Ohio National Life Insurance Review

Dividend-paying whole life insurance options and term policies up to 20 years

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Ohio National Financial Services

Ohio National Financial Services

overall rating

Our Take

Ohio National Life Insurance Company provides both term policies with conversion options and permanent policies with living benefits options. The company also has a history of paying dividends to eligible policyholders. However, Ohio National Life Insurance Company lacks online tools and online policy details are vague. You may need to get more information from an agent to decide if the insurer is right for you. 

  • Pros and Cons
  • Key Takeaways
  • Specifications
Pros and Cons
  • A (Excellent) financial strength rating with AM Best

  • Few complaints with the NAIC

  • Living benefits riders available on permanent policies

  • Term life insurance with conversion options

  • No online quotes

  • No term riders

  • Customer support only available during business hours

  • Customer service reviews are difficult to find

Key Takeaways
  • Ohio National Life Insurance Company offers term, whole, and universal life policies, and you can customize your policy with riders. 
  • Ohio National Life Insurance Company has been in business for more than a century and paid $100 million in dividends to eligible policyholders in 2020. 
  • Once you’re a policyholder with Ohio National Life Insurance Company, you’ll have access to online bill payment and policy management. However, you can’t get a quote or apply for a policy online—you’ll need to contact an agent by phone. 
  • Year Founded 1909
  • Kinds of Plans Term, whole, universal
  • Number of Plans 8
  • Payment Options Monthly, quarterly, semi-annually, annually
  • Official Website https://www.ohionational.com/sites/public/default/


Ohio National Life Insurance Company provides term, whole, and universal life policies with some unique features such as conversion options and living benefits. We researched Ohio National Life Insurance Company’s website tools, financial strength ratings, customer satisfaction indicators, and plan/rider offerings to help you compare the life insurance policy options that Ohio National Life Insurance Company offers with the competition. 

Company Overview

Ohio National Life Insurance Company, a subsidiary of Ohio National Financial Services, has been in business since 1909 and is headquartered in Cincinnati, Ohio. At the end of 2020, Ohio National’s affiliated companies had a total of $4.2 billion in assets. The company offers life insurance policies in all states except New York, but product offerings vary by state. Ohio National Life Insurance Company represents just under 0.5% of premiums in the life insurance market. 

Ohio National Mutual Holdings, the parent company, was acquired in 2021 by Constellation Insurance Holdings, Inc. The company plans to go through a demutualization process and as a result, current eligible policyholders will receive compensation for extinguishing their membership interests. 

While the company has financial professionals in all 49 states to assist potential customers, you won’t be able to get a quote or apply for a policy online. You’ll need to contact an agent by phone during business hours. 

Available Plans

Ohio National Life Insurance Company offers term, whole, and universal life insurance plans. The company does not state whether a medical exam will be necessary for applicants. 

Depending on the features you want, there are a few plan options in each category. 

Term Life Insurance

Term life insurance is designed to protect your family through a specific period during which you have financial obligations. Ohio National Life Insurance Company’s term life insurance policies come in 10, 15, and 20-year terms. FlexTerm Basic offers the lowest premiums, while FlexTerm Plus has the most conversion options, allowing you to choose any of the company’s permanent policies. More detail about the policies isn’t available online, so you’ll need to speak with an Ohio National financial professional if you have specific questions. 

Ohio National Life Insurance Company’s term policies are not eligible for riders or endorsements. You won’t be able to customize your policy.

Whole Life Insurance

Whole life insurance provides permanent coverage with fixed premiums. The policy accumulates cash value and policyholders are eligible to receive dividends. Ohio National Life Insurance Company doesn’t list policy limits or age requirements online. There are a few options for whole life policies:

  • The Prestige Value IV and Prestige 100 II have the most affordable premiums but the most limited cash value accumulation and dividends payments. To get details on the differences between these two plans, contact an Ohio National financial professional.
  • The Prestige 10 Pay II and the Prestige 20 Pay allow you to make premium payments for 10 or 20 years but keep your coverage permanently. 

Additional details about these plans aren’t available online. You’ll need to speak with a representative for more information.

Universal Life Insurance

Universal life insurance allows you to change your death benefit and premium payment as your needs change. It’s still a permanent policy that builds cash value, but you have more flexibility with your coverage. There are two options for universal life insurance from Ohio National Life Insurance Company:

  • Virtus Indexed Universal Life II gives you the option of a fixed interest account or index account with higher risk and higher potential rewards than Ohio National’s other universal life product. It also comes with two loan options, and living benefits riders can be added. 
  • V-Pro Universal Life Insurance guarantees a minimum return that is lower than what you might potentially achieve with Virtus Indexed Universal Life II, but it's a good option for risk-averse policyholders.

Available Riders

Riders are add-ons that can help you customize your life insurance coverage to meet your family’s unique needs. Ohio National Life Insurance Company doesn’t provide details about all of its available riders online, nor does it specify which riders are available with which policies. 

To fully understand your customization options, you’ll need to contact an Ohio National financial professional. 

Chronic or Terminal Illness Rider

If you are diagnosed with a chronic or terminal illness, you can access a portion of the death benefit ahead of time with this rider. This will reduce the death benefit available to your beneficiaries when you pass. 

Guaranteed Insurability Rider

This endorsement allows you to purchase additional coverage at certain life milestones without needing to answer additional health questions or undergo another medical exam. 

Waiver of Premium Rider

Should you become totally disabled, this rider allows you to halt your premium payments while keeping your policy in force. 

Children’s Term Rider

This rider provides term coverage for all current and future children for one flat fee. This temporary coverage can also later be converted into permanent policies for each child.

Customer Service: Limited Options

Ohio National Life Insurance Company doesn’t provide 24/7 customer support or online chat like some other life insurance companies. If you’re a current policyholder, you can log in to get access to certain services online, including an online contact form. Otherwise, you’ll need to either email lifecs@ohionational.com or call 800-366-6654. Customer service representatives are available weekdays from 8:30 a.m. to 5:00 p.m. ET only. 

Customer Satisfaction: Very Few Complaints

Ohio National Life Insurance Company isn’t rated in J.D. Power’s 2020 U.S. Life Insurance Study, and customer service reviews are few and far between on third-party websites. But given the company’s size, Ohio National Life Insurance Company had much fewer complaints with the NAIC, a regulatory organization, than expected. 

The company only had three complaints in 2020 and eight in 2019. The insurer’s complaint index for 2020 was just 0.19; anything below 1 indicates above-average customer satisfaction for the insurance industry. 

Financial Strength: A (Excellent)

AM Best, an independent rating agency focused on the insurance industry, gave Ohio National Life Insurance Company an A (Excellent) rating for financial strength, which indicates the company is stable enough to pay claims to its policyholders. While this isn’t the highest available rating, it should make you feel confident that Ohio National is a reputable provider when it comes to financial stability. 

Ohio National Life Insurance Company also expects that its recent acquisition by Constellation Insurance Holdings, Inc. will strengthen its financial standing. 

Cancellation Policy: 10 Days

All insurance companies must provide at least a 10-day free-look period or longer in some states, which means that you can cancel any life insurance product within 10 days of issuance and receive your paid premiums returned. If you cancel after 10 days, your refund will depend on the type of policy you have and where you live. Typically, you can receive refunded premiums from a permanent policy if you pay a surrender fee for the cash value, but paid premiums on term policies will not be returned. 

Price of Ohio National Life Insurance: Unknown

Ohio National doesn’t offer online quotes or pricing estimates; you’ll need to contact an agent to get a quote. Your individual premium will be based on several factors, including your age, gender, smoking status, family health history, and even your occupation and hobbies. You may also be required to take a medical exam, and the results may impact your rate. 

Ohio National Life Insurance might not provide the most cost-effective policy option, and the agent might try to persuade you to purchase more coverage than you need. Make sure you shop around for the lowest rate.

How Ohio National Life Insurance Company Compares to Other Life Insurance

Ohio National Life Insurance Company offers permanent policies that pay dividends, and not all life insurance providers do. However, it lacks the online tools and robust customer support of other companies. If you’re looking for a permanent life insurance policy, Ohio National could be an option, but you should shop around for quotes from other providers before making your decision.

Here’s how Ohio National Life Insurance Company compares to another life insurance provider with similar product offerings. 

Ohio National Life Insurance vs. Northwestern Mutual Insurance 

Ohio National Life Insurance Company and Northwestern Mutual Life Insurance both have a strong history of paying dividends to eligible policyholders and offer permanent policies with customization options and term coverage with conversion options. Neither company offers online quotes, and information about riders from both companies is vague. Furthermore, both companies had few complaints with the NAIC. However, there are a few key differences between these insurers:

  • Northwestern Mutual has an A++ financial strength rating from AM Best, while Ohio National received an A rating from AM Best. 
  • Northwestern Mutual was ranked fourth in J.D. Power’s 2020 U.S. Life Insurance Study, while Ohio National was not ranked.
  • Northwestern Mutual is a larger company, has been in business for longer, and offers investment and retirement planning services in addition to its life insurance products.
  Ohio National Life Insurance Company Northwestern Mutual
AM Best Rating A (Excellent) A++ (Superior)
J.D. Power Rank  Not Rated  Fourth 
Market Share  <0.5%  8.2% 
Years in Business  112  164 

While both companies have strong policy offerings and are similar in many ways, Northwestern Mutual wins for its high financial strength and customer satisfaction ratings. 

Read our full Northwestern Mutual Life Insurance review.

Final Verdict

If you’re looking for a whole or universal life insurance policy with the opportunity to earn dividends, you may want to get a quote from Ohio National Life Insurance Company. Although it isn't ranked by J.D. Power, you can trust that the company is financially stable, and the few complaints with the NAIC indicate good customer satisfaction as well. 

If you find that a policy from Ohio National Life Insurance Company is most affordable, it could be the right choice. However, people seeking term quotes online or coverage without a medical exam will need to look elsewhere. Those looking to customize a term policy with riders will also need to find another company.


All of our reviews of life insurance companies are based on extensive research and analysis of each company’s offerings, customer service, financial stability, cost, and more. For each company, we compared the life insurance products offered, as well as available features, and reported customer experiences. Visit our life insurance review methodology for the full breakdown of what we evaluated for over two dozen companies.