Before buying a life insurance policy, be sure you understand the policy charges and fees. Insurance companies deduct some industry standard fees from your premium and cash value. Keep in mind that these charges vary by product.
This is the actual cost of having insurance protection. It’s based on your age, gender, health and death benefit amount. This fee is usually charged once a month.
These charges compensate us for sales expenses and state and local taxes. Charges are deducted from your premium payment before it is applied to the policy.
These fees are used to pay the costs of maintaining the policy, including accounting and recordkeeping. Administration fees usually are deducted from your policy value once a month.
This charge is based on your age, gender and underwriting classification. This charge is assessed monthly.
This charge is deducted from your cash value if you surrender (terminate) your policy during your surrender charge period. Be sure to check the length of your surrender charge period when evaluating a policy to buy.
When we issue a policy, we estimate you’ll live to a certain age based on your current age, gender and health. A mortality & expense charge compensates us if you don’t live to the estimated age. This charge is generally charged once a month.
These fees compensate the fund managers for their work. Fund management fees are usually deducted from the price paid for the shares of underlying fund options, and not directly from your cash value.
You need to work with an insurance professional to buy this type of product. If you don't have one, our life insurance specialists are here to help.
Give us a call today at 1-855-863-9639 for a no-obligation consultation.
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• Not a deposit • Not FDIC or NCUSIF insured • Not guaranteed by the institution • Not insured by any federal government agency • May lose value
This material is not a recommendation to buy or sell a financial product or to adopt an investment strategy. Investors should discuss their specific situation with their financial professional.
Life and annuity products are issued by Nationwide Life Insurance Company or Nationwide Life and Annuity Insurance Company, Columbus, Ohio. The general distributor for variable products is Nationwide Investment Services Corporation (NISC), member FINRA, Columbus, Ohio. The Nationwide Retirement Institute is a division of NISC. Nationwide Funds are distributed by Nationwide Fund Distributors, LLC, Member FINRA, Columbus, OH. Nationwide Life Insurance Company, Nationwide Life and Annuity Company, Nationwide Investment Services Corporation and Nationwide Fund Distributors are separate but affiliated companies.
The Nationwide Group Retirement Series includes unregistered group fixed and variable annuities issued by Nationwide Life Insurance Company. It also includes trust programs and trust services offered by Nationwide Trust Company, FSB.
Nationwide, the Nationwide N and Eagle, Nationwide is on your side and Nationwide Retirement Institute are service marks of Nationwide Mutual Insurance Company.
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