500] |
ADB |
= |
$20,000 – $2,150 |
ADB |
= |
$17,850 |
4. Calculate the Cash Value after payment of the CRI Accelerated Death Benefit Payment: | ||
CVpost |
= |
$80,000 x 0.86 |
|
|
$68,800 |
Example: |
Assume the policy is issued with a Base Policy Specified Amount of $500,000, an Accidental Death Benefit Rider Specified Amount of $100,000, and Death Benefit Option 1. If the Insured dies by accident as defined above prior to reaching Attained Age 70, the total death benefit paid to the beneficiary would be $600,000, as long as the Rider has not otherwise terminated. |
Example: |
Assume the policy is currently In Force, the Rider is not otherwise terminated, and the following: |
• The Insured has been totally disabled for six consecutive months; |
• At the time of disability, the policy was in its 8th policy year and the Insured’s Attained Age was 59; |
• The Premium Waiver Rider Specified Premium is $700; and |
• The Premiums paid over the 36 months prior to disability totaled $24,120. |
Since the average monthly Premium paid over the 36 months prior to the disability was $670 ($24,120 divided by 36), $670 will be credited to the policy’s Cash Value on each Policy Monthaversary only until the Insured reaches Attained Age 65, or until the Insured is no longer disabled, if earlier. |
Example: |
Assume the Base Policy Specified Amount is $500,000, Death Benefit Option 2, the Cash Value is $40,000 and the Additional Term Insurance Rider Specified Amount is $300,000 and coverage under the Rider is in effect and has not otherwise terminated. Upon the death of the Insured, if there is no Indebtedness and no Long-Term Care benefits have been paid, the Death Benefit Proceeds under the base policy will be $540,000 and the Additional Term Insurance Death Benefit Proceeds will be $300,000, for a total of $840,000. |
Example: |
Assume the following: |
• The Waiver of Monthly Deductions Rider is elected and the Premium Waiver Rider has not been purchased; • The Insured has been totally disabled for six consecutive months and the Insured’s disability is not a result of a risk not assumed; and • At the time of disability, the Insured’s Attained Age was 57. The policy’s monthly deductions will be waived (not deducted from the Cash Value) until the Insured is no longer disabled, or until the Waiver of Monthly Deductions Rider is terminated. |
Example: |
Assume the following: |
• the Extended No-Lapse Guarantee Rider is In Force; • the Maximum Attained Age elected at issue was 90; • the policy’s Guaranteed Policy Continuation Provision has ended; • the Extended No-Lapse Guarantee Value minus Indebtedness is greater than zero; and • the Cash Surrender Value is $300 If, on the next Policy Monthaversary, the monthly deductions are greater than $300, the policy will be kept In Force through Attained Age 89 as long as the Extended No-Lapse Guarantee Value minus Indebtedness remains greater than zero. |
Example: |
Policy Owner elects to participate in Dollar Cost Averaging and has transferred $30,000 to the Fixed Account, which will serve as the source investment option for her Dollar Cost Averaging program. She would like the Dollar Cost Averaging transfers to be allocated as follows: $1,500 to Sub-Account L and $1,000 to Sub-Account M. Each month, Nationwide will automatically transfer $2,500 from the Fixed Account and allocate $1,000 to Sub- Account M and $1,500 to Sub-Account L until the Fixed Account is depleted. |
Beginning of Month |
Fraction of Cash Value Transferred |
2 |
1/11 |
3 |
1/10 |
4 |
1/9 |
5 |
1/8 |
6 |
1/7 |
7 |
1/6 |
8 |
1/5 |
9 |
1/4 |
10 |
1/3 |
11 |
1/2 |
12 |
Remaining Amount |
Example: |
At the time of application, the Policy Owner elects to participate in Enhanced Dollar Cost Averaging and submits an initial Premium of $25,000 to be allocated to the Fixed Account, which will receive an enhanced interest crediting rate. He would like the Enhanced Dollar Cost Averaging transfers to be allocated as follows: 40% to Sub-Account L and 60% to Sub- Account M. Each month, Nationwide will automatically transfer Cash Value to the selected Sub-Accounts based on the schedule above (1/11 of the Cash Value will be transferred at the beginning of month 2; 1/10 of the Cash Value will be transferred at the beginning of month 3; etc.). |
Example: |
Policy Owner elects to participate in Asset Rebalancing and has instructed his Cash Value be allocated as follows and rebalanced on a quarterly basis: 40% to Sub-Account A, 40% to Sub-Account B, and 20% to Sub-Account C. Each quarter, Nationwide will automatically rebalance Policy Owner’s Cash Value by transferring Cash Value among the three elected Sub-Accounts so that his 40%/40%/20% allocation remains intact. |
Example: |
Assume: |
• Insured’s Issue Age was 45. • Policy Owner paid Premiums totaling $490,000 during the first 25 policy years. • Just prior to policy year 26 (Attained Age 70) the policy’s Cash Value is just over $1,000,000 and the Investment in the Contract is $490,000. • The Policy Owner completes an Automated Income Monitor election form and chooses a 5% gross rate of return, a goal of $100,000 Cash Surrender Value at Attained Age 95 and the Fixed Duration option for 25 years. • The first AIM In Force illustration is run that solves for an annual income amount at an assumed 5% gross rate of return and a goal of at least $100,000 of Cash Surrender Value at Attained Age 95. The result of the solve is an annual income amount of $66,720. A partial surrender of $66,720 will be processed and sent to the Policy Owner. Each year thereafter, if the Automated Income Monitor program has not been terminated, another illustration will be run with the same assumptions and income solve. The appropriate partial surrender amount based on each solve will be processed. This will continue until the entire $490,000 Investment in the Contract has been distributed through partial surrenders, then the income amounts will be processed as loans. |
Example: |
Assume the following: |
• The policy’s Cash Value is $43,000 and it is allocated entirely to the Sub-Accounts. |
• There is no existing Indebtedness. |
• The Policy Owner has requested a $6,000 policy loan at the beginning of the first Policy Year. |
*For reference, the maximum policy loan would be $38,700 = $43,000 x 90% - $0.00 (Indebtedness) |
Once the $6,000 loan is approved, $6,000 is paid directly to the Policy Owner from Nationwide. $6,000 is transferred from the Sub-Accounts to the policy loan account. This serves as collateral for Nationwide. The policy’s Indebtedness on the day of the loan is $6,000. |
• At the end of the first Policy Year, assume the only loan the Policy Owner requested was the $6,000 loan. Assuming the Policy Owner has not made any loan repayments, the Indebtedness at the end of the next occurring policy anniversary is $6,120 due to $120 of accrued loan interest during the year ($6,000 + $120 = $6,120). Should a claim for the Death Benefit Proceeds be made, the Proceeds would be reduced by the $6,120 Indebtedness. |
• Assuming no loan repayments are ever made, Indebtedness continues to accrue interest. All unpaid loan interest will also be treated as new policy loans and loan interest will continue to accumulate as Indebtedness |
• If the Policy Owner submits a loan repayment, the amount of the loan repayment will be transferred from the policy loan account and credited to the Cash Value. |
• If any Indebtedness exists when the Surrender Proceeds or Death Benefit Proceeds become payable, the Proceeds will be reduced by the total Indebtedness. |
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Underlying Mutual Fund and Adviser/Sub-Adviser |
Current Expenses |
Average Annual Total Returns (as of 12/31/2023) | ||
1 year |
5 year |
10 year | |||
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This Sub-Account is only available in policies issued before May 1, 2020 Investment Advisor: |
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AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable Global Thematic Growth Portfolio: Class B) Investment Advisor: |
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Current Expenses |
Average Annual Total Returns (as of 12/31/2023) | ||
1 year |
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Investment Advisor: |
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Investment Advisor: Subadvisor: |
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This Sub-Account is only available in policies issued before May 1, 2018 Investment Advisor: |
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Investment Advisor: Subadvisor: |
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This Sub-Account is only available in policies issued before May 1, 2023 Investment Advisor: Subadvisor: |
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Type |
Underlying Mutual Fund and Adviser/Sub-Adviser |
Current Expenses |
Average Annual Total Returns (as of 12/31/2023) | ||
1 year |
5 year |
10 year | |||
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Investment Advisor: Subadvisor: |
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This Sub-Account is only available in policies issued before May 1, 2022 Investment Advisor: |
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Investment Advisor: |
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Investment Advisor: |
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This Sub-Account is only available in policies issued before May 1, 2019 Investment Advisor: |
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Investment Advisor: |
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Investment Advisor: |
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This Sub-Account is only available in policies issued before May 1, 2023 Investment Advisor: |
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Investment Advisor: |
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This Sub-Account is only available in policies issued before May 1, 2023 Investment Advisor: |
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Delaware Ivy Pathfinder Aggressive: Class II) This Sub-Account is only available in policies issued before May 1, 2018 Investment Advisor: Subadvisor: |
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Delaware Ivy Pathfinder Conservative: Class II) This Sub-Account is only available in policies issued before May 1, 2018 Investment Advisor: Subadvisor: |
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Delaware Ivy Pathfinder Moderate: Class II) This Sub-Account is only available in policies issued before May 1, 2018 Investment Advisor: Subadvisor: |
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Type |
Underlying Mutual Fund and Adviser/Sub-Adviser |
Current Expenses |
Average Annual Total Returns (as of 12/31/2023) | ||
1 year |
5 year |
10 year | |||
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Portfolios - Delaware Ivy Pathfinder Moderately Aggressive: Class II) This Sub-Account is only available in policies issued before May 1, 2018 Investment Advisor: Subadvisor: |
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Portfolios - Delaware Ivy Pathfinder Moderately Conservative: Class II) This Sub-Account is only available in policies issued before May 1, 2018 Investment Advisor: Subadvisor: |
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Underlying Mutual Fund and Adviser/Sub-Adviser |
Current Expenses |
Average Annual Total Returns (as of 12/31/2023) | ||
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Type |
Underlying Mutual Fund and Adviser/Sub-Adviser |
Current Expenses |
Average Annual Total Returns (as of 12/31/2023) | ||
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5 year |
10 year | |||
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Investment Advisor: Subadvisor: |
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Type |
Underlying Mutual Fund and Adviser/Sub-Adviser |
Current Expenses |
Average Annual Total Returns (as of 12/31/2023) | ||
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This Sub-Account is only available in policies issued before May 1, 2019 Investment Advisor: |
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State |
State Law Variations |
California |
• Right to Cancel – 30 day right to examine and cancel. Refund of the Cash Value in full, without any deductions for any applicable policy fees. Net Premium will be placed in the Fixed Account or a money-market Sub-Account unless directed otherwise. If invested in the Variable Account, refund will be the policy’s Cash Value, plus any policy fees paid. • Service Fee – The guaranteed maximum service fee is $5.00. • Long-Term Care Rider II – Loans and partial surrenders are permitted to be taken from the policy while the Rider benefit is being paid. • Accelerated Death Benefit for Critical Illness Rider is not available. |
Colorado |
• The Suicide provision for the Accidental Death Benefit Rider, Children’s Term Insurance Rider, and Spouse Life Insurance Rider is limited to one year. |
Delaware |
• Extends spousal rights to a party to a civil union. |
Florida |
• Long-Term Fixed Account Restrictions – We may not refuse additional Premium payments and/or transfers to the Long-Term Fixed Account. • Asset Rebalancing – We may not limit the number of Sub-Accounts and frequencies available for election. • There are no contractual restrictions on assignments. |
Illinois |
• Extends spousal rights to a party to a civil union. |
North Dakota |
• The Suicide provision for the Children’s Term Insurance Rider, Accelerated Death Benefit for Terminal Illness Rider, and Long-Term Care Rider is limited to one year. |
Pennsylvania |
• Premium Waiver Rider is not available. |
Vermont |
• Extends spousal rights to a party to a civil union. |
|
Reference Index Values – Example 1 | ||
Index A |
Index B |
Index C | |
Sweep Date |
2131.33 |
10709.90 |
1221.34 |
Month 1 |
2187.21 |
10811.60 |
1238.02 |
Month 2 |
2227.01 |
11006.88 |
1260.22 |
Month 3 |
2364.06 |
10703.08 |
1302.35 |
Month 4 |
2263.90 |
11317.54 |
1257.26 |
Month 5 |
2352.82 |
12004.13 |
1351.06 |
Month 6 |
2588.09 |
11342.89 |
1380.90 |
Month 7 |
2362.55 |
11144.06 |
1311.46 |
Month 8 |
2215.51 |
10883.49 |
1267.03 |
Month 9 |
2176.53 |
11102.01 |
1214.62 |
Month 10 |
2219.34 |
11368.24 |
1231.86 |
Month 11 |
2234.46 |
10707.68 |
1286.33 |
Month 12 |
2154.78 |
10488.24 |
1132.89 |
Monthly Average Value (A÷B) |
2278.86 |
11073.32 |
1269.50 |
Reference Index Performance Rate |
6.92 % |
3.39 % |
3.94 % |
|
Reference Index Values – Example 2 | ||
Index A |
Index B |
Index C | |
Sweep Date |
2131.33 |
10709.90 |
1221.34 |
Month 1 |
2111.90 |
10495.30 |
1185.49 |
Month 2 |
2146.28 |
10648.77 |
1195.43 |
Month 3 |
2122.75 |
10507.90 |
1193.81 |
Month 4 |
2151.95 |
10713.47 |
1211.59 |
Month 5 |
2178.14 |
10892.18 |
1227.26 |
Month 6 |
2202.11 |
10992.32 |
1233.72 |
Month 7 |
2238.84 |
11074.46 |
1254.57 |
Month 8 |
2282.31 |
11083.76 |
1265.63 |
Month 9 |
2209.50 |
10905.82 |
1221.11 |
Month 10 |
2216.78 |
11058.97 |
1239.17 |
Month 11 |
2249.03 |
11257.81 |
1250.82 |
Month 12 |
2277.12 |
11460.47 |
1259.35 |
Monthly Average Value (A÷B) |
2198.89 |
10924.27 |
1228.16 |
Reference Index Performance Rate |
3.17 % |
2.00 % |
0.56 % |
|
Reference Index Values – Example 3 | ||
Index A |
Index B |
Index C | |
Sweep Date |
2131.33 |
10709.90 |
1221.34 |
Month 1 |
2088.43 |
10564.18 |
1181.07 |
Month 2 |
2117.44 |
10703.71 |
1191.64 |
Month 3 |
2085.68 |
10564.49 |
1167.54 |
Month 4 |
2117.42 |
10423.29 |
1122.68 |
Month 5 |
2132.62 |
10627.09 |
1130.74 |
Month 6 |
2146.56 |
10672.57 |
1150.77 |
Month 7 |
2148.17 |
10732.57 |
1173.54 |
Month 8 |
2183.15 |
10819.64 |
1178.15 |
Month 9 |
2155.41 |
10876.41 |
1195.83 |
Month 10 |
2190.81 |
10506.11 |
1195.52 |
Month 11 |
2194.98 |
10220.01 |
1175.52 |
Month 12 |
2207.44 |
10366.71 |
1196.60 |
Monthly Average Value (A÷B) |
2147.34 |
10589.73 |
1171.63 |
Reference Index Performance Rate |
0.75 % |
-1.12 % |
-4.07 % |
|
Reference Index Value | ||
Example 1 |
Example 2 |
Example 3 | |
Sweep Date |
1775.32 |
1775.32 |
1775.32 |
Index Segment Maturity Date |
2350.70 |
1819.20 |
1740.88 |
Reference Index Performance Rate |
32.41 % |
2.47 % |
-1.94 % |
|
Reference Index Value | ||
Example 1 |
Example 2 |
Example 3 | |
Sweep Date |
1775.32 |
1775.32 |
1775.32 |
Index Segment Maturity Date |
2350.70 |
1819.20 |
1740.88 |
Reference Index Performance Rate |
32.41 % |
2.47 % |
-1.94 % |
Accumulation Unit – An accounting unit of measure of an investment in, or share of, a Sub-Account. Accumulation Unit values are initially set at $10 for each Sub-Account. |
Additional Term Insurance Rider Specified Amount – The portion of the Total Specified Amount attributable to the Additional Term Insurance Rider. |
Attained Age – A person's Issue Age plus the number of full years since the Policy Date. |
Base Policy Specified Amount – The amount of insurance coverage selected under the base policy, excluding any Rider Specified Amount. |
Cash Surrender Value – The Cash Value minus Indebtedness and any surrender charge. |
Cash Value – The total amount allocated to the Sub-Accounts, the policy loan account, and the general account options. |
CI Accelerated Death Benefit Payment – The actual net benefit amount Nationwide will pay if the requirements of the Accelerated Death Benefit for Chronic Illness Rider are met. It is equal to a CI Unadjusted Accelerated Death Benefit Payment reduced by applicable charges and adjustments. |
CI Eligible Specified Amount – The Base Policy Specified Amount in effect on each respective chronic illness benefit payment date, excluding any Additional Term Insurance Rider Specified Amount and accidental death benefits , after: 1) the death benefit option has been changed to Death Benefit Option 1 (level), if applicable, on the first chronic illness benefit payment date; 2) subtracting any reductions to the Base Policy Specified Amount for benefit payments from any other Riders that accelerate the Death Benefit on the same date and any portion of the Base Policy’s Specified Amount scheduled to terminate in twelve months or less; and 3) adding the dollar amount of any reductions to the Base Policy’s Specified Amount resulting from the payment of all prior CI Accelerated Death Benefit Payments. |
CI Proportional Reduction Percentage – The dollar amount of the Base Policy Specified Amount after reduction on a chronic illness benefit payment date divided by the dollar amount of the Base Policy Specified Amount immediately prior to reduction on a chronic illness benefit payment date. |
CI Unadjusted Accelerated Death Benefit Payment Amount – A dollar amount elected by the Policy Owner, subject to the CI Eligible Specified Amount and the limitations described in the Accelerated Death Benefit for Chronic Illness Rider, used to calculate CI Accelerated Death Benefit Payments and associated Base Policy Specified Amount reductions. The minimum and maximum CI Unadjusted Accelerated Death Benefit Payment available on a benefit payment date is described in the Rider and Policy Specification Pages. |
Code – The Internal Revenue Code of 1986, as amended. |
– is an amount used in the calculation of the Percent of Premium Charge and total compensation Nationwide pays. Commissionable Target Premium is actuarially derived based on the Base Policy Specified Amount, the Insured's characteristics and the death benefit option of the policy. |
CRI Accelerated Death Benefit Payment – The actual net benefit amount Nationwide will pay if the requirements of the Accelerated Death Benefit for Critical Illness Rider are met. It is equal to a CRI Unadjusted Accelerated Death Benefit Payment Amount reduced by applicable charges and adjustments. |
CRI Eligible Specified Amount – The Base Policy Specified Amount in effect on each respective critical illness benefit payment date, excluding any Additional Term Insurance Rider Specified Amount and accidental death benefits , after: 1) the death benefit option has been changed to Death Benefit Option 1 (level) on the first critical illness benefit payment date, if applicable; 2) subtracting any reductions to the Base Policy Specified Amount for benefit payments from the Accelerated Death Benefit for Terminal Illness Rider on the same date, the total of any benefit payments from the Long-Term Care Rider II, and any portion of the Base Policy’s Specified Amount scheduled to terminate in twelve months or less; and 3) adding the dollar amount of any reductions to the Base Policy’s Specified Amount resulting from the payment of all prior CRI Accelerated Death Benefit Payments. |
CRI Proportional Reduction Percentage – The dollar amount of the Base Policy Specified Amount after reduction on a critical illness benefit payment date divided by the dollar amount of the Base Policy Specified Amount immediately prior to reduction on a critical illness benefit payment date. |
CRI Unadjusted Accelerated Death Benefit Payment Amount – A dollar amount elected by the Policy Owner, subject to the CRI Eligible Specified Amount and the limitations described in the Accelerated Death Benefit for Critical Illness Rider, used to calculate CRI Accelerated Death Benefit Payments and associated Base Policy Specified Amount reductions. The minimum and maximum CRI Unadjusted Accelerated Death Benefit Payment available on a benefit payment date is described in the Rider and Policy Specification Pages. |
Death Benefit – The amount paid upon the Insured's death, before the deduction of any Indebtedness, reduction for any long-term care benefits paid, adjustments or reductions under the Long-Term Care Rider II, or due and unpaid policy charges. |
Death Benefit Guarantee Period – The length of time during which the Guaranteed Policy Continuation Provision is available. |
Directed Monthly Deductions – A Policy Owner’s election to have deductions for monthly policy charges, including Rider charges, deducted from a single Sub-Account or the Fixed Account. If the selected investment option’s value is insufficient to cover the full monthly deduction, the remainder of the monthly deduction will be deducted as described in How Monthly Charges are Deducted. The Long-Term Fixed Account, indexed interest strategies, and amounts allocated to Enhanced Dollar Cost Averaging programs are not available for Directed Monthly Deduction election. |
Extended No-Lapse Guarantee Value – A reference value used only for determining whether the requirements of the Extended No-Lapse Guarantee Rider are met. |
Fixed Account – An investment option that is funded by Nationwide's general account. |
Grace Period – A 61-day period after which the Policy will Lapse if sufficient payments are not made to prevent Lapse. |
In Force – Any time during which benefits are payable under the policy and any elected Rider(s). |
Indebtedness – The total amount of all outstanding policy loans, including principal and interest due. |
Index Segment(s) – A division of an indexed interest strategy created by the allocation of Net Premium and/or allocation or transfer of Cash Value to an indexed interest strategy on a Sweep Date. |
Index Segment Maturity Date – The scheduled end date of an Index Segment term. |
Index Segment Maturity Value - The Cash Value of an Index Segment on its Index Segment Maturity Date, including any Index Segment Interest credited. |
Insured – The person whose life is insured under the policy, and whose death triggers payment of the Death Benefit. |
Investment Experience – The market performance of a mutual fund/Sub-Account. |
Investment in the Contract – The amount that may be withdrawn from the policy tax free as defined in Section 72(e)(6) of the Code, see Taxes. |
Issue Age – A person's age based on their birthday nearest the Policy Date. If their last birthday was more than 182 days prior to the Policy Date, their nearest birthday will be their next birthday. |
Lapse – The policy terminates without value. |
Long-Term Care Specified Amount – The elected Long-Term Care Rider benefit amount adjusted for any post issue increases and decreases. |
Long-Term Fixed Account – An investment option that is funded by Nationwide’s general account. |
Maturity Date – The policy anniversary on which the Insured reaches Attained Age120. |
Minimum Required Death Benefit – The lowest Death Benefit that will qualify the policy as life insurance under the Code. |
– Dollar amounts used to calculate the Premium that must be paid to meet the requirements of the Guaranteed Policy Continuation Provision. |
Nationwide – Nationwide Life and Annuity Insurance Company. |
Net Amount At Risk – The base policy's Death Benefit minus the policy's Cash Value. |
Net Asset Value (NAV) – The price of each share of a mutual fund in which a Sub-Account invests. NAV is calculated by subtracting the mutual fund's liabilities from its total assets, and dividing that figure by the number of shares outstanding. Nationwide uses NAV to calculate the value of Accumulation Units. NAV does not reflect deductions made for charges taken from the Sub-Accounts. |
– Premium after transaction charges, but before any allocation to an investment option. |
Pending Sweep Transaction – Cash Value being held in the Fixed Account, including attributable accrued interest, pending application to an indexed interest strategy on the next applicable Sweep Date. |
Policy Date – The date the policy takes effect as shown in the Policy Specification Pages. Policy years, months, and anniversaries are measured from this date. |
Policy Monthaversary – The same day of the month as the Policy Date for each succeeding month. In any month where such day does not exist (e.g. 29th, 30th, or 31st), the Policy Monthaversary will be the last day of that calendar month. |
Policy Owner – The person or entity named as the owner on the application, or the person or entity assigned ownership rights. |
Policy Proceeds or Proceeds – Policy Proceeds may constitute the Death Benefit, or the amount payable if the policy matures or is surrendered, adjusted to account for any unpaid charges, Indebtedness and Rider benefits. |
Policy Specification Page(s) – The Policy Specification Page(s) are issued as part of the policy and contain information specific to the policy and the Insured, including coverage and Rider elections. Updated Policy Specification Page(s) will be issued if the Policy Owner makes any changes to coverage elections after the policy is issued. |
– Amount(s) paid to purchase and maintain the policy. |
– The aggregate of the sales load and premium tax charges. |
– The benefit received under the Premium Waiver Rider. The benefit takes the form of a monthly credit to the policy upon the Insured's total disability for six consecutive months not caused by a risk not assumed. The amount credited to the policy is the lesser of the Premium specified by the Policy Owner or the average actual monthly Premiums paid over the last 36 months prior to the disability (or such shorter period of time that the policy has been In Force). |
– Any return of Premium due to Code Section 7702 or 7702A. |
Rider – An optional benefit purchased under the policy. Rider availability and Rider terms may vary depending on the state in which the policy was issued. |
Rider Specified Amount – The elected dollar amount of coverage for Children’s Term Insurance Rider, Long-Term Care Rider II, Long-Term Care Rider, Spouse Life Insurance Rider, Accidental Death Benefit Rider, or Additional Term Insurance Rider. |
SEC – Securities and Exchange Commission. |
Service Center – The department of Nationwide responsible for receiving all service and transaction requests relating to the policy. For service and transaction requests submitted other than by telephone (including fax requests), the Service Center is Nationwide's mail and document processing facility. For service and transaction requests communicated by telephone, the Service Center is Nationwide's operations processing facility. Information on how to contact the Service Center is in the Contacting the Service Center provision. |
Sub-Account(s) – The mechanism used to account for allocations of Net Premium and Cash Value among the policy's variable investment options. |
Substandard Rating – An underwriting classification based on medical and/or non-medical factors used to determine what to charge for life insurance based on characteristics of the Insured beyond traditional factors for standard risks, which include age, sex, and tobacco habits of the Insured. Substandard Ratings are shown in the Policy Specification Pages as rate class multiples (medical factors) and/or monthly flat extras (medical and/or non-medical factors). The higher the rate class multiple or monthly flat extra, the greater the risk assessed and the higher the cost of coverage. |
Sweep Date(s) – The dates on which allocated Net Premium and/or transferred Cash Value are applied to an indexed interest strategy to create a new Index Segment. |
TI Accelerated Death Benefit Payment – The actual benefit amount that will be paid under the Accelerated Death Benefit for Terminal Illness Rider if the eligibility and conditions for payment are met. The benefit amount paid is reduced for risk deductions and adjustments for premature payment of the Base Policy Specified Amount. |
TI Unadjusted Accelerated Death Benefit Payment – An amount equal to the percentage of the Base Policy Specified Amount elected multiplied by the Base Policy Specified Amount, when a payment is requested under the Accelerated Death Benefit for Terminal Illness Rider. Policy Owners do not receive the unadjusted amount because it does not include risk charges and adjustments made due to the premature payment of a portion of the Base Policy Specified Amount. |
Total Specified Amount – The sum of the Base Policy Specified Amount and the Additional Term Insurance Rider Specified Amount, if applicable. |
Valuation Period – The period during which Nationwide determines the change in the value of the Sub-Accounts. One Valuation Period ends and another begins as of the close of regular trading on the New York Stock Exchange. |
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FEES AND EXPENSES |
Charges for Early Withdrawals |
Surrender Charge – Unless the requirement for a policy without surrender charges is met on the Policy Date, for up to Policy Specified Amount increase, a surrender charge is deducted if the policy is surrendered, Lapses, or there is a requested decrease of the Base Policy Specified Amount (see Surrender Charge). This charge will vary based upon the individual characteristics of the Insured. The maximum surrender charge is $45.29 per $1,000 of Base Policy Specified Amount, or example, for a policy with a $100,000 Base Policy Specified Amount, a complete surrender could result in a surrender charge of $ Partial Surrender Fee – Deducted from the partial surrender amount requested (see Partial Surrender Fee). Currently, Nationwide waives the Partial Surrender Fee. Nationwide may elect in the future to assess a Partial Surrender Fee. The Partial Surrender Fee assessed to each surrender will not exceed the lesser of $25 or 5% of the amount surrendered. |
Transaction Charges |
The Policy Owner may also be charged for other transactions as follows: • Percent of Premium Charge – Deducted from each Premium payment applied to a policy. • Capped Indexed Interest Strategy Charge – Assessed upon creation of an Index Segment in an Indexed Interest Strategy with a cap rate. • Service Fee – Upon requesting an illustration, policy loan, or copies of transaction confirmations and statements. • Rider Charges – One time rider charges for certain benefits, deducted upon invoking the rider. See Standard Policy Charges and Policy Riders and Rider Charges. |
Ongoing Fees and Expenses (periodic charges) |
In addition to surrender charges and transaction charges, an investment in the policy is subject to certain ongoing fees and expenses, including fees and expenses covering the cost of insurance under the policy and the cost of optional benefits available under the policy, and such fees and expenses are set based on characteristics of the Insured (e.g., age, sex, and rating classification), see Standard Policy Charges and Policy Riders and Rider Charges. Please refer to the Policy Specification Pages of your policy for rates applicable to the policy. | ||
A Policy Owner will also bear expenses associated with the underlying mutual funds under the policy, as shown in the following table: | |||
Annual Fee |
Minimum |
Maximum | |
Investment options (underlying mutual fund fees and expenses) |
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| |
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1 |
RISKS | |
Risk of Loss |
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Not a Short-Term Investment |
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RISKS |
Risks Associated with Investment Options |
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Insurance Company Risks |
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Policy Lapse |
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RESTRICTIONS | |
Investments |
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Optional Benefits |
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TAXES | |
Tax Implications |
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CONFLICTS OF INTEREST | |
Investment Professional Compensation |
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RISKS | |
Exchanges |
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Transaction Fees | |||
Charge |
When Charge is Deducted |
Amount Deducted | |
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Maximum: |
Currently: |
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Maximum: applied to create an Index Segment |
Currently: applied to create an Index Segment |
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Maximum: $ |
Currently: $ |
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Maximum: lesser of $ the amount surrendered from the policy's Cash Value |
Currently: $ |
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Maximum: $ Base Policy Specified Amount |
Minimum: $ Policy Specified Amount |
Representative: an Issue Age 35 male preferred non-tobacco with a Base Policy Specified Amount and Total Specified Amount of $500,000; Death Benefit Option 1; and a complete surrender of the policy in the first year |
Upon surrender, policy Lapse, and certain Base Policy Specified Amount decreases |
$17.93 per $1,000 of Base Policy Specified Amount from the policy's Cash Value |
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Maximum: $ Cash Value |
Minimum: $ Value |
Representative: an Attained Age 85 Insured with a Cash Value of $500,000, assuming the guideline premium/cash value corridor life insurance qualification test is elected |
Upon invoking the Rider |
$32 per $1,000 of Cash Value |
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Maximum: $ Cash Value |
Minimum: $ Value |
Representative: an Attained Age 85 Insured with a Cash Value of $500,000 |
Upon invoking the Rider |
$32 per $1,000 of Cash Value |
Transaction Fees | |||
Charge |
When Charge is Deducted |
Amount Deducted | |
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TI Administrative Charge |
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Maximum: $ |
Currently: $ |
Rider Charge |
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Maximum: $ Unadjusted Accelerated Death Benefit Payment |
Minimum: $ Unadjusted Accelerated Death Benefit Payment |
Representative: an Insured of any age or sex, an assumed life expectancy of 1 year, an assumed interest rate of 5% and a risk charge of 5%. |
Upon invoking the Rider |
$100 per $1,000 of TI Unadjusted Accelerated Death Benefit Payment |
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CI Administrative Charge |
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Maximum: $ |
Currently: $ |
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CRI Administrative Charge |
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Maximum: $ |
Currently: $ |
Periodic Charges Other than Annual Underlying Mutual Fund Expenses | |||
Base Contract Charges | |||
Charge |
When Charge is Deducted |
Amount Deducted | |
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Maximum: $ Amount At Risk |
Minimum: $ Amount At Risk |
Base Contract Charges |
Representative: an Issue Age 35, in the first policy year, male preferred non- tobacco with a Base Policy Specified Amount and Total Specified Amount of $500,000 and Death Benefit Option 1 |
Monthly |
$0.01 per $1,000 of Net Amount At Risk |
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Maximum: $ Extra assessed | |
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Maximum: allocated to the Sub- Accounts |
Currently: allocated to the Sub- Accounts |
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Maximum: $ |
Currently: $ |
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Maximum: $ Base Policy Specified Amount |
Minimum: $ Policy Specified Amount |
Representative: an Issue Age of 35, in the first policy year, male preferred non- tobacco with a Base Policy Specified Amount of $500,000, and Death Benefit Option 1 |
Monthly |
$0.17 per $1,000 of Base Policy Specified Amount |
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Maximum: |
Currently: |
Optional Benefit Charges | |||
Charge |
When Charge is Deducted |
Amount Deducted | |
|
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Maximum: $ Children’s Term Insurance Rider Specified Amount |
Currently: $ Children’s Term Insurance Rider Specified Amount |
|
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Maximum: $ -Term Care Rider Specified Amount |
Minimum: $ Long-Term Care Rider Specified Amount |
Representative: an Issue Age 35 male single preferred non-tobacco with an elected benefit percentage of 4% |
Monthly |
$0.08 per $1,000 of Long-Term Care Rider Specified Amount |
|
|
Maximum: $ Long-Term Care Rider Net Amount At Risk |
Minimum: $ Long-Term Care Rider Net Amount At Risk |
Representative: an Attained Age 35 male preferred non-tobacco |
Monthly |
$0.02 per $1,000 of Long-Term Care Rider Net Amount At Risk |
Optional Benefit Charges | |||
The Spouse Life Insurance Rider is only available for policies with applications signed prior to |
|
Maximum: $ Spouse Life Insurance Rider Specified Amount |
Minimum: $ Spouse Life Insurance Rider Specified Amount |
Representative Spouse: an Attained Age 35 female non- tobacco with a Spouse Life Insurance Rider Specified Amount of $100,000 |
Monthly |
$0.11 per $1,000 of Spouse Life Insurance Rider Specified Amount |
|
|
Maximum: $ Accidental Death Benefit Rider Specified Amount |
Minimum: $ Accidental Death Benefit Rider Specified Amount |
Representative: an Attained Age 35 male preferred non- tobacco with an Accidental Death Benefit Rider Specified Amount of $100,000 |
Monthly |
$0.06 per $1,000 of Accidental Death Benefit Rider Specified Amount |
|
|
Maximum: $ Waiver of Monthly Deduction Benefit |
Minimum: $ of Monthly Deduction Benefit |
Representative: an Attained Age 35 male preferred non-tobacco with a Total Specified Amount of $500,000 and Death Benefit Option 1 |
Monthly |
$85 per $1,000 of Waiver of Monthly Deduction Benefit |
|
|
Maximum: $ Premium Specified by the Policy Owner |
Minimum: $ Premium Specified by the Policy Owner |
Representative: an Attained Age 35 male preferred non-tobacco |
Monthly |
$42 per $1,000 of Premium Waiver Benefit |
|
|
Maximum: guaranteed maximum cost of insurance charge for the policy, and Additional Term Insurance Rider if elected, plus the guaranteed maximum charges for all other In Force Riders |
Minimum: current cost of insurance charge for the policy, and Additional Term Insurance Rider if elected, plus the current charges for all other In Force Riders |
Representative: an Issue Age 35 male in the first policy year preferred non-tobacco with a Total Specified Amount of $500,000, Death Benefit Option 1, a maximum Attained Age election of 90, and no other Riders are attached to the policy. |
Monthly |
44.50% of the sum of the current cost of insurance charge for the policy, and Additional Term Insurance Rider if elected, plus the current charges for all other In Force Riders |
Optional Benefit Charges | |||
Additional Term Insurance Rider Charges † The Additional Term Insurance Rider is only available for policies with applications signed prior to |
| ||
|
|
Maximum: $ Additional Term Insurance Rider Death Benefit |
Minimum: $ Additional Term Insurance Rider Death Benefit |
Representative an Issue Age 35 male, in the first policy year; preferred non-tobacco with an Additional Term Insurance Rider Specified Amount of $250,000 and a Total Specified Amount of $500,000 |
Monthly |
$0.01 per $1,000 of Additional Term Insurance Rider Death Benefit |
|
|
Maximum: $ Additional Term Insurance Rider Specified Amount |
Minimum: $ Additional Term Insurance Rider Specified Amount |
Representative: an Issue Age of 35, in the first policy year, male preferred non- tobacco with an Additional Term Insurance Rider Specified Amount of $250,000 and a Total Specified Amount of $500,000, and Death Benefit Option 1 |
Monthly |
$0.19 per $1,000 of Additional Term Insurance Rider Specified Amount |
Annual Underlying Mutual Fund Expenses | ||
|
Minimum |
Maximum |
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|
Nationwide believes that the indexed interest options are in substantial compliance with the conditions set forth in Section 989J(a) (1) – (3) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and, therefore, qualify for an exemption from registration under the federal securities laws. As Nationwide general account options, the values of the indexed interest options do not vary according to the performance of a separate account. In addition, the products in which the indexed interest options are offered satisfy standard non- forfeiture laws applicable to life insurance. Accordingly, Nationwide believes it has a reasonable basis for concluding that the indexed interest options provide sufficient guarantees of principal and interest through Nationwide’s General Account to qualify for the exclusion from the Securities Act of 1933 provided by Section 3(a)(8). |
Hypothetical Reference Index Performance |
One Year S&P 500® Point-to-Point Indexed Interest Strategy Cap Rate: 10% Participation Rate: 100% Floor Rate: 1.00% |
One Year Uncapped S&P 500® Point-to-Point Indexed Interest Strategy Spread Rate: 4.50% Participation Rate: 100% Floor Rate: 0.25% |
-4% |
1% |
0.25% |
6% |
6% |
1.50% |
8% |
8% |
3.50% |
15% |
10% |
10.50% |
32% |
10% |
27.5% |
Based on the assumptions shown, performs best when reference index increases approximately: |
0% to 14.50% |
14.50% and up |
Trading Behavior |
Nationwide's Response |
Six or more transfer events within one calendar quarter |
Nationwide will mail a letter to the Policy Owner notifying them that: (1)they have been identified as engaging in harmful trading practices; and (2)if their transfer events total 11 within two consecutive calendar quarters or 20 within one calendar year, the Policy Owner will be limited to submitting transfer requests via U.S. mail. |
11 transfer events within two consecutive calendar quarters OR 20 transfer events within one calendar year |
Nationwide will automatically limit the Policy Owner to submitting transfer requests via U.S. mail. |
Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
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Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
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Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
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Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
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Name of Benefit |
Purpose |
Is Benefit Standard or Optional |
Brief Description of Restrictions/Limitations |
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Policy year calculated from the Policy Date or effective date of Base Policy Specified Amount Increase*: |
Surrender Charge, as a percentage of the initial Surrender Charge by Issue Age | |||||
|
0-65 |
66 |
67 |
68 |
69 |
70+ |
|
|
|
|
|
|
|
1 |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
2 |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
3 |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
4 |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
87.50% |
5 |
91.67% |
91.00% |
90.00% |
87.50% |
84.99% |
75.00% |
6 |
83.33% |
82.00% |
80.00% |
75.00% |
69.98% |
62.50% |
7 |
75.00% |
73.00% |
70.00% |
65.00% |
59.99% |
50.00% |
8 |
66.67% |
64.00% |
60.00% |
55.00% |
47.48% |
37.50% |
9 |
58.33% |
55.00% |
50.00% |
45.00% |
34.99% |
25.00% |
10 |
50.00% |
46.00% |
40.00% |
35.00% |
25.00% |
12.50% |
11 |
41.67% |
37.00% |
32.50% |
25.00% |
12.50% |
0.00% |
12 |
33.33% |
28.00% |
25.00% |
15.00% |
0.00% |
0.00% |
13 |
25.00% |
19.00% |
12.50% |
0.00% |
0.00% |
0.00% |
14 |
16.67% |
10.50% |
0.00% |
0.00% |
0.00% |
0.00% |
15 |
8.33% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
16+ |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Example: |
Assume the policy is currently In Force and the following: |
• The policy was issued with the cash value accumulation life insurance qualification test |
• Insured’s Attained Age is 77 |
• Policy is in its 23rd policy year |
• Death Benefit Option 2 |
• Total Specified Amount: $500,000 |
• Indebtedness: $195,000 |
• Long-term care benefits paid: $120,000 |
• Cash Value: $375,000 |
• Applicable age-based factor for determining rider charge: 14.7% |
Using the above assumptions, a decision to invoke the Rider would impact the policy as follows: |
(1) The death benefit option will be changed from Death Benefit Option 2 to Death Benefit Option 1. |
(2) The one-time charge for invoking the Rider will be $55,125 ($375,000 x 14.7%) and will be deducted from the Cash Value, reducing the Cash Value to $319,875 ($375,000 - $55,125) |
(3) The non-loaned Cash Value $124,875 ($319,875 - $195,000) will be transferred to the Fixed Account where it will earn at least the minimum guaranteed fixed interest rate. |
(4) The policy loan account ($195,000) will continue to earn interest at the policy's loan crediting rate. |
(5) The Indebtedness ($195,000) will continue to grow at the policy’s loan interest charged rate. |
(6) After this Rider is invoked, no other changes to the policy can be made. |
Example: |
Assume a policy is currently In Force and the following: |
• Insured’s Attained Age is 75 |
• Policy is in its 27th policy year |
• Death Benefit Option 1 |
• Total Specified Amount: $700,000 |
• Indebtedness: $627,000 |
• Cash Value: $660,000 |
• Applicable age-based factor for determining rider charge: 4.60%* |
* Rate is subject to change based on the policy |
Using the above assumptions, a decision to invoke the Rider would impact the policy as follows: |
(1) The death benefit option will remain at Death Benefit Option 1. |
(2) The one-time charge for invoking the Rider will be $30,360 ($660,000 x 4.60%) and will be deducted from the Cash Value, reducing the Cash Value to $629,640. |
(3) The Total Specified Amount will remain at $700,000 since it is less than the Minimum Required Death Benefit of $712,611.90. |
(4) The non-loaned Cash Value $2,640 ($629,640 - $627,000 will be transferred to the Fixed Account where it will earn at least the minimum guaranteed fixed interest rate. |
(5) The policy loan account ($627,000) will continue to earn interest at the policy's loan crediting rate. |
(6) The Indebtedness ($627,000) will continue to grow at the policy's loan interest charged rate. |
(7) After this Rider is invoked, no other changes to the policy can be made. |
Example: |
Assume the Children’s Term Insurance Rider Specified Amount is $15,000 and the Insured has two children that meet the definition of insured child and the Rider is In Force. If one of the children dies, $15,000 will be paid to the named beneficiary. The rider would continue to remain in effect as long the second child meets the definition of insured child. Upon the death of the second insured child, an additional $15,000 would be paid to the named beneficiary as long as coverage under the Rider has not otherwise terminated. |
Example: |
Assume the Long-Term Care Specified Amount is $400,000 and the elected percentage is 3%. If the invocation requirements below are satisfied and the 90-day elimination period has been satisfied, the Policy Owner can choose a monthly benefit up to 3% of the Long-Term Care Specified Amount ($400,000 x 3% = $12,000). If there is no Indebtedness, this monthly benefit will be paid until either the Insured no longer meets the eligibility requirements or the entire $400,000 has been paid. If there is Indebtedness, monthly benefits will end when the accumulated benefits become greater than or equal to the Base Policy Specified Amount minus Indebtedness. |
Example: |
Assume the Long-Term Care Specified Amount is $500,000. If the invocation requirements below are satisfied and the 90-day elimination period has been satisfied, the Owner can choose a monthly benefit up to 2% of the Long-Term Care Specified Amount ($10,000). If there is no Indebtedness, this monthly benefit will be paid until either the Insured no longer meets the eligibility requirements or the entire $500,000 has been paid. If there is Indebtedness, monthly benefits will end when the accumulated benefits become greater than or equal to the Long-Term Care Specified Amount minus Indebtedness. |
Example: |
Assume wife (the Insured) purchased a policy and elected the Spouse Life Insurance Rider with a Spouse Life Insurance Rider Specified Amount of $50,000 and named husband as the Insured Spouse. Both the Insured and Insured Spouse met the age requirements for the Rider at the time of election. If Insured Spouse dies prior to reaching Attained Age 70 and the Rider has not otherwise terminated, a death benefit in the amount of $50,000 is payable to the designated beneficiary. |
ADB |
= |
[RP (SA)] – [RC + (RP x OPL) + UP + AEC] |
Where: |
| |
ADB |
= |
TI Accelerated Death Benefit Payment |
RP |
= |
Requested Percentage |
SA |
= |
Base Policy Specified Amount at the time the benefit is calculated |
RC |
= |
Rider charge |
OPL |
= |
outstanding policy loans on the date the benefit is calculated |
UP |
= |
any unpaid Premium which is the amount of any Premium that might be due or payable if the policy is in a Grace Period on the date the benefit is calculated |
AEC |
= |
Administrative Expense Charge |
Example: | ||
Assume the Base Policy Specified Amount is $100,000, the Cash Value (CV) is $42,000, and the Requested Percentage (RP) of the Base Policy Specified Amount is 50%. Also assume Indebtedness in the amount of $10,000, unpaid Premium of $500, an aggregate Rider charge of $3,500, and an Administrative Expense Charge of $250. | ||
Using the above assumptions, here is how the TI Accelerated Death Benefit (ADB) would be calculated. | ||
ADB |
= |
[50% x $100,000)] – [$3,500 + (50% x $10,000) + $500 + $250] |
ADB |
= |
[$50,000] – [$3,500 + $5,000 + $500 + $250] |
ADB |
= |
[$50,000] – [$9,250] |
ADB |
= |
$40,750 |
| ||
The reduction factor for calculating the remaining Base Policy Specified Amount and Cash Value is calculated as (1 – RP). (1 - .5) = .5 | ||
| ||
.5 x $100,000 = $50,000 the remaining Base Policy Specified Amount | ||
.5 x $42,000 = $21,000 the remaining Cash Value | ||
|
SApost |
= |
SApre – Upmt * SARF |
Where: |
|
|
SApost |
= |
Base Policy Specified Amount after payment of CI Accelerated Death Benefit Payment |
SApre |
= |
Base Policy Specified Amount prior to payment of CI Accelerated Death Benefit Payment |
UPmt |
= |
CI Unadjusted Accelerated Death Benefit Payment |
SARF |
= |
Base Policy Specified Amount reduction factor |
PRP |
= |
SApost / SApre |
Where: |
|
|
PRP |
= |
CI Proportional Reduction Percentage |
SApost |
= |
Base Policy Specified Amount after payment of CI Accelerated Death Benefit Payment |
SApre |
= |
Base Policy Specified Amount prior to payment of CI Accelerated Death Benefit Payment |
ADB |
= |
[UPmt] – [AC + (1 – PRP) x OPL + UP] |
Where: |
|
|
ADB |
= |
CI Accelerated Death Benefit Payment |
UPmt |
= |
CI Unadjusted Accelerated Death Benefit Payment |
AC |
= |
Administrative Charge |
PRP |
= |
CI Proportional Reduction Percentage |
OPL |
= |
Indebtedness on the date the benefit is calculated |
UP |
= |
any unpaid Premium which is the amount of any Premium that might be due or payable if the policy is in a Grace Period on the date the benefit is calculated |
CVpost |
= |
CVpre x PRP |
Where: |
|
|
CVpost |
= |
Cash Value after payment of CI Accelerated Death Benefit Payment |
CVpre |
= |
Cash Value prior to payment of CI Accelerated Death Benefit Payment |
PRP |
= |
CI Proportional Reduction Percentage |
Example: | ||
Assume the Base Policy Specified Amount is $500,000 and the CI Unadjusted Accelerated Death Benefit Payment is $100,000. Also assume a Cash Value of $40,000, Indebtedness in the amount of $10,000, unpaid Premium of $500 and a Rider administrative charge of $250. The Base Policy Specified Amount reduction factor in this example is 1.5. | ||
Using the above assumptions, the CI Accelerated Death Benefit Payment, the actual net benefit amount that Nationwide will pay, and reduction to the Base Policy Specified Amount and Cash Value are calculated as follows: | ||
1. Calculate the Base Policy Specified Amount after payment of the CI Accelerated Death Benefit Payment: | ||
SApost |
= |
$500,000 - $100,000 x 1.5 |
|
= |
$350,000 |
2. Calculate the CI Proportional Reduction Percentage: | ||
PRP |
= |
[($500,000 – $100,000 x 1.5) / $500,000 |
|
= |
$350,000 / $500,000 |
|
= |
0.7 |
3. Calculate the CI Accelerated Death Benefit Payment: | ||
ADB |
= |
$100,000 – [$250 + (1 – 0.7) x $10,000+ $500] |
ADB |
= |
$100,000 – [$250 + $3,000 + $500] |
ADB |
= |
$100,000 – $3,750 |
ADB |
= |
$96,250 |
4. Calculate the Cash Value after payment of the CI Accelerated Death Benefit Payment: | ||
CVpost |
= |
$40,000 x 0.7 |
|
= |
$28,000 |
SApost |
= |
SApre – Upmt * SARF |
Where: |
|
|
SApost |
= |
Base Policy Specified Amount after payment of CRI Accelerated Death Benefit Payment |
SApre |
= |
Base Policy Specified Amount prior to payment of CRI Accelerated Death Benefit Payment |
UPmt |
= |
CRI Unadjusted Accelerated Death Benefit Payment |
SARF |
= |
Base Policy Specified Amount reduction factor |
PRP |
= |
SApost / SApre |
Where: |
|
|
PRP |
= |
CRI Proportional Reduction Percentage |
SApost |
= |
Base Policy Specified Amount after payment of CRI Accelerated Death Benefit Payment |
SApre |
= |
Base Policy Specified Amount prior to payment of CRI Accelerated Death Benefit Payment |
ADB |
= |
[UPmt] – [AC + (1 – PRP) x OPL + UP] |
Where: |
|
|
ADB |
= |
CRI Accelerated Death Benefit Payment |
UPmt |
= |
CRI Unadjusted Accelerated Death Benefit Payment |
AC |
= |
Administrative Charge |
PRP |
= |
CRI Proportional Reduction Percentage |
OPL |
= |
Indebtedness on the date the benefit is calculated |
UP |
= |
any unpaid Premium which is the amount of any Premium that might be due or payable if the policy is in a Grace Period on the date the benefit is calculated |
CVpost |
= |
CVpre x PRP |
Where: |
|
|
CVpost |
= |
Cash Value after payment of CRI Accelerated Death Benefit Payment |
CVpre |
= |
Cash Value prior to payment of CRI Accelerated Death Benefit Payment |
PRP |
= |
CRI Proportional Reduction Percentage |
Example: | ||
Assume the Base Policy Specified Amount is $500,000 and the CRI Unadjusted Accelerated Death Benefit is $20,000. Also assume a Cash Value of $80,000, Indebtedness in the amount of $10,000, unpaid Premium of $500 and a Rider administrative charge of $250. The Base Policy Specified Amount reduction factor in this example is 3.5. | ||
Using the above assumptions, the CRI Accelerated Death Benefit Payment, the actual net benefit amount that Nationwide will pay, and reduction to the Base Policy Specified Amount and Cash Value are calculated as follows: | ||
1. Calculate the Base Policy Specified Amount after payment of the CRI Accelerated Death Benefit Payment | ||
SApost |
= |
$500,000 - $20,000 x 3.5 |
|
|
$430,000 |
2. Calculate the CRI Proportional Reduction Percentage: | ||
PRP |
= |
[($500,000 – $20,000 x 3.5) / $500,000 |
|
|
$430,000 / $500,000 |
|
|
0.86 |
3. Calculate the CRI Accelerated Death Benefit Payment: | ||
ADB |
= |
$20,000 – [$250 + (1 – 0.86) x $10,000+ $500] |
ADB |
= |
$20,000 – [$250 + $1,400 + $500] |
ADB |
= |
$20,000 – $2,150 |
ADB |
= |
$17,850 |
4. Calculate the Cash Value after payment of the CRI Accelerated Death Benefit Payment: | ||
CVpost |
= |
$80,000 x 0.86 |
|
|
$68,800 |
Example: |
Assume the policy is issued with a Base Policy Specified Amount of $500,000, an Accidental Death Benefit Rider Specified Amount of $100,000, and Death Benefit Option 1. If the Insured dies by accident as defined above prior to reaching Attained Age 70, the total death benefit paid to the beneficiary would be $600,000, as long as the Rider has not otherwise terminated. |
Example: |
Assume the policy is currently In Force, the Rider is not otherwise terminated, and the following: |
• The Insured has been totally disabled for six consecutive months; |
• At the time of disability, the policy was in its 8th policy year and the Insured’s Attained Age was 59; |
• The Premium Waiver Rider Specified Premium is $700; and |
• The Premiums paid over the 36 months prior to disability totaled $24,120. |
Since the average monthly Premium paid over the 36 months prior to the disability was $670 ($24,120 divided by 36), $670 will be credited to the policy’s Cash Value on each Policy Monthaversary only until the Insured reaches Attained Age 65, or until the Insured is no longer disabled, if earlier. |
Example: |
Assume the Base Policy Specified Amount is $500,000, Death Benefit Option 2, the Cash Value is $40,000 and the Additional Term Insurance Rider Specified Amount is $300,000 and coverage under the Rider is in effect and has not otherwise terminated. Upon the death of the Insured, if there is no Indebtedness and no Long-Term Care benefits have been paid, the Death Benefit Proceeds under the base policy will be $540,000 and the Additional Term Insurance Death Benefit Proceeds will be $300,000, for a total of $840,000. |
Example: |
Assume the following: |
• The Waiver of Monthly Deductions Rider is elected and the Premium Waiver Rider has not been purchased; • The Insured has been totally disabled for six consecutive months and the Insured’s disability is not a result of a risk not assumed; and • At the time of disability, the Insured’s Attained Age was 57. The policy’s monthly deductions will be waived (not deducted from the Cash Value) until the Insured is no longer disabled, or until the Waiver of Monthly Deductions Rider is terminated. |
Example: |
Assume the following: |
• the Extended No-Lapse Guarantee Rider is In Force; • the Maximum Attained Age elected at issue was 90; • the policy’s Guaranteed Policy Continuation Provision has ended; • the Extended No-Lapse Guarantee Value minus Indebtedness is greater than zero; and • the Cash Surrender Value is $300 If, on the next Policy Monthaversary, the monthly deductions are greater than $300, the policy will be kept In Force through Attained Age 89 as long as the Extended No-Lapse Guarantee Value minus Indebtedness remains greater than zero. |
Example: |
Policy Owner elects to participate in Dollar Cost Averaging and has transferred $30,000 to the Fixed Account, which will serve as the source investment option for her Dollar Cost Averaging program. She would like the Dollar Cost Averaging transfers to be allocated as follows: $1,500 to Sub-Account L and $1,000 to Sub-Account M. Each month, Nationwide will automatically transfer $2,500 from the Fixed Account and allocate $1,000 to Sub- Account M and $1,500 to Sub-Account L until the Fixed Account is depleted. |
Beginning of Month |
Fraction of Cash Value Transferred |
2 |
1/11 |
3 |
1/10 |
4 |
1/9 |
5 |
1/8 |
6 |
1/7 |
7 |
1/6 |
8 |
1/5 |
9 |
1/4 |
10 |
1/3 |
11 |
1/2 |
12 |
Remaining Amount |
Example: |
At the time of application, the Policy Owner elects to participate in Enhanced Dollar Cost Averaging and submits an initial Premium of $25,000 to be allocated to the Fixed Account, which will receive an enhanced interest crediting rate. He would like the Enhanced Dollar Cost Averaging transfers to be allocated as follows: 40% to Sub-Account L and 60% to Sub- Account M. Each month, Nationwide will automatically transfer Cash Value to the selected Sub-Accounts based on the schedule above (1/11 of the Cash Value will be transferred at the beginning of month 2; 1/10 of the Cash Value will be transferred at the beginning of month 3; etc.). |
Example: |
Policy Owner elects to participate in Asset Rebalancing and has instructed his Cash Value be allocated as follows and rebalanced on a quarterly basis: 40% to Sub-Account A, 40% to Sub-Account B, and 20% to Sub-Account C. Each quarter, Nationwide will automatically rebalance Policy Owner’s Cash Value by transferring Cash Value among the three elected Sub-Accounts so that his 40%/40%/20% allocation remains intact. |
Example: |
Assume: |
• Insured’s Issue Age was 45. • Policy Owner paid Premiums totaling $490,000 during the first 25 policy years. • Just prior to policy year 26 (Attained Age 70) the policy’s Cash Value is just over $1,000,000 and the Investment in the Contract is $490,000. • The Policy Owner completes an Automated Income Monitor election form and chooses a 5% gross rate of return, a goal of $100,000 Cash Surrender Value at Attained Age 95 and the Fixed Duration option for 25 years. • The first AIM In Force illustration is run that solves for an annual income amount at an assumed 5% gross rate of return and a goal of at least $100,000 of Cash Surrender Value at Attained Age 95. The result of the solve is an annual income amount of $66,720. A partial surrender of $66,720 will be processed and sent to the Policy Owner. Each year thereafter, if the Automated Income Monitor program has not been terminated, another illustration will be run with the same assumptions and income solve. The appropriate partial surrender amount based on each solve will be processed. This will continue until the entire $490,000 Investment in the Contract has been distributed through partial surrenders, then the income amounts will be processed as loans. |
Example: |
Assume the following: |
• The policy’s Cash Value is $43,000 and it is allocated entirely to the Sub-Accounts. |
• There is no existing Indebtedness. |
• The Policy Owner has requested a $6,000 policy loan at the beginning of the first Policy Year. |
*For reference, the maximum policy loan would be $38,700 = $43,000 x 90% - $0.00 (Indebtedness) |
Once the $6,000 loan is approved, $6,000 is paid directly to the Policy Owner from Nationwide. $6,000 is transferred from the Sub-Accounts to the policy loan account. This serves as collateral for Nationwide. The policy’s Indebtedness on the day of the loan is $6,000. |
• At the end of the first Policy Year, assume the only loan the Policy Owner requested was the $6,000 loan. Assuming the Policy Owner has not made any loan repayments, the Indebtedness at the end of the next occurring policy anniversary is $6,120 due to $120 of accrued loan interest during the year ($6,000 + $120 = $6,120). Should a claim for the Death Benefit Proceeds be made, the Proceeds would be reduced by the $6,120 Indebtedness. |
• Assuming no loan repayments are ever made, Indebtedness continues to accrue interest. All unpaid loan interest will also be treated as new policy loans and loan interest will continue to accumulate as Indebtedness |
• If the Policy Owner submits a loan repayment, the amount of the loan repayment will be transferred from the policy loan account and credited to the Cash Value. |
• If any Indebtedness exists when the Surrender Proceeds or Death Benefit Proceeds become payable, the Proceeds will be reduced by the total Indebtedness. |
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Underlying Mutual Fund and Adviser/Sub-Adviser |
Current Expenses |
Average Annual Total Returns (as of 12/31/2023) | ||
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10 year | |||
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AllianceBernstein Variable Products Series Fund, Inc. - AB VPS Sustainable Global Thematic Growth Portfolio: Class B) Investment Advisor: |
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Delaware Ivy Pathfinder Conservative: Class II) This Sub-Account is only available in policies issued before May 1, 2018 Investment Advisor: Subadvisor: |
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Delaware Ivy Pathfinder Moderate: Class II) This Sub-Account is only available in policies issued before May 1, 2018 Investment Advisor: Subadvisor: |
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Portfolios - Delaware Ivy Pathfinder Moderately Aggressive: Class II) This Sub-Account is only available in policies issued before May 1, 2018 Investment Advisor: Subadvisor: |
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State |
State Law Variations |
California |
• Right to Cancel – 30 day right to examine and cancel. Refund of the Cash Value in full, without any deductions for any applicable policy fees. Net Premium will be placed in the Fixed Account or a money-market Sub-Account unless directed otherwise. If invested in the Variable Account, refund will be the policy’s Cash Value, plus any policy fees paid. • Service Fee – The guaranteed maximum service fee is $5.00. • Long-Term Care Rider II – Loans and partial surrenders are permitted to be taken from the policy while the Rider benefit is being paid. • Accelerated Death Benefit for Critical Illness Rider is not available. |
Colorado |
• The Suicide provision for the Accidental Death Benefit Rider, Children’s Term Insurance Rider, and Spouse Life Insurance Rider is limited to one year. |
Delaware |
• Extends spousal rights to a party to a civil union. |
Florida |
• Long-Term Fixed Account Restrictions – We may not refuse additional Premium payments and/or transfers to the Long-Term Fixed Account. • Asset Rebalancing – We may not limit the number of Sub-Accounts and frequencies available for election. • There are no contractual restrictions on assignments. |
Illinois |
• Extends spousal rights to a party to a civil union. |
North Dakota |
• The Suicide provision for the Children’s Term Insurance Rider, Accelerated Death Benefit for Terminal Illness Rider, and Long-Term Care Rider is limited to one year. |
Pennsylvania |
• Premium Waiver Rider is not available. |
Vermont |
• Extends spousal rights to a party to a civil union. |
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Reference Index Values – Example 1 | ||
Index A |
Index B |
Index C | |
Sweep Date |
2131.33 |
10709.90 |
1221.34 |
Month 1 |
2187.21 |
10811.60 |
1238.02 |
Month 2 |
2227.01 |
11006.88 |
1260.22 |
Month 3 |
2364.06 |
10703.08 |
1302.35 |
Month 4 |
2263.90 |
11317.54 |
1257.26 |
Month 5 |
2352.82 |
12004.13 |
1351.06 |
Month 6 |
2588.09 |
11342.89 |
1380.90 |
Month 7 |
2362.55 |
11144.06 |
1311.46 |
Month 8 |
2215.51 |
10883.49 |
1267.03 |
Month 9 |
2176.53 |
11102.01 |
1214.62 |
Month 10 |
2219.34 |
11368.24 |
1231.86 |
Month 11 |
2234.46 |
10707.68 |
1286.33 |
Month 12 |
2154.78 |
10488.24 |
1132.89 |
Monthly Average Value (A÷B) |
2278.86 |
11073.32 |
1269.50 |
Reference Index Performance Rate |
6.92 % |
3.39 % |
3.94 % |
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Reference Index Values – Example 2 | ||
Index A |
Index B |
Index C | |
Sweep Date |
2131.33 |
10709.90 |
1221.34 |
Month 1 |
2111.90 |
10495.30 |
1185.49 |
Month 2 |
2146.28 |
10648.77 |
1195.43 |
Month 3 |
2122.75 |
10507.90 |
1193.81 |
Month 4 |
2151.95 |
10713.47 |
1211.59 |
Month 5 |
2178.14 |
10892.18 |
1227.26 |
Month 6 |
2202.11 |
10992.32 |
1233.72 |
Month 7 |
2238.84 |
11074.46 |
1254.57 |
Month 8 |
2282.31 |
11083.76 |
1265.63 |
Month 9 |
2209.50 |
10905.82 |
1221.11 |
Month 10 |
2216.78 |
11058.97 |
1239.17 |
Month 11 |
2249.03 |
11257.81 |
1250.82 |
Month 12 |
2277.12 |
11460.47 |
1259.35 |
Monthly Average Value (A÷B) |
2198.89 |
10924.27 |
1228.16 |
Reference Index Performance Rate |
3.17 % |
2.00 % |
0.56 % |
|
Reference Index Values – Example 3 | ||
Index A |
Index B |
Index C | |
Sweep Date |
2131.33 |
10709.90 |
1221.34 |
Month 1 |
2088.43 |
10564.18 |
1181.07 |
Month 2 |
2117.44 |
10703.71 |
1191.64 |
Month 3 |
2085.68 |
10564.49 |
1167.54 |
Month 4 |
2117.42 |
10423.29 |
1122.68 |
Month 5 |
2132.62 |
10627.09 |
1130.74 |
Month 6 |
2146.56 |
10672.57 |
1150.77 |
Month 7 |
2148.17 |
10732.57 |
1173.54 |
Month 8 |
2183.15 |
10819.64 |
1178.15 |
Month 9 |
2155.41 |
10876.41 |
1195.83 |
Month 10 |
2190.81 |
10506.11 |
1195.52 |
Month 11 |
2194.98 |
10220.01 |
1175.52 |
Month 12 |
2207.44 |
10366.71 |
1196.60 |
Monthly Average Value (A÷B) |
2147.34 |
10589.73 |
1171.63 |
Reference Index Performance Rate |
0.75 % |
-1.12 % |
-4.07 % |
|
Reference Index Value | ||
Example 1 |
Example 2 |
Example 3 | |
Sweep Date |
1775.32 |
1775.32 |
1775.32 |
Index Segment Maturity Date |
2350.70 |
1819.20 |
1740.88 |
Reference Index Performance Rate |
32.41 % |
2.47 % |
-1.94 % |
|
Reference Index Value | ||
Example 1 |
Example 2 |
Example 3 | |
Sweep Date |
1775.32 |
1775.32 |
1775.32 |
Index Segment Maturity Date |
2350.70 |
1819.20 |
1740.88 |
Reference Index Performance Rate |
32.41 % |
2.47 % |
-1.94 % |
|
Page |
2 | |
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4 | |
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President and Chief Operating Officer and Director |
Carter, John L. |
Executive Vice President-Chief Human Resources Officer |
Clements, Vinita J. |
Executive Vice President-Chief Technology Officer |
Fowler, James R. |
Executive Vice President and Director |
Frommeyer, Timothy G. |
Executive Vice President-Chief Legal Officer |
Howard, Mark S. |
Executive Vice President-Chief Marketing Officer |
Jones, Ramon |
Executive Vice President-Chief Customer, Strategy and Innovation Officer |
Mahaffey, Michael W. |
Executive Vice President-Chief Transformation Officer |
Shore, Amy T. |
Senior Vice President-NF Strategic Customer Solutions |
Ambrozy, Tina S. |
Senior Vice President-Strategic Planning |
Amodeo, Daniel W. |
Senior Vice President-Marketing Management - Financial Services |
Bair, Ann S. |
Senior Vice President-Corporate Controller and Chief Accounting Officer |
Benson, James D. |
Senior Vice President-Head of Taxation |
Biesecker, Pamela A. |
Senior Vice President-Marketing Content & Delivery |
Boyd, Michael A. |
Senior Vice President-Legal – NF |
Boyer, John N. |
Senior Vice President-Human Resources – IT & Legal |
Bretz, Angela D. |
Senior Vice President-Chief Technology Officer - Nationwide Financial |
Carrel, Michael W. |
Senior Vice President-Chief Investment Officer |
Coleman, Joel L. |
Senior Vice President-Chief Compliance Officer |
Dankovic, Rae Ann |
Senior Vice President-Chief Risk Officer |
Diem, Klaus K. |
Senior Vice President-External Affairs |
English, Steven M. |
Senior Vice President-Trial Division |
Failor, Scott E. |
Senior Vice President-Chief Financial Officer - Nationwide Financial and Director |
Ginnan, Steven A. |
Senior Vice President-Annuity Distribution |
Guymon, Rona |
Senior Vice President-Retirement Solutions Sales |
Hawley, Craig A. |
Senior Vice President-Nationwide Annuity and Director |
Henderson, Eric S. |
Senior Vice President-Corporate Operations & Litigation Legal |
Innis-Thompson, Janice |
Senior Vice President-Investment Management Group |
Jestice, Kevin T. |
Senior Vice President-Internal Audit |
Jordan, Gregory S. |
Senior Vice President-Chief Innovation and Digital Officer |
Kandhari, Chetan D. |
Senior Vice President-Chief Technology Officer – Technology Strategy, Data & Innovation |
Kolp, Melanie A. |
Senior Vice President and Treasurer |
LaPaul, David |
Senior Vice President-Chief Information Security Officer |
Lukens, Todd |
Senior Vice President-Marketing Management - P&C |
MacKenzie, Jennifer B. |
Senior Vice President-Technology CFO & Procurement |
O'Brien, Kevin G. |
Senior Vice President-Corporate Solutions |
Perez, Juan J. |
Senior Vice President-Talent & Organization Effectiveness |
Pheister, Erin R. |
Senior Vice President-Nationwide Retirement Institute |
Rodriguez, Kristi L. |
Senior Vice President-Corporate Real Estate |
Sherry, Kieran P. |
Senior Vice President-Finance & Strategy Legal and Corporate Secretary |
Skingle, Denise L. |
Senior Vice President-Nationwide Life and Director |
Snyder, Holly R. |
Senior Vice President-Total Rewards |
Sonneman, Christopher Paul |
Senior Vice President-Retirement Solutions |
Stevenson, Eric |
Senior Vice President-Chief Advanced Analytics Officer |
Terry, Shannon |
Senior Vice President-Chief Technology Officer – Property & Casualty |
Vasudeva, Guruprasad C. |
Senior Vice President-Human Resources - NF |
Webster, Cynthia S. |
Director |
Walker, Kirt A. |
Company |
Jurisdiction of Domicile |
Brief Description of Business |
Nationwide Financial Services, Inc. |
Delaware |
The company acts primarily as a holding company for companies within the Nationwide organization that offer or distribute life insurance, long-term savings and retirement products. |
NFS Distributors, Inc. |
Delaware |
The company acts primarily as a holding company for Nationwide Financial Services, Inc. companies. |
Nationwide Financial General Agency, Inc. |
Pennsylvania |
The company is a multi-state licensed insurance agency. |
Nationwide Fund Distributors, LLC |
Delaware |
The company is a limited purpose broker-dealer. |
Nationwide Fund Management, LLC |
Delaware |
The company provides administration, transfer and dividend disbursing agent services to various mutual fund entities. |
Nationwide Retirement Solutions, Inc. |
Delaware |
The company markets and administers deferred compensation plans for public employees. |
Nationwide Securities, LLC |
Delaware |
The company is a general purpose broker-dealer and investment adviser registered with the Securities and Exchange Commission. |
Nationwide Trust Company, FSB |
Federal |
This is a federal savings bank chartered by the Office of Thrift Supervision in the United States Department of Treasury to exercise deposit, lending, agency, custody and fiduciary powers and to engage in activities permissible for federal savings banks under the Home Owners’ Loan Act of 1933. |
Nationwide Financial Services Capital Trust |
Delaware |
The trust’s sole purpose is to issue and sell certain securities representing individual beneficial interests in the assets of the trust |
525 Cleveland Avenue, LLC |
Ohio |
This is a limited liability company organized under the laws of the State of Ohio. The company was formed to provide remedial real property cleanup prior to sale. |
Nationwide Life Insurance Company 2 |
Ohio |
The corporation provides individual life insurance, group and health insurance, fixed and variable annuity products and other life insurance products. |
Jefferson National Life Insurance Company2,3 |
Texas |
The company provides life, health and annuity products. |
Jefferson National Life Annuity Company C2,3 |
|
A separate account issuing variable annuity products. |
Jefferson National Life Annuity Account E2,3 |
|
A separate account issuing variable annuity products. |
Jefferson National Life Annuity Account F2,3 |
|
A separate account issuing variable annuity products. |
Jefferson National Life Annuity Account G2,3 |
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A separate account issuing variable annuity products. |
Jefferson National Life Insurance Company of New York2,3 |
New York |
The company provides variable annuity products. |
Company |
Jurisdiction of Domicile |
Brief Description of Business |
Jefferson National Life of New York Annuity Account 12,3 |
|
A separate account issuing variable annuity products. |
MFS Variable Account2,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Multi-Flex Variable Account2,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account2,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account-II2,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account-32,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account-42,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account-52,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account-62,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account-72,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account-82,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account-92,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account-102,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account-112,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account-122,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account-132,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account-142,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Variable Account-152,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Provident VA Separate Account 12,3 |
Pennsylvania |
A separate account issuing variable annuity contracts. |
Nationwide VLI Separate Account2,3 |
Ohio |
A separate account issuing variable life insurance policies. |
Nationwide VLI Separate Account-22,3 |
Ohio |
A separate account issuing variable life insurance policies. |
Nationwide VLI Separate Account-32,3 |
Ohio |
A separate account issuing variable life insurance policies. |
Nationwide VLI Separate Account-42,3 |
Ohio |
A separate account issuing variable life insurance policies. |
Nationwide VLI Separate Account-52,3 |
Ohio |
A separate account issuing variable life insurance policies. |
Nationwide VLI Separate Account-62,3 |
Ohio |
A separate account issuing variable life insurance policies. |
Nationwide VLI Separate Account-72,3 |
Ohio |
A separate account issuing variable life insurance policies. |
Nationwide Provident VLI Separate Account 12,3 |
Pennsylvania |
A separate account issuing variable life insurance policies. |
Nationwide Investment Services Corporation3 |
Oklahoma |
This is a limited purpose broker-dealer and distributor of variable annuities and variable life products for Nationwide Life Insurance Company and Nationwide Life and Annuity Insurance Company. The company also provides educational services to retirement plan sponsors and its participants. |
Nationwide Financial Assignment Company3 |
Ohio |
The company is an administrator of structured settlements. |
Nationwide Investment Advisors, LLC3 |
Ohio |
The company provides investment advisory services. |
Eagle Captive Reinsurance, LLC3 |
Ohio |
The company is engaged in the business of insurance |
Nationwide Life and Annuity Insurance Company2,3 |
Ohio |
The company engages in underwriting life insurance and granting, purchasing and disposing of annuities. |
Nationwide VA Separate Account-A2,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide VA Separate Account-B2,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide VA Separate Account-C2,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide VA Separate Account-D2,3 |
Ohio |
A separate account issuing variable annuity contracts. |
Nationwide Provident VA Separate Account A2,3 |
Delaware |
A separate account issuing variable annuity contracts. |
Nationwide VL Separate Account-C2,3 |
Ohio |
A separate account issuing variable life insurance policies. |
Company |
Jurisdiction of Domicile |
Brief Description of Business |
Nationwide VL Separate Account-D2,3 |
Ohio |
A separate account issuing variable life insurance policies. |
Nationwide VL Separate Account-G2,3 |
Ohio |
A separate account issuing variable life insurance policies. |
Nationwide Provident VLI Separate Account A2,3 |
Delaware |
A separate account issuing variable life insurance policies. |
Olentangy Reinsurance, LLC3 |
Vermont |
The company is a captive life reinsurance company. |
Nationwide SBL, LLC |
Ohio |
The company is a lender offering securities-back lines of credit. |
Registered Investment Advisors Services, Inc. |
Texas |
The company is a technology company that facilitates third-party money management services for registered investment advisors |
Nationwide Fund Advisors4 |
Delaware |
The trust acts as a registered investment advisor. |
Jefferson National Life Annuity Account C |
Nationwide Variable Account-14 |
Jefferson National Life Annuity Account E |
Nationwide Variable Account-15 |
Jefferson National Life Annuity Account F |
Nationwide VA Separate Account-A |
Jefferson National Life Annuity Account G |
Nationwide VA Separate Account-B |
Jefferson National Life of New York Annuity Account 1 |
Nationwide VA Separate Account-C |
MFS Variable Account |
Nationwide VA Separate Account-D |
Multi-Flex Variable Account |
Nationwide VLI Separate Account |
Nationwide Variable Account |
Nationwide VLI Separate Account-2 |
Nationwide Variable Account-II |
Nationwide VLI Separate Account-3 |
Nationwide Variable Account-3 |
Nationwide VLI Separate Account-4 |
Nationwide Variable Account-4 |
Nationwide VLI Separate Account-5 |
Nationwide Variable Account-5 |
Nationwide VLI Separate Account-6 |
Nationwide Variable Account-6 |
Nationwide VLI Separate Account-7 |
Nationwide Variable Account-7 |
Nationwide VL Separate Account-C |
Nationwide Variable Account-8 |
Nationwide VL Separate Account-D |
Nationwide Variable Account-9 |
Nationwide VL Separate Account-G |
Nationwide Variable Account-10 |
Nationwide Provident VA Separate Account 1 |
Nationwide Variable Account-11 |
Nationwide Provident VA Separate Account A |
Nationwide Variable Account-12 |
Nationwide Provident VLI Separate Account 1 |
Nationwide Variable Account-13 |
Nationwide Provident VLI Separate Account A |
President and Director |
Ambrozy, Tina S. |
Senior Vice President-Head of Taxation |
Biesecker, Pamela A. |
Senior Vice President and Secretary |
Skingle, Denise L. |
Vice President-Tax |
Eppley, Daniel P. |
Vice President and Assistant Secretary |
Garman, David A. |
Vice President-Chief Compliance Officer |
Rabenstine, James J. |
Vice President-CFO – Life Insurance |
Wild, Keith D. |
Associate Vice President and Treasurer |
Roswell, Ewan T. |
Associate Vice President and Assistant Treasurer |
Hacker, Hope C. |
Associate Vice President and Assistant Treasurer |
Reese, John A. |
Associate Vice President and Assistant Treasurer |
Walker, Tonya G. |
Assistant Secretary |
Bowman, Heidi |
Assistant Secretary |
Dokko, David |
Assistant Secretary |
Hartman, Mark E. |
Director |
Henderson, Eric S. |
Director |
Stevenson, Eric |
Name of Principal Underwriter |
Net Underwriting Discounts |
Compensation on Redemption |
Brokerage Commissions |
Other Compensation |
Nationwide Investment Services Corporation |
N/A |
N/A |
N/A |
N/A |
Nationwide VL Separate Account-G |
(Registrant) |
Nationwide Life and Annuity Insurance Company |
(Depositor) |
By: /s/ Jamie Ruff Casto |
Jamie Ruff Casto Attorney-in-Fact |
JOHN L. CARTER |
|
John L. Carter, President and Chief Operating Officer and Director (Principal Executive Officer) |
|
HOLLY R. SNYDER |
|
Holly R. Snyder, Senior Vice President and Director |
|
TIMOTHY G. FROMMEYER |
|
Timothy G. Frommeyer, Executive Vice President and Director |
|
ERIC S. HENDERSON |
|
Eric S. Henderson, Senior Vice President-Nationwide Annuity and Director |
|
STEVEN A. GINNAN |
|
Steven A. Ginnan, Senior Vice President-Chief Financial Officer-Nationwide Financial and Director (Chief Financial Officer) |
|
KIRT A. WALKER |
|
Director |
|
JAMES D. BENSON |
|
James D. Benson, Senior Vice President-Corporate Controller and Chief Accounting Officer (Principal Accounting Officer) |
|
|
By: /s/ Jamie Ruff Casto |
|
Jamie Ruff Casto Attorney-in-Fact |