National Western Life Insurance Company Review (2024)
National Western Life Insurance Company has stood as a reliable pillar in the realms of life insurance and annuities, offering enduring financial security for over six decades.
Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Apr 23, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
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National Western Life Insurance Company
Average Monthly Rate For Good Drivers
N/AA.M. Best Rating:
A (Excellent)Complaint Level:
LowPros
- Comprehensive range of insurance and investment products.
- Strong financial stability and reputation.
- Flexible coverage options for policyholders.
- Positive customer reviews and excellent customer service.
Cons
- Limited information available on auto insurance products, as the company specializes in other financial services.
- May not be the ideal choice for those specifically seeking auto insurance coverage.
In our comprehensive guide, we explore National Western Life Insurance Company, a trusted provider of life insurance, annuities, and investment solutions.
Founded in 1956 and headquartered in Austin, Texas, National Western offers a diverse array of coverage options, including whole life, term life, indexed universal life, and more.
While detailing the company’s robust financial stability and positive customer reviews, we highlight the benefits of their policies, such as financial security, retirement planning, and tax advantages.
Although primarily focused on life insurance, National Western stands as a reliable choice for individuals seeking comprehensive insurance and investment solutions, ensuring peace of mind and a secure financial future.
National Western Life Insurance Company Insurance Coverage Options
National Western Life Insurance Company offers a range of coverage options to meet various financial and insurance needs. While their primary focus is on life insurance and annuities, they also provide other investment solutions. Here’s a bullet list of the coverage options they offer:
- Life Insurance: National Western offers a variety of life insurance policies, including whole life, term life, indexed universal life, and universal life insurance. These policies provide financial security and peace of mind for policyholders and their beneficiaries.
- Annuities: The company provides annuity products, which are designed to help individuals plan for retirement and receive a steady stream of income. These annuities can be tailored to meet specific retirement goals.
- Universal Life Insurance: National Western offers universal life insurance policies that allow policyholders to build cash value over time. These policies offer flexibility in premium payments and coverage amounts.
- Indexed Universal Life Insurance: This type of policy allows policyholders to participate in market gains while protecting against market losses. It combines the benefits of universal life insurance with the potential for investment growth.
- Whole Life Insurance: Whole life insurance policies provide lifelong coverage and build cash value over time. They can serve as both a financial protection and investment tool.
- Term Life Insurance: Term life insurance offers coverage for a specified term, making it a cost-effective option for temporary insurance needs. National Western provides options for various term lengths.
- Retirement Annuities: National Western offers retirement annuities designed to help individuals save and invest for their retirement years, providing a steady income stream during retirement.
- Investment Solutions: In addition to insurance products, the company offers various investment solutions to help individuals grow their wealth and plan for the future.
The availability and specific details of these coverage options may vary, and it’s important to consult with National Western Life Insurance Company directly or visit their official website for the most up-to-date information and policy specifics.
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National Western Life Insurance Company Insurance Rates Breakdown
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| Driver Profile | National Western | National Average |
|---|---|---|
| Clean Record | $110 | $119 |
| 1+ Ticket | $280 | $147 |
| 1+ Accident | $300 | $173 |
| DUI | $350 | $209 |
| Poor Credit | $189 | $205 |
*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver
National Western Life Insurance Company Discounts Available
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| Discount | National Western |
|---|---|
| Anti Theft | 8% |
| Good Student | 18% |
| Low Mileage | 12% |
| Paperless | 7% |
| Safe Driver | 22% |
| Senior Driver | 10% |
While National Western Life Insurance Company primarily focuses on life insurance and annuities, which typically don’t offer traditional discounts like those seen in auto or homeowners insurance, some factors can indirectly influence the cost of life insurance policies:
- Health and Lifestyle Discounts: The company may offer better rates for individuals with excellent health and lifestyle choices. Non-smokers and those with a healthy BMI may receive more favorable premium rates.
- Multi-Policy Discounts: If National Western Life Insurance Company also provides other types of insurance, such as home or auto insurance (though this is less common for life insurance providers), they might offer discounts for bundling multiple policies.
- Long-Term Policies: Policyholders who commit to long-term life insurance policies, such as whole life insurance, may receive better rates compared to shorter-term policies.
- Safe Occupations: Individuals in low-risk occupations may receive more affordable life insurance rates compared to those in high-risk jobs.
- Preferred Underwriting: Some life insurance companies offer “preferred” or “preferred plus” underwriting classes for applicants in excellent health. These applicants receive lower premiums.
- Payment Frequency: Policyholders who choose to pay premiums annually, rather than monthly, may receive a discount.
- Loyalty Discounts: Some insurers offer discounts to long-time policyholders who renew their policies.
- Group Policies: National Western Life Insurance may provide group life insurance policies through employers or organizations, which can offer cost savings compared to individual policies.
Inquire directly with the National Western Life Insurance Company or any insurer you’re considering to determine the specific discounts they offer and the eligibility criteria associated with each discount. Discount availability can vary by state and other factors, so discussing your options with an insurance agent or representative is advisable.
How National Western Life Insurance Company Ranks Among Providers
In the world of insurance and financial services, competition is fierce, with numerous companies vying to meet the diverse needs of consumers. National Western Life Insurance Company, with its long history and diverse range of insurance products, faces competition from several key players in the industry.
Below, we will explore some of the main competitors that National Western Life Insurance Company encounters in the marketplace. Here are the competitors of National Western Life Insurance Company:
- Prudential Financial, Inc.: Prudential is a global financial services leader known for its extensive range of insurance and investment products. With a strong presence in both the life insurance and annuities sectors, Prudential competes with National Western by offering a wide array of coverage options and financial solutions.
- Metlife, Inc.: Metlife is another major player in the insurance industry, offering a broad spectrum of life insurance and annuity products. Their long-standing reputation and global reach make them a formidable competitor for National Western.
- New York Life Insurance Company: New York Life is one of the largest and oldest mutual life insurance companies in the United States. They are known for their financial strength and commitment to policyholders. New York Life’s focus on providing life insurance and financial planning services puts them in direct competition with National Western.
- Northwestern Mutual: Northwestern Mutual is renowned for its emphasis on financial planning and security. They offer a range of insurance and investment products, including life insurance and annuities. Northwestern Mutual’s reputation for financial stability and personalized financial planning services makes it a strong competitor.
- Massmutual (Massachusetts Mutual Life Insurance Company): Massmutual is a mutual life insurance company with a significant presence in the insurance and financial services industry. They offer a variety of life insurance and annuity options, along with investment and retirement solutions, competing directly with National Western.
In the competitive landscape of life insurance and annuities, National Western Life Insurance Company faces formidable competitors like Prudential, MetLife, New York Life, Northwestern Mutual, and MassMutual. These companies offer a wide range of products and services, and their strong reputations and financial stability make them key players in the industry.
Consumers have the advantage of choice when it comes to selecting insurance and financial solutions, and this competition drives companies to continually innovate and provide value to policyholders.
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National Western Life Insurance Company Claims Process
Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)
National Western Life Insurance Company offers multiple options for filing insurance claims, ensuring convenience for policyholders. You can file a claim through their user-friendly online portal, over the phone with their dedicated customer service team, or even via their mobile app. This flexibility makes it easy for customers to initiate the claims process in a way that suits their preferences and needs.
Average Claim Processing Time
The average claim processing time with National Western Life Insurance Company is known for its efficiency. While specific processing times may vary depending on the nature and complexity of the claim, the company is committed to promptly reviewing and resolving claims.
Policyholders can expect a relatively quick turnaround, providing them with the financial support they need during challenging times.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback on claim resolutions and payouts with National Western Life Insurance Company has generally been positive. Policyholders have reported satisfaction with the company’s responsiveness and the fairness of their claim settlements.
This positive feedback reflects the company’s commitment to providing reliable and efficient claims services, further enhancing their reputation in the insurance industry.
Digital and Technological Features of National Western Life Insurance Company
Mobile App Features and Functionality
National Western Life Insurance Company offers a feature-rich mobile app that empowers policyholders to manage their insurance needs conveniently. The app provides access to policy information, allows for easy premium payments, and facilitates the submission of claims.
Additionally, users can receive alerts and notifications, keeping them informed about their policies and important updates.
Online Account Management Capabilities
The company’s online account management capabilities are robust and user-friendly. Policyholders can log in to their accounts via the website or mobile app to view policy details, update personal information, and track their premiums and benefits. This online platform simplifies policy management, making it easy for customers to stay in control of their coverage.
Digital Tools and Resources
National Western Life Insurance Company offers a range of digital tools and resources to support their policyholders. These resources include educational materials, calculators, and guides to help customers make informed decisions about their insurance and financial planning.
These digital tools contribute to the company’s mission of empowering individuals to secure their financial future wisely.
Frequently Asked Questions
What types of insurance does National Western offer?
National Western provides a variety of insurance options, including life insurance, annuities, and investment solutions.
How long has National Western been in business?
National Western Life Insurance Company was founded in 1956, boasting over six decades of experience.
What are the benefits of National Western’s life insurance policies?
National Western’s life insurance policies offer financial security, retirement planning, investment opportunities, tax advantages, and peace of mind.
Where is National Western headquartered?
The company is headquartered in Austin, Texas.
Are there customer reviews available for National Western?
Yes, National Western has received positive customer reviews, highlighting their excellent customer service and reliable policies.
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Daniel Walker
Licensed Insurance Agent
Daniel Walker graduated with a BS in Administrative Management in 2005 and has run his family’s insurance agency, FCI Agency, for over 15 years (BBB A+). He is licensed as an insurance agent to write property and casualty insurance, including home, life, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com and Safeco. To ensure our content is accura...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
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