I’ve been selling Nationwide’s IUL since it came out. There are two new IUL’s from that hit the streets this month, along with a suite of enhancements that combine to make them an interesting choice for advisors looking for a carrier they can trust in the IUL market. Read on for the details! Here’s a high level overview of what you can expect.
Here are a few key enhancements:
- A broad range of indexed interest strategies: 7 allocation options including our popular Multi-index Monthly Average allow policy holders to shift strategies as market conditions change.
- High cap rate option: The top cap rate is now 25% versus 13% previously.
- Larger multiplier: The Nationwide Multiplier and Nationwide Advanced Multiplier are additive, which means the potential for an additional 65% credit (starting in year 6)
- Enhanced Rewards Program: Now includes pro rata interest on loans or partial withdrawals from an index segment (in Nationwide IUL Accumulator II)
- Better policy management: New services include online pending life business tracker, online policy performance tracking, two new DCA programs and more
Take a look at the transition rules:
Application Signed Date: Friday, March 1, 2019:
- Old product: applications for an old product must be signed on or before March 1, 2019 to be eligible for the product.
- New product: applications signed after March 1, 2019 will be considered an application for a new product, contingent upon state approval.
Application Received Date: Friday, March 15, 2019:
- Old product: applications for an old product must be received in the Home Office on or before March 15, 2019 to be eligible for the product.
- New product: applications received after March 15, 2019 will be considered an application for a new product regardless of the application signed date.
Funding Deadline: Friday, May 10, 2019:
- Old product: In addition to the above deadlines, the policy must also be in force and funded by May 10, 2019.
Download a product guide and take a look!
- Nationwide’s IUL Resource Guide
- IUL Accumulator II Producer Guide
- IUL Accumulator II Client Guide
- IUL Protector II Producer Guide
- IUL Protector II Client Guide
- Transition Rules
If you have questions about these products, give me a call at 913.402.7703