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National Life health insurance plan

Learn about National Life Health Insurance Plan

National Life Group is an insurance company that provides diverse services such as life insurance, annuities, business succession, mutual funds and estate, and retirement planning strategies. It provides financial products to businesses, families, and individuals. National Life Group was established in 1848 and it is based in Montpelier, Vermont. The corporation includes several subsidiary companies such as National Life Insurance Company, Life Insurance Company of the Southwest and Sentinel Investments and Equity Services Inc; and it has over $30 billion in assets.

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What Does National Life Group Benefit Cover?

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What are the Different Health Insurance Plans Offered by National Life

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News about National Life

National Life Insurance announced on July 16, 2018, that the holders of the 10.5% surplus notes due 2039 may tender them in principal amounts equivalent to minimum denominations of $2,000 and multiples of $1,000.  The exchange is owing to its previously announced offer to exchange any and all of the existing surplus notes held by eligible holders for National Life’s 5.25% Fixed-to-Floating Rate surplus notes due 2068.

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National Life Insurance FAQ

What happens if I am unable to pay my life insurance premium?

If you are covered by term life insurance, you will be given a grace period to make the payment. However, if you are not able to make the payment at the end of the grace period, you will no longer be covered by your policy.

Those covered by permanent life insurance coverage will also be given a grace period to make their payment but there are some additional options included. It is possible that your policy has enough cash value to pay your premiums. However, your policy’s cash value will reduce if you use your policy values and benefits to pay your due premiums.

If you have troubles to make your premium payment, the best option for you would be to contact the insurer’s service area and find out the options available for your policy.

Should I name my minor children as my beneficiary?

It is best not to name your minor children as your beneficiary because most states require that a guardian be appointed to manage the proceeds that would be paid to the minors. This usually leads to time delay in creating the guardianship and therefore delay in the benefit payment and more cost on you.

The best for you would be to name a guardian, maybe your spouse. You can also establish a trust to receive the insurance benefits for your minor child.

Can someone else own my life insurance policy?

Yes, someone else other than the person insured can own the life insurance policy. However, it is required that that person must also be the beneficiary of the policy. If this is not the case, the death benefit will be treated as a taxable gift from the policy owner to the beneficiary when the insured dies.

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