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                                                                      Exhibit 23
   
                             ACCOUNTANTS' CONSENT
                             --------------------
 
 The Board of Directors of Nationwide Life Insurance Company:
 
 
 
 
We consent to the use of our report included herein and to the reference to our
firm under the heading "Consolidated Financial Statements and Supplementary
Data" in the Prospectus.  Our report dated February 26, 1996 included herein
refers to several changes in accounting principles.  In 1994, the Company
changed its accounting for investments in debt and equity securities.  In 1993,
the Company changed its accounting for income taxes and postretirement benefits
other than pensions.  Our report also refers to certain matters regarding
participating insurance and the related surplus.  The Company and its counsel
are of the opinion that the ultimate ownership of the participating surplus in
excess of the contemplated equitable policyholder dividends belongs to the
shareholder.  The consolidated financial statements are presented on such
basis.
 
 
 
 Columbus, Ohio                                          KPMG Peat Marwick LLP
 April 15, 1996