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Paperless delivery preferences for clients

Starting last month, some of your clients with an active online account began receiving notices in the mail regarding paperless delivery preferences for policies starting with B5, N5 or 8. When clients choose to receive their Life documents electronically, they will receive paperless email notifications and will be able to access their documents by logging into their online accounts. Paperless delivery preferences not only help the environment, but also improves the security and protection of clients’ sensitive information.

If a client has no document delivery preference selected and currently receives paper documents, the notice will inform them of a deadline to make a selection. If no selection is made by the stated date, the client will be automatically enrolled in paperless delivery preferences.

Regardless of their selection, clients will still receive some specific important documents that we are requiring to be sent via traditional mail. These documents will also be available to view in their online accounts.
 

Reminder: Nationwide® IUL 2020 and CareMatters® products: fixed interest rate increases

We’re pleased to share our 0.25% fixed rate increase in the following Nationwide products, effective April 1, 2024:

  • Nationwide IUL Accumulator II 2020
  • Nationwide IUL Protector II 2020
  • Nationwide Survivorship IUL 2020
  • Nationwide CareMatters II
  • Nationwide YourLife CareMatters (NY)

Our IUL 2020 products’ fixed rate is 3.75%. Our CareMatters products’ fixed rate is 2.25%. Learn more about the fixed rate increases here.
 

Reminder: Nationwide’s Advanced Premium Deposit Rate increasing to 3.5%, effective April 1, 2024

Good news for clients seeking to prepay premiums! Nationwide is increasing the interest rate on our Advanced Premium Deposit Fund again, this time to 3.5% effective April 1, 2024. Policyholders already using the account will automatically receive the higher rate. Learn more about the Advanced Premium Deposit Fund here.
 

Nationwide CareMatters® II Price Improvement in California – April 1, 2024

Beginning June 12, 2023, Nationwide began implementing a price improvement across all scenarios for the current CareMatters® II product. It represented a price decrease for all scenarios, which varies by the characteristics of the case.

This price improvement required state approvals; thus, the rollout of the price improvement took several months. We’re pleased to announce that we now have approval for the repricing in all states including California.

The pricing improvement in California is effective April 1, 2024.

YourLife CareMatters® in New York will not be affected by this change.

In addition, to make CareMatters II more accessible to more clients, Nationwide has lowered the minimum LTC benefit from $2,500 a month to $1,500 a month. The minimum is $1,550 in California. The states of Wisconsin, South Dakota and Vermont also require higher minimums.

Please see the Transition Guidelines for more details and applicable states where this change is taking effect.

 
Questions?
For more information, call Nationwide’s National Sales Desk at 800‑321‑6064 or visit nationwidefinancial.com.
 

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