Welcome to InsureChance, the first online life insurance marketplace. We are an independent life insurance agency and have a mission of making life insurance a simple concept. We can do this by providing unbiased and informative reviews and if you’re looking for a great review of National Guardian Life Insurance Company then you have come to the right place! We don’t like our articles to be biased because we feel it doesn’t help our clients find the best life insurance company and by providing all the information possible in our articles we feel that it has helped our clients find their best life insurance company because what’s the best company for one person may not be the best for the other person. It all comes down to specific needs, health, and lifestyle. In this article, will cover everything you need to know from company history, rating and their products. Here is a short version just in case you don’t have time to read the whole article:
- National Guardian Life Company was founded in 1909 and was called The Wisconsin State Life Insurance Company then in Madison, WI.
- National Guardian Life like any other successful company like to give back. On their website, they state that their focus is about people – from their policyholders and marketing partners to their employees and the communities in which they live and work.
- NGL’s consolidated assets continue to grow and now exceed $2.5 billion which is an increase of 126% over the last 10 years.
- On their website, they advertise their final expense insurance, group term life insurance, and long-term-care insurance.
- According to A.M Best Company, they have rated them an “A-” or excellent. Standard & Poor’s also rated them an “A” or strong.
*This is a solid life insurer but we got to tell you that you may be able to secure a better plan with more competitive pricing with some A+ rated companies.
National Guardian Life Insurance Company 2017 Review
For over 100 years National Guardian Life Insurance Company has provided excellent customer service. They believe that excellent customer service is key to success and if something is important to one of their policy owners, marketing partners or agents, it’s important to them. NGL’s consolidated assets continue to grow and now exceed $2.5 billion which is an increase of 126% over the last 10 years. On their website, they advertise their final expense insurance, group term life insurance, and long-term-care insurance. According to A.M Best Company, they have rated them an “A-“ or excellent. Standard & Poor’s also rated them an “A” or strong.
Why you should always read a company’s rating.
Ratings are important for consumers to know because it gives them a good idea of their financial stability. It’s good for you, the consumer, to know whether a company is financially stable or not because you want to make sure the company will be around long enough for your policy to pay out. Ratings are not made up for jokes and giggles, there is a process these rating agencies go through to develop their rating. The company has to first seek out the help of the rating agency they choose to work with and sign a contract with them in order to allow them to go through the company’s financials and plans. Once the rating agency thoroughly investigates the company’s financials and plans then they present the recommended rating to their board and vote on whether or not the rating is a fair rating for the company to receive. After the vote then the rating is posted on the agency’s website and sent to the company.
If a company has a good rating it means that they are financially stable and if anything happens to their environment they would be perfectly fine. However, if a company has a bad rating it not only shows their instability with their financials but it also means they are vulnerable in their environment so if anything were to happen in their environment they wouldn’t know how to react. Plus they may not even be around in another 5 years or so and you don’t want to invest into a company that would just pick up and leave because not only will your policy be gone with the wind but so will all the premiums you have paid until that day. Moral of all this, just take a couple minutes of your day and check out a company’s rating.
National Guardian Life Insurance Products
Like we mentioned earlier, National Guardian Life offers final expense policies, group term life insurance, and long-term-care insurance.
Final Expense Insurance
- Final expense coverage is a lot like guaranteed issue life insurance.
- For smaller face amounts and you only need to answer a few questions to be qualified.
- Coverage can be done quickly since there is no need for a medical exam
- Ideal for a person who has only a few needs but wants them lined up quickly.
- Final expense covers burial costs and final hospital bills.
- Since it is only for the last expenses before your death you will not grow any cash value.
- Most final expense policies offer set premiums so they are affordable and will not change for your entire life.
Group Term Life Insurance
- Term life is a life insurance plan designed to provide affordable coverage that is easy to understand.
- “Term” refers to the period of time in which you want to be covered for.
- A group plan is offered by those who are employed.
- Group Term life insurance is based on your job so if you leave your job you may lose your coverage or have higher premiums to pay.
- These plans are available with a variety of payment schedules and coverages for the employees and their family.
Long Term Care Insurance
- Long-term care insurance is a lifetime benefit period rider.
- There are two options to choose from when it comes to paying your premiums, Single Pay, and 10 Pay Premium Options.
- Joint Policy Design options.
- Offers very competitive pricing.
- There is a return of premium with cash surrender option.
- Ideal for executive carves out sales.
- Accommodates 1035 Exchanges.
- Shared Care Using the Third Pool.
- Employer group and Association Group Discounts Available.
- LTC premiums are tax deductible.
- LTC benefits are received tax-free.
Pros of National Guardian Life Insurance Company
National Guardian Life is a commendable company who have a couple of pros such as having very high ratings and being very committed to their community service. National Guardian Life has been around for over 100 years and dedicates themselves to their customer service. Another pro is that they offer many services and products such as dental, vision, gap insurance, marketing support, critical illness, group term life insurance and long-term-care insurance.
Cons of National Guardian Life Insurance Company
National Guardian Life may be a commendable company who have a few pros but they are just one of many other companies. Another con is that they don’t offer many life insurance products. They don’t offer a traditional term life insurance product or a whole life insurance product. They also don’t offer traditional universal life insurance policies or variable and index universal life insurance products.
Work with us!
If you think that National Guardian Life is right for you then that’s fantastic, however, we always recommend that you compare quotes before deciding on the best company to buy from. Once you’re done reading we have a quote engine right under the article that you can fill out, then you will see for yourself all the different quotes (from A rated companies) you will be offered. Not only will you see the quotes you will be offered but you can compare for yourself what available in the marketplace as well, this way you can assure yourself that you are getting the best possible rate. So let us do all the leg work for you, call us at 888.492.1967!
