Nationwide Financial Services has launched a new version of its YourLife suite of life insurance products, Nationwide YourLife Protection VUL, a flexible premium, adjustable, variable universal life product with a guarantee death benefit rider.

All protections and guarantees are subject to the claims-paying ability of the issuing life insurance company. Nationwide YourLife Protection VUL is an accumulation and death benefit protection variable universal life (VUL) product that can adjust to each client as his or her life changes. It offers a death benefit guarantee rider, an investment lineup and simple policy- management tools.

Peter Golato, senior vice president for Nationwide Financial, said: This product can be used to meet many market needs. However, the primary client is between 30 and 50 years old in the higher middle-income market.

He or she has a small amount of flexible income and prefers to pay a lower level annual premium until his or her discretionary income builds. Generally, the client is looking for death benefit protection in amounts from GBP150,000 to GBP750,000.