Ohio National Life Insurance Review

Call Ohio National Life Insurance at 800-366-6654 to apply for coverage. Monday through Friday, 8:30 a.m. to 5:00 p.m. ET, the customer service department is open. For additional information, here’s a Ohio National Life Insurance Review.

Pros and Cons of Ohio National Life Insurance

Ohio National Life Insurance Review - Ohio National Life Insurance Logo

Pros

  • Permitting a great degree of customization.
  • The whole account management process is conducted online.
  • Obtaining the dividend’s possible payment.
  • The procedure of submitting a claim was pretty straightforward.
  • The capacity of an individual to repay debt

Cons

  • Loan applicants will be subject to tighter criteria.
  • There are no quotes accessible on the internet at the moment.
  • Payments by credit card will not be accepted.
  • New Yorkers will have to look for a solution elsewhere.

What types of life insurance coverage does Ohio National offer?

Ohio National Insurance Company provides both long- and short-term life insurance.

  • Term life insurance. The term lengths of life insurance plans offered by Ohio National range from ten to twenty years. Flex Term Basic provides the most fundamental level of protection, whereas Flex Term Plus incorporates a conversion capability. A temporary policy may be revised prior to the deadline.
  • Whole life insurance. The company offers five distinct whole life insurance plans, each with its unique payment schedule. For the first ten or twenty years of your coverage, you can pay your premiums in ten or twenty payments. Finally, Prestige Max III permits you to continue paying premiums until you reach the age of 65 or until 10 years have passed since you purchased the insurance.
  • Universal life insurance. Universal life insurance has never been simpler than with the Ohio National V-Pro UL. As long as you live, the insurance company will cover you and you will earn interest at a certain rate. As a result, you also retain complete control over the amount and frequency of premium payments.
  • Variable universal life insurance. The value of your Virtus VL hybrid insurance coverage is determined by the cash value of your portfolio’s assets. The return on your investment is not guaranteed, and the value of your investment may increase or decrease. To invest in this product, which is only available via prospectus, you must have a high tolerance for risk and previous financial competence.
  • Indexed universal life insurance. As with other forms of permanent insurance, Virtus Indexed Universal Life accumulates cash value while providing lifetime coverage. Cash value is linked to an index, such as the S&P 500, increasing both risk and reward.

Are there any other riders that I may include in my policy?

There are a variety of options for adding riders to the insurance company’s coverage. These are some of the riders that may be added in your insurance policy:

  • Rider for increased death benefit. It is possible to get a portion of your death benefit if you are diagnosed with a terminal disease.
  • Riders who are under the age of 18 are not permitted. You will receive a little death benefit if your child dies. Your children are protected as long as they are under the age of 25 or have gotten married at the time the rider expires.
  • The rider is compensated with life-threatening sickness. If you are diagnosed with a chronic or severe disease, there is a one-time payment.
  • A rider that secures your insurance coverage. You may be possible to obtain extra insurance without establishing your insurability, as you are not required to verify your risk.
  • Rider renounces his or her claim to a higher fare. If you become disabled and unable to work, there are no premiums owed.

Ohio National life insurance reviews and complaints

Despite the fact that Ohio National is not recognized by the Better Business Bureau, they have an A+ rating for customer service and interactions (BBB). As of October 2020, the BBB had received no consumer complaints or feedback.

As a result, the insurance industry has a complaint ratio of 0.51. With a median ratio of 1, Ohio National receives less complaints than the industry average.

Check out our review of Northwestern Mutual Life Insurance Review for another  insurance review.

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