Prospectus supplement dated May 1, 2015
to the following prospectus(es):
BOA CVUL (NLAIC) and BOA CVUL Future (NLAIC) 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. |
1) The following disclosures are added to the prospectus. Any
conflicting information in the existing prospectus is superseded by the following:
Cybersecurity
Nationwide's businesses are highly dependent upon its computer
systems and those of its business partners. This makes Nationwide potentially susceptible to operational and information security risks resulting from a cyber-attack. These risks include direct risks, such as theft, misuse, corruption and
destruction of data maintained by Nationwide, and indirect risks, such as denial of service attacks on service provider websites and other operational disruptions that impede Nationwide's ability to electronically interact with service providers.
Cyber-attacks affecting Nationwide, the underlying mutual funds, intermediaries, and other service providers may adversely affect Nationwide and Contract Values. In connection with any such cyber-attacks, Nationwide and/or its service providers and
intermediaries may be subject to regulatory fines and financial losses and/or reputational damage. Cyber security risks may also impact the issuers of securities in which the underlying mutual funds invest, which may cause the underlying mutual
funds to lose value. Although Nationwide undertakes substantial efforts to protect its computer systems from cyber-attacks, including internal processes and technological defenses that are preventative or detective, and other controls designed to
provide multiple layers of security assurance, there can be no guarantee that Nationwide, its service providers, or the underlying mutual funds will avoid losses affecting contracts due to cyber-attacks or information security breaches in the
future.
In the event that contract/policy values are
adversely affected as a result of the failure of Nationwide's cyber-security controls, Nationwide will take reasonable steps to restore contract/policy values to the levels that they would have been had the cyber-attack not occurred. Nationwide will
not, however, be responsible for any adverse impact to contract/policy values that result from the contract owner or its designee's negligent acts or failure to use reasonably appropriate safeguards to protect against cyber-attacks.
Currency
Any money Nationwide pays, or that is paid to Nationwide, must
be in the currency of the United States of America.
The
first paragraph of the Types of Payments Nationwide Receives section is deleted in its entirety and replaced with the following:
In light of the above, the underlying mutual funds and their
affiliates make certain payments to Nationwide or its affiliates (the "payments"). The amount of these payments is typically based on a percentage of assets invested in the underlying mutual funds attributable to the contracts and other variable
contracts Nationwide and its affiliates issue, but in some cases may involve a flat fee. These payments are made for various purposes, including payments for the services provided and expenses incurred by the Nationwide companies in promoting,
marketing and administering the contracts and underlying funds. Nationwide may realize a profit on the payments received.
The following paragraph is added to the Amount of Payments Nationwide Receives section:
For contracts/policies owned by an employer sponsored
retirement plan, upon a plan trustee's request, Nationwide will provide a best estimate of plan-specific, aggregate data regarding the amount of underlying mutual fund payments Nationwide received in connection with the plan's investments either for
the previous calendar year or plan year, if the plan year is not the same as the calendar year.
2) Effective May 1, 2015, the following underlying mutual
fund(s) are added as investment option(s) under the policy. The investment option(s) are added to Appendix A: Underlying Mutual Funds: