Nationwide - Pricing Changes to No-Lapse Guarantee UL II


Nationwide is committed to carefully managing their life product portfolio to remain the strong, stable carrier you can rely on. To keep this commitment – and in response to the extremely low interest rate environment and unprecedented volatility in the markets – Nationwide is repricing two of their No-Lapse Guarantee UL (NLG-UL) products and one version of the ENLG Rider.

The reprice takes effect June 13, 2021 and applies to all new business for the following:

  • Nationwide No-Lapse Guarantee UL II
  • Nationwide YourLife No-Lapse Guarantee UL (New York)
  • The Age 120 version of the ENLG Rider on Nationwide IUL Protector II 2020 − The Age 90 version of the ENLG Rider on this product will not be affected by this reprice

Important Dates

Application Signed Date - Sunday, June 13, 2021:  

  • "In Good Order" applications must be signed by June 13, 2021 to receive the preJune 14, 2021 (old) pricing. Applications signed after this date will receive the new pricing. A Policy Date of June 13, 2021 or prior will be applied to the policy once issued if the additional criteria below are met. These same rules apply to pending cases as well.

Application Received Date - Friday, June 25, 2021

  • Applications signed by June 13, 2021 must be received at Nationwide no later than June 25, 2021 to receive the old pricing.

Funding Deadline - Friday, August 27, 2021

  • Applications signed by June 13, 2021 and received by June 25, 2021 must be in force and funded, or in the case of 1035 exchanges requested by, August 27, 2021.

Underwriting Deadline - Sunday, June 13, 2021

  • Last day to reopen a current application that was closed due to outstanding underwriting requirements or was considered “Not Taken.”
  • If not reopened by this date, it will be considered an application for the newly priced product, regardless of the original application date.

Using the most updated illustration software

For applications signed June 14, 2021 or later please be sure you have a current sales proposal.


Applications signed June 14, 2021 and after must use the new pricing and therefore cannot be backdated prior to June 14, 2021 for any reason. Normal backdating rules and the old product pricing apply to applications signed on or before June 13, 2021, if the “Important Dates” criteria above are met. Backdating is considered applying a Policy Date (Issue Date) to a policy that is prior to the application signed date.

Applying 7702 and 7702A rates to in-force policies – Nationwide NLG UL II and Nationwide YourLife NLG UL (NY only)

Additionally, the Consolidated Appropriations Act of 2021 that went into effect January 1, 2021, lowered the interest rate assumptions used in the Internal Revenue Code sections 7702 and 7702A calculations. This increases the funding limits for policies to qualify as life insurance and allows for higher premiums relative to the specified amount before becoming a modified endowment contract (MEC). The 7702 changes will be effective for Nationwide NLG UL II and Nationwide YourLife NLG UL policies issued on or after June 14, 2021 and applied retroactively to policies issued on or after January 1, 2021.

For Nationwide NLG UL II and Nationwide YourLife NLG UL policies issued from January 1 to June 13, 2021, Nationwide will retroactively apply the new 7702A rates and premium testing limits (which determine MEC status). A letter will be mailed to policyowners when their policy is updated. Producers will be informed of the correspondence with their clients. This process may take several months. The ENLG Rider on IUL Protector II 2020 interest rate changes for 7702 were included and communicated with our product changes implemented in April 2021.


Please give us a call at 1.800.792.6795 with any questions or if you need assistance with illustrationrs or applications.