UPDATED: Mar 18, 2020
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Part of CNO Financial Group, Washington National has been writing insurance for more than 100 years. They write life insurance and supplemental health insurance plans for individuals and groups.
About Washington National
Washington National Insurance was founded in 1911 in Illinois and was initially focused on provide health and accident insurance for teachers, later expanding to offer coverage to the general public, including life insurance. In 1997 the company was acquired by CNO Financial Group, and in 2009 the parent company merged another insurance company, Conseco, into Washington National to create one large life and supplemental health insurer.
They are largely a group benefits provider, writing voluntary employee benefits products, but also sell directly to individuals.
Today the company serves nearly 1 million policyholders and 25,000 employer groups. Policies are sold through local independent agents across the country. Washington Nationals headquarters is located in Carmel, Indiana.
Washington National Products
Information on the products offered by Washington National is limited to a basic overview on the website.
Washington National writes term life insurance, indexed universal life insurance, and whole life insurance policies. They provide only general descriptions and explanations of each of these policies with no details including issues age or death benefit amounts.
They do offer several rider options, which include a terminal illness rider, critical illness rider, and return of premium option.
There are three types of supplemental health coverage available from Washington National. Again, information on these products is limited to generalizations, without much in the way of details.
Cancer and Critical Illness coverage provide a lump-sum benefit upon diagnosis with most cancers or any of the included illnesses or accidents. There are 17 critical health conditions, 14 accidental injuries, and 7 other listed categories of qualifying conditions.
Hospitalization and ICU coverage provides benefits to pay for out of pocket expenses associated with a stay in the hospital including the ICU. This includes coverage for coinsurance and deductibles.
Accident and Disability insurance is available only as a group workplace benefit. This plan provides income protection and other benefits to assist with financial hardships during a covered accident recovery or disability.
All of the products available to individuals are also available as workplace benefits. They are sold as group policies, which generally makes them more affordable – hence the reason they are referred to as benefits.
All of the workplace benefits products are portable, so coverage can continue even if the insured changes jobs.
Online quoting is not offered by this company, which is pretty common for an insurer that works mainly through agents, and especially for a company that has a lot of focus on workplace benefits.
Rate quotes can be obtained by contacting a local agent. There is a “Contact Me” button found on the policy description pages that can be used to have a representative reach out for more information and rate quotes. This is likely to result in ongoing solicitation efforts that some people may find bothersome.
Claim forms can be downloaded from the website, and these come with instructions for how to file and what documentation is required for each type of claim.
The contact page of the website also offers fax numbers and mailing addresses for the various types of claims. There is no specific phone number for claims, but a toll-free customer service line is available, which is open during business hours. Those are listed as Monday through Friday 8:00 a.m. to 6:00 p.m. Most life and health insurance companies do not offer a 24/7 claims line, so this is standard practice.
Ratings and Consumer Reviews
Washington National Insurance Company has an A+ rating with the Better Business Bureau (BBB) and has been accredited since 2013. There are 46 complaints on file in the past three years. The 20 reviews and star ratings on the page add up to a one-star rating overall. Many of the complaints are related to billing and customer service. For a company of this size, this is not a high volume of complaints.
We were unable to find much else in the way of complaints in the usual locations, which may be in part due to the fact that people often handle workplace benefits complaints and problems through their company’s HR department. Still, a lack of reviews generally reflects well on an insurance company.
The Bottom Line
There really is not enough detailed information on this company’s products or rates for us to form a solid opinion about what they offer. They do appear to have a solid reputation and have been around a long time. For those that do not mind the potential for solicitation, it might be worth contacting an agent for more information on this company.
For a list of companies that we recommend, visit our Best Insurance Companies page.