Term Life Insurance

Term life insurance is probably one of the most popular forms of life insurance. In exchange for a premium that stays the same for a specific period, you get a tax-free death benefit. That way, if something happens to you, your family can continue to pay for the things your income provided.

Want to learn more?

• 5-minute guide to term life insurance (PDF)
• How much do I need?
• Choosing a beneficiary
• Nationwide YourLife^SM Term

Already own a term life insurance product? Log in to see your account information.

Advantages and disadvantages

Term life insurance is easy to understand, inexpensive and can provide essential protection for your family. Because it typically doesn’t cost a lot, you can buy larger amounts without having to spend tons of money.

The downside is that term isn’t a permanent life insurance solution. Once the term ends, the premiums can increase dramatically. And, the older you are, the more expensive it gets. Fortunately, you can convert many term life insurance policies to a permanent insurance policy like whole, universal or variable universal life insurance.

Keep in mind that as your life changes, for example marriage, birth of a child or a job promotion, so will your life insurance needs. Make sure this type of product suits your long-term needs. You should weigh any associated costs before making a purchase. Life insurance has fees and charges include costs of insurance that vary based on the insured person’s gender, health and age. There are additional charges for riders that customize a policy to fit your individual needs.

Not a deposit • Not FDIC or NCUSIF insured • Not guaranteed by the institution • Not insured by any federal government agency • May lose value

Guarantees and protections are subject to Nationwide's claims-paying ability. Life insurance is issued by Nationwide Life Insurance Company, or Nationwide Life and Annuity Insurance Company, Columbus, Ohio.

PDFs require Adobe^® Reader^®