<ARTICLE> 7
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM NATIONWIDE
LIFE INSURANCE COMPANY'S ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER
31, 1998, AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH CONSOLIDATED
FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000,000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<DEBT-HELD-FOR-SALE>                            14,245
<DEBT-CARRYING-VALUE>                                0
<DEBT-MARKET-VALUE>                                  0
<EQUITIES>                                         127
<MORTGAGE>                                       5,328
<REAL-ESTATE>                                      244
<TOTAL-INVEST>                                  20,742
<CASH>                                               3
<RECOVER-REINSURE>                                   0
<DEFERRED-ACQUISITION>                           2,022
<TOTAL-ASSETS>                                  74,342
<POLICY-LOSSES>                                 19,767
<UNEARNED-PREMIUMS>                                  0
<POLICY-OTHER>                                       0
<POLICY-HOLDER-FUNDS>                                0
<NOTES-PAYABLE>                                      0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             4
<OTHER-SE>                                       2,769
<TOTAL-LIABILITY-AND-EQUITY>                    74,342
<PREMIUMS>                                         200
<INVESTMENT-INCOME>                              1,482
<INVESTMENT-GAINS>                                  28
<OTHER-INCOME>                                      67
<BENEFITS>                                       1,245
<UNDERWRITING-AMORTIZATION>                        215
<UNDERWRITING-OTHER>                               420
<INCOME-PRETAX>                                    557
<INCOME-TAX>                                       190
<INCOME-CONTINUING>                                367
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       367
<EPS-PRIMARY>                                     0.00
<EPS-DILUTED>                                     0.00
<RESERVE-OPEN>                                       0
<PROVISION-CURRENT>                                  0
<PROVISION-PRIOR>                                    0
<PAYMENTS-CURRENT>                                   0
<PAYMENTS-PRIOR>                                     0
<RESERVE-CLOSE>                                      0
<CUMULATIVE-DEFICIENCY>                              0