Nationwide Financial Services has launched a new product Nationwide YourLife Term II, which makes it easy for financial professionals to provide their clients with term life insurance.
According to Nationwide, the new product offers clients the ability to convert both base policy and spouse and children’s term life insurance riders from temporary to permanent insurance if their needs change; adds 15-year term option, 10-year term option, 20-year or a 30-year term option.
In addition, the YourLife Term II gives clients control over their death benefit by allowing them to structure the payments according to their beneficiary’s needs.
Peter Golato, senior vice president of Nationwide Financial, said: “Nationwide YourLife Term II was specifically designed to simplify the process for both financial professionals and their clients and is a great option for young families who are looking for affordable temporary protection.
“Adding life insurance to their product offerings is a great way for financial professionals to deepen relationships and retain more of their client base. By simplifying the life insurance process we hope that more financial professionals will take advantage of this opportunity to grow their business and help their clients protect what matters most.”