National Life Group Life Insurance Review

Life insurance protection should be considered when creating any financial plan. This is because the proceeds from a life insurance policy may be used for a broad range of reasons by your survivors. These can include the payoff of debt – including a home mortgage – as well as paying for the funeral and other final expenses and making sure that the monthly bills can continue to be paid.

When you are searching for the best life insurance policy, it is important to ensure that you obtain the proper type of coverage, as well as the right amount. It is also essential that you review the life insurance carrier that you are considering purchasing the coverage through to make sure that it is secure and active standing for paying out its policyholders’ claims. One insurance carrier that meets these criteria is National Life Group.

The History of National Life Insurance

National Life Group has been in the business of providing financial protection to its customers for nearly 170 years. Its founders were innovators who created one of the very first mutual life insurance companies in the United States – and the first to have a national vision. Today, the company has millions of clients, and it works from a deep passion for ensuring that good is done each and every day.

This insurer directs its offerings primarily to those who live and work on America’s “Main Streets.” In doing so, the company has been able to provide financial stability to American families during both good times and bad.

National Life Group also has a mission of making the world a better place through grants from its charitable foundation, as well as paid time for the company’s employees to volunteer at non-profits. It ensures that its work sites are both environmentally sustainable and healthy, as well as fun and family-friendly.

National Life Group has several key locations around the United States, with a campus in Montpelier, Vermont, and in Addison, Texas. The company’s Sentinel Investments subsidiary is located in Boston, Massachusetts.

National Life Group Life Insurance Review

National Life Group offers a full range of insurance and financial services, which can remain with their clients no matter what phase of life they are in. The company’s products are offered in all 50 of the U.S. states.

National Life has weathered many challenging times throughout the years. For example, it paid out more than $1 million in claims during the Spanish influenza epidemic of 1918 and 1919, while it was continuing to pay World War l claims at that same time.

Today, National Life Group maintains a robust and stable financial footing, and it is known for making timely payments of its claims.

Insurer Ratings and Better Business Bureau (BBB) Grade

Due in large part to its financial strength and stability, National Life Group has earned high ratings from the insurer rating agencies. This includes an A+ from A.M. Best Company. Also, even though National Life Group is not an accredited company through the Better Business Bureau (BBB), the BBB has given the company a grade of A+, based on a scale ranging from A+-F.

Over the past three years, National Life Group has settled a total of 13 customer complaints through the Better Business Bureau, with seven of these complaints being closed out within the past year. Of the 13 total complaints, 10 had to do with problems with the company’s products and services, and the other three dealt with billing and/or collection issues.

Life Insurance Coverage Offered Through National Life

National Life Group offers products to both individuals and businesses – and the company provides a broad range of life insurance coverage to choose from. These include both term and permanent life insurance options.

For individuals and families, the company’s term life insurance provides a guaranteed death benefit amount for a set period. While in the level-term insurance period, the amount of the premium that is due may not be increased.

Because term life insurance offers death benefit coverage only – without any cash value or savings build-up – the premiums can be very affordable. This is particularly the case if the insured is young and healthy at the time of application.

National Life Group also has several different permanent life insurance plans available. With permanent life insurance, there is a death benefit, as well as a cash value component that is attached to the policy. 

The types of permanent life insurance that are offered through National Life Group include:

• Whole Life

• Universal Life

• Indexed Universal Life

• Variable Universal Life

Whole life insurance is designed for those who are seeking guaranteed, and who want to maintain coverage for the remainder, or the “whole,” of their lifetime. This type of insurance provides a guaranteed amount of death benefit and a cash value that grows using a rate that is set by the insurance company.

Because National Life Group is a mutual company, the cash value in the company’s whole life plans may be enhanced by the receipt of dividends. Although they are not guaranteed, if a bonus is available, it may be taken by the policyholder in the form of cash, or the funds from the dividend may be used to purchase additional amounts of insurance coverage.

Also, whole life insurance offers level premiums that cannot be increased during the term of the policy. This is the case, even as the insured’s age goes up, and even if he or she contracts an adverse health condition.

Another type of permanent life insurance plan that is offered by National Life Group is universal life insurance. A universal life insurance policy provides more flexibility than whole life in that both its death benefit and its premium may be changed (within certain guidelines) to meet the policyholder’s changing needs over time.

The policy’s cash value is credited with an interest rate that is set by the insurance company – and that may change, but will never be lower than a set guaranteed minimum rate of interest. This can help the cash in the policy to grow and compound.

In addition to regular universal life insurance, National Life Group also offers indexed universal life insurance coverage. These policies also provide a death benefit and a cash value component. 

If the underlying index (or multiple indexes) has a positive return, the policy’s cash account will be credited – usually up to a certain “cap.” If, however, the underlying market index performs poorly within a given time frame, the policyholder’s principal will be protected, and the cash value account will just be credited with a 0%.

There is also another type of universal life – variable universal life insurance – that is offered by the National Life Group. This kind of policy is for those who need life insurance, but who also would like to have more control over how the policy’s cash value is invested.

The cash component of a variable universal life insurance policy will have its return based on underlying investment options – typically mutual funds. This gives the policy the opportunity to attain high yields. It also, however, can present more risk.

The variable universal life insurance policies offered through National Life Group are distributed by Equity Services, Inc., which is a registered broker/dealer affiliate of National Life Insurance Company. Due to their investment component, variable universal life insurance policies are considered to be securities, and will, therefore, require that a prospectus is presented to a client before he or she moves forward with the purchase.

Products and Services Available

In addition to life insurance coverage, there are other products and services offered through National Group Life. These include:

• Mutual Funds – National Life Group offers a wide variety of different mutual funds. These include income/bond funds, as well as stock/equity funds, index funds, and money market funds. The company also offers exchange-traded funds (EFTs).

• Retirement Annuities – Because people are living much longer today than ever before in history, outliving one’s income in retirement is a big concern. An annuity can help to calm these fears, though, by providing an income for life. National Life Group offers both immediate and deferred annuities, as well as those that are categorized as fixed, fixed indexed, and variable. The choice of an annuity will depend on some factors, including a client’s time frame until retirement, risk tolerance, and overall financial goals and needs.

• IRAs (Individual Retirement Accounts) – An individual retirement account can help people save for the future in a tax-advantaged manner. National Life Group offers both traditional and Roth IRAs.

• Retirement Plans – National Life Group serves businesses’ financial needs, too, as well as the needs of companies’ employees. One way it does so is through the offering of retirement plans. The plans that are offered by National Life include 403(b) and 457(b) options. These plans can help employees save for retirement in a tax-deferred manner, and in turn, allow their money to grow and compound over time. In helping employers to assist their employees, National Life Group also provides retirement plan sponsor services.

National Life Group also assists business owners with their own planning needs, such as growing their companies and making plans for transferring their business when the time comes. This includes preparing for the unexpected.

National Life Group’s Comprehensive Financial Offerings

Products and Services	Description
Mutual Funds	• Diverse Investment Options • Income, Equity, Index, and Money Market Funds • Exchange-Traded Funds (ETFs)
Retirement Annuities	• Secure Income for Life • Immediate and Deferred Options • Fixed, Fixed Indexed, and Variable Annuities
IRAs (Individual Retirement Accounts)	• Tax-Advantaged Retirement Savings • Traditional and Roth IRA Options
Retirement Plans	• Employee-Focused 403(b) and 457(b) Plans • Tax-Deferred Retirement Savings • Retirement Plan Sponsor Services
Business Planning	• Support for Business Growth and Transition • Preparation for Unforeseen Circumstances • Customized Solutions for Business Owners

Premium Rates on Life Insurance Coverage From National Life Group

If you are seeking the best premium rates on life insurance coverage from National Life Group – or from any insurance carrier – it can be helpful to use an independent life insurance agency or broker. That way, you will be able to compare plans, companies, and prices impartially, all in one convenient place. From there, you can determine which will work best for you and your budget.

We can help you shop and compare the right life insurance coverage options. We are an independent life insurance brokerage, and we work with many of the best life insurance carriers in the marketplace today. We can provide you with all the crucial details that you need for making a well-informed purchasing decision – and we can do so for you quickly and easily, without you having to meet in person with a life insurance agent. If you are ready to proceed, then just simply fill out our quote form.

We realize the purchase of life insurance is a big decision. There are many different variables to consider – and you want to make sure that you are going with the right plan and protection for your specific needs. But the good news is that this experience can be done much easier when you are working with an ally on your side. So, contact us today – we’re here to help.

The Bottom Line

Life insurance serves as an integral part of any comprehensive financial plan, ensuring that loved ones are protected against unforeseen financial burdens after the passing of a policyholder. The history, stability, and offerings of National Life Group demonstrate their commitment to safeguarding families for nearly two centuries. Not only does this company have a track record of meeting policyholders’ needs, but their focus on community service and environmental sustainability sets them apart as a socially responsible entity.

Their diverse range of insurance products, from term to variable universal life, offers options tailored to individual and business needs. Given the positive ratings and recognition from reputable agencies like A.M. Best and the Better Business Bureau, the National Life Group stands out as a reliable choice for those in search of comprehensive life insurance coverage. Utilizing the services of an independent broker, like the one suggested in the article, can help potential policyholders navigate their options and make an informed decision about their life insurance needs.

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