Transition Guidelines
Nationwide CareMatters® II
Pricing Change for New Business Effective January 11, 2021
Nationwide is committed to carefully managing their life product portfolio to remain a strong, stable carrier you can rely on. To keep this commitment – and in response to the sustained low interest rate environment and regulatory updates – Nationwide will implement pricing updates to Nationwide CareMatters® II. This is a change to premiums and Guaranteed Cash Value tables only.
There are no changes to the product structure, contract language, forms, or types of benefits provided. There is no change to in-force policies because of this update.
Product Changes
Nationwide took a surgical approach in determining premium changes to ensure Nationwide remains competitive in our target market. Within their target market, ages 40 to 65, they chose to remain very competitive on multi-pay premium policies, specifically those with 3% compound inflation protection.
Effective January 11, 2021, for new business within our target market, you can expect the following premium increases, on average:
| 3% Compound Inflation | No Inflation | |
|---|---|---|
| Single Pays | 8% | 11% |
| Multi Pays | 11% | 16% |
Premium changes outside of the target market will vary based on the characteristics of your case.
Nationwide also increased the Guaranteed Cash Value tables as a part of this product update. For new business, you can expect the following increases to Guaranteed Cash Value tables, on average:
| Policy Year 20 | Policy Year 25 | Policy Year 30 |
|---|---|---|
| 8% | 6% | 4% |
Increases will also vary by age and underwriting class.
While current interest rates and economic conditions necessitate these changes, Nationwide is committed to offering competitive long-term care solutions for you and your clients.
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