Nationwide Life Insurance
A life insurance policy that pays you while you're still living.
Cancer. Heart attack. Stroke. Alzheimer's. The hardest moments of your life don't have to drain your savings. Nationwide includes three living benefit riders on most of their life policies — at no upfront cost. Most other carriers either don't offer them, or charge extra to add them on.
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The bottom line
Three ways your policy can write you a check before it ever pays a death benefit.
- Chronic Illness — up to 20% of your death benefit each year
- Critical Illness — up to $25,000 per event, 5 events allowed
- Terminal Illness — up to 50% advanced, no waiting
Cost to add at policy issue
$0
No upfront monthly rider charge. Reduction only applies if and when you actually claim.
Why this matters
Life insurance was built for the wrong problem.
Traditional life insurance assumes the worst-case scenario is dying. For modern families, the worst case is often living through a serious illness with a giant bill and no income. Nationwide's living benefits flip that math.
70% of Americans 65+ will need long-term care
Source: U.S. Department of Health & Human Services. The average stay is 3 years. The average cost is $9,000+/month for a private room.
Heart disease and cancer hit before retirement
1 in 3 Americans will face a critical illness before age 65. The first-year out-of-pocket cost averages $40,000+ even with good health insurance.
Most retirement plans assume you'll stay healthy
A single critical illness or 2-year LTC stay can wipe out 30+ years of savings. Living benefits move that risk OFF your nest egg.
The three living benefits
Three triggers. One policy. Cash when you need it most.
Nationwide calls these "Living Access Benefits." In plain English: the death benefit you bought for your family becomes a check you can cash while you're still here — if something goes seriously wrong.
Living benefit #1
Chronic Illness Benefit
What triggers it
- Severe cognitive impairment (Alzheimer's, dementia) needing substantial supervision
- Unable to perform 2 of 6 Activities of Daily Living without help (bathing, dressing, eating, toileting, transferring, continence)
Maximum benefit
Up to 20% of the death benefit per year (or HIPAA daily rate × 365), paid as a lump sum.
Who it's really for
The family member who's slowly losing independence — and needs cash now to bring in help, modify the home, or stop working to provide care.
Living benefit #2
Critical Illness Benefit
What triggers it
- Cancer
- Heart attack
- Stroke
- Heart valve replacement
- Major organ transplant
- Kidney failure
- Paralysis
- Sudden cardiac arrest
Maximum benefit
Lesser of 10% of the death benefit or $25,000 per event, lump sum — up to 5 claims allowed.
Who it's really for
Anyone facing the diagnosis no one plans for. Cash to cover out-of-pocket treatment, lost income, travel for care, or just keeping the lights on while you fight.
Living benefit #3
Terminal Illness Benefit
What triggers it
- Diagnosed with a terminal illness, life expectancy of 12 months or less
Maximum benefit
Up to 50% of the base death benefit (between $10,000 and $250,000) advanced before death.
Who it's really for
The family that needs to make the final months count — paying off debts, settling affairs, or just having one last great trip together.
Nationwide vs. the rest
Why this combo is unusual in the industry.
I shop dozens of carriers. Most of them either don't offer a chronic or critical illness rider — or they sell it as a paid add-on. Nationwide builds all three into the chassis of nearly every policy they issue.
Feature
Nationwide
Many other carriers
Chronic illness rider
Included on most policies, no upfront cost
Optional add-on with monthly charge — or not available
Critical illness rider
Included on most policies, no upfront cost
Rarely offered, or sold as a separate standalone product
Terminal illness rider
Included on most policies
Often included, but with smaller caps or longer waiting period
Payment style
Lump-sum cash indemnity — spend on anything
Reimbursement only — submit receipts for qualifying expenses
Available on term policies
Yes (15/20/30-year term, ages 18–55)
Almost never on term — permanent only
Cost to add at policy issue
$0 upfront monthly charge
Often 5–15% premium load if available at all
*General industry comparison based on commonly available riders across leading U.S. life insurance carriers as of 2024. Specific terms and availability vary by carrier, product, state, and issue age. We'll show you side-by-side illustrations for your exact scenario.
Real-life scenarios
What this looks like at the kitchen table.
Three composite stories that show how the same Nationwide policy can rescue three very different families.
Stage 2 breast cancer at 47
Sarah, $500,000 Nationwide IUL
Diagnosed Tuesday. Surgery scheduled in two weeks. Her insurance covers most of treatment — but she's the breadwinner, and she'll be out of work 4–6 months.
What the policy did
Files a Critical Illness claim. Receives a $25,000 lump-sum check inside 30 days. Files again next year — another $25,000.
→ She doesn't drain the 401(k). She doesn't take a HELOC. She fights cancer without fighting her finances.
Alzheimer's at 71
Frank, $750,000 Nationwide policy
Diagnosed two years ago. His wife is now bathing him and helping him dress. They need 30 hours/week of in-home help — $5,200/month locally.
What the policy did
Files a Chronic Illness claim. Receives up to $150,000 (20% of death benefit) per year as a lump sum, tax-free in most cases, no receipts required.
→ He stays home with his wife. They never touch the IRA. The remaining death benefit still passes to the kids.
Stage 4 pancreatic cancer at 62
Mark, $400,000 Nationwide term policy
Given 6–9 months. He wants his wife mortgage-free, his daughter's wedding paid for, and one last family trip to Italy.
What the policy did
Files a Terminal Illness claim. Receives $200,000 (50%) advanced from the death benefit while he's still here.
→ He sees it done. The mortgage is paid. The wedding is funded. The trip happens. The remaining $200,000 still pays at death.
The cash indemnity advantage
Lump-sum cash. No receipts. No hoops.
A lot of "living benefit" riders on the market are reimbursement-style: you spend the money first, save every receipt, submit the claim, and wait. Nationwide pays cash indemnity — they cut you a check, and you decide what to do with it.
- Pay a family caregiver — including your spouse or adult child
- Hire informal help, not just licensed agencies
- Cover the mortgage, groceries, or insurance premiums
- Modify the home — ramps, walk-in shower, stair lift
- Replace lost income while you're out of work
- Travel for treatment at a top hospital
Lock it in while you're healthy.
Here's the part most people miss: living benefits are not something you can add after you get sick. You qualify for them through underwriting today — before the diagnosis.
Once you've had cancer, a heart event, or a cognitive screening, your options collapse. The cheapest, most powerful living benefit you'll ever buy is the one you put in place this year.
The fine print, in English
How a claim actually works.
01
Qualifying event
You're diagnosed with a covered condition. Your doctor certifies it (and for chronic, that it's expected to last the rest of your life).
02
Request the benefit
You (or your power of attorney) file a one-page claim. There's a $250 administrative fee — and that's it. No upfront rider premiums to recoup.
03
Cash hits your account
Nationwide pays a lump sum, usually within weeks. The remaining death benefit is reduced by an actuarial factor — but a meaningful death benefit is preserved for your family.
Two things to understand honestly.
- Accelerating reduces the death benefit. Every dollar you take while living reduces the future death benefit — by more than $1 (an actuarial discount). That's the trade-off, and it's spelled out in your policy.
- Tax treatment varies. Most chronic and terminal benefits are tax-free under IRC §101(g) if you meet the conditions. Critical illness benefits may be taxable. Always confirm with your CPA.
About the carrier
Why Nationwide is one of the carriers I trust.
98+ years strong
Founded 1926. One of the largest mutual insurance & financial services groups in the U.S.
A+ rated (A.M. Best)
Superior ability to meet ongoing insurance obligations. Stable outlook.
Fortune 100 company
Hundreds of billions in assets under management. They're not going anywhere.
Living benefits across the lineup
Term, IUL, VUL, whole life, no-lapse UL — almost all eligible for the three living benefits.
Common questions.
What it costs to have it — vs. not.
Without living benefits
- • Diagnosis hits. Your life insurance does nothing.
- • You drain retirement accounts at the worst tax moment.
- • A spouse leaves work to provide care — lost wages, lost Social Security credits.
- • Home gets sold or HELOC'd to cover care costs.
- • Death benefit eventually pays — but the damage is already done.
With Nationwide living benefits
- • Diagnosis hits. You file a claim. Cash arrives within weeks.
- • Retirement accounts stay invested and untouched.
- • Spouse can stay home and be paid as the caregiver.
- • Home stays in the family. No forced sales.
- • A reduced death benefit still passes to your beneficiaries.
Let's see what your numbers look like.
In 20 minutes I'll show you exactly what a Nationwide policy with all three living benefits would cost you, and compare it side-by-side with two other top carriers. No pressure, no obligation — just real numbers.
Important — educational illustration only
The figures shown are hypothetical and produced by a simplified model for education and discussion only. They are not a quote, projection, recommendation, or guarantee of future results. Actual outcomes vary based on your individual circumstances — including age, health, income, tax filing status, state of residence, time horizon, market performance, product design, carrier underwriting, and changes in tax law. Tax-advantaged strategies referenced (e.g., Roth conversions, cash value loans, qualified plan withdrawals) carry rules and consequences that depend on your specific situation; cash value life insurance assumes the contract is properly structured (non-MEC) and remains in force. Nothing on this page constitutes tax, legal, accounting, or individualized investment advice. Please consult your own licensed tax professional, attorney, and financial advisor before acting on any concept presented here.
Keep exploring
Related resources worth your time
More on protecting your family with the right life policy.
Understanding Life Insurance
Start here — term vs. permanent, how much you need, and what to avoid.
Read moreNationwide CareMatters
The dedicated LTC version — a hybrid life/long-term care policy.
Read morePaid While You're Living
A broader look at living benefits across the industry.
Read moreLTC Rider vs. Chronic Illness Rider
How chronic illness riders compare to true LTC coverage.
Read more