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Ohio National Life Insurance Company Review

Researcher & Writer
June 28, 2018

Ohio National is one of the top life insurance companies in the U.S. The focus of this Ohio National review will be on the company's many product offerings, the company's ratings, and recommendations and advice for those considering Ohio National as their life insurance company. Is Ohio National the right company for you?

Before jumping in, consider taking a moment to watch the video below on the importance of having options when looking for Ohio National life insurance quotes compared to the competition.

About Ohio National

Under the Ohio National Financial Services umbrella, there are a number of different services that have been helping the public for many years.

First founded in 1909, Ohio National was originally a stock company before converting to mutual insurance company status around 50 years later. Just before the turn of the millennium, the entire company reorganized and became a mutual insurance holding company.

With this in mind, the company has been serving its policyholders for decades and they remain, to this day, one of the most well-known and highly rated life insurance companies.

Pros of Ohio National

With a slogan ‘life changes, we’ll be there’, Ohio National has promised its commitment to their customers and this has certainly been seen over the years. With a number of products and services offered, they are constantly expanding to provide maximum policyholder value.

Ohio National Life Insurance Ratings

Ohio National boasts some fantastic ratings. The company is certainly financially sound as is evident by the following ratings.

  • A.M. Best rating: A+ (2nd highest of 16)
  • S&P rating: A+ (5th highest of 21)
  • Moody's rating: A1 (5th of 21)
  • Fitch rating: n/a
  • Comdex ranking: 89 (out of 100)

Customer Service

With any insurance firm, they become instantly redundant when you cannot contact them with any problems you may have. Luckily, Ohio National has a strong reputation for customer service and they are easily found online. For customers or anyone looking to contact them for the first time, all the necessary information can be found online including phone numbers, post office boxes, and email addresses for each service that they offer.

As technology continues to improve, it is important now that companies make themselves available and Ohio National has done exactly this by including all the aforementioned contact details for life and disability insurance, annuity, and retirement plan services. In addition to this, they also have contact information for the claims department of annuity as well as life and disability insurance. With this in mind, customers can live life safe in the knowledge that the business is going to be there for them whenever required.

Reviews from BBB

For many years, the Better Business Bureau (BBB) has been assessing businesses and how they pay attention to consumer complaints in addition to how well they perform in different customer-based scenarios. Since way back in 1938, the BBB has been accrediting Ohio National and they currently have a rating of ‘A+’ on a scale that goes right down to a possible ‘F’ rating.

With this in mind, the BBB believes that Ohio National meets all the standards laid out and this includes good effort to resolve any problems that may arise over time. With just a handful of complaints over the years, Ohio National has resolved most of them in good faith and managed to keep a large percentage of this custom as a result. Regardless of what other companies are doing in this ever-changing market, Ohio National seem to be focusing on their own business and it has paid off for them so far.

Products Offered by Ohio National Life Insurance Company

As a main service, Ohio National is perhaps best known for their life insurance policies. Not only are they known for value, but they also place a huge emphasis on the amount of different insurance products available which enables them to tailor their service to each individual.

Furthermore, they also offer a variety of annuity options including variable, fixed, and even fixed indexed. With these services, you can protect your assets and provide an income stream in retirement with a financially sound company.

Aside from individuals, they will also cater for group plans which is great news for businesses because it means that they can set up a huge group plan for your employees.

Finally, they will also help with disability insurance, business solutions, and securities. Because they offer so many products, one of the biggest benefits of choosing Ohio National is that you can have all of your policies under one roof.

Ohio National Life Insurance

Ohio National has a strong product line and offers four different life insurance products:
  • Term Life
  • Whole Life
  • Universal Life
  • Variable Universal Life

Term Life Insurance

Whole Life Insurance

Ohio National participating cash value whole life insurance provides several guarantees.

And although not guaranteed, the policy offers annual dividends to participating policyowners. Life insurance dividends can be used to pay you cash, leave with the company to earn interest, pay premiums for a period of time, or to purchase paid up additions.

Another benefit of cash value life insurance is the death benefit is not taxable to your beneficiary. Although, if you have a large enough estate, you may have to do some careful asset planning to avoid getting hit with the estate tax or your state's inheritance tax.

Also, life insurance loans can be taken tax free and used for whatever you choose. And Ohio National practices non-direct recognition so your money in your policy is still earning interest and dividends, even though it is being used as collateral to secure your loan.

Different Whole Life Policies offered:
  • Prestige Value III
    • Basic whole life insurance with cash value growth
  • Prestige 10 Pay
    • limited pay life insurance where after 10 years of premium payments the policy is paid up and you do not have to make further premium payments
  • Prestige 100
    • Premiums are paid to age 100
  • Prestige Max
    • a limited pay option where premiums are due until age 65

Universal Life Insurance

Universal life insurance is permanent coverage with flexible premiums based on your cash value. You can also raise or lower your death benefit if the need arises due to life's changes. The policies are issued by Ohio National Life Assurance Corporation, a subsidy of Ohio National Financial Services.

Different universal life insurance policies offered:
  • V-Pro UL
  • Virtus Basic

The universal life policies offered by Ohio National provide a guaranteed 2.5% interest rate on your cash value, although the actual historic interest rate offered has been higher.

The Virtus Basic is life insurance for children. There are many benefits of using coverage to provide for your kid's financial future, including helping them pay for school, buy a home, or avoid getting into credit card debt.

Variable Universal Life Insurance

Permanent life insurance coverage with flexible premiums. Policies offered are:

  • Virtus VUL

The Virtus Vul is a flexible premium variable universal life policy. Variable life allows your premiums to be allocated to registered investment companies. These variable sub-accounts are similar to mutual funds, although they are considered a different investment type. Ohio National provides 18 different investment options to choose from, including the company's general account that acts as a home base and provides a guaranteed 3% interest rate.

With variable life insurance you are taking the risk that your cash value will grow based on the performance of the investments your premiums are allocated to. However, there is also the risk of negative returns, which can also affect your principal. As a result, variable universal life is only recommended to someone who can properly manage the inherent risk of investing in the market.

Disability Income Insurance

Ohio National is included in our top 10 disability insurance companies list. Disability insurance is a under appreciated insurance product that offers huge benefits if you are disabled.

Ohio National offers a disability buy sell policy, a non-cancellable policy, a business overhead expense policy and a guaranteed renewable policy. Let's take a look at the Company's non-cancellable policy.

ContinuON Income Solutions non-cancellable policy snapshot:
  • Long term disability insurance
  • Issue ages 18-70
  • Available for Occupational Classes 6-2
  • Non-Cancelable and Guaranteed Renewable
  • Elimination periods of 60, 90, 180 and 365 days.
  • Maximum income benefits of up to $30,000 with other individual disability insurance.
  • Benefit periods of 2, 5 and 10 years and to age 65, to age 67 and to age 70 available.
  • Own Occupation total disability definition rider
  • Cost of Living riders: 2% minimum and 6% maximum compounded or 3% simple interest annual adjustments
  • Guarantee of Physical Insurability rider
  • Catastrophic Disability Benefit rider
  • Social Insurance Supplement rider
  • Removal of Mental Disorder/Substance Abuse Limitation Rider: removes the on disabilities from mental disorders or substance abuse issues, extending benefits for the entire duration of the benefit period.

If you are interested in disability insurance quotes for Ohio National or any of the other top rated DI companies we represent, please give us call today and speak to an experienced disability insurance agent.

Our Advice

When making a decision regarding insurance, it can be difficult because you need to find a company that you can trust with your money and your policies. However, there is no concern as far as Ohio National are concerned because they have been doing it for so long. With years of experience behind them, they know exactly what they should do and exactly what you need to avoid.

As we saw a little earlier, they have some of the best ratings you will find in the industry and this is something that has to be worked on over time. Nowadays, it can be tough to get these ratings and even some fantastic companies struggle to reach the very top which just shows you how relevant Ohio National is; it’s fair to say that they are in a group of elite insurers.

Potential Drawbacks

Despite their many positives, there are a couple of small drawbacks that people have found over the years and the biggest seems to be the underwriting guidelines and the fact that they can be so strict. If you ask for a quote, it will be one of the lowest you will find but many have noted how they struggled to actually receive the policy because they didn't qualify due to the strict underwriting guidelines.

With this in mind, any potential customer would have to discuss this with their agent in order to find a solution. On the other hand, you could argue that this is why they have been so successful financially. Surely it is better to consider every case carefully rather than accepting everyone who applies?

Furthermore, they also don’t allow sales that come in from internet leads and other sources which can be frustrating for someone looking for a quick and affordable policy. Again, Ohio National have done this for good reason though as many internet leads end up being nothing more than ‘leads’. Over time, they started to notice that only a small percentage of leads turned into sales so you can’t necessarily blame them for choosing to work this way.


So there we have it, all potential customers should definitely consider the pros and the cons before contacting Ohio National. All in all, it seems as though the positives far outweigh the negatives but each person is unique so be sure to spend some time with your agent gathering advice. If you do choose to go for Ohio National, you will be joining many others and will really get to see why they are so popular!


If Ohio National is among your list of candidates, why not give the professionals at TermLife2Go a call? We work with many of the top rated companies in the U.S. It always pays to have choices. Our job is to align our clients with the company and product that best suits each client’s unique need, health and lifestyle.

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

Thank you for reading our Ohio National Life Insurance Review. Please leave any questions or comments below.

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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.