Nationwide Is Suspending All Individual Life Insurance Sales In Washington State Until Further Notice

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Nationwide Is Suspending All Individual Life Insurance Sales In Washington State Until Further Notice

 

From Nationwide

Nationwide is suspending all individual life insurance sales in Washington state until further
notice

The passage of the WA Cares Fund in Washington state has created an opportunity for people to consider obtaining long-term care coverage. Because of the increasingly intense interest in Nationwide solutions, the application volume we have received has far exceeded expectations. To provide the best possible experience for all customers, we must notify you of the following change to new business applications in Washington.

Effective immediately, Nationwide is temporarily suspending sales of all individual life insurance,
products including Nationwide CareMatters®, in Washington state until further notice.

All Washington applications received after 5:00 p.m. ET, August 10, 2021, will not be processed. No exceptions will be made. At this time, while we are making every attempt possible to process all business that has been received, we cannot guarantee the issue date for any previously submitted applications in Washington.

We will resume accepting new business as soon as possible, but it may not be until after November 2021.

In order to manage the volume of applications already received, we have created a separate underwriting and case management team dedicated to handling life applications from Washington. All other states will continue to follow our normal underwriting process.

We will let you know if we need anything on a case and when the status changes. You can expect a welcome letter when the application is set up and the initial review is completed by the case manager, along with a separate approval email. Where accessible, we encourage you to utilize the Life Pending

Business Tracker is located on the Sales and Service Center website for status updates at nationwidefinancial.com. We appreciate your understanding that we are unable to provide status updates and follow-ups at this time on Washington applications.

Providing extraordinary care is important to us and we do not take this step lightly. With that in mind, and considering other actions already taken in the industry on this matter, we felt compelled to take these measures to adequately process all previously submitted life applications.

 

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