Prospectus supplement dated May 1, 2016
to the following prospectus(es):
BOA America's Income Annuity prospectus dated May 1,
2014
BOA Last Survivorship II, BOA ChoiceLife
Survivorship, BOA ChoiceLife Survivorship II, Next Generation Survivorship Life, BOA Protection Survivorship Life, and BOA ChoiceLife Protection prospectus dated May 1, 2009
BOA MSPVL II (BOA MSPVL Future), BOA Protection FPVUL, and
BOA ChoiceLife Protection FPVUL prospectus dated May 1, 2008
This
supplement updates certain information contained in your prospectus. Please read it and keep it with your prospectus for future reference. |
The following disclosure changes are made to the
prospectus:
1)
The Treatment of Unclaimed Property section in the prospectus is deleted and replaced in its entirety with the following:
Treatment of Unclaimed Property
Every state has unclaimed property laws which generally
declare annuity contracts or life insurance policies to be abandoned after a period of inactivity of three to five years from the contract’s annuity commencement date or policy maturity date or the date Nationwide becomes informed that a death
benefit is due and payable. For example, if the payment of a death benefit has been triggered, but, if after a thorough search, Nationwide is still unable to locate the beneficiary of the death benefit, or the beneficiary does not come forward to
claim the death benefit in a timely manner, the death benefit will be surrendered and placed in a non-interest bearing account. While in the non-interest bearing account, Nationwide will continue to perform due diligence required by state law. Once
the state mandated period has expired, Nationwide will escheat the death benefit to the abandoned property division or unclaimed property office of the state in which the beneficiary or the contract/policy owner last resided, as shown on
Nationwide’s books and records, or to Ohio, Nationwide’s state of domicile. If a claim is subsequently made, the state is obligated to pay any such amount (without interest) to the designated recipient upon presentation of proper
documentation.
To prevent escheatment, it is important to
update beneficiary designations - including complete names, complete addresses, phone numbers, and social security numbers - as they change. Such updates should be sent to the Service Center.
2) Effective May 1, 2016, any and all references to "underlying
mutual fund payments" are deleted and replaced with "underlying mutual fund service fee payments" in the prospectus and/or SAI.
3) Effective May 1, 2016, any and all references to "mutual fund
payments" are deleted and replaced with "mutual fund service fee payments" in the prospectus and/or SAI.
The following investment option(s) are only available to
contracts/policies for which good order applications were received prior to May 1, 2016:
•
|
Dreyfus Variable Investment
Fund – Appreciation Portfolio: Initial Shares |
•
|
Janus
Aspen Series – Overseas Portfolio: Service Shares |
The prospectus offers the following underlying mutual fund(s)
as investment option(s) under the contract/policy. Effective May 1, 2016, the name of the investment option(s) are updated as indicated below:
CURRENT
NAME |
UPDATED
NAME |
Van
Eck VIP Trust – Emerging Markets Fund: Initial Class |
VanEck
VIP Trust – Emerging Markets Fund: Initial Class |