National Life Group Review (2026)

National Life Group is one of our picks for the top-rated insurance companies in the industry — and for good reason. With an A+ (Superior) rating from A.M. Best reaffirmed in July 2025, a #2 ranking from the Wall Street Journal for best whole life insurance companies, and their position as the second-largest indexed universal life provider in the country, National Life Group has earned serious consideration from anyone evaluating permanent life insurance options.

Below we cover the company’s financial strength, life insurance products — including both whole life and their three-tier IUL lineup — living benefits, policy riders, and what you need to know before deciding if National Life Group is the right fit for your specific needs, goals, and objectives.

National Life Group is one of our picks for the top-rated insurance companies in the industry. In the following National Life Group review, we’ll focus on the company’s history, financial strength, life insurance products — including both whole life and indexed universal life — and the policy riders available so you can make an informed decision based on your unique needs, goals, and objectives.

About National Life Group

National Life Group is the trade name representing a group of affiliated companies, which include National Life Insurance Company, Life Insurance Company of the Southwest (LSW), and Equity Services, Inc. National Life Insurance Company is headquartered in Montpelier, Vermont, and was founded in 1848. Life Insurance Company of the Southwest is headquartered in Addison, Texas.

The ultimate controlling entity is the National Life Holding Company, which includes NLV Financial Corporation and several subsidiaries.

What is a mutual insurance company?

Mutual insurance companies are not owned by shareholders but rather by participating policyholders, who share in the ownership rights of the company and take part in the company’s profits through dividends.* Mutual companies operate for the sole benefit of policyholders rather than stockholders — a distinction that matters when you’re choosing a company to entrust with your financial future.

National Life Group has maintained a strong dividend history, paying dividends to participating policyholders continuously since 1855 — an unbroken record of more than 170 years.

*Dividends are paid to participating policy owners and are not guaranteed.

National Life Group Ratings & Financial Strength

National Life Group is one of the most financially stable insurance companies in the industry, as reflected in strong ratings from independent rating agencies. The company receives these high marks due to its commitment to limiting risk, its competitive advantage in the marketplace, and its substantial capital reserves.

National Life Group’s current ratings:

• A.M. Best rating: A+ (Superior), reaffirmed July 2025
• Fitch rating: A+ (Strong)
• Moody’s Investor Service rating: A1 (Good)
• Standard and Poor’s rating: A+ (Strong)
• BBB Grade: A+
• J.D. Power 2025 Study: #7 out of 22 companies
• Comdex Ranking: 80

These strong ratings reflect National Life Group’s very strong balance sheet, robust operating performance, and effective risk management practices. In their most recent A.M. Best review, the agency highlighted National Life Group’s consistent profitability, improving market position, and the successful launch of their funding agreement-backed note (FABN) program — a $500 million issuance completed in January 2025 that demonstrates sophisticated financial management.

The company has also demonstrated resilience and growth despite economic volatility, with $530 million in new life insurance sales and over 1.4 million customers as of 2024. Customer satisfaction has improved markedly, with National Life Group jumping from #14 to #7 in J.D. Power’s 2025 U.S. Individual Life Insurance Study, and the company earned a spot on the Forbes America’s Best Insurance Companies list for both 2024 and 2025.

2025-2026 Product Updates

RapidProtect: Instant-Decision IUL

In September 2025, National Life Group launched RapidProtect — a groundbreaking instant-decision indexed universal life (IUL) product designed for middle-market families. Key features include:

• Coverage from $50,000 to $500,000 — an accessible range for most families
• Instant decision — applicants know immediately if they qualify
• No medical tests or lab work required — simplified underwriting with limited health questions
• Available ages 0-60 — including juveniles for family planning
• Full living benefits suite — including the industry-first Alzheimer’s Disease rider
• Transparent underwriting — applicants receive the top three reasons for their decision

RapidProtect uses predictive underwriting technology, and the transparency around decision reasoning is unusual in the industry. This product strengthens National Life Group’s position as the second-largest IUL provider in the country.

Enhanced Living Benefits Riders

National Life Group expanded its living benefits suite with two industry-first riders:

• Alzheimer’s Disease Rider: Provides an advance payment of the death benefit upon diagnosis of Alzheimer’s disease, helping families cope with the financial burden of care.
• Fertility Journey Rider: An industry-first benefit that provides financial support for those undergoing fertility treatments.

These new riders complement National Life Group’s already comprehensive living benefits package, which includes terminal illness, chronic illness, critical illness, and critical injury riders on all permanent policies. These living benefits allow policyholders to access their death benefit while still living if they meet certain qualifying conditions — a critical feature when comparing against companies that charge extra for similar coverage.

Dividends for 2026

As a mutual company, the National Life Group Board of Directors approved an estimated payment of $23 million in dividends to eligible participating policyholders in 2026, continuing their unbroken dividend payment record since 1855.

Current dividend interest rates for whole life products:

• TotalSecure (2021 Series): 5.00%
• TotalSecure (2018 Series): 4.50%
• LifeBuilder: 4.00%
• Protector Life: 4.25%

For a broader comparison of how these rates stack up against the industry, see our whole life insurance dividend rate history chart.

Digital Underwriting Innovations

National Life Group has significantly enhanced its underwriting processes:

• EZ Underwriting Program: Qualified applicants ages 18-65 can get up to $3 million in permanent coverage or $2 million in term coverage without a medical exam.
• RapidProtect: Instant decisions for IUL coverage up to $500,000 with no medical tests.
• Virtual Sales and Underwriting Platform: Fully digital onboarding and remote policy issuance capabilities.
• Accelerated Approval Process: 18-25% of cases receive instantaneous approval through the digital platform.

National Life Group Life Insurance Products

National Life Group, through its affiliates, offers a comprehensive line of life insurance products. For the purposes of this review, we’ll focus on the three categories that matter most: whole life, indexed universal life, and term life.

Whole Life Insurance (TotalSecure)

National Life Group’s flagship whole life product is TotalSecure, which the Wall Street Journal examined and ranked #2 among the best whole life insurance companies for 2025. TotalSecure offers flexible payment options, including:

• 10-Pay (premiums paid for just 10 years)
• 15-Pay
• 20-Pay
• Paid-up at 65
• Lifetime coverage

Minimum face amount is $50,000, available to applicants ages 0-85. All National Life Group whole life policies come with three key guarantees:

• Guaranteed death benefit
• Guaranteed cash value accumulation
• Guaranteed level premiums

Because National Life is a mutual company, TotalSecure policyholders can receive dividends. You can use those dividends to purchase paid-up additions (increasing both cash value and death benefit), reduce premium payments, accumulate at interest, or take as cash.

Additionally, National Life Group offers LSW ProtectorLife Whole Life Insurance and ValuGuard Survivorship Whole Life for specialized needs such as estate planning and business succession.

For a deeper dive into how whole life insurance costs vary by age and health class, see our whole life insurance cost guide and whole life insurance rates by age chart.

Indexed Universal Life Insurance (FlexLife, PeakLife & SummitLife)

National Life Group is the second-largest provider of indexed universal life insurance in the country, offering three distinct IUL product tiers designed for different financial goals and client profiles:

FlexLife IUL

The flagship IUL product offers both death benefit protection and cash value accumulation potential linked to market index performance. Features include:

• Multiple index options including S&P 500 Cap Focus, Participation Focus, Balanced Trend, and US Pacesetter strategies
• Downside protection with 0% floor
• Flexible premium payment schedule
• Living benefits included at no additional cost
• Minimum face amount of $25,000

PeakLife IUL

Designed for higher-net-worth clients with a $1,000,000 minimum face amount. PeakLife offers everything FlexLife does, plus:

• Higher funding limits for supplemental retirement planning and wealth building
• Built-in no-cost enhancer bonus option
• Two additional enhanced bonus options (Enhancer Plus and Enhancer Max) for more aggressive accumulation
• Available ages 18-85

SummitLife IUL

The premium option for affluent clients, also with a $1,000,000 minimum. SummitLife includes:

• All PeakLife features plus additional custom volatility index for diversification
• Features for wealth transfer planning and guaranteed lifetime income
• Expanded availability to include juveniles for family sales
• Both GPT and CVAT test options available for optimizing cash value growth vs. death benefit

All three IUL products include National Life Group’s comprehensive Accelerated Benefits Riders at no additional cost. For those considering IUL, see our full IUL insurance guide and comparison of the best universal life insurance companies.

Term Life Insurance

National Life Group offers convertible term life insurance with various term length options:

• 10, 15, 20, and 30-year terms with guaranteed level premiums
• Annual Renewable Term (ART): Renews yearly with increasing premiums, ideal for short-term needs or business loan collateral

A key advantage of National Life Group’s term policies is the conversion option, which allows policyholders to convert to permanent coverage by age 70 or the end of the policy term (whichever comes first) without additional evidence of insurability. National Life allows conversion at issue age for the first five years; after that, the policy converts at attained age with up to a 12% term conversion credit.

In our opinion, if you’re considering term, pick a policy that can be converted into a top-of-the-line permanent policy. Alternatively, you can get a smaller permanent policy and add a term rider to maximize your death benefit while building cash value from day one. For a full breakdown, see our guide on whole life vs. term life.

Cash Value Features & Growth

The cash value component is one of the most important features of National Life Group’s permanent life insurance policies. Key aspects include:

• Guaranteed cash value growth based on a predetermined schedule (whole life)
• Index-linked growth potential with 0% floor protection (IUL)
• Tax-deferred accumulation under IRC 7702
• Access to funds via policy loans or withdrawals
• Additional growth potential through dividends (for participating whole life policies)
• Enhanced growth via paid-up additions (whole life) or enhancer bonuses (IUL)

For those focused on maximizing cash value growth, understanding the difference between overfunded life insurance and standard policy design is critical. The goal is to fund the policy up to — but not exceeding — the modified endowment contract (MEC) limit to maintain tax advantages while maximizing cash value accumulation.

Benefits of National Life Group Permanent Life Insurance

Although not exhaustive, below are some areas where National Life Group’s permanent life insurance can be extremely beneficial when combined with a diversified asset portfolio:

• Business Succession Planning
• Buy Sell Agreements
• Key Person Insurance
• Estate Planning
• Executive Bonus Plans
• Retirement Planning (LIRP)
• Wealth Building
• Infinite Banking Concept

Tax-Free Life Insurance Policy Loans

You can take out tax-free life insurance policy loans by using your cash value as collateral. National Life Group’s current loan interest rate is approximately 5%.

National Life Group practices direct recognition. When you take out a loan, National Life adjusts your policy dividends, which may result in a lower dividend on the cash value that currently has a loan against it. This is an important consideration when comparing companies for direct recognition vs. non-direct recognition policies — particularly if policy loans are a central part of your strategy.

Tax-Deferred Cash Value Growth

Under IRC 7702, cash value life insurance grows tax-deferred. And if you utilize the policy correctly, you will never need to pay taxes on the cash value growth.

Additional tax-deferred cash value accumulation can be acquired through the use of paid-up additions. Paid-up additions allow you to contribute more premium into the policy, up to, but not exceeding the modified endowment contract limit.

Tax-Free Death Benefit

Your beneficiary receives the death benefit income tax-free. The only way a death benefit is taxed is if your estate exceeds the federal estate tax exemption limit. If you have a large estate, careful estate planning — including the potential use of an irrevocable life insurance trust (ILIT) — is necessary.

Policy Riders & Options

Accelerated Benefits Riders (Included at No Cost on All Permanent Policies)

National Life Group’s living benefits package is one of the most comprehensive in the industry, included on all permanent policies at no additional charge:

• Chronic Illness Rider: Access to your death benefit if diagnosed with a qualifying chronic illness (unable to perform 2 of 6 activities of daily living for 90+ consecutive days or severe cognitive impairment). For more on how this compares, see our guide on long-term care rider vs. chronic illness rider.
• Terminal Illness Rider: Access up to $1,500,000 of your death benefit if diagnosed with a terminal illness with 24 months or less to live.
• Critical Illness Rider: Lump sum payment from your death benefit if diagnosed with a specific critical illness (ALS, cancer, stroke, heart attack, blindness, etc.).
• Critical Injury Rider: Lump sum payment from your death benefit if diagnosed with a specific critical injury (coma, severe brain injury, severe burns, paralysis).
• Alzheimer’s Disease Rider: Industry-first advance payment of the death benefit upon diagnosis of Alzheimer’s disease.
• Fertility Journey Rider: Industry-first financial support for those undergoing fertility treatments.

Additional Policy Riders (Availability Varies by Product)

• Children’s Term Rider: Up to $25,000 of life insurance for your kids up to age 23, with one fee regardless of how many children you have.
• Waiver of Premium: Premium is waived if you become disabled after a 6-month waiting period.
• Unemployment Rider: Premiums waived for 3 months following involuntary unemployment from your full-time job.
• Guaranteed Insurability Rider: Add more coverage at certain ages and life events regardless of your insurability.
• Other Insured Rider: Renewable term rider that covers your spouse, child, or business partner.
• Enhanced Death Benefit Rider: Pays a higher death benefit if death occurs within a targeted age range.
• Estate Preservation Rider: Additional protection for estate planning needs during the three-year look-back period for ILITs.
• Overloan Protection Rider: No-cost rider that protects the policy from lapsing when a policy loan exceeds the accumulated value (policy must be in force for 15 years; insured must be at least 75).
• Lifetime Income Benefit Rider: Guaranteed stream of income for life once specific requirements are met (policy in force 15 years; insured age 60-85).

National Life Group Review Conclusion

National Life Group stands as a strong contender in the life insurance industry, with its mutual structure, long-standing dividend history, innovative IUL product lineup, and industry-leading living benefits. The company’s financial strength — evidenced by A+ ratings across major agencies, a #7 ranking in J.D. Power’s 2025 study, and recognition by both the Wall Street Journal and Forbes — provides confidence to policyholders.

Their three-tier IUL lineup (FlexLife, PeakLife, SummitLife) plus the new RapidProtect instant-decision product makes National Life Group one of the most versatile IUL providers in the market. The TotalSecure whole life product, ranked #2 by the Wall Street Journal, offers solid guarantees with dividend potential.

However, there are considerations:

• Direct recognition: The direct recognition loan policy may impact dividend earnings on loaned amounts — an important factor for those planning to utilize policy loans extensively as part of strategies like infinite banking.
• Dividend scale: While competitive, National Life Group’s dividend rates are lower than top-tier mutual companies like MassMutual or New York Life.
• No online quotes: You’ll need to work with a financial professional to get pricing — no self-service quoting available.

Is National Life Group the best company for meeting your specific needs, goals, and objectives?

Maybe, maybe not. The best approach is to compare National Life Group’s offerings with other top-rated life insurance companies to determine which provides the optimal solution for your unique circumstances.

At the end of the day, finding the right company requires an intimate knowledge of the different companies and policies available — and that’s exactly what we help our clients with every day.

Frequently Asked Questions

Is National Life Group a good life insurance company?

Yes. National Life Group holds an A+ (Superior) rating from A.M. Best, has been in business since 1848, and ranks as the second-largest IUL provider in the country. They ranked #7 in J.D. Power’s 2025 customer satisfaction study and were named to Forbes’ Best Insurance Companies list for 2024 and 2025.

What type of life insurance does National Life Group offer?

National Life Group offers term life insurance (10, 15, 20, and 30-year options), whole life insurance (TotalSecure), universal life (BasicSecure), and three indexed universal life products (FlexLife, PeakLife, and SummitLife), plus the new RapidProtect instant-decision IUL.

Does National Life Group require a medical exam?

Not always. Their EZ Underwriting program allows qualified applicants ages 18-65 to get up to $3 million in permanent coverage or $2 million in term coverage without a medical exam. The new RapidProtect IUL offers instant decisions with no medical tests for coverage up to $500,000.

Does National Life Group pay dividends?

Yes. As a mutual company, National Life Group pays dividends to eligible participating whole life policyholders. They’ve approved $23 million in dividends for 2026 and have maintained an unbroken dividend payment record since 1855. Dividends are not guaranteed and may vary year to year.

Is National Life Group direct recognition or non-direct recognition?

National Life Group practices direct recognition. This means when you take out a policy loan, the company may adjust the dividend credited on the portion of cash value being used as loan collateral. This is an important consideration if policy loans are central to your strategy.

What is National Life Group’s best life insurance product?

It depends on your goals. For guaranteed cash value growth and dividends, TotalSecure whole life is their flagship product — ranked #2 by the Wall Street Journal. For higher growth potential with downside protection, their IUL lineup (FlexLife, PeakLife, or SummitLife) offers flexibility. For quick, accessible coverage, RapidProtect provides instant decisions. The best way to determine which product fits your situation is to request a personalized comparison.

How does National Life Group compare to other whole life insurance companies?

National Life Group competes well on financial strength, product innovation, and living benefits. For a head-to-head comparison, see our guides on the best dividend-paying whole life companies and best infinite banking companies.