Life Industry Mid-Year Results: A Q&A with Nationwide’s Holly Snyder

Snyder: Through the second quarter, the life industry found more opportunities to protect more people, with policy growth outpacing premium growth as carriers expanded their reach across multiple market segments. In recent years we have seen growth driven by higher face amount policies. Now we are seeing a bit of a reversal of that trend as the industry reaches more middle-market consumers with smaller policies.

This growth is driven in part by the emergence of simpler, digitally enabled solutions that make it easier for consumers to access coverage. Across the industry, we are seeing a variety of approaches to simplifying the purchasing experience.

While we love the fact that new transactional solutions are making coverage accessible to more people, at Nationwide we are taking a different approach. We believe we can expand access for consumers while maintaining the strength and quality of the protection they are looking for. We are focused on how we can leverage technology to deliver higher value solutions through an effortless, lower-cost experience – without shortcutting underwriting. We look forward to introducing some of these new offerings in the near future.

Snyder: In the second half of 2026, I expect growth to be driven by continued demand for protection, broader access for middle-market consumers and ongoing innovation that makes it easier for people to purchase the coverage they need.

One of the biggest opportunities will continue to be with linked-benefit long-term care solutions because there is still a very large untapped market need, and new solutions are making this protection more accessible than ever.

We are facing some headwinds that may slow growth a little bit. Consumers are balancing competing financial priorities as they work to support their families, and higher living costs continue to put pressure on household budgets – particularly for discretionary purchases like life insurance. This creates an opportunity for us to meet customers where they are, help them understand the value of our protection, and make it easier for them to take action when they are ready.

While I am optimistic about continued industry growth, we set a very high bar in 2025. Based on the results we have seen through the first half of the year, I would expect 2026 growth to remain positive but more moderate than last year’s exceptional performance.

Snyder: Our momentum is coming from a diversified strategy focused on meeting evolving customer needs rather than relying on any single product or market. That means offering a wide array of solutions to a diversified client base, while staying disciplined around the customer and financial professional experience.

It is notable that so far in 2026, we have either launched or enhanced a product every month. Indexed universal life, variable universal life, our CareMatters linked benefit solutions and a renewed investment in whole life are all supporting results for Nationwide.

Our diversified portfolio allows us to adapt to market conditions while maintaining balanced growth across product lines. That is why we continue to show up as the most diversified life insurance carrier in the top ten.

We are focused on knowing our customers and understanding what their needs are. Just as importantly, we are focused on helping financial professionals serve their clients confidently throughout the life of the policy, not just at the point of sale.

We want Nationwide to be viewed as the company that leads the industry in helping people understand what it is they have bought and how it performs. Partners that we are working with really appreciate the investments we are making to help them manage these policies long after the point of sale.

Snyder: I am excited to see that more financial professionals and distribution partners are embracing holistic planning. That is good news for our industry and the American public, because life insurance and long-term care coverage are really the foundation of a true holistic plan.

If you are a financial professional trying to get your arms around a wide range of solutions and trying to choose a carrier you can trust over the long term, there is a lot to wade through, compare and understand. Financial professionals are looking for a partner they can work with who they feel is aligned to help them keep their promises to clients. Companies with a long-term focus, strong financial fundamentals and a commitment to policyholders are the ones who will stand out. I would say the mutuals in particular are extremely well positioned in this environment.

Snyder: We know that several of our friendly competitors in this market are planning to enter the long-term care hybrid space. I think it is good for the industry to have more choice for consumers because long-term care is one of the biggest unmet needs in the market.

More consumers are recognizing that self-funding long-term care is not the most efficient approach, particularly given the flexibility available through today's linked-benefit solutions.

We offer a cash-indemnity solution that provides tremendous flexibility in how the benefits can be used and we never increase prices for these policies once sold. You do not have to use or lose it as you did with standalone long-term care insurance. If you need it, you have it; if you do not, your beneficiaries get a death benefit, or you can get your money back.

To make linked benefit protection even more accessible for consumers who may have trouble qualifying for a life solution, we launched our CareMatters Annuity product, which delivers about 95% approval. The response to CareMatters Annuity has significantly exceeded our expectations. In fact, we hit our annual plan in February, and I think it is possible by the end of the year, we might be ten times our original plan for CareMatters Annuity.