Ohio National Whole Life Insurance Review [Demutualized — 2026 Update]

Updated September 10, 2026

We do not recommend Ohio National for new participating whole life. Ohio National Mutual Holdings completed a sponsored demutualization with Constellation Insurance Holdings on March 31, 2022. The life business was later repositioned and rebranded as AuguStar Life (2023). In-force Prestige policies still exist; they are not a current Top Whole Life pick. For new cash-value whole life, use the top whole life companies for cash value and best whole life insurance instead.

AM Best affirms A (Excellent) on AuguStar Life Insurance Company / AuguStar Life Group (stable outlook, 2025 affirmation). That is claims-paying strength on the successor, not a reason to buy a new participating design here.

The rest of this page is a historical review of the old mutual-era products and dividend record — useful if you already own a policy or are researching the brand name.

In 1909, Ohio National was founded as a stock company. Fifty years later it became a mutual. In 1998 it reorganized as a mutual insurance holding company (Ohio National Mutual Holdings, Inc.). That mutual structure ended with the 2022 conversion.

Historical: The Good (mutual era)

Ratings (historical)

When we last treated Ohio National as a current mutual recommendation, published ratings included Moody's A1, A.M. Best A+, and S&P A. Those figures are not current AuguStar ratings — see the 2026 status note above.

Selection (Prestige products — historical)

These product names were the Ohio National whole life lineup we reviewed as a mutual. Treat them as archive, not a 2026 shopping list.

Whole Life Cash Value Rich Products

• Prestige 10 Pay: this is a 10 year, limited pay, whole life insurance policy. After paying your premium for 10 years, you are no longer required to make additional payments.
• Prestige Max: this type of policy is paid until you reach age 65 or for 10 years after purchase, whichever is later, and is designed to help you maximize savings and dividends to grow your cash value.
• Prestige Max II: This is a high premium and high cash flow products. It grows cash value very rapidly. Great for deferred compensation and executive bonus plans. It's even better than Prestige Max.

Whole Life Products For Death Benefit and Low Price

• Prestige Value III: this is the lowest priced whole life insurance policy. Even with cheaper prices, you still have the opportunity to collect dividends.
• Prestige 100: premiums are paid until you reach age 100, with the policy providing guaranteed death benefit protection.

Available Health Classes

Here is the list of available health ratings that you can get in an Ohio National whole life policy. We list them from best to worst:

• Super Preferred
• Preferred Nonsmoker
• Select Nonsmoker
• Nonsmoker
• Select Smoker
• Smoker

The better health rating that you get, the lower the price you will pay.

Participating Whole Life Insurance (historical)

When Ohio National was a mutual, participating whole life could earn dividends. After demutualization that ownership model ended. If you want dividends on a new policy, use a current mutual — start with Guardian whole life insurance review or MassMutual whole life insurance review.

The company used to state that it had paid dividends for more than 90 consecutive years (not guaranteed). That record is historical; see the dividend table below and our whole life dividend rate history (Ohio National is marked demutualized).

Historical: The Not So Good

Service and distribution (mutual era)

When we reviewed Ohio National as a current mutual, service was the weak spot — not product design.

It was not always simple to find a local agent who could quote and walk a buyer through the application. In-force policyholders typically had to call the company for guidance rather than resolving issues online.

The company also had a reputation for not working well with internet leads. A web quote request often went to an agent for a phone call, and some online quotes were priced to look cheaper than they would after underwriting assigned a final health class.

Those distribution notes are historical. If you already own a Prestige policy, service now runs through AuguStar Life, not a new Ohio National illustration. For a current participating quote, get a whole life quote from living mutuals.

Finances (2017 — historical)

Ohio National published the following figures for 2017. They are not 2026 results:

• Total GAAP revenue (excluding realized gains and losses) increased 10.4 percent to $2.2 billion.
• GAAP equity grew at record levels. Equity (excluding mark-to-market) grew to $2.3 billion, an increase of 0.1 percent. Equity (including mark-to-market) grew to $2.6 billion, a 2.3 percent increase.
• Core earnings increased 2.7 percent to $181.5 million. The increase relates to higher than planned fee-related income, offset by higher than planned claims and mortality and less than planned investment income and margins.
• For the 94th consecutive year, Ohio National paid dividends to participating whole life policyholders. A total of $92.0 million was paid or credited to participating policyholders.

Dividend Rate (historical)

As noted above, Ohio National paid a dividend for many consecutive years as a mutual. Here is a look at its historical dividend interest rates versus other whole life dividends. For 2026 published DIRs on living mutuals, use whole life dividend rate history.

Just announced (archive): Ohio National 2019 dividend announcement  

Final Word

Ohio National was a strong participating mutual for many years. After the 2022 demutualization and AuguStar rebrand, we no longer recommend it for new whole life.

If you already own an in-force Prestige policy, keep working with the successor carrier on service. If you are shopping now, compare MassMutual whole life insurance review, Guardian whole life insurance review, Penn Mutual whole life insurance review, and New York Life whole life insurance review — or the best whole life insurance category table.

Get a whole life quote from current mutuals. Do not treat this page as a path to a new Ohio National / AuguStar participating illustration.