National Guardian Life Insurance Company: A Comprehensive Review

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National Guardian Life Insurance Company (NGL) is a mutual insurance company that has been providing life insurance and annuity products to its policyholders for over a century. NGL was founded in 1909 and is headquartered in Madison, Wisconsin. In this article, we will review NGL’s history, financial ratings, products, and pros and cons.

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History of National Guardian Life Insurance Company

NGL has a long history of providing quality insurance products to its policyholders. The company was founded by Louis J. Bernhardt, who had a vision of creating an insurance company that would provide affordable insurance products to people of modest means. NGL started as a fraternal benefit society that provided death benefits and sick benefits to its members.

In 1982, NGL converted from a fraternal benefit society to a mutual insurance company. This conversion allowed the company to expand its product offerings and increase its financial strength. In 2010, NGL celebrated its 100th anniversary and continues to provide quality insurance products to its policyholders.

National Guardian Life Insurance Company Financial Ratings

As of December 31, 2020, NGL had assets of over $5 billion and a surplus of over $400 million. NGL has been rated A- ( Excellent) by A.M. Best, a rating agency that specializes in the insurance industry, for over 15 years. This rating indicates that NGL has a strong financial position and is able to meet its policyholders’ obligations.

In addition to its excellent financial ratings, NGL has also received an A+ rating from the Better Business Bureau, which indicates that the company has a good reputation and responds to customer complaints in a timely and efficient manner.

Products Offered by National Guardian Life Insurance Company

NGL offers a variety of life insurance and annuity products to its policyholders. These products include:

Product
Description
Term life insurance
Provides coverage for a specific period of time, usually 10-30 years. Premiums are typically lower than permanent life insurance.
Whole life insurance
Provides lifelong coverage and includes a savings component that grows tax-deferred over time.
Universal life insurance
Provides lifelong coverage and includes a savings component that can be adjusted over time. Policyholders can choose to pay more than the required premium to increase the savings component.
Fixed annuities
Provides a guaranteed rate of return over a specific period of time. The policyholder can choose to receive payments in a lump sum or over a specific period of time.
Indexed annuities
Provides a rate of return based on the performance of an index, such as the S&P 500. The policyholder can choose to receive payments in a lump sum or over a specific period of time.

Pros and Cons of National Guardian Life Insurance Company

Like any insurance company, NGL has its pros and cons. Here are some of the advantages and disadvantages of NGL:

Pros

Financial Strength: NGL has a strong financial position and has been rated A- (Excellent) by A.M. Best for over 15 years.

Product Variety: NGL offers a variety of life insurance and annuity products to meet the needs of its policyholders.

Customer Service: NGL has received an A+ rating from the Better Business Bureau, which indicates that the company has a good reputation and responds to customer complaints in a timely and efficient manner.

Cons

Pricing: NGL may not offer the most competitive pricing compared to other insurance companies.

Availability: NGL’s products may not be available in all states.

Frequently Asked Questions (FAQ)

What is National Guardian Life Insurance Company?

National Guardian Life Insurance Company is a mutual insurance company that provides life insurance and annuity products to its policyholders.

What types of products does National Guardian Life Insurance Company offer?

NGL offers a variety of life insurance and annuity products, including term life insurance, whole life insurance, universal life insurance, fixed annuities, and indexed annuities.

What is NGL’s financial rating?

NGL has been rated A- (Excellent) by A.M. Best, a rating agency that specializes in the insurance industry, for over 15 years.

What is NGL’s customer service rating?

NGL has received an A+ rating from the Better Business Bureau, which indicates that the company has a good reputation and responds to customer complaints in a timely and efficient manner.

Are NGL’s products available in all states?

NGL’s products may not be available in all states.

Final Thoughts

National Guardian Life Insurance Company is a reputable insurance company that has been providing quality insurance products to its policyholders for over a century. NGL has a strong financial position and a variety of products to meet the needs of its policyholders. However, NGL’s pricing may not be as competitive compared to other insurance companies, and its products may not be available in all states. As with any insurance product, it is important to research and compare different options before making a decision.

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