Ohio National Life Insurance Company Review (2024)
Explore the century-long legacy of Ohio National Life Insurance Company, a trusted industry player, as we uncover their commitment to providing customizable life insurance policies and ensuring financial stability for individuals and families.
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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Ohio National Life Insurance Company
Average Monthly Rate For Good Drivers
N/AA.M. Best Rating:
AComplaint Level:
LowPros
- Diverse range of insurance products.
- Personalized retirement planning services.
- Positive customer reviews.
- Flexible life insurance options.
Cons
- Rates may vary depending on individual circumstances.
- Specific details on rates and policies may require a personalized quote.
In this comprehensive article, we delve into the offerings of Ohio National Life Insurance Company, a trusted name with a century-long legacy in the insurance industry. Ohio National stands as a stalwart, offering a diverse array of insurance policies tailored to meet individual and family needs.
They provide various types of life insurance, including term, whole, and universal life policies, along with annuities, disability income insurance, and long-term care coverage.
With a focus on customization, flexibility, and potential financial benefits like cash value accumulation and dividend payments, Ohio National aims to provide policyholders with peace of mind and a secure financial future. Their commitment to serving customers, backed by a strong history of financial stability, makes them a reliable choice in the world of life insurance.
Ohio National Life Insurance Company Insurance Coverage Options
Ohio National Life Insurance Company offers a range of coverage options to meet the diverse needs of individuals and families. Here are the coverage options typically offered by the company:
Life Insurance:
- Term Life Insurance: Provides coverage for a specified term, offering financial protection to beneficiaries in the event of the policyholder’s death during that term.
- Whole Life Insurance: Offers lifelong coverage with a cash value component that grows over time. Policyholders can potentially build cash value and receive dividends.
- Universal Life Insurance: Combines lifelong coverage with flexibility in premium payments and the potential for cash value growth. Policyholders can adjust the death benefit and premium payments to suit their needs.
- Variable Universal Life Insurance: A type of universal life insurance that allows policyholders to invest in various investment options, potentially increasing the policy’s cash value.
Annuities:
- Fixed Annuities: Provide a guaranteed stream of income over a specified period, making them suitable for retirement planning.
- Variable Annuities: Offer investment options within the annuity, allowing policyholders to potentially grow their retirement savings based on market performance.
Disability Income Insurance:
- Provides financial protection by replacing a portion of the policyholder’s income if they become disabled and are unable to work.
Long-Term Care Insurance:
- Helps cover the costs associated with long-term care services, such as nursing home care or in-home care, should the policyholder require it.
These coverage options can be customized to fit individual needs and financial goals. Ohio National Life Insurance Company is known for its flexibility in tailoring policies to suit the unique circumstances of policyholders.
Read more: Ohio National Life Assurance Corporation: Customer Ratings & Reviews
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Ohio National Life Insurance Company Insurance Rates Breakdown
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| Driver Profile | Ohio National Life Insurance Company | National Average |
|---|---|---|
| Clean Record | $139 | $119 |
| 1+ Ticket | $152 | $147 |
| 1+ Accident | $178 | $173 |
| DUI | $243 | $209 |
| Poor Credit | $239 | $205 |
*monthly rates are based on an average of minimum and full coverage for a 45-year-old male driver
Ohio National Life Insurance Company Discounts Available
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| Discount | Ohio National Life Insurance Company |
|---|---|
| Anti Theft | 12% |
| Good Student | 10% |
| Low Mileage | 15% |
| Paperless | 5% |
| Safe Driver | 10% |
| Senior Driver | 8% |
Ohio National Life Insurance Company, as a provider of life insurance and related financial products, typically doesn’t offer traditional discounts like those commonly associated with auto insurance. These benefits can be seen as a form of “discount” in the context of life insurance. Here are some potential benefits that Ohio National Life Insurance Company may offer:
- Customized Policies: Ohio National is known for tailoring policies to meet individual needs, ensuring that policyholders pay for the coverage they require without unnecessary expenses.
- Flexible Premium Options: Policyholders may have flexibility in choosing premium payment frequencies (e.g., monthly, annually) to align with their budget and financial preferences.
- Cash Value Accumulation: Some types of life insurance policies offered by Ohio National, such as whole life and universal life, can accumulate cash value over time. This can be seen as a form of savings or investment.
- Dividend Payments: Depending on the policy, policyholders may be eligible for dividend payments, which can be used to reduce premiums, increase coverage, or be taken as cash.
- Rider Options: Ohio National may offer various riders or add-on options that can enhance the policy’s coverage. These riders can be customized to fit individual needs, providing additional value.
- Underwriting Discounts: While not traditional discounts, individuals in good health or with favorable lifestyle factors may receive more competitive premium rates based on underwriting assessments.
- Loyalty Benefits: Some policies may provide loyalty or long-term benefits to policyholders who maintain their coverage with Ohio National over time.
It’s important to note that the specifics of these benefits and discounts can vary depending on the type of policy and individual circumstances. Policyholders should consult with Ohio National representatives or agents to understand the exact benefits and customization options available to them.
How Ohio National Life Insurance Company Ranks Among Providers
Ohio National Life Insurance Company faces competition in the life insurance industry from several other well-established insurance companies. Here are some of its main competitors:
- Prudential Financial: Prudential is one of the largest life insurance companies in the United States. They offer a wide range of life insurance products, including term, whole, and universal life policies. Prudential is known for its financial stability and a long history of serving policyholders.
- Metlife: Metlife is another major player in the life insurance industry. They provide a variety of insurance and financial products, including life insurance, annuities, and retirement planning services. MetLife has a strong global presence and a solid reputation.
- Northwestern Mutual: Northwestern Mutual is highly regarded for its dividend-paying whole-life insurance policies. They focus on providing comprehensive financial planning services, including life insurance, investment, and retirement planning. Northwestern Mutual is known for its financial strength and customer-centric approach.
- New York Life: New York Life is one of the oldest and largest mutual life insurance companies in the U.S. They offer a wide array of life insurance and investment products. New York Life is known for its financial stability and commitment to policyholder dividends.
- Massmutual: Massachusetts Mutual Life Insurance Company, commonly known as Massmutual, is a mutual company that offers life insurance, retirement planning, and investment products. They have a strong focus on policyholder ownership and financial security.
- Lincoln Financial Group: Lincoln Financial Group provides a range of insurance and financial services, including life insurance, annuities, and retirement planning. They are known for their diverse product offerings and strong financial ratings.
- AIG (American International Group): AIG is a global insurance company offering various insurance products, including life insurance and retirement solutions. They have a significant presence in the insurance market and offer a wide range of investment options.
These are some of the key competitors of Ohio National Life Insurance Company in the life insurance industry. The competition among these companies is intense, and consumers have a range of options to choose from when seeking life insurance coverage.
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Ohio National Life Insurance Company Claims Process
Ease of Filing a Claim
Ohio National Life Insurance Company offers multiple convenient methods for policyholders to file claims, ensuring a hassle-free experience. Policyholders have the flexibility to file claims online through the company’s official website, over the phone, or by using their mobile apps.
This variety of options caters to the diverse preferences and needs of customers, making it easy for them to initiate a claim whenever necessary.
Average Claim Processing Time
One of the key factors that determine the efficiency of an insurance company is the speed at which claims are processed. Ohio National Life Insurance Company has a competitive edge in this regard, as they are known for their prompt claim processing. Policyholders can expect their claims to be handled efficiently, with a focus on minimizing delays and providing timely support during critical moments.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback plays a pivotal role in assessing the quality of an insurance company’s claims process. Ohio National Life Insurance Company has received positive reviews from customers regarding their claim resolutions and payouts.
Policyholders appreciate the company’s commitment to fulfilling claims promptly and fairly, which contributes to their overall satisfaction with the insurance provider.
Ohio National Life Insurance Company Digital and Technological Features
Mobile App Features and Functionality
Ohio National Life Insurance Company offers a user-friendly mobile app that provides policyholders with convenient access to their insurance accounts. The app includes a range of features and functionalities, such as policy information, premium payments, and the ability to initiate and track claims.
This mobile app empowers customers to manage their insurance policies on the go, enhancing their overall experience.
Online Account Management Capabilities
For policyholders who prefer to manage their insurance accounts online, Ohio National offers a robust online account management platform. Through this platform, customers can easily view and update their policy details, make payments, and access important documents.
The online account management capabilities ensure that policyholders have full control and visibility over their insurance policies.
Digital Tools and Resources
Ohio National Life Insurance Company is committed to providing policyholders with valuable digital tools and resources to support their insurance journey. These resources may include educational materials, calculators, and guides to help customers make informed decisions about their coverage.
The company’s investment in digital tools demonstrates their dedication to empowering policyholders with knowledge and resources to navigate the world of insurance effectively.
Ohio National Life Insurance Company’s commitment to both the claims process and digital technology features reflects their dedication to providing a seamless and customer-centric insurance experience. Policyholders can expect efficient claims processing and convenient digital solutions to manage their policies effectively.
Frequently Asked Questions
Is Ohio National Life Insurance Company a reputable insurer?
Yes, Ohio National has a long history of financial strength and positive customer reviews.
What types of life insurance does Ohio National offer?
They offer term, whole, and universal life insurance policies.
Can I customize my insurance policy with Ohio National?
Absolutely, Ohio National offers flexible policies tailored to your needs.
Are there tax advantages to Ohio National’s policies?
Yes, some policies provide tax benefits that can help you save money.
How can I contact Ohio National for more information?
You can reach out to Ohio National Life Insurance Company through their official website or by contacting a local agent.
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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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