Nationwide Life Insurance
Nationwide offers a wide range of of Life and Lifestyle Protection products through its partnership with Legal & General and AXA. Here is a brief description of the products provided by Nationwide:
- Term Life Assurance - this type of plan pays out a lump sum to your beneficiaries in case of your death in the specified term. The money can be used for any purpose such as paying off a mortgage or college tuition. The coverage is flexible and can be increased to suit your changing needs. Critical Illness Cover can be added for more protection.
- Mortgage Life Insurance - this plan is designed to protect your mortgage in case you pass away during the specified term. You can choose between fixed (level) cover that will remain the same during the life of the policy or decreasing cover that decreases along with the balance of your mortgage. You can add Critical Illness Cover to this plan for additional security. "SmoothMove" which is a 24 hour moving day rescue services is available free when you apply for Mortgage Life Insurance.
- Over 55s Life Cover - this cover is available for UK residents ages 55-80. This plan features guaranteed acceptance and no medical exam or health questionnaires. You can choose between fixed cover, where your premiums and the amount of cover remain the same and increasing cover where your premiums and your cover increase each year to offset inflation.
- Lifestyle Protector - provides short term income protection if you are unable to work due to unemployment, illness or injury.
- Income Protection - provides long term income protection if you are unable to work due to illness or injury.