Quick answer
National Life Group (NLG) is an A rated mutual insurance holding company founded in 1848 and headquartered in Montpelier, Vermont. NLG operates through three subsidiary brands - Life Insurance Company of the Southwest (LSW), National Life Insurance Company (NLIC), and Sentinel Investments. NLG is best known for the LiveWell product family and for offering the deepest combined set of living benefit riders (chronic, critical, and terminal illness accelerated benefit riders) in the U.S. market.
Our take on National Life Group
The National Life Insurance Company can trace its roots back to 1848. The company would later play a role in claims resulting from the sinking of the Titanic, the Spanish flu pandemic, and the casualties of World War II. In 2006, the company formed the National Life Group Foundation, which contributes to projects across the United States. In 1999, National Life purchased completed the acquisition of Life Insurance Company of the Southwest (LSW).
Today, the company provides a variety of financial services, including life insurance and annuities. With a full range of products and services, National Life offers some very attractive offers.
Their full line of permanent and whole life insurance products provides excellent, flexible investment strategies, as well as options for a continual stream of retirement income. We also like their ProtectorLife policy, which allows you to purchase a term life insurance product and strategically convert it to a permanent policy over a 10 or 20-year interval.
While they don’t offer guaranteed-issue life insurance policy options, their diverse selection of products is sure to provide an insurance or investment solution for those who are looking for long-term planning solutions.
| A.M. Best Rating | A |
| S&P Rating | A+ |
| BBB Rating | A+ |
| Customer Service Phone | 800-732-8939 |
| Website | www.NationalLifeGroup.com |
| Address | National Life Group, Vermont Campus 1 National Life Drive Montpelier, VT 05604 |
What We Like
Full Range of Policy Options
Life insurance customers can find every policy type under the umbrella of National Life Group.
Term-Permanent Hybrid Options
National provides a policy that strategically converts a term life policy into a permanent policy over a 10 or 20-year period.
Excellent Options for Permanent Policies
National Life’s permanent policies can provide excellent investment strategies and include such benefits as guaranteed income and living benefits.
What We Don’t Like
No Online Quotes
National Life Group’s website does not offer online quotes and they provide little detail about their policies.
Rates Not Competitive for Term Products
If you’re only seeking term products, you can find more affordable options from another provider.
Class Action Lawsuit
Since 2019, National Life Group has been the target of a class-action lawsuit.
National Life Group Insurance Products
Term life insurance
| Length of Coverage | 10, 15, or 20 years |
| Minimum Coverage | Not Specified |
| Maximum Coverage | $1,000,000 |
| Estimated Time to Approval | Immediate |
| Product Features |
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Applicants under the age of 70 are eligible for policies in 10, 15, and 20 year increments. Policy values go up to $1 million.
Level Premiums
The level term life insurance policy ensures that your monthly premiums stay locked in for the duration of the policy, regardless of age.
Conversion Options
National Group allows policyholders to convert their term policy to a permanent policy by age 70 or by the end of the policy term, whichever comes first.
Annual Renewable Term
National Group offers an annual renewable term policy (ART). These policies tend to be used as collateral so you can use life insurance to secure a small business loan. The cost of these policies increases with age and health conditions.
Whole Life Insurance
Whole life insurance is a form of permanent life insurance that lasts for the policyholder’s lifetime. The advantage of these permanent policies is their cash value accumulation, which can be borrowed against at a predetermined interest rate.
National Group offers two distinct whole life insurance plans:
LifeBuilder
This policy allows you to adjust your monthly premiums and your death benefit as your circumstances and needs evolve over time, a feature that is usually only offered with a universal life insurance policy.
Policyholders can pay a level premium over their lifetime, or they can elect to have a payment plan that pays the entirety of their policy over a 5, 10, 15, or 20-year period.
ProtectorLife
This innovative product uses an automatic conversion rider to convert a term policy into a whole life policy. In other words, if you purchase a term life policy, you can use this rider to slowly convert your policy into a whole life policy over a 10 or 20-year period.
Over time, your term life premium decreases, and your whole life premium increases. This gives younger adults the affordability of term insurance when they’re young, but gives them increased security over time.
Universal Life Insurance
Universal life insurance is a specialized form of permanent life insurance that provides greater flexibility, along with various investment options.
National Group offers four different options for basic universal life insurance.
AssurePlus Protector
This basic policy is aimed at those who are seeking to protect specific people and assets, including their family, business, and personal property.
Horizon Universal Life Insurance
This plan comes with living benefits, providing a portion of the death benefit if the policyholder is diagnosed with a terminal, chronic, or critical illness.
IncomeBuilder Universal Life Insurance
This policy brings the option of growing higher cash values when compared to other universal plans. It has a guaranteed growth of 3% per year. It also includes the accelerated death benefit at no additional cost.
Foundation Universal Life
The Foundation plan provides additional options for cash value accumulation and boasts a minimum interest rate of 4% per year. The policy also comes with the option to purchase an annual term life policy for a spouse.
Indexed Universal Life
Indexed universal life insurance is a variation of other universal life insurance. The distinction lies in the ability to invest the cash value in indexed markets such as the S&P 500 or Nasdaq.
National Group offers three indexed policies:
SecurePlus Provider
Policyholders can choose the cash value accumulation amount based on market performance. The policy also comes with two riders at no additional cost:
- The Lifetime Income Benefit Rider (LIBR) provides guaranteed, lifelong income
- Living benefits cover the costs of a chronic or terminal disease
This plan provides stability for the future and can be used to supplement retirement savings.
LifeCycle Solution
This policy is actually a form of survivorship insurance, which basically acts as a two-for-one deal for couples. One policy covers both individuals, and the benefits are paid to the last surviving party.
FlexLife II
This option comes with six crediting options. The downside protection protects you in the event that the market performs poorly.
Like the SecurePlus plan, this policy includes the living benefit and the Lifetime Income Benefit Rider (LIBR).
Variable Universal
National’s variable universal life insurance plans offer the same benefits as their universal policies, though they include sub-accounts that increase with the performance of particular stocks and bonds.
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Policy benefits
Riders
National Life Group also offers riders that can be purchased to further customize their life insurance products. The following is a sampling of their most popular products:
Common National Life Group riders:
- Lifetime Income Benefit Rider - This rider provides a guaranteed income stream for the lifetime of the policyholder. It is included at no cost in the SecurePlus and FlexLife II universal plans.
- Living Benefit Rider - If you are diagnosed with a chronic, terminal, or critical illness, you are entitled to an advance on your death benefit to cover medical and related expenses. This rider is also included at no cost in the SecurePlus and FlexLife II universal plans, as well as the Horizon and IncomeBuilder plans.
- Waiver of Premium - This rider ensures that your policy will not be canceled by waiving premiums if you are disabled by a qualifying accident.
- Accidental Death Benefit - If you are killed in an accident, this rider will pay your beneficiary an additional benefit.
- Children’s Rider - Policyholders can add dependents of qualifying ages to their policy, with small death benefit amounts.
Cost
No online quotes are available for any of National’s policies, and their website only offers sparse details on their policy options.
Term Products Not Competitive
When it comes to affordable life insurance, National’s term policies are not the most competitive. The following are some baseline estimates for the monthly premiums of a 40-year-old man:
- 20-year, $250,000 policy: $25/month
- 20-year $500,000 policy: $35/month
- 20-year $1 million policy: $150/month
Other providers can provide better rates for similar products.
Great Value for Permanent Policies
Permanent policies are always more expensive than term life policies, but they offer features and value that some may find attractive. In the case of National’s policies, some may appreciate the advanced investment features offered by their universal policies.
Performance
Financial ratings
National Life Group has been positively rated by multiple consumer watch groups:
- A.M. Best: A (Excellent)
- S&P: A+ (Strong)
- BBB: A+
These ratings indicate a strong reputation for reliability and financial excellence.
Class Action Lawsuit
Unfortunately, National Life Group has been involved in a class-action lawsuit since 2019. According to the lawsuit, National Life is accused of operating a pyramid scheme that has specifically targeted Asian Americans. This lawsuit has yet to be resolved.
Frequently Asked Questions
Is National Life Group a good life insurance company?
Yes. National Life Group is rated A (Excellent) by A.M. Best with one of the longest operating histories in the U.S. life insurance industry (founded 1848). NLG is a mutual holding company owned by its policyholders, not shareholders, which incentivizes long-term financial stability. The group has over $46 billion in assets under management. NLG is particularly well-regarded for its living benefit rider depth, where it is considered the industry leader.
What is National Life Group's structure?
National Life Group is a mutual holding company that owns three operating subsidiaries: (1) National Life Insurance Company (NLIC) - the original Vermont-based mutual insurer, (2) Life Insurance Company of the Southwest (LSW) - the Texas-based subsidiary that issues most of NLG's indexed universal life products, (3) Sentinel Investments - the asset management arm. Policies are typically written through NLIC or LSW depending on the product and state.
What life insurance products does National Life Group offer?
NLG offers four main product lines: (1) LiveWell Term - level term life in 10/15/20/25/30-year durations, (2) LiveWell IUL (Builder Studio Series) - flagship indexed universal life with high cap rates and strong living benefits, (3) Whole Life - traditional dividend-paying whole life insurance, (4) Survivorship UL - second-to-die universal life for estate planning. The IUL product family is NLG's competitive differentiator.
What are National Life Group living benefits?
NLG includes the deepest combined living benefit rider suite in the U.S. life insurance market on its LiveWell products. The standard rider package includes: (1) Chronic Illness ABR - triggered by ADL impairment for 90 days, up to 100 percent acceleration. (2) Critical Illness ABR - triggered by specific diagnoses (cancer, heart attack, stroke, ALS, organ failure). (3) Terminal Illness ABR - triggered by 12-24-month life expectancy diagnosis. All three are included at no extra premium. This is one of the broadest living benefit suites available.
Does National Life Group require a medical exam?
It depends on the product and face amount. NLG offers an accelerated underwriting program for healthy applicants ages 18-55 seeking up to $1,000,000 of LiveWell Term coverage. For LiveWell IUL and most face amounts above $1,000,000, a traditional paramedical exam is required because the underwriting for permanent products is more comprehensive than for term. Most NLG sales are agent-assisted rather than direct-to-consumer.
How much does National Life Group insurance cost?
Sample monthly rates for a healthy non-smoking 35-year-old female: $500K LiveWell 20-year term, around $23-30/month. $500K LiveWell IUL designed for accumulation, around $300-500/month depending on funding target. Pricing is moderate for term but generally competitive for IUL given the included living benefits. The living benefits bundled at no extra cost give NLG a strong total-value proposition versus carriers that charge extra for similar coverage.
How long does National Life Group take to approve applications?
Accelerated underwriting cases on LiveWell Term return decisions within 24-72 hours for healthy applicants. Traditional underwriting with a paramedical exam takes 3-6 weeks depending on exam scheduling and lab work. LiveWell IUL applications typically take 4-8 weeks because the design (face amount, riders, premium funding pattern) requires more comprehensive review. NLG's underwriting timelines are typical for mutual-affiliated carriers.
Who should buy life insurance from National Life Group?
National Life Group is best for: (1) Buyers prioritizing living benefits (chronic, critical, terminal illness ABRs) - NLG has the broadest combined suite in the market, (2) IUL buyers seeking strong cash-value accumulation with high cap rates via Builder Studio Series, (3) Buyers seeking long-term-care hybrid planning via chronic illness ABR. NLG is NOT the cheapest carrier for vanilla term life; Banner Life and Protective typically beat them on price for pure term coverage without rider focus.
Is National Life Group an MDRT-recognized carrier?
Yes. National Life Group is recognized within the Million Dollar Round Table (MDRT) Center for Field Leadership community and is regularly represented at MDRT events. Many of the top-producing agents in the U.S. life insurance industry recommend NLG products specifically for cases requiring strong living benefits or living-benefit-paired IUL designs.
How do I file a claim with National Life Group?
Beneficiaries can file a claim by calling National Life Group at 1-800-732-8939 or visiting NationalLife.com/Claims. Required documentation includes the certified death certificate, the policy number, and the beneficiary's ID. NLG also handles living benefit acceleration claims (chronic, critical, terminal illness) through the same process. Most death benefit claims are paid within 14-30 days; living benefit claims may take longer due to medical certification requirements.
