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Nationwide Product Overview: Nationwide VUL Accumulator

On Monday, August 14th, Nationwide released the new Nationwide VUL Accumulator, replacing YourLife Accumulation VUL.

Greatly improving upon its predecessor’s middling position in both income and endowment scenarios, VUL Accumulator returns as one of the strongest players for the retirement income market, and also updates some notable features in the process.

With improved income by an average of about 12% across the board, VUL Accumulator finds itself nestling right up to the leaders as a now strong first quartile contender in much of its market. Distribution amounts are also within 5% of the market leader almost across the board, further strengthening VUL Accumulator’s narrative. One possible factor for this strong leap forward is the inclusion of the now guaranteed persistency credit as detailed below.

With the release, two important features received updates: the persistency credit and their Long-Term Care Rider. What was previously a non-guaranteed 0.20% non-guaranteed persistency credit beginning in year 11 is now upped to 0.40%, guaranteed, and begins in year 16 (for ages under 55), and is now referred to as the Nationwide VUL Rewards ProgramSM. Guaranteed status is dependent upon client’s premium payments reaching and staying over fixed thresholds. The Long-Term Care Rider II is available on VUL Accumulator, which allows for greater acceleration amounts (2%, 3%, and 4%) than the original rider and includes couple’s discount on pricing.

Endowment scenarios experienced similar success as the distributions, updating and improving premiums amounts by significant levels, but without as much of a splash. When illustrating at an 8% gross return, premiums are competitive for ages 25-50. While premiums improved for 6% gross returns, only a few scattered scenarios found the first quartile. However, strong banding on this product pushes premium positioning further down the line, restricting competitive scenarios by and large to higher face amounts.

Targets are extremely competitive for ages 50+ for endowment scenarios and ages 45 and under for income scenarios. This produce is offered with a 2-year rolling target.

CLICK HERE to view the VUL Accumulator MaxDist Snapshots PDF

CLICK HERE to view the VUL Accumulator vs. YourLife Accumulation VUL MaxDist PDF

CLICK HERE to view the VUL Accumulator Endow Snapshots PDF

CLICK HERE to view the VUL Accumulator vs. YourLife Accumulation Endow PDF