Nationwide VL Separate Account-G

10/03/2024 | Press release | Distributed by Public on 10/03/2024 12:04

Summary Prospectus for New Investors by Investment Company - Form 497VPI

Nationwide Advisory VUL (333-253123)
Supplement dated October 3, 2024
to the following initial summary prospectus(es):
Nationwide Advisory VUL dated May 1, 2024
This supplement updates certain information contained in your initial summary prospectus. Please read and
retain this supplement for future reference.
At a meeting held on May 24, 2024, the Board of Trustees of Guggenheim Variable Funds Trust, approved the merger of the Guggenheim Variable Funds Trust (the "Target Fund") into the New Age Alpha Variable Funds Trust (the "Acquiring Fund"). Subject to shareholder approval, the merger will be effective on or about October 25, 2024 (the "Effective Date").
Target Fund
Acquiring Fund
Guggenheim Variable Funds Trust - Series Q (Small Cap Value
Series)
New Age Alpha Variable Funds Trust - NAA Small Cap Value
Series
As of the Effective Date, the following changes apply to the policy:
•
the Target Fund will no longer be available to receive transfers or new purchase payments;
•
the Target Fund will transfer all or substantially all of its assets to the Acquiring Fund in exchange for shares of the Acquiring Fund; and
•
the Acquiring Fund will be added as an underlying mutual fund available under the policy and will assume all liabilities of the Target Fund.
Accordingly, the following changes apply to the prospectus:
(1) Appendix A is amended to add the following:
Type
Underlying Mutual Fund and Adviser/
Subadviser
Current
Expenses
Low Cost
Fund Platform
Fee1
Current
Expenses +
Low Cost
Fund Platform
Fee
Average Annual
Total Returns
(as of 12/31/2023)
1
year
5
year
10
year
Equity
New Age Alpha Variable Funds Trust - NAA Small
Cap Value Series
Investment Advisor: New Age Alpha Advisors, LLC
1.12%*
0.00%
1.12%
10.28%
10.21%
5.55%
*
This underlying mutual fund's current expenses reflect a temporary fee reduction.
1
Reflects the current Low Cost Fund Platform Fee. The maximum Low Cost Fund Platform Fee applicable for any Sub-account is 0.35%. For Contracts issued between May 1, 2007 and December 29, 2013, and which have not elected the Low Cost Fund Platform Fee Endorsement, the Company imposes a Transaction Fee.
(2) All references in the prospectus to the Target Fund are deleted and replaced with the Acquiring Fund.
ISP-0805
1