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National Life Group Review

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UPDATED: Mar 18, 2020

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Founded in Vermont, National Life Group reached its 170th anniversary in 2018. The group of companies provides life insurance and retirement planning products across the United States.

About National Life

The National Life Insurance Company was chartered in 1848 and sold its first policy two years later. The company would go on to pay millions in claims resulting from World War II, the sinking of the Titanic, and the Spanish Influenza epidemic.

Through the decades the company expanded and acquired other companies moving into financial services and operating as National Life Group. In 2006 the company created the National Life Group Foundation, which has an annual grant budget of $2 million dollars to be granted to chosen projects.

National Life writes life insurance for individuals as well as providing a range of financial services, including annuities. They also provider financial services including retirement plans for businesses.

National Life Group’s headquarters is located in Montpelier, Vermont, and they also have an office in Addison, Texas.

National Life Products

National Life Group still sells its original product – life insurance – as well as several other financial planning products. Information on these products is limited.

Life insurance

National has a full range of life insurance products available, both permanent life insurance and term life insurance. The website provides only a basic overview of these options.

Whole life insurance is available to provide level premiums with a guaranteed death benefit and cash accumulation. The policy also has the possibility of dividends, as National is a mutual company.

Universal policy options are basic, indexed, and variable, offering a range of flexible options for premium payments, death benefits, and cash accumulation with an investment approach.

Term life is also offered as a short-term choice for those needing a large amount of coverage for a specific time period.

A living benefits rider can be added to life insurance policies to provide financial assistance in the event of critical illness or injury.

Annuities

National Life Group offers both immediate and deferred annuities that can be paid for either in a lump sum or as payments over time.

Types of annuities offered are fixed interest rate, indexed, and variable. Like the life policies, living benefits riders can be attached to these products as well.

Financial Planning

In addition to annuities, National Life offers several other retirement planning services and financial products.

Options include mutual funds, 403(B) and 457(B), and both traditional and Roth IRAs.

They also offer retirement plans for businesses, both for business owners and as group benefits.

Rates

Online quoting or rate information is not available for National Life products. There is a contact request form as well as the option to find a local agent in order to obtain rate information.

The lack of product details along with the lack of any online quoting option indicates that this company relies mainly on agent sales and word of mouth to bring in new business rather than on internet searches by potential customers.

Claims

Claims can be filed using a simple online form on the website. There is also a toll-free number available to file over the phone.

The site states that a reply from the company can be expected within five days of submission of the original notice. Beyond that, there is not much information on the site regarding claims procedure.

A customer login area is available where it is likely policyholders can follow up on claims.

Ratings and Consumer Reviews

National Life Group has an A+ rating with the Better Business Bureau (BBB), with 21 complaints on file in the past three years. There are 19 reviews on the site, with a star rating of just over one star. Considering the size of this company, this is a low complaint volume, and there is nothing of major concern in the complaints.

We were unable to find much else in the way of reviews for this company. A lack of reviews is generally a good thing for insurance companies, since people are much more likely to take the time to write one when they are unhappy.

The Bottom Line

There is not enough information on National Life’s products to provide any opinion on the value and benefits they offer. They have been around for a long time, however, and have a solid reputation. They are a good pick for anyone who is looking for a full service financial planning company that can handle both retirement and final expenses planning together.

For a list of companies that we recommend, visit our Best Insurance Companies page.

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Review Information

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National Life Group
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About Eric Stauffer

Author: Eric StaufferI am a former insurance agent and banker turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

56 Comments

  1. Hi Eric

    This is Tyson again, When I look at the real policy, it is so much difference than the same product IUL that shows in sale meeting with the agent.

    She said I have 10-day free look, then she said with the big policy than 2M face amount I will have 154 days free look. Is that legal stipulated?

    This company did not take a physical examination.

    The agent said they use another physical examination by Nationwide that I have at the same time but is pending.

    Is that acceptable practice?

    In the application e-signed It was missing the 2 small Life insurance, it is total $300K form MassMutual and Farmers Group of Insurance. Is that a defect?

    Thank you for reply.

    Tyson Paul

    Reply
  2. Hi Eric

    I have a net worth with total value is about 30 M. I am 70 yrs old.

    National Life offer me an Index Universal Life though Life Insurance Company of the Southwest with premium is about $25,000 / month for a face amount at $5M death benefit and $5M (no guaranty) for ABR Accelerate Benefit Rider.

    This ABR is $30K /month or $1.500,000 Lump sum.

    I request to have Financial Planner to tell me if this Index U Life is suitable? With $304K yearly premium, this policy will lapse in the next 21 years.

    Would you advise If I would buy term life, and then invest on Annuity?

    What is a tax impact on this approach?

    Sincerely
    Tyson

    Reply
  3. Hello Eric, I bought three IUL policies for myself, my husband and my son a few years ago without knowing much about IUL at the time. I basically told the agent what I was looking for which was and still is a guaranteed death benefits and fixed monthly premiums. The policies are hard to understand and I have some concerns due to things I’ve heard about IUL policy. Who do you recommend I talk to and review my policies? Any help is appreciated.

    Reply
    • Hello Sandy, as an agent with NLG your agent should be available to discuss any questions you may have.

      Also, that person could run an in-force illustration to show you how your policies are doing.

      Otherwise, I would be happy to help with any questions you may have.

      Aloha,

      Reply
  4. Hi Eric,
    Do you know about Kai-zen life insurance? http://www.kaizenplan.com/what-is-kai-zen/ Do you think is it so good to be true?
    In short, I’m 48, my premium about 40K per year for 5 years, then at 65yrs old will have an income of 84K per year (tax-deferred – loan withdraw);
    Thank you,

    Reply
    • Hi Brian,

      This is the first I am hearing of it, so I am by no means an expert on this particular plan.

      If I am understanding you, by paying $200k now, you will be entitled to $84k per year in about 15 years. Assuming you mean until you die, then we can do some pretty simple math.

      With an average male life expectancy currently at 79 years old on the US, that means the plan would pay out nearly $1.2 million with a premium of only $200k. If we go with a fairly aggressive rate of return (8%), the $200k would be worth nearly $600k once you hit 65 and start drawing down on it. $84k annual withdrawals would deplete that amount in about 10-12 years or so, even with continuing compounding.

      Its very hard to see how the insurance company could make this profitable on their end, so I would error on the side of caution. It sounds way too good to be true.

      My advice would be to hire an attorney and financial planner that work in this field and have them review everything.

      Best,
      Eric Stauffer

      Reply
      • Thank you, Eric, for your reply.
        It says, from now (at age of 48) every year I pay premium $48k/yr for next 5 years and wait until I’m 65yrs old then I start making a loan $84K/yr for 25 yrs, during now until the end program they provide 1.5mil to 400K life insurance. This is not a simple calculation because it involves with a loan from a bank and tax regulation.
        I did contact some financial planners but it seems like none of them know about this. The insurance agent explains to me that it’s very few people to be qualified because it requires minimum income is 200k/yr.
        Anyway again, thank you for your time to reply.

        Reply
    • Hi, Brian. I a financial advisor and work with Kaizen Company directly. If you would like to know more about this plan you are welcome to contact me at [redacted].

      Reply
      • Hi Joseph,
        Would you mind share with us on this forum? Your information was redacted. I love to know more about this. 1/26/19 is next due date for this plan, is that true?

        Reply
  5. I have a Universal Life Insurance with a face value of 150,000, cash surrender value of over 7,000, small surrender fee and only pay 50 a month. My question is, I just noticed my statement says: The policy protection period is from July 1, 2004, to July 1, 2019. What does that mean?

    Reply
  6. I am in the process of moving an annuity begun in 1992 to another, closer to home, company, with a financial adviser I totally trust. National Life has put roadblock after roadblock in my way. One agent told my adviser I personally had to tell National Life it was my own decision to move the annuity. I had already done this. When I called National Life to clear it up, I was told, “Oh, nobody from here would ever do that.” Being called a liar is, at best, unprofessional! Then they told me when I called after the 16 working days they first told me it would take to process my request (later changed to 18 by another representative), that I needed a release from the third party, in my case, the school where I had worked, to complete the request. That same day, after I became more forceful with a “supervisor,” he assured me the paperwork was complete and he would overnight the check. It took 48 hours to put that check in the mail. I can’t prove that it was my husband’s voice on the phone that got things moving, but it wouldn’t be the first time a male voice got quicker results. I would absolutely not recommend National Life to anyone who values customer service.

    Reply
    • I totally agree. Every time I have called for a status on a withdrawal, the time frame is different. From 10 business days to 14 business days and now 30 business days. This is absolutely ridiculous. This time and the last time, I asked to speak to a supervisor who is never available. The customer service is horrendous and information designated to the customer is never the same or consistent. I just want my funds somewhere else with a company I can trust and whose information and practices are consistent. The customer should always come first.

      Reply
  7. Can you please explain National Life Group offering.
    Guaranteed income for life!
    Our innovative Guaranteed Lifetime Income Rider (GLIR) adds valuable benefits to your policy. By adding GLIR to your policy, you can receive guaranteed lifetime income,4 have access to your accumulation value if your needs change and leave any remaining amount to your beneficiaries when you pass.
    Seems to good to be true.
    Thank you for your help.

    Reply
  8. I also am looking into UIL through National Life Group, I’m 61 yo do have pension, 401k and will have social security. Looking into ways to generate another stream of income and not just saving in bank, with some tax benefits. I’ll pay 1500/m but can deposit more for ten years then can began pulling tax free as loan. I was going to stop dumping so much into 401k and reroute to this plan. Going to work 5 more years at corporate job.No kids,have properties and am a business owner work on the side.Your thoughts on this plan for for me.

    Reply
    • Hi Raymond,

      Its tough to give a recommendation on a product like this without having a clear picture of your entire financial situation. That being said, I have worked with a trusted advisor on these matters for years, and am more than willing to introduce you to them. If that sounds like something you would be interested in, send me a quick message through our contact page:

      https://www.expertinsurancereviews.com/contact/

      Best,
      Eric Stauffer

      Reply
  9. Hi Eric,
    I have noticed that you highly recommend contacting a FEE ONLY based financial planner. It has been my experience that financial planners FEE ONLY or not tend to only give the info they want you to follow. I did my own research and decided that an IUL from LSW was best for me. People have to remember that any money in the market is 100% at risk. At my age now of 69, I cannot afford to lose money. When I initially gave my husband’s insurance money to a financial planner, it was put totally in the market which was when I was 55yrs. Yes, I lost money that I could not afford to lose. Although FEE ONLY sounds good, the consumer still needs to do the research. I have learned not to trust anyone.

    Reply
    • Hey Cherry,
      I completely agree with you that the consumer should do their own research. The job of a good advisor is to provide clarity, direction, and education on someone’s entire plan, and most importantly act in a fiduciary capacity – putting the client’s best interest above anything else.

      Not knowing your full situation but going by your age alone – you may want to research indexed annuities as well. Unless you have a need for a large amount of insurance, the underlying cost of insurance in an IUL will likely be very expensive for someone who is 69, and ultimately detract from the percentage of your premium that goes toward the cash value. An indexed annuity will have a similar investment floor, such that your principal cannot lose value.

      Reply
    • Hi Cherry,

      I couldn’t agree more about doing your own research. Unfortunately, when in a one-way dialogue (website to reader) its difficult to dive in much deeper than general advice. I am positive that there are commission-based planners that are better than some fee-based planners, but the general lesson here is making sure people’s incentives do not work against you.

      I had a family member tell me recently that they were going to meet with their financial planner. Turns out they meet with them every quarter to “re-balance” their portfolio. After reviewing their post-meeting documents, this re-balancing exercise was basically an effort to move their money around from various load-based mutual funds. My back-of-the-napkin math showed they paid nearly $1200 in fees for that meeting.

      THAT is what I want people to avoid. Its an absolute rip-off.

      Best,
      Eric Stauffer

      Reply
  10. Hi,
    Want to know how is flex-2 life insurance? Do they pay living life benefits, death benefits, supplimental income in a scenario where I might be living out of US permanently? Do they consider doctors certificates issued out of US for living or death benefits?

    Reply
  11. My husband is 64 and is getting a indexed universal life with National Life group which our broker recommended, paying $1000.00 a month for 15 years and then it will pay $17,000 for the rest of his life. It pays $209,000 upon death. We are both seniors, and have a mortgage of $300,000 and no savings, but my husband makes a good income.
    Not sure though if this is a wise investment,
    Is their another recommendation to go or do you think this is a good choice?

    Reply
    • Hi Andrea,

      I do not know your personal situation, so I cannot give you a direct recommendation.

      What I can say is that I would never trust the word of a sales agent that stands to profit from selling me something, unless I had spoken with an independent expert that could look at the details.

      If I were you, I would speak with a FEE-BASED financial planner in your area, before forking over those kinds of dollars. Someone that is not a sales person, and simply collects a fee from you to sit down and give you unbiased advice.

      Best,
      Eric Stauffer

      Reply
    • Hi Andrea,
      Working through the math (and please correct me if I miss something), paying in $1000/mo for 15 yrs would be a total of $180k by the time your husband is 79 years old. Assuming the agent’s projection of withdrawing/loaning yourself $17,000 per year thereafter – it would take about 10.5 years to reclaim the original $180k investment, at which time your husband is approaching 90. That’s just to “get back to even,” so to speak. Given that your husband is already 64, the cost of insurance for him is likely very high, which detracts from the amount of your premium that goes toward the cash value, thus minimizing the amount that can grow and earn interest. I will say that periodically I do recommend using indexed universal life insurance in retirement planning, but I don’t think it’s wise in this case. Given your husband’s age, it would be cost prohibitive.

      Like Eric says, I don’t know your particular situation, so I can’t give you a direct recommendation, but based on the little information that I do know, an IUL is probably not the best option for your husband.

      I hope this was helpful,
      Ryan Harrington

      Reply
    • Hello,

      An IUL in this situation would not be the way to go. Even though Indexed Universal Life policies cover a lot they are mainly utilized to set you up for retirement prior to age 67. You may want to consider looking into an annuity .

      Reply
  12. UL and IUL are sucker plans and should be illegal

    Reply
    • Obviously Jerry you know very little about these products. IULs are one of the safest retirement plans out there along with indexed annuities. Where else can you find something where you can participate in the market gains, but guaranteed to not lose when the market drops? By the way that’s a quote straight from Tony Robbens who is a big support of these products.

      Reply
      • I agree 110% UL and IUL are sucker plans and should be illegal. Of course if you invest in this junk you limited upside potential because the insurance company takes their cut out of your savings/investment. Just invest in the S&P 500, especially if your younger. What junk the insurance companies hawk to hard-working teachers and the rest of us. Shame, shame, shame.

        Reply
  13. Hi,

    I bought three policies from National Group Life. $1 M for myself and a half million each for my two boys. Three policies were effective April 2016. I paid yearly premiums (total $9,000) for my two boys policies.

    In November, I have received a letter saying that “your contract is no longer classified as a Modified Endowment Contract (MEC). As requested,we have removed the excess premiums from the contract and enclosed is a refund check in the amount of $xxx. ” I was surprised to receive those two letters for my sons’ policies. I found out that NLG drew the monthly premium as well even though I have paid the yearly premium at once. On my application, the agent chose the monthly premium auto-draw.

    I called NLG and asked to refund the check. No action. I called three times. No action. In December, I called and requested the full amount premium refund since I am concerned with the company and the future tax consequence. NLG said that they can only refund me the money withdrew after the big check. Anyway, I can file complaints or sue the company.

    Thanks.

    Reply
    • My husband had a term policy for a number of years with NGL. Toward the end of the policy term, he was contacted to convert his policy to a LTC policy. The conversation of the policy took place in Jan. 2016. After careful review of the policy, he contacted the agent about the omission of a rider known as “Critical Care Rider” He was told to wait 3 months & call back to have the additional rider added. He did. No response. We both contacted the agent again 3 months later – no callback. Today after repeated messages, the agent called back to inform us that the State Of Virginia no longer allows insurance companies to add a Critical Care Rider to any policy. I’m unable to verify that National Group Life is providing correct information. Does anyone know of any recent change in Virginia?

      Reply
    • It’s crazy that, other than promising the annual return to lure you to buy a policy, the insurance agent cannot even explain/understand the fees associated with the policy. Seriously thinking to sue the company for fraud and negligent.

      Reply
  14. Hi Eric,

    I have a five year old for whom I wish to begin saving for college. I am considering a 529 plan vs an indexed universal life policy from National Life. The 529 is pretty straight forward but the IUL is intriguing because as presented by the agent, the policy provides growing cash value for my son beyond his college years even there are no planed premiums beyond age 17. It seems a no-brainer to go with the IUL, but it seems almost to-good-to-true. That is why I’m asking you.

    Please tell me your thoughts on the question of 529 vs IUL for college savings and beyond. Lastly, the agent said that when we apply for financial aid we must disclose 529 savings but not so with the IUL. Is that true? Thank you.

    Best,

    Marc

    Reply
    • Hi Marc,

      Without knowing your complete personal situation, I can only give you general advice.

      Personally, I have 529s for my kids. That was decided on after doing extensive research myself into all the options. If I were you, I would sit down with a FEE-BASED financial planner and have them go through the good and bad of each program. Getting information from the person set to gain from the transaction is questionable, in my opinion.

      I would be very wary of this, to be honest.

      Best,
      Eric Stauffer

      Reply
    • Hi Marc,

      From what I know, 529 you have to disclose when applying for financial aid, but IUL you don’t have to. That’s one of the advantages of having an IUL as a younger age. The younger the better premium and more time for the cash value to grow. I bought my son an IUL when he is 5 months old for 300K coverage and when he gets to 20 yrs old if he needs to withdraw, he can take out around $78K loan, tax-free for his school if he needs it. If he decides to leave it there until he retired at age 65, he should have around 1.3 million. I think that is a better investment that I can do for him. Especially the younger of age, the better the premium and the more time it takes to grow bigger money.

      Reply
  15. Hi Eric,
    I need your help

    I was born in 1954. I am the youngest of 5 other siblings. I know that my parents insured our family with National Life approximately in 1950. Both parents are deceased as of 1991.

    My oldest sister has the insurance policies of living siblings. Was is possible for her to change beneficiaries after my mom died?

    Leona

    Reply
    • Hi Leona,

      That sounds like a question for an attorney in your state.

      In general, the owner of the policy can do as they please in terms of beneficiaries. That being said, I have far too little information about your situation to get a good grasp of what is going on.

      My recommendation is get a local expert who can review your situation.

      Best,
      Eric Stauffer

      Reply
  16. Hi Eric,

    I am shopping for life insurance right now. A friend of my introduced me into Indexed Universal Life Insurance. Do you have any thoughts and recommendations about this type of insurance/policy?

    Reply
    • Hi Tina,

      I am not a proponent of permanent life insurance products in general, but every situation is unique. I prefer term life insurance with side investments, because they generally pan out better.

      You can read why I think that here – https://www.expertinsurancereviews.com/insurance-education/term-life-better-whole-life/

      Please keep in mind, this is very general advice. I do not know your personal situation, so speaking with a FEE-ONLY financial planner may be beneficial before signing up for an expensive life insurance product.

      Best,
      Eric Stauffer

      Reply
  17. Hi Eric,

    I’m already investing into 529 for my kids. An agent from National Life Group showed me a proposal for investment that appears to be a universal life which will include a life insurance that also have an accelerated death benefit and can be a retirement income when they reach age 67. This were all also presented in table that included a monthly premium of $300 and $500/month, respectively for my two kids, an accumulated value that increases over time, surrender value and net death benefit. Also included is an annual income that they will start receiving by age 66.

    My questions:
    1. Is the surrender value the amount of money you loose if you stop the plan? I forgot to ask the agent about this, but I was hoping you would know.
    2. What happens if for some reason I won’t be able or stop paying the premium which is required until they reach eligible retirement, do you loose all the money?
    3. If you have that money to invest for kids other than 529, do you think it’s best to ask a fee for service investment/financial advisor

    Thanks!

    Reply
    • Hi Florence,

      The answers to your first two questions are going to be dependent on the policy rules. Its probably best to have a third party look at those documents to get a clear picture of what it looks like.

      As far as question 3, a fee-based financial planner (not paid on commission or from management fees) is often a good choice if you are unfamiliar about specific investment options.

      One side note – Have the fee-based planner look at this potential universal life policy before you buy it. They are notoriously bad for many individuals, but agents make a lot of money from selling them. They can fit in some people’s financial plan, but sometimes they are pushed by agents due to their incentive structure.

      Best,
      Eric Stauffer

      Reply
  18. Greetings Eric!

    I bought into a “Premier+1” 403b back in 2000 which had money going into it from my employer as a benefit (each teacher was given so much to spend for benefits and since I’m single, the excess went into the 403b). Since then I have
    switched to a different district and haven’t put any more money into it for several years (it still earns some interest, though). My big question (as embarrassing as it seems) – what is an annuity? I only invested because my excess benefit money would have gone away.

    Thanks!

    Reply
    • Hi Michee,

      An annuity is typically used as a retirement tool that provides either fixed payments or variable payments according to a predetermined schedule.

      Annuities come in all shapes and sizes, so keep that in mind. You can see a good overview here.

      Best,

      Eric Stauffer

      Reply
  19. Hi Eric,
    I bought a policy with National Life Group 2 years ago. The agent came into my classroom. I am a teacher.
    I thought I was putting all of my money away for retirement. I put in $400 a month. He told me it came with life insurance but did not tell me there would be premiums and how much they were.
    When I called to reduce my monthly contribution I found out I have been paying $175 a month for life insurance! I cannot withdrawal my money because the surrender fee (which I was also not told about) is more than I have saved.
    I spoke to my agent and when I asked him how much the life insurance costs, he said he didn’t know! In my opinion, this shows how dishonest and deceiving agents can be.
    I am at a loss of what to do now. How can I recover as much of my money as possible?

    Thank you for your help,
    Lara Shaffer (age 35)

    Reply
    • Hi Lara,

      It sounds as if you may have ended up with some form of whole or variable life insurance policy. It is my opinion that these are awful forms of retirement savings, and most financial professionals that do not sell them agree.

      You can read my opinion of whole vs term life insurance here.

      I have limited information on your situation, but you may want to consider cashing it in if there is any cash value. If not, it may make sense to scrap the plan all together. I know its tough to eat those $400 monthly payments, but it may have just been a costly lesson.

      If you are in good health, you could get a term policy for a fraction of that (probably $20-30 a month for $300,000 of coverage at your age) and invest the other $370 into an IRA, investment account or your 403b. Most examples show this would garner far more money for your retirement, while still having adequate life insurance.

      Best,
      Eric Stauffer

      Reply
    • Don’t buy whole life but you buy Universal life which is flexible of your premium and it has living benefits as well and it last longer than term,

      Reply
    • Hello Lara,
      I am in the exact same situation as you. I have an amount in accumulated value, $0 in cash surrender value, and surrender penalty is almost $10K. I need guidance.

      Reply
  20. Hi Eric,
    I’m new to the “annuity and universal life insurance ” world. I have spoken with a agent with National life group who recommended for me to do a universal life insurance because of my age which is 24 years old. Would you recommend someone my age to do universal?
    Thanks in advance,
    Lakia

    Reply
    • Hi Lakia,

      I do not know your personal situation, so I cannot give customized advice here. However, I can point you to a different write-up I did that gives a good outline of my view on permanent life insurance policies.

      The article talks about whole life insurance, but universal is a similar beast. I hope this helps!

      https://www.expertinsurancereviews.com/insurance-education/term-life-better-whole-life/

      Best,
      Eric Stauffer

      Reply
  21. Hi Eric,

    I m 35 and i was planning on getting national life insurance worth $1mm for myself and my daughter (3 yrs old). Annual contribution is $6,374 for my daughter and $8,110 for myself . it includes educational benefit 4 withdrawals of 50K and then coverage of critical diseases

    please advice, i m single mom and i want to do best for my daughter.

    Thanks

    Reply
    • Hi ag,

      Without knowing your entire financial situation, its tough to give personalized advice. Therefore, take this with a grain of salt.

      First, what is your reasoning for purchasing a million dollar insurance policy that covers your daughter? Unless she is a child actor or something else that provides substantial assets to the family, its tough to make sense of that.

      If it is for the educational benefit, I would say its probably an expensive way to save for college. A few thousand a year in a 529 that is properly allocated could do wonders in that department.

      Second, I am not a huge fan of permanent life insurance solutions. You can read about it here:

      https://www.expertinsurancereviews.com/insurance-education/term-life-better-whole-life/

      Given the dollar amounts you are talking about (nearly $15,000 a year) I would highly advise speaking with a FEE-BASED financial planner in your area. They can look at your entire portfolio and make a good recommendation. My gut says you may be getting bamboozled by an overzealous sales agent trying to make a big commission.

      Best,
      Eric Stauffer

      Reply
  22. Hey Eric,

    One of the important aspects that’s missing from types of policies is Indexed Universal life. There’s a death benefit, but also a retirement income, a chronic illness, and cash value account (which is why Sharma’s monthly premium seemed like expensive). You get a lot for what you pay for. You’re protected against living to long, dying too soon, or becoming I’ll.

    Reply
    • Hi Jesse,

      Thanks for mentioning it. We will take a look at their indexed universal life insurance on the next review update.

      Best,
      Eric Stauffer

      Reply
  23. Hi Eric,

    I’m 35 height 5’5 weight 155 and I’m inquiry National Life Group for a whole Life $1,000,000.00 with guarantee not to loose money (not sure if it’s true), the agent quote Imy payments is $500/m until I’m 60 yrs old, then I could withdraw $70,000.00 a month. I would like to know if it’s a good policy or should l pick some other policy?

    Reply
    • Hi Tyson,

      Unfortunately, I cannot give you personalized advice about whether this is a good policy or not. I would recommend finding a “fee-based” financial planner in your area. Make sure they are someone who does not have financial incentive to sell you a policy.

      Best,
      Eric Stauffer

      Reply
  24. Hi Eric, I purchase term life insurance for myself. from National Life Group.now I am 27 in good health (no issues) weigh 136.since 6 months ago. i had been pay &153 monthly for $250,000 20 year term. Do you like this company? Is this a reasonable amount for me according to my age.? Would you recommend another company? Thank you for your time. John

    Reply
    • Hi John,

      Without looking at your policy directly, its hard to know for sure. However, $150 a month for $250,000 20 year term sounds incredibly expensive. If you are in good health, I would expect that to be closer to $20 or $30 a month.

      That being said, your policy could include things that a standard policy does not include. But at first glance it sounds expensive.

      Best,
      Eric Stauffer

      Reply
  25. Hi Eric, I’m looking to purchase term life insurance for myself. I was looking at National Life Group. I am 53 in good health (no issues) weigh 220 they quoted me $320.00 per year for a $75,000 10 year term. Do you like this company? Is this a reasonable quote? Would you recommend another company? Thank you for your time. John

    Reply
    • Hi John,

      Thank you for taking the time to post your question here.

      I did a quick comparison of insurance prices using the information you provided. The results ranged from $245 to $800, so I would say the $320 you were quoted by National Life Group is reasonable.

      I personally think they are a good company, and I really like the lack of complaints I was able to find on the usual outlets I check.

      If you are happy with that price, it could be a good fit. I do not see any glaring issues with them as a company.

      Best,
      Eric Stauffer

      Reply

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