National Life Group IUL Review
Even though National Life, formally known as National Life Group, doesn’t have the same brand recognition as many indexed universal life insurance (IUL) companies, it’s well worth your consideration if you’re in the market for a policy.
If you’re unfamiliar with National Life, you can visit this page of its website to learn more about its many life insurance products. You’ll soon come to realize that its IUL policies are among the most popular, thanks to a wide variety of benefits and industry competitive pricing (although not the cheapest).
For more than 165 years, National Life has been providing customers across the country with comprehensive life insurance coverage. From everyday working people to celebrities and everyone in between, National Life takes great pride in having something to offer every type of consumer.
The Good
Strong Financial Ratings
You never want to purchase indexed universal life insurance from a company with weak financial ratings, as this has the potential to cause trouble in the future, such as if the company goes out of business.
With National Life, this is never a concern. For many years, the company has been well known for its strong financial ratings, including the following:
- A (Excellent) A.M. Best
- AA+ (Strong) S&P Global Ratings
- A2 Good Moody’s Investor Service
Yes, there are other insurance companies with a stronger financial profile, but National Life remains in the top tier. This is good enough to give you peace of mind.
Financial Calculators
Do you have questions about how much indexed universal life insurance you should purchase? Are you wondering how life insurance factors into your retirement plan?
These types of questions are never easy to answer, especially on your own. Fortunately, National Life has a variety of financial calculators for you to use, all of which will help you answer various financial questions.
Plenty of Options
Not only does National Life sell every type of life insurance policy, but it also has multiple IUL policies to ensure that you get the one that’s best for you.
If you’re on the fence, National Life lends some insight into what type of consumer should purchase IUL:
“May be ideal for those who need death benefit protection but are focused on cash value accumulation for lifetime needs such as supplementing retirement income.”
Some of the many benefits of a National Life IUL policy include:
- Flexible premium to fit any budget
- Flexible death benefit
- Cash value growth that’s tied to a market index,
- Downside protection
With these benefits, you owe it to yourself to learn more about National Life and its many offerings.
The Not So Good
The Pricing
Once you move past the National Life website and onto third party reviews, you’ll find many consumers wondering if they’ve overpaid for coverage.
There’s no way of knowing for sure, outside of requesting a quote, so that’s where you should start. You can then compare the price offered by National Life to others.
The general consensus seems to be that National Life indexed universal life insurance policies are priced somewhere between 10 and 15 percent higher than like competitors.
Of course, your premium is based on a variety of factors, including your health, age, and death benefit.
Overall, it’s not the cheapest option, but it’s far from the most expensive.
For a comparison you can read our article about Indexed Life Insurance Cost.
Difficult to Purchase
If you’re interested in buying indexed universal life insurance from National Life, you’ll need to work through a financial professional, such as a broker. This isn’t a big deal, as a broker can help you save money, but it does limit how much research you can do on your own.
Adding to this, there are complaints about National Life’s customer service experience, so this is something to keep in mind.
Final Word
National Life and its indexed universal life insurance policies are not the cream of the crop, but they’re also not the bottom of the barrel.
It’s on par with many similar companies, such as Securian, so it never hurts to request a quote and compare it to others. It’s not right for everyone, but it may be best for you.
