Nationwide’s Term plus Perm program an ideal solution in a changing landscape

As life insurance carriers continue to exit the business, what happens to all of the conversion possibilities of the 100,000’s of term policies on the books?

Nationwide is doubling down on providing protection where others aren’t.

The TERM plus PERM program is an ideal option for conversions, as clients can potentially get permanent coverage without labs/exam/APS (assuming no health changes) on term policies written by other carriers and less than three years old.

This IS NOT an “exchange program”. 

Nationwide is simply allowing up to a 3 year old file (plus new MIB) to assess new PERM coverage. 

The insured does NOT need to replace the term. 

What are the steps?

1) Sort XYZ carrier term cases written in the last 30 months

2) Sort out any that were accelerated (no exam)

3) Sort out any that were worse than STD

4) Run NW illustration for GUL/IUL/VUL

Once again, Nationwide does not require anyone to lapse/terminate term coverage under this program (as long as they qualify for additional coverage).