UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 31, 2006 (January 30, 2006)

NATIONWIDE LIFE INSURANCE COMPANY

(Exact name of registrant as specified in its charter)

Registrant’s telephone number, including area code: (614) 249-7111

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

Item 8.01 – Other Events

On January 30, 2006, A.M. Best Company, Inc. (A.M. Best) issued a press release announcing that it had affirmed the “A+” (Superior) financial strength rating and the “aa-” issuer credit rating of Nationwide Life Insurance Company (NLIC) as well as the debt ratings for all outstanding debt securities of NLIC. In addition, A.M. Best affirmed the “A+” (Superior) financial strength rating and assigned an “aa-” issuer credit rating to Nationwide Life and Annuity Insurance Company (NLAIC), a wholly-owned subsidiary of NLIC. All ratings have a stable outlook.

Item 9.01 – Financial Statements and Exhibits

Exhibit 99.1    Summary of ratings actions taken by A.M. Best on January 30, 2006

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.