Inaya Mclaughlin
The Nationwide New Heights® Indexed Universal Life Accumulator 2020 (New Heights IUL) is a form of fixed life insurance that offers the same core benefits as traditional universal life insurance. It allows you to take loans and withdrawals without the risk of your policy lapsing. Once the cash value has accumulated in your policy, you can access it via policy loans and withdrawals. This feature is tax-free, with no penalties for accessing funds before the age of 59 1/2.
| Characteristics | Values |
|---|---|
| Customization | The Nationwide IUL Accumulator can be tailored to specific needs and life situations using riders and other options. |
| Death Protection | Offers death protection and the opportunity to grow the cash balance of the policy. |
| Policy Lapsing | Allows for loans and withdrawals without the risk of policy lapsing. |
| Monthly Deductions | Pays all monthly deductions while the policyholder is disabled, after a 6-month waiting period. |
| Accidental Death Benefit | Provides additional money to beneficiaries if the death is caused by an accident. |
| Long-Term Care | The death benefit can be used to pay for long-term care. |
| Disability Rider | Credits a monthly premium to the policy after a 6-month elimination period in case of disability. |
| Fixed Life Insurance | Offers the same core benefits as traditional universal life insurance. |
| Long-Term Suitability | May not be suitable for long-term life insurance needs; careful consideration is required. |
| Fees and Charges | Includes costs of insurance that vary based on characteristics like gender, health, and age, with additional charges for riders. |
| Stock Market Investments | Indexed universal life insurance policies are not stock market investments and do not participate in stock or equity investments. |
| Tax-Advantaged | Provides tax-advantaged growth, allowing tax-free estate planning to preserve and pass on wealth. |
| Interest Strategies | Offers a fixed interest strategy and indexed interest strategies with growth potential, allowing flexibility to update allocations. |
| Age 59½ Benefits | No penalties for accessing funds before age 59½, and no taxes when moving funds between indexed interest strategies. |
| Tax-Free Income | Provides tax-free income through policy loans and withdrawals once cash value has accumulated. |
| IUL Rewards Program | Additional interest is credited at an annualized rate of 0.30% starting in year 16 (or sooner for older issue ages). |
| Automated Income Monitor | Helps policyholders take income efficiently by specifying the income amount and frequency. |
What You'll Learn
- The IUL Accumulator offers death protection and the opportunity to grow the cash balance of the policy
- The policy can be customised to suit individual needs
- The policy offers tax-free income through loans and withdrawals
- The policy can be used as a tax-free estate-planning strategy
- The policy offers flexibility to choose from a fixed interest strategy and a range of indexed interest strategies
The IUL Accumulator offers death protection and the opportunity to grow the cash balance of the policy
The Nationwide IUL Accumulator is a form of fixed life insurance that offers the same core benefits as traditional universal life insurance. It provides death protection and the opportunity to grow the cash balance of the policy.
The death protection offered by the IUL Accumulator can be tailored to meet specific needs. For example, beneficiaries can receive additional money on top of the regular death benefit if the death is caused by an accident. The death benefit can also be used to pay for long-term care. Furthermore, the IUL Accumulator offers a rider that credits a monthly premium to the policy after a 6-month elimination period if the policyholder becomes disabled.
The opportunity to grow the cash balance of the policy is another key feature of the IUL Accumulator. Policyholders can take loans and withdrawals without fear of the policy lapsing. The IUL Accumulator also offers tax advantages, including tax-free income through loans and withdrawals. Any interest credited to the policy is tax-free, and there are no penalties for accessing funds before the age of 59 1/2. Additionally, the Nationwide IUL Rewards Program® offers additional interest credited annually, starting in year 16.
The IUL Accumulator is designed to provide flexibility to meet the changing needs of individuals throughout their lives. As personal situations evolve, such as marriage, the birth of a child, or a job promotion, the IUL Accumulator can be customized to ensure it remains suitable for long-term life insurance needs. Individuals can choose from a fixed interest strategy or a range of indexed interest strategies, or a combination of both, to suit their financial goals and risk tolerance.
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The policy can be customised to suit individual needs
The Nationwide New Heights® Indexed Universal Life Accumulator 2020 (New Heights IUL) policy can be customised to suit your individual needs. It offers flexibility to help meet your needs at every stage of life. As your personal situations change (marriage, the birth of a child, or a job promotion), so will your life insurance needs.
The New Heights IUL policy offers death protection, and you can also grow the cash balance of your life insurance policy. You can take loans and withdrawals without the fear of your policy lapsing. It also pays all monthly deductions while you're disabled, after a 6-month waiting period.
The New Heights IUL policy also offers the flexibility to choose from a fixed-interest strategy and a wide range of indexed interest strategies or any combination of the strategies that allow for growth potential to help you reach your accumulation goals. Your risk tolerance can change over time, and the New Heights IUL lets you update your allocations of premium and cash value across the various indexed and fixed-interest strategies to best suit your financial situation.
The New Heights IUL policy also has no penalties for accessing funds before the age of 59 1/2, and there are no taxes when moving funds between indexed interest strategies.
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The policy offers tax-free income through loans and withdrawals
The Nationwide New Heights® Indexed Universal Life Accumulator 2020 (New Heights IUL) is a flexible policy that can be tailored to your specific needs. It offers tax-free income through loans and withdrawals, allowing you to easily access the cash value that has accumulated in your policy.
The New Heights IUL provides the same core benefits as traditional universal life insurance, but with added features for customization. You can choose from a fixed interest strategy or a range of indexed interest strategies, or a combination of both, to suit your financial goals and risk tolerance. The policy also includes the Nationwide IUL Rewards Program®, which credits additional interest at an annualized rate of 0.30% from year 16 onwards. This credit is applied monthly as long as the policy is in force and includes pro-rata interest on any accumulated value taken from an index segment for loans or partial withdrawals.
The tax advantages of the New Heights IUL policy are significant. Any interest credited to your policy is tax-free, and there are no penalties for accessing funds before the age of 59½. Additionally, there are no taxes when moving funds between indexed interest strategies. This feature allows you to efficiently plan your estate and preserve your wealth for your heirs or charitable giving.
The policy also offers benefits to your loved ones in the event of your unexpected death. It can help ensure your family maintains their standard of living, pays off mortgages or other debts, and continues with education plans for your children. Furthermore, it can be used as a tax-free estate-planning strategy, allowing you to pass on your wealth efficiently.
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The policy can be used as a tax-free estate-planning strategy
The Nationwide New Heights® Indexed Universal Life Accumulator 2020 (New Heights IUL) is a flexible policy that can be tailored to meet your needs at every stage of life. It can help ensure that your family has the resources to maintain their standard of living, pay off mortgages or other debts, and carry out education plans for your children in the event of your unexpected death.
The New Heights IUL policy can also be used as a tax-free estate-planning strategy. This means that you can efficiently preserve and pass on your wealth to your heirs, favourite charity, or to protect any business interests. The policy offers the flexibility to choose from a fixed-interest strategy or a range of indexed interest strategies, or a combination of both, allowing you to customise the policy to your specific financial goals and risk tolerance.
One of the key benefits of the New Heights IUL policy is the ability to access funds tax-free. There are no penalties for accessing funds before the age of 59 1/2, and any interest credited to your policy is tax-free. This feature makes it convenient to withdraw funds or take policy loans without incurring additional taxes or penalties.
Additionally, the New Heights IUL policy provides the option to structure the policy for charitable giving and estate planning purposes. By working with a legal professional, you can ensure that your policy aligns with your charitable and estate-planning goals, maximising the benefits for your chosen beneficiaries.
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The policy offers flexibility to choose from a fixed interest strategy and a range of indexed interest strategies
The Nationwide New Heights® Indexed Universal Life Accumulator 2020 (New Heights IUL) is a flexible policy that adapts to your needs at every stage of life. It offers the flexibility to choose from a fixed interest strategy and a wide range of indexed interest strategies. This flexibility allows you to update your allocations of premium and cash value to suit your evolving financial situation.
The New Heights IUL policy allows you to take loans and withdrawals without the risk of your policy lapsing. You can access tax-free income through these loans and withdrawals once the cash value has accumulated in your policy. There are no penalties for accessing funds before the age of 59 1/2, and no taxes when moving funds between indexed interest strategies.
The Nationwide New Heights IUL Rewards Program® offers additional interest credited at an annualized rate of 0.30% starting in year 16 (or sooner for older issue ages). This credit is applied monthly as long as the policy is in force and includes pro-rata interest on any accumulated value taken from an index segment for loans or partial withdrawals.
The Automated Income Monitor feature allows you to specify how you want to receive your income (monthly, quarterly, or annually) and for how long. This feature calculates the income amount and length based on your preferences, helping you efficiently manage your income.
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Frequently asked questions
Yes, the Nationwide New Heights® Indexed Universal Life Accumulator 2020 (New Heights IUL) allows you to access the cash value of your policy through policy loans and withdrawals.
The Nationwide Accumulator IUL offers the same core benefits as traditional universal life insurance, but can be tailored to your specific needs. It provides death protection while allowing you to grow the cash balance of your policy. It also pays all monthly deductions while you are disabled, after a 6-month waiting period.
The Nationwide New Heights IUL can be used as a tax-free estate-planning strategy, allowing you to preserve and pass on your wealth to your heirs or a charity of your choice. It also helps ensure that your family has the resources to maintain their standard of living, pay off mortgages or debts, and fulfill education plans for your children in the event of your unexpected passing.
