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National Life Group Review [Top Products and Features]

Researcher & Writer
April 23, 2018

Of the many companies that offer life insurance and financial services, one of the oldest in the US is the National Life Group (NLG). First founded in Vermont, the National Life Group life insurance company has managed to expand its services across the United States. It is one of the top rated life insurance companies in its industry and provides a number of services to meet their customers’ life insurance policy needs.

About National Life Group

Headquarters: Montpelier, Vermont

Phone: (800) 732-8939

In 1848, the National Life Insurance Company as it was known at the time was first chartered by the legislature of Vermont. However, it was over a year before the company sold its first life insurance policies and started to pay on the claims to its policy holders. The company grew and went through both good times and bad as it paid out claims to families whose loved ones died in the First World War and the deadly Spanish Influenza epidemic of 1918.

After that point, the company changed its name to the National Life Group and began to offer services beyond life insurance coverage. by 1968, the National Life Group created Equity Service, Inc. a broker-dealer affiliate. Over time, the National Life Group began acquiring more companies and by 1996 managed to obtain the Life Insurance Company of the Southwest.

Today, the National Life Group is larger than ever as it continues to provide life insurance products and financial services to its customers in the US.  NLG is a fortune 1000 company, and has over 840,000 customers. National Life Group is a mutual company, which means the company's focus is on enriching policyholders, not shareholders.

NLG is made up of National Life Insurance Company, Life Insurance Company of the Southwest, Sentinel Investments, Equity Services, Inc. and National Retirement Plan Advisors.

National Life Group is a mutual company, which means the company's focus is on enriching policyholders, not shareholders.

Pros of National Life Group

There are a number of benefits that the National Life Group offers its customers, starting with the overall longevity and of the business. While longevity itself is usually not a recommendation, for companies that sell life insurance it provides peace of mind since it demonstrates that they have been around for a considerable period of time.

However, there are other advantages offered by the company that help accentuate the longevity, financial strength and overall reputation that they have built over the years.

A.M. Best Rating: Currently, the A.M. Best rating for the National Life Group and its subsidiary, the Life Insurance Company of the Southwest is an “A”. Based on the grade school system, the A rating is the third highest in the 16 categories that A.M. Best uses to rate a particular company. The rating itself makes the National Life Group one of the best in the nation in terms of the services that it delivers.

The A rating was based on four factors that the National Life Group demonstrated to A.M. Best;

  • Conservative Risk Profile
  • Diverse Distribution Channels
  • Excellent Expense Management
  • Profitable Operations

The factors translated to the A rating because it demonstrated that the company practices safe management practices, takes fewer risks, has good diversification of its services, and overall runs a tight, profitable company that can hold up in troubled times. All of this is good news for consumers looking to for a life insurance policy and financial services from a company that demonstrates profitability and good management over time.

Customer Service: As with most life insurance and financial companies, the National Life Group offers their customer service in two basic forms. Insurance agents who operate throughout the US providing personal service to their customers and through the website itself in case someone has a question, files a claim, or otherwise needs assistance that is outside the domain of the insurance agent. In the end, the company offers outstanding customer service that provides you with answers quickly in a variety of ways.

Reviews from BBB: The Better Business Bureau (BBB) is an independent company that rates all types of companies in the US.  The current rating as provided by the BBB for the National Life Group is an “A+” which is the highest rating that it offers. However, it should be noted that the National Life Company is not accredited by the BBB.

It should be noted that accreditation in the BBB is not a requirement for being rated. The record does show a relatively small number of complaints about the company have been received and almost all have been dealt with by the company in a timely fashion. That type of service has helped the National Life Company earn its “A+” rating.

Product Offering: The products offered by the National Life Group are divided into three separate categories;

  • Individuals & Families
  • Businesses & Commercial Enterprises
  • Public Service & Schools

For individuals and families, the National Life Group offers five separate services designed to help and protect people on their way to retirement and financial independence. They include the following;

  • Annuities
  • IRA
  • Life Insurance
  • Living Benefits
  • Mutual Funds

Each of these services are designed to help individuals and families with retirement, investment, and life insurance benefits that will serve them over their lifetimes. It is this diversification that has helped the National Life Group sustain its presence and bolster the confidence that people have in their company.

In addition to serving individuals and families, the company also helps businesses with qualified and non-qualified plans that help with their continuation or transition from one area to another. Plus, schools and those in public service are provided with retirement plans, IRAs, annuities, and life insurance policies that offer sound benefits to their employees.

National Life Group's Life Insurance Offerings

NLG offers both term life and whole life insurance. The company's products include:

Term Life Insurance:

Term life insurance policies feature:

Whole Life Insurance:

Whole life insurance offers 3 primary guarantees:

Although not guaranteed, dividends may also be included. Dividends provide additional benefits to participating policyholders. They can be used to:

For more on whole life, see our list of top whole life insurance companies.

Universal Life Insurance:

UL policies offer flexible premiums with potential cash value accumulation.The death benefit can be raised or lowered, providing more coverage or less depending on what your future needs are.

You can read more on our favorite Universal Life Insurance Companies here.

Indexed Universal Life:

IUL policies accumulate cash value based on interest crediting tied to the S&P 500 or other such indexes. Like UL policies, IUL's offer flexible premiums and flexible death benefits.

Indexed universal life is a good choice for someone that is willing to forego some of the guarantees of whole life in order to try and get higher returns. The good thing is they are additional benefits of indexed universal life that help protect your principal.

IULs offer a floor in both the fixed account and indexed accounts. The floor represent a guaranteed minimum you can rely on to keep your account from going in the wrong direction. Typically, the guaranteed floor for the fixed account is 2% and for the indexed accounts, the guaranteed floor is usually 0%.

For more on this exciting product check out our pros and cons of Indexed Universal Life Insurance article.

Variable Life Insurance:

Same flexible premiums and death benefit as other universal life products with addition of sub-accounts which may grow based on specific performance of stock, bond, or money market accounts. Variable life sub-accounts are direct investments and subsequently offer unlimited potential for both gains and losses. Buyer beware.


For those who are considering life insurance or financial assistance when it comes to their retirement, the National Life Group offers competitive rates and sound policies. The overall focus may have shifted somewhat from life insurance, but the end result is that this company provides high quality services using a somewhat standard, but proven form of service.

This is because the company itself was initially formed in 1848 and has grown, changed, and evolved over time to embrace the new techniques and opportunities that were mostly started by other companies, but adapted into their own. While it means that the National Life Group is rather staid and conservative in some ways, it also means that they are financially sound and secure which makes them a solid choice when it comes to finding investment opportunities and good life insurance policies.

Potential Drawbacks

The complaints against the company have been few and far between. However, that is not a sign that the company is free from any controversy. It simply means that even the National Life Group is not immune to poor business and sales practices, bad advice, or even policies that may have a detrimental effect on the customer.

About the only real drawback that can be cited apart is that NLG is but one company of many. As with any product, having choices allows you to shop around for the best deal available. In the world of life insurance, the best deal is the product that will address your specific needs, health and lifestyle. There is no one size fits all company.


You should look over the insurance and financial policies of the National Life Group before making any financial decision. While they offer a good set of products, that does not mean they fit your particular situation. So, take the time to look over what they offer and consider alternatives that might work better for your needs.

All things considered, the National Life Group offers roughly average rates for most of its policies with some being better than others. With that in mind, it pays to shop around on the company website and discussing with the local agent or representative which life insurance policy is best for you and your family. Keep in mind that your age will play a large role in the type of life insurance and financial goals that you will need to accomplish.

Overall, the National Life Group offers a variety of solid life insurance products and financial plans designed to help people reach their retirement goals while providing them with ample protection. The company has earned its ratings from A.M. Best and the BBB thanks to its high quality services and dedication to their customers.

The company itself operates on a proven business model that has been developed since its beginnings in 1848. This means that they are here to stay offering a number of excellent services that helps individuals, families, businesses, schools, and other public service organizations with assistance in their financial and life insurance needs.

For those who are looking for a variety of life insurance policies as well as solid financial services through IRAs, annuities, mutual funds, and more, the National Life Group offers an excellent platform.


If you are truly seeking out the carrier that will best meet your specific needs, give TermLife2Go a call. We will ask the right questions and use our vast expertise to help align you with the company that best fits your specific need.

So, what are you waiting for?  Give us a call today or visit our Life Insurance Quotes page and see what we can do for you!

Thank you for reading our National Life Group review. Please leave any questions or comments below.

Written by
We are a team of life insurance experts with the simple mission of helping you find the best coverage for your unique situation. We research, review, and rank life insurance companies to make that process easier.