Nationwide - Price Improvements to CareMatters II and Other Product Improvements- Effective 11/7
10-20-2022
Nationwide® is pleased to announce the following price and product improvements effective November 7, 2022:
- Additional price improvements on Nationwide CareMatters® II
- Maximum issue age increase for YourLife CareMatters® (CA and NY)
- Price improvements on No-Lapse Guarantee Universal Life II
Price improvements to Nationwide CareMatters II
Beginning November 7, 2022, Nationwide® is implementing a second price improvement of 2022 across all scenarios for the current CareMatters II product. These changes do not apply to Nationwide YourLife CareMatters in New York and California. The price improvement is an average pricing decrease of 5% for all scenarios. There will be a price decrease for all scenarios; however, the percent decrease varies by the characteristics of the case
Important dates: CareMatters II policies with an effective date on or after November 7, 2022, will receive the improved pricing. Any new business already at Nationwide will receive the new rate. Please continue to submit applications; all policies will be issued at the new rate on or after November 7, 2022, unless otherwise requested. Normal CareMatters backdating rules apply.
Maximum issue age increase for YourLife Carematters (CA and NY)
Beginning November 7, 2022, the maximum issue age for YourLife CareMatters will increase in California and New York. These changes do not apply to Nationwide CareMatters II. In California, applications for individuals older than the previous maximum issue age must be submitted on paper. E-applications will not be accepted.
| State | Premium Pattern | Benefit Period | Current Maximum Age | New Maximum Age |
| California | All | All | 69 | 75 |
| New York | Single Pay | 2- and 3-year | 69 | 70 |
| New York | Single Pay | 4-, 5-, 6-, 7-year | 67 | 70 |
| New York | 5- and 10-Pay | All | 69 | 75 |
Normal CareMatters backdating rules apply.
Price improvements on No-Lapse Guarantee Universal Life II
Beginning November 7, 2022, Nationwide is implementing a price improvement across all scenarios for the current No-Lapse Guaranteed UL II product. These changes do not apply to No-Lapse Guarantee UL II in New York. The price improvement is a price decrease for all no-lapse guarantee solve scenarios. The typical price decrease will range from 5% to 15%; however, the percent decrease varies by the characteristics of the case.
Important dates: Policies with an effective date on or after November 7th will receive the improved pricing. Backdating Normal backdating rules apply and if the policy is backdated using a policy effective date on or before November 6, 2022, it will receive the old pricing.
Please give us a call at 1.800.792.6795 if you have any questions.