National life assurance is part of the national family assurance Group and is based in Washington. It offers services online, from life, home, and health to auto insurance coverage. It has earned trust over the years by working with major providers, including insurance, GEICO, liberty mutual, Allstate, and Nationwide.
Because it is an online platform, people find it convenient to get their services in the comfort of their homes. It provides a range of services that suits people with different financial backgrounds to avail their products based on their needs and budget. In this national family assurance reviews article, we will explore their services and whether it is a legitimate option to choose when buying life insurance products.
National Life Assurance Products
National Family provides access to its customers to a variety of life insurance products that are their own or of one of their partner providers. Whatever the case, you’ll find many life insurance products on their site. These are the products you can find on their site:
Term Life Insurance
Term life insurance offers coverage for a specified period. Multiple filters are available for the policy based on your budget and needs. It is one of the least expensive life insurance policies offering a term period of 0-40 years of coverage. The insured will get the death benefits if his death occurs during the term. The coverage with the policy expires as your designated term expires. Then, you can renew the policy with extra charges.
National Family offers term life insurance policies to adults between 18-70 who can buy a term for 10, 15, 20, or 30 years. The policy coverage ranges from $50,000 to #3,000,000. You get immediate approval for policies up to $1,000,000.
Universal Life Insurance
A type of permanent life insurance, universal life insurance provides coverage for the entire life span, and there is no limited coverage for a limited period as with term life insurance. It is popular due to its flexible components. Unlike term life insurance, universal life insurance allows flexible premiums as long as there is enough cash in the policy, which will cover the insurance cost. Your premiums can be more or less than the previous year if the policy has significant cash.
Universal life insurance does not get dividend payments but receives an interest rate on the available cash in the policy. This interest rate is attached to a reference rate such as LIBOR, which changes yearly. An option for variable universal life insurance allows the insured to accumulate cash value and invest in multiple subaccounts in the policy.
Whole Life Insurance
Whole life insurance is another permanent life insurance policy that promises coverage for the entire life, not for a designated period. It has a cash value component, which makes the policy more popular. Because the coverage accrues cash value, the insured can have a death benefit more than the policy value as it generates dividends over time.
Buying whole life insurance from national family assurance requires you to be 18-79 and can get coverage between $30,000-$1,000,000. It does not require different conditions for buying their policy.
Final Expense Policy
The last expense insurance offered by National Family is simple to issue, so no test is necessary, even though you’ll still need to provide some information about your medical history. If you’re between 50 and 85, you can acquire one of these policies, and the coverage amounts range from $5,000 to $30,000.
There are three available rate classes:
Preferred: you’ll start with full coverage.
Standard: For the first three years of your insurance, the death benefit that your beneficiaries would get is restricted.
Modified: If you were to pass away during the first three years of the policy’s inception, your beneficiaries would get a reduced portion of the death benefit.
Additional Riders of National Family Assurance
Any life insurance, including standard term life insurance, may not always provide all the required coverage. A typical insurance plan may be supplemented with riders to include additional benefits the policyholder desires. National Family offers a variety of plans and riders. Some of them consist of the following:
Accidental death benefit: the policy provides additional coverage if the insured dies in an accident.
Critical illness rider: the policyholder receives living benefits for paying medical expenses if he suffers from severe health problems.
Child protection: the insured gets additional coverage for his child’s death with smaller death benefits than the original.
Family income benefit: if the insured dies, the family receives an amount equal to the deceased’s salary for a specific time.
Disability income: if the policyholder goes through a severe illness or injury that led him to miss work, this coverage will pay specific benefits.
Long-term care: the insurance company pays if the insured needs home health care due to chronic disease or illness like Alzheimer’s.
Spouse protection: this rider provides death benefits if the insured’s spouse passes away.
Unique Features of National Family Life Insurance
The features of National Family Assurance vary because it is made to offer different forms of life insurance for a variety of insurers. According to the website, the service has some repaired functions. These consist of the following:
- Savings on life insurance of up to 70%
- Assurance of acceptance until the age of 85
- $50000 in maximum coverage
- without a medical examination
How to Apply for National Family Life Insurance
Requesting quotes and applying for life insurance with National Family is easy and quick. A few online questions are required for the platform to offer you a selection of suitable coverage quotes.
Standard inquiries about your name, date of birth, residence, phone number, gender, and whether you have kids will be made of you. Additionally, National Family needs to know your:
- Marital status
- Height and weight
- medical history
- Occupational status
National Family will then present estimates from their affiliated insurers to you based on the data you provided. When selecting term life insurance, switching between different policy length options and comparing coverage prices from these companies is simple.
A guide will call you to ask you to confirm the information if there are any questions about the information you provided. After that, they will connect you with an agent on the opposite end of the queue. No in-person consultation is necessary to purchase a life insurance policy from National Family.
Once you’ve decided on your ideal life insurance policy, you’ll be sent to the insurance provider’s website to finish the application process and provide any additional information. At this point, an underwriter might call you, and you’ll find out whether a medical exam is necessary for you to purchase your coverage.
National Family Assurance Ratings and Reviews
The Better Business Bureau has recognized National Family, which has an A- rating.
Most customer grievances lodged on the BBB website concern solicitation by third parties. However, under the California Consumer Privacy Act, California residents may always choose not to have their personal information shared by National Family.
Is National Family Assurance a Name I Can Trust
National Family can make it simple to acquire numerous rates for coverage in one location, whether you’re looking to buy term, whole life, or even a last expense policy. National Family has an insurance package for you if you are between 18 and 85 and are interested in coverage between $5,000 and $3 million.
Even though Assurance owns it, this aggregator platform cares about assisting customers in locating the best coverage at the best price, even if that means staying away from them! Although their application is online, their agents and guides give your shopping experience a personalized touch and work with you day and night to create your policy.
National Family provides quotations from various providers, but comparing prices as much as possible before making a purchase is still a good idea. In this manner, you may relax knowing that your loved ones are safe no matter what.