Nationwide Financial® Unveils New YourLife Protection Variable Universal Life Product

Business Wire, April 21, 2008

Innovative Life Insurance Offers Flexibility, Guarantees

COLUMBUS, Ohio -- The ever-changing life insurance marketplace means financial professionals must find even more creative solutions to meet their clients' needs. One current marketplace need is for competitively priced, permanent life insurance that offers death benefit protection with the potential for cash accumulation at the same time.

To meet that need, Nationwide Financial Services, Inc. (NYSE: NFS) today launched the newest version of its YourLife(SM) suite of life insurance products, Nationwide YourLife(SM) Protection VUL, a flexible premium, adjustable, variable universal life product with a guarantee death benefit rider. All protections and guarantees are subject to the claims-paying ability of the issuing life insurance company.

Nationwide YourLife(SM) Protection VUL is a competitively priced, accumulation and death benefit protection VUL product that can adjust to each client as his or her life changes. It offers a customizable death benefit guarantee rider, a broad investment lineup and simple policy- management tools.

"This product can be used to meet many market needs," said Peter Golato, senior vice president for Nationwide Financial. "However, the primary client is between 30 and 50 years old in the higher middle-income market. He or she has a small amount of flexible income and prefers to pay a lower level annual premium until his or her discretionary income builds. Generally, the client is looking for death benefit protection in amounts from $150,000 to $750,000."

A large secondary market for the product is clients seeking slightly higher face amounts, competitive premiums that will short pay or single pay the policy, as well as guaranteed death benefit protection. These clients' ages range from 40 to 60 and are most likely seeking death benefit protection for more than $1 million.

"While high cash value accumulation is not the primary objective, these clients do appreciate the potential to earn more through the variable investments accounts than would be afforded by a fixed product of the same type," said Golato.

Product benefits for both the financial professional and the client

Nationwide makes it easier for financial professionals to underwrite their life insurance business, protect the varying risk tolerance levels of their clients, feel confident using the investments available through Nationwide and service their clients' ongoing needs.

With Nationwide YourLife(SM) Protection VUL, a financial professional can offer clients:

* death benefit protection that can adjust to their clients' changing needs

* customizable and simple death benefit guarantee protection

* competitive premiums on a policy with accumulation potential; the level premium to endow will guarantee the policy for 10 years

* nationally known investment lineups

* policy-management tools designed to be easy to use.

"Many people under age 50 are still paying mortgages, saving for college or paying off college loans, or many other things that seem to chip away at their budget," Golato said. "Reasonably priced and flexible coverage is what this VUL product offers to our clients. When comparing our features, benefits, ease of use and simpler solutions, Nationwide is providing good value for the price."

Flexible guarantees and guarantee management

Many companies offer guarantees, which sometimes come with increased complexity. Nationwide offers an easy-to-understand guarantee, flexibility to meet changing needs and catch-up provisions if policyowners fall behind on their premiums.

"Many things in life can change, but clients want to know they have the appropriate amount of coverage to meet their needs and have protection when they need it," Golato said. "Nationwide offers a minimum 10-year guarantee protection, or the client can elect to extend their guarantee death benefit protection for 20 years, up to a lifetime with a rider available at an additional charge.

"This rider gives a financial professional the ability to meet several different risk tolerance levels. Nationwide offers the flexibility to choose how much guarantee is needed or choose how long to guarantee the policy. The guarantee is designed to be simple to understand and policy management tools make maintaining it easier. Clients and financial professionals don't have to worry about the timing of their payments, like they do with other no-lapse guarantee products. As long as the client pays the total extended death benefit accumulation premium prior to the policy lapsing, he or she can catch up at anytime," he said.

Solid investment options available

Nationwide has a solid reputation of offering only well-managed, highly reputable and strong- performing funds, including Investor Destination Funds, Fidelity Freedom Funds and American Fund Asset Allocation model. And Nationwide currently offer dozens of subaccount investments to choose from, giving clients the flexibility and choice they desire and expect from their insurance company.1