Never miss any update

Subscribe to the Planning Tips and Carrier News for Advisors newsletter today to receive updates on the latest news from our carriers.

Your privacy is important to us. We have developed a Privacy Policy that covers how we collect, use, disclose, transfer, and store your information. 

Mar 30, 2020 • LTCI Partners

Nationwide CareMatters- Issue age Change

Due to the continuing low interest rate environment and recent market volatility, Nationwide is making the following two changes to our CareMatters I (NY and CA) and CareMatters II products:

  • Reducing the product’s maximum issue age to 69 from 75, effective April 17th
  • Reducing the credited interest to 2.00% from 2.25%, effective April 1st
    • (Note this change will have no impact on any illustration’s benefits or policy values, as all illustrations reflect the guaranteed minimum rate of 1.00%.)

 

Transition rules: Any application intending to issue on an insured age 70-75 must be signed and received in good order at Nationwide by April 17th, and in-force and funded by May 29th.

 

The change to our maximum issue age will be reflected in our illustration software beginning April 3rd.

    

Although the current market environment requires these changes, as a conservative, mutual insurance company, Nationwide is well-positioned to meet our members’ needs. As always, we actively monitor our product portfolio and will notify you of specific product and pricing changes as soon as we can.

Written by LTCI Partners