National Life Insurance Review - Understand The Pros And Cons! (Complete Breakdown)

National Life Insurance Review - Understand The Pros And Cons! (Complete Breakdown). In this video I will talk about National Life Insurance.

Let’s start with a brief overview.
National Life Insurance is one of the oldest life insurance providers in the United States with experience of more than a century. It was established in 1848 with a coverage cap of over $10 Million.

The following are what I thought were the main pros and cons.
Pros
• Inclusion of policies that do not require a medical exam.
• Dividends on whole-life policies.
• Living benefits, funds can be accessed in case of critical, chronic, and terminal illnesses.
Cons
• No online quotes, meaning you have to go through an agent to get a quotation.
• High-cost premiums, the term policies offered by National Life are about 40% higher than the industry average.

Now let’s look at some of the main features that make it stand out from the rest.
Living benefits
National Life Insurance offers products with living benefits, allowing the insured to receive financial compensation in case of terminal, chronic, or critical illness. This is usually a standard feature on many of its policies.

No-medical-exam policies
For policies up to $3 million, National Life Insurance does not require medical exams for individuals under the age of 50. This feature is particularly appealing to those seeking a policy with quick approval. In contrast, competitors like Northwestern Mutual require a paramedical exam as part of their underwriting process.

So, the following is who it’s best suited for.
• Anyone seeking a whole life, universal life, or term life policy.
• Individuals looking to benefit from the dividends and riders in their life policies.

My overall verdict
I find National Life Insurance good for individuals looking to purchase a life policy since it has been around for a century and a half, which has enabled it to build a reputable name for itself. However, it would be better if they reduced their costs to the industry average.

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