Effective August 2, 2021, and through December 31, 2021, policies submitted in Washington state that include the Long-Term Care Rider on Indexed Universal Life or No-Lapse Guarantee Universal Life policies must use:
- Electronic applications (no paper applications in Washington after August 2, 2021)
- Intelligent Underwriting process
- The digital interview
Policies being issued in Washington that elect the LTC Rider are subject to these requirements.
- Indexed Universal Life products
- No-Lapse Guarantee products
Products NOT impacted
- Nationwide CareMatters® II
- Survivorship Indexed Universal Life
- Nationwide Variable Universal Life Accumulator
- Nationwide Variable Universal Life Protector
No other states are impacted by this change.
NOTE: When selling through an intermediary, identifying them in the electronic application will help expedite processing.
At Nationwide, we are here to help you place your life insurance and long-term care business. Nationwide can make no guarantees that policies submitted will be issued in time for individuals to meet the deadline set by Washington state. However, we believe that your best chance will be to submit applications by September 1, 2021.
Find out more about these changes from Nationwide…