If you’re shopping for a hybrid long term care insurance plan, Nationwide is a primary contender.  But as of January of 2025 they generally are not the most competitive when it comes to benefits versus premiums paid of the “blue chip” companies.

This review seeks to discuss pros and cons of this policy, as well as help identify the best value from an A+ rated company.

Key Features

Flexible Premium Payment Options: CareMatters II offers various premium payment options, such as single-pay, 5-pay, 7-pay, and 10-pay plans, making it easier to choose a payment schedule that suits your financial situation.  We have noticed a trend of more and more clients opting for 5-pay and 7-pay, meaning you pay premiums over 5-7 years, and are then fully paid up with a policy coverage that is guaranteed for your entire lifetime.

This can be especially useful for those purchasing coverage in their 50s while still working.

With Nationwide Care Matters II, you can even “seed” your first year’s premiums, reducing future premium outlays.

Guaranteed Death Benefit: This hybrid policy provides a guaranteed death benefit, ensuring that your beneficiaries receive a payout if long-term care is never needed. This benefit helps protect your financial legacy and provides peace of mind knowing your investment won’t go to waste. Similar to SecureCare III, this policy also provides a guaranteed minimum death benefit in the event you have exhausted ALL of your LTC benefits, your beneficiaries will still receive a guaranteed minimal death benefit.Not all policies offer this feature, so be sure to look for it. Nationwide has the largest Guaranteed Death benefit we know of: 20% of Face Amount.

As an example if you had a $100,000 Life Benefit but then needed $500,000 in Long-Term Care, you’d still have a $20,000 minimum death benefit.

Return of Premium: CareMatters II includes a return of premium feature, which allows you to surrender the policy and receive a portion of your premiums back, depending on how long you’ve held the policy. This feature offers flexibility in case your needs change over time.

Cash Indemnity Benefits

Unlike traditional reimbursement-based long-term care policies, CareMatters II pays out a monthly cash indemnity benefit when you need care. This means you have the flexibility to use the funds as you see fit, without the need for submitting receipts or itemized bills.

There are only two types of policies: Reimbursement of actual receipts (requires documentation monthly) and Cash Indemnity (no receipts each month needed).

Elimination Period: One element of the Nationwide CareMatters II policy that sets it aside from other hybrid policies is the elimination period. Just like other hybrid long term care policies, there is a 90 day elimination period that must be met before your benefits kick in; however once you have met the 90 day requirement, LTC benefits for the first 90 days will be paid to you along with your month 4 benefits.

Inflation Protection: To keep up with the rising cost of long-term care, CareMatters II offers optional inflation protection riders. These riders help ensure your policy’s benefits maintain their value over time, providing adequate coverage when you need it most.

>> Learn more about Inflation Protection

Waiver of Premium: Once you start receiving long-term care benefits, CareMatters II waives any remaining premium payments, easing the financial burden and allowing you to focus on your care needs.

Simplified Underwriting Process: Nationwide’s CareMatters II features a streamlined underwriting process, which may make it easier for applicants with health issues to qualify for coverage. Learn more about how Underwriting works.

Nationwide’s CareMatters II hybrid long-term care insurance policy offers a combination of flexibility, financial protection, and comprehensive coverage. It’s essential to carefully evaluate your unique needs, financial goals, and potential care requirements when considering this policy or other hybrid options.

How It Compares

Nationwide is a competitive player in the market, and the policy itself has several good features. However, rates fluctuate regulary (up to 2-3 times per year) and the companies competing in this space leap-frog each other all the time to try and win business.

It’s always imperitive to compare your current options, as the difference from one company to another can literally be hundreds of thousands of dollars in benefits. Put another way, just blindly purchasing what your advisor suggested can cost you $100,000 or more in the future.

Next Steps to Compare

Ready to make an informed decision? Request a side-by-side quote comparison from LTC Tree to find the best hybrid long-term care insurance policy tailored to your needs!