Nationwide Life Insurance Company is a Fortune 72 mutual insurer headquartered in Columbus, Ohio. With an A+ (Superior) rating from AM Best and nearly 100 years in business, Nationwide offers term, whole, and universal life insurance policies. The company is known for strong financial stability, low customer complaint rates, and flexible coverage options.
If you’re shopping for life insurance, there’s a good chance Nationwide is on your list. As one of the largest financial services companies in the country, Nationwide has built a reputation for stability and reliability over nearly a century.
But is Nationwide the right fit for your life insurance needs? In this review, we’ll break down the company’s financial strength, life insurance products, available riders, and the pros and cons you should know before making a decision.
Nationwide Life Insurance at a Glance
| Detail | Info |
|---|---|
| Founded | 1926 |
| Headquarters | Columbus, Ohio |
| Company Type | Mutual (owned by policyholders) |
| AM Best Rating | A+ (Superior), affirmed November 2025 |
| S&P Rating | A+ |
| Moody’s Rating | A1 |
| Fortune Ranking | No. 72 (2025) |
| Total Investments | $150 billion (2024) |
| Employees | Approximately 24,000 |
| J.D. Power Ranking | No. 3 in 2025 U.S. Life Insurance Study |
| Life Insurance Products | Term, Whole, Universal, Indexed Universal, Variable Universal |
Nationwide’s Financial Strength
One of the first things to look at when evaluating any life insurance company is its financial strength. You want to know the company can pay claims 10, 20, or even 50 years from now.
Nationwide scores well here. AM Best, the most widely referenced rating agency for insurance companies, gave Nationwide Life Insurance Company an A+ (Superior) rating. That’s the second-highest rating tier out of 16 possible levels. AM Best most recently affirmed this rating in November 2025.
Standard & Poor’s also rates Nationwide’s life insurance companies at A+, and Moody’s assigns an A1 rating. All three ratings point to strong financial health and a reliable ability to meet policyholder obligations.
Nationwide is a mutual company, which means it’s owned by its policyholders rather than public shareholders. This structure allows the company to focus on long-term stability instead of short-term stock performance. With $150 billion in total investments as of 2024, Nationwide has significant financial resources backing its policies.
Nationwide Term Life Insurance
Term life insurance is Nationwide’s most straightforward and affordable coverage option. It provides a death benefit for a set period of time, and if you pass away during that term, your beneficiaries receive a tax-free payout.
Nationwide offers term life in 10, 15, 20, and 30-year terms. Premiums stay level for the entire term you choose, so your monthly payment won’t increase.
Nationwide has two main term life options. The Guaranteed Level Term policy is their traditional term product. It may require a medical exam and offers coverage amounts above $1.5 million. At the end of your term, you can renew annually up to age 95 or convert to a permanent policy without proving you’re still in good health. That conversion feature is valuable if your needs change down the road.
Nationwide also offers Life Essentials, a no-medical-exam life insurance term policy. This option is available in 10 or 20-year terms with death benefits up to $1.5 million. Issue ages range from 21 to 55. If you want coverage quickly without scheduling a medical exam, Life Essentials can be a solid choice.
Nationwide Permanent Life Insurance
For those who want coverage that lasts a lifetime, Nationwide offers several permanent life insurance options.
Their whole life insurance policy provides a guaranteed death benefit and builds cash value at a fixed rate over time. You can choose to pay premiums until age 100, or go with a 20-year pay option where the policy is fully paid up after 20 years. There’s also a single-premium whole life option with a minimum payment of $10,000.
Nationwide also offers universal life, indexed universal life, and variable universal life policies. These permanent options give policyholders more flexibility with premiums and death benefit amounts. The indexed and variable products tie cash value growth to market indexes or underlying investment funds.
Keep in mind that permanent life insurance is more complex and significantly more expensive than term life. For most families looking for straightforward death benefit protection, term life insurance covers the need at a fraction of the cost.
Available Riders
Riders let you customize your Nationwide life insurance policy to better fit your situation. Here are the key riders available:
Accelerated Death Benefit Rider allows you to access a portion of your death benefit early if you’re diagnosed with a terminal illness. This money can help cover medical bills or other expenses. Any amount used reduces the final payout to your beneficiaries.
Premium Waiver Rider credits your monthly premiums if you become disabled and can’t work. There’s a six-month waiting period, and the benefit amount depends on your policy size. This rider may end when the policy expires or when you reach a certain age.
Children’s Term Insurance Rider provides a small death benefit covering your children, including biological, step, and legally adopted children who are at least 15 days old. Children adopted after the policy is issued are also covered.
Spouse Rider adds level term life insurance coverage for your spouse. It can be converted to a whole life policy at certain times or when your spouse reaches a specific age.
Rider availability and costs vary by policy type. Not all riders are available with every Nationwide product.
Pros and Cons of Nationwide Life Insurance
What Nationwide Does Well
- Strong financial ratings from AM Best (A+), S&P (A+), and Moody’s (A1)
- Low customer complaint rate, just 8% of expected complaints for a company its size according to 2024 NAIC data
- High customer satisfaction, ranked No. 3 in J.D. Power’s 2025 U.S. Life Insurance Study
- No-exam term life option (Life Essentials) for faster coverage
- Conversion option lets you switch from term to permanent without a new health evaluation
- Mutual company structure focused on policyholders, not shareholders
- Wide range of policy types and riders for customization
Where Nationwide Falls Short
- Term life rates can run higher than average for younger adults (ages 18-21)
- Not all policies can be purchased or managed online
- Permanent life products (IUL, VUL) are complex and may carry higher fees
- No dedicated final expense or burial insurance product
Frequently Asked Questions
Is Nationwide a good life insurance company?
Nationwide is a financially strong insurer with an A+ rating from AM Best and nearly 100 years of history. The company also ranks No. 3 in J.D. Power’s 2025 customer satisfaction study and has a very low complaint rate. For term life insurance buyers, Nationwide is a solid option worth considering.
Does Nationwide offer no-medical-exam life insurance?
Yes. Nationwide’s Life Essentials policy is a no-exam term life option available in 10 or 20-year terms with coverage up to $1.5 million. It’s available for applicants ages 21 to 55.
Can you convert a Nationwide term policy to permanent coverage?
Yes. Nationwide’s Guaranteed Level Term policy includes a conversion feature that lets you switch to permanent life insurance without a new medical exam or health questions. This can be helpful if your needs change over time.
Does Nationwide sell final expense insurance?
Nationwide does not offer a dedicated final expense or burial insurance product. If you’re looking specifically for final expense coverage, an independent agent can help you compare options from carriers that specialize in this type of policy.
How do Nationwide’s rates compare to other life insurance companies?
Nationwide’s term life rates are competitive with other large traditional insurers. Rates vary based on your age, health, coverage amount, and term length. The best way to see how Nationwide stacks up is to compare quotes from multiple carriers side by side.
Key Takeaways
- Nationwide is a financially strong mutual insurer with an A+ (Superior) AM Best rating, affirmed November 2025.
- The company offers both term and permanent life insurance, along with a no-exam option (Life Essentials) for faster coverage.
- Nationwide ranks No. 3 for customer satisfaction in J.D. Power’s 2025 life insurance study and has one of the lowest complaint rates in the industry.
- Term life is typically the most affordable option for families who need straightforward death benefit protection.
- Comparing quotes from multiple carriers is the best way to find the right coverage at the best rate for your situation.
Ready to see how Nationwide’s rates compare? Use our free quote tool to get term life insurance quotes from 30+ top-rated carriers in minutes. Or call us at 800-712-8519 to speak with a licensed agent who can help you find the right fit.
