Nationwide has been providing coverage for almost a century, becoming a household name in the process. You’ve heard of Nationwide, but how do Nationwide Life Insurance policies stack up against their competitors?
Even with a large selection of life insurance products to choose from, Nationwide does not have a dedicated burial insurance policy, but instead have riders that provide death benefits for customers to add on and customize their policies.
When it comes to competition in the insurance market, Final Expense Benefits has you covered with finding the best plan for you or your loved ones’ needs. We work with top life insurance companies because customers’ interests are our top priority. If you’d like to learn more about life insurance companies, check our free quoting tool or call us at (866) 786-0725.
Key takeaways
Nationwide life insurance offers plenty of coverage options, and understanding what they offer applicants can help you find the right policy.
Nationwide does not offer a burial insurance policy but allows customers to add death benefit riders to cover final expenses.
While there are whole life and universal life insurance options available, information on average monthly rates is not available online.
Despite the insurance industry accreditation, customer ratings towards Nationwide are mixed overall across multiple online review platforms.
About Nationwide Insurance
Nationwide has been an established coverage provider with options ranging from burial insurance to pet insurance.
Starting in Columbus, Ohio, in 1926, Nationwide, originally known as Farm Bureau Mutual, sold their first insurance policy. By 1955, they’d formally change their name to Nationwide with the aspiration of successfully selling products across the US. Today, Nationwide has many plans and policies, including life insurance options and riders. But how many of those plans and policies work for seniors?
Nationwide Life Insurance Coverage Options
Nationwide offers term life, whole life, and universal life insurance options. The company’s whole life insurance plans do not stand out in terms of special features when compared to competitors and do not issue dividends to their policyholders.
Nationwide Term Life Insurance Plans
Term life insurance policies protect policyholders for a set period. Because of the limited time and the fact that policies don’t guarantee a death benefit, this type of plan is not recommended for seniors since these policies can be difficult to apply for due to strict underwriting and medical requirements.
With Nationwide, two term life policies are offered: Guaranteed Level Term and Life Essentials. For Guaranteed Level Term policies, premiums under this policy won’t change over the life of the plan (10-, 15-, 20-, 30-year terms available for purchase), have no maximum coverage cap, and don’t require medical exams from applicants. The policy can also be converted to a permanent whole or universal policy following the end of a term, or it can be renewed annually until age 95, and can be customized with life insurance riders. As for Life Essentials, policies are offered in 10- and 20-year terms, available with a death benefit that can cover final expenses between $250,000 and $1.5 million, and can’t be customized with insurance riders.
Nationwide Whole Life Insurance Plans
Whole life insurance plans offer lifetime coverage and cash value growth. This form of insurance is designed with seniors’ needs in mind and is generally less expensive, with more relaxed medical requirements. Nationwide offers several whole life policies: Whole Life 100, 20-Pay Whole Life, Simplified Whole Life, and Heritage Single Premium. Coverage across most of the plans begin at $10,000 with varying cutoff age restrictions, rider options, and availability.
Universal Life Insurance Plans
Standard, indexed, and variable universal life insurance policies aim to build cash value, which can be accessed during the policyholder’s lifetime. As far as application requirements are concerned, each policy has different criteria and Nationwide offers many universal life insurance products.
Universal life insurance (ULI), like other forms of permanent life insurance, has cash value and offers lifetime coverage as long as premium payments are made. However, unlike whole life insurance, this type of policy allows for premium adjustments within certain limits, which can make it cheaper than whole life coverage. As for indexed universal life (IUL) and variable universal life (VUL) policies, IUL lends its cash value to a specific stock index while VUL policies allow the insured to invest between a variety of subaccounts for potential growth.
Final Expense Insurance
Final expense insurance, also known as burial insurance or funeral insurance, is a type of whole life insurance policy used to cover final expense costs such as funeral processions and cremations. Most final expense policies don’t require medical exams and typically accept most applicants regardless of health, making this type of insurance the best option for seniors seeking coverage. Average benefit payouts range from $5,000 to $50,000.
To learn more about final expense insurance, call us at (866) 786-0725.
What Are Insurance Riders?
Insurance riders, also known as insurance endorsements, are policy provisions that can add specific benefits to a basic coverage plan. There are additional costs for purchasing riders but most are low in cost due to minimal underwriting. Nationwide offers several insurance riders which can be applied to many of their policies including accidental death benefits, return of premium, and guaranteed insurability benefits.
How Much Does Nationwide Life Insurance Cost?
What’s important to note about Nationwide life insurance is that applicants can only apply for term life insurance plans online and have sample rates available on their website upon request. However, resources and information for whole life and universal life insurance plans are only available via online appointment or their no-obligation consultation hotline.
Nationwide and Burial Insurance Coverage: What Options Are Available?
Nationwide does not offer burial insurance but instead offers insurance riders as add-ons for most of their coverage plans. The company suggests final expenses can be covered by any of their life insurance products if policyholders have a death benefit rider—the payout that beneficiaries receive from a policy when the insured passes away.
Despite these coverage options, information on monthly rates and coverage estimates for whole life insurance plans is not available online. However, some information is available for those interested in term life and universal life policies.
Applicants can use the company’s online no-exam term life insurance quote tool for monthly rates, and current rates for Nationwide universal life insurance (starting at $100,000 for coverage amount) are estimated to be $37.36 for female applicants and $46.41 for male applicants.
Sample Burial Insurance Rates for Seniors
Final Expense Benefits keeps rates transparent and accessible for prospective applicants. Here are some of the best burial insurance companies and the monthly premiums:
Burial Rates for Seniors (Whole Life Insurance)
| Company |
Male 50y/o |
Male 60y/o |
Male 70y/o |
Female 50y/o |
Female 60y/o |
Female 70y/o |
|---|---|---|---|---|---|---|
|
$34 |
$50 |
$70 |
$27 |
$40 |
$56 |
|
|
$32 |
$59 |
$105 |
$27 |
$46 |
$79 |
|
|
$31 |
$44 |
$75 |
$24 |
$33 |
$53 |
|
|
$34 |
$45 |
$79 |
$29 |
$35 |
$59 |
|
|
$34 |
$45 |
$79 |
$29 |
$35 |
$59 |
These figures are estimates only, based on a $10,000 burial insurance policy for a non-smoking applicant with no pre-existing conditions.
Nationwide Life Insurance Pros & Cons
Pros
- Plenty of policy options and riders to select
Nationwide offers 14 types of life insurance coverage, most of which can be customized with insurance riders. - Diverse insurance learning resources
Besides having a large product library, Nationwide also provides educational materials to help prospective applicants learn more about coverage types and other key terms. - Term life insurance policies available for application online
Nationwide offers a no-exam term life insurance quote tool online, which only requires applicants to answer questions about health and medical history. - Financial strength verified by reputable organizations
Nationwide has been an institution since 1926 and has had its financial stability verified by numerous reputable organizations such as the Better Business Bureau and AM Best.
Cons
- No burial insurance policies
Despite a sizable catalogue of life insurance plans, the only way you can get final expense coverage is through a death benefit rider, which would cost extra. - Non-participating whole life insurance policies
Nationwide whole life policies are considered non-participating plans, meaning that they do not provide profit-sharing and do not pay policyholders dividends. - No online rates, quotes, or applications for whole life options
Nationwide does not provide any information on rates for the sake of prospective customers, unlike many other insurance companies on the market.
- Mixed customer reviews
Customer service has been varied and complaints have been noted in review forums and third-party reports.
Nationwide Life Insurance Reviews
AM Best
AM Best is responsible for assessing life insurance companies’ overall credit and ability to meet financial obligations to better protect consumers.
Nationwide’s AM Best rating is an A+ as of April 2024, indicating a strong capacity to meet financial commitments.
NAIC
The National Association of Insurance Commissioners (NAIC) tracks customer complaints against life insurance companies and rates them on their yearly complaint index. Ratings range from 0 to 10, and insurers should aim to be rated below the average of 1.
The NAIC’s rating for Nationwide life insurance’s overall customer complaint index is 0.07 according to their 2024 National Complaint Index Report, while their customer complaint index for individual life policies has an NAIC rating of 1.88.
BBB
The Better Business Bureau (BBB) helps customers find trustworthy businesses by tracking customer complaints and providing complaint resolution services for customers and businesses. Their rating scale ranges from A+ to F.
Nationwide boasts an A+ rating and is BBB-accredited.
Customer Ratings
Jonathan
5/5
After searching for a low coverage term life insurance amount that would be simple and easy to do online, Nationwide [was] able to offer me a quote based on my age that was a fair price. My only concern was the limit of only a 10 year term and perhaps due to my age as I would have liked to obtain a little higher term locked in but overall, I am pleased with the price and ease of the website dashboard portal and quick and easy underwriting.
Mae
1/5
I’ve been a loyal Nationwide customer for over 20 years with a spotless payment history. Unfortunately, I recently experienced a disappointing and avoidable lapse in coverage that completely undermined the trust I had in this company.
My policy was canceled on [May 22, 2025] with no warning, no email, no mailed notice — nothing. I only learned of the cancellation days later, when I proactively reached out through my broker. I was still receiving billing communications from Nationwide that indicated my account was in good standing, which added to the confusion.
[…] Long-term customers can still be left in the dark, and it’s important to stay vigilant — even with companies you’ve trusted for years.
Jennifer
5/5
I could not have asked for an easier process to ensure this peace of mind for my husband and I. We have been looking at term insurance for quite a while and when we saw Nationwide offered such an easy, streamlined way to apply, it was a no [brainer].
Final Thoughts
Nationwide is a long-standing coverage provider with one of the largest insurance catalogs which, according to the company, all offer death benefits covering final expenses. But due to a lack of transparency for monthly rates and estimated coverage amounts for whole life coverage, purchasing a policy could be more difficult for those looking for permanent life insurance.
Final Expense Benefits is here to help you navigate through the most important life insurance decisions for you and your loved ones. If you’d like more information about insurance providers or a free consultation, check our free online quoting tool for a personalized pricing estimate, or call us at (833) 759-3578, Monday through Friday, 9 a.m. to 5 p.m. ET.
FAQ
How does Nationwide life insurance work?
Depending on the type of policy, coverage amount, underwriting, or claim, Nationwide life insurance can work in many different ways—and with Nationwide, there are 14 types of policies available to applicants.
What features are offered with Nationwide life insurance?
Fourteen coverage plans to choose from with death benefit options available; no-exam whole life and term life policies.
What does Nationwide life insurance cover?
Final expenses, mortgage protection, income replacement, college funding, and debt/tax relief.
How much does Nationwide life insurance cost?
General information on average monthly rates for Nationwide life insurance’s whole life and term life policies is unavailable online. Current monthly rates for Nationwide universal life insurance options are estimated to be $37.36 for female applicants and $46.41 for male applicants, and those policies offer coverage starting at $100,000.