National Life Group At a Glance: Rates, Products and Reviews
Since 1848, National Life Group has provided individuals and families with products that offer peace of mind. They offer various annuities and life insurance options, including unique perks like free riders, rate boosters and no-penalty withdrawals.
- Written by Anna Baluch
- Edited By
Michael Santiago, CRPC™
Michael Santiago, CRPC™
Senior Financial Editor
Michael Santiago, a senior financial editor, joined RetireGuide in 2023. With over 10 years of professional writing and editing experience, he brings a wealth of expertise in creating content for diverse industries, including travel and healthcare. Having traveled to more than 40 countries across five continents and lived in Europe and Asia for several years, Michael's global perspective enriches his work. He combines his strong writing skills, editorial judgment and passion for crafting accurate and engrossing content to enhance the user experience on RetireGuide.
Read More- Published: December 19, 2024
- Updated: January 2, 2025
- 6 min read time
- This page features 6 Cited Research Articles
- Noteworthy Stability: National Life Group has served customers throughout the U.S. for more than 175 years.
- No Cost Riders: Riders such as the nursing home rider or terminal illness rider are free of charge with some products and increase their overall value.
- Flexible Payouts: Payout options include full withdrawals, partial withdrawals or the chance to convert your annuity to periodic income.
Company Overview
Founded in 1848 and headquartered in Montpelier, Vermont, National Life Group strives to support individuals and families through the happy and difficult times. The company aims to “ bring you peace of mind.” Also known as National Life Insurance Company, National Life Group sells a variety of products, including annuities and life insurance to customers in all 50 states and the District of Columbia. The company currently has over 1,800 employees and manages $47 billion in assets.
Annuities and Insurance Products Offered by National Life Group
National Life Group specializes in many types of annuity and life insurance products. Here’s an overview of what you can expect from each one.
Single Premium Deferred Annuities
Single premium deferred annuities are tax-deferred index annuities that require one, lump sum payment. You can choose from the following options, all of which allow you to grow your account through a fixed rate or market-based growth.
- Growth Driver 10
- With Growth Driver 10, you’ll receive a 10% premium bonus and be able to jumpstart your retirement savings right away.
- Income Driver
- Income Driver offers guaranteed lifetime income and protects you from market loss.
- Zenith Growth
- Zenith Growth provides steady income and allows you to accumulate value, maximizing your growth potential.
- Zenith Income
- Zenith Income focuses on predictable retirement income and comes with a number of bonus options, including an activation bonus of up to 200%.
Flexible Premium Deferred Annuities
Flexible premium deferred annuities can be funded through several options during the accumulation phase. You may make payments through salary reductions, transfers, rollovers, lump sum direct payments or pre-authorized checks.
- FIT Secure Growth
- FIT Secure Growth helps increase your retirement savings using an indexing approach that depends on index performance, such as the S&P 500.
- FIT Secure Income
- FIT Secure Income protects your retirement income with a guaranteed income rider.
Multi-Year Guaranteed Annuities
Multi-year guaranteed annuities (MYGAs) guarantee a set interest rate for a specific period of time, such as three or five years, for example.
- Retiremax Secure
- Retiremax Secure requires a $25,000 minimum premium but offers a higher interest rate on any amount that exceeds $100,000.
- Green Mountain Freedom 5
- Only available in New York, Green Mountain Freedom 5 provides benefits based on the accumulation value or cash value of your annuity.
Learn More About Your Annuity Options
*Ad: Clicking will take you to our partner Annuity.org.
Life Insurance Options
National Life Group offers a variety of life insurance products, all of which are designed to protect your loved ones financially in the event you unexpectedly pass away. Its lineup of offerings include whole life insurance, universal life insurance, index universal life insurance and term life insurance. While whole life insurance might make sense if a lifetime death benefit is your top priority, term life insurance is a more affordable option that offers a death benefit for a set period of time.
Features and Benefits
While each product comes with its own features and benefits, here are a few noteworthy perks you may enjoy if you choose National Life Group:
- No Cost Withdrawals
- You may be able to withdraw up to 10% of your accumulation value without facing a withdrawal charge in year two of your annuity.
- Complimentary Riders
- Some annuities include riders for terminal illnesses, nursing care and more at no additional cost. These riders add significant value to the products.
- Rate Boosters
- With a rate booster, you can increase your interest rate and maximize your earnings on select annuities.
- Flexible Payout Options
- You may make full withdrawals, partial withdrawals or convert your annuity to periodic income.
Fees and Charges
National Life Group does charge a number of fees. However, fees vary by product so it’s a good idea to carefully read your contract before you sign on the dotted line. Excessive fees can have a negative impact on your retirement income so do the math and make sure your investment makes financial sense. Fortunately, most products do not come with administrative fees but you may face a withdrawal charge if you withdraw funds from an annuity early on.
Financial Strength and Stability
National Life Group demonstrates exceptional financial strength and stability, backed by strong credit ratings and over 175 years of successful business operations.
Credit Ratings
When it comes to credit ratings, which show a company’s financial strength and stability, National Life Group excels. Here’s a look at its ratings from reputable third-party companies.
| Rating Company | Credit Rating |
|---|---|
| AM Best | A+ (Superior) |
| S&P | A+ (Strong) |
| Moody’s | A1 (Good) |
Company Stability
National Life Group has been in business for more than 175 years. According to the 2023 annual report, the company has sold $530 million in life insurance products and $2.7 billion in Single Premium Deferred Annuities. It also manages $47 billion in assets and has earned $471 million. It’s important to note that each of National Life’s affiliates is responsible for fulfilling its own obligations.
*Ad: Clicking will take you to our partner Annuity.org.
Customer Experience and Satisfaction
The National Association of Insurance Commissioners’ (NAIC) Complaint Index measures client satisfaction in the insurance and annuity industries through a yearly report on all companies. The figures below show that National Life receives less complaints than the industry average for all types of insurance policies and individual annuities.
| Complaint Score | |
| All Policy Types | 0.26 |
| Individual Annuities | 0.00 |
In J.D. Power’s 2024 U.S. Individual Life Insurance Study, National Life Group scored 641 out of 1,000. This is an average score but falls below other well-known insurers, such as Guardian Life, Pacific Life and MetLife.
Evaluating National Life Group Products
To determine if National Group is a good fit for your unique situation and retirement goals, be sure to compare all of its products to alternative options from other annuity providers. You may also want to consult a financial advisor who can steer you toward the right direction and potentially educate you on annuities and life insurance products you might not find on your own.
Editor Norah Layne contributed to this article.
Connect With a Financial Advisor Instantly
Our free tool can help you find an advisor who serves your needs. Get matched with a financial advisor who fits your unique criteria. Once you’ve been matched, consult for free with no obligation.
- Published in AP News, Credit Karma, Fox Business, U.S. Chamber, Point.com, Newsweek, Insurify and Forbes
- Over a decade of professional writing experience in finance
- MBA with a focus on marketing from Roosevelt University
6 Cited Research Articles
- J.D. Power (2024, October 10). J.D. Power 2024 U.S. Individual Life Insurance Study. Retrieved from https://www.jdpower.com/sites/default/files/file/
- NAIC. (2024). Consumer Insurance Search Results. Retrieved from https://content.naic.org/cis_consumer_information.htm
- National Life Group. (n.d.). Life Insurance. Retrieved from https://www.nationallife.com/Individuals-Families-Life-Insurance
- National Life Group. (n.d.). Annuities. Retrieved from https://www.nationallife.com/Individuals-Families-Annuities
- National Life Group. (n.d.). National Life Group Releases 2023 Annual Report. Retrieved from https://www.nationallife.com/Our-Story/newsroom/National-Life-Group-Releases-2023-Annual-Report
- National Life Group. (n.d.). Ratings in Perspective. Retrieved from https://www.nationallife.com/Non-Newsroom-Contents/RATINGS-IN-PERSPECTIVE
Calling this number connects you to one of our trusted partners.
If you're interested in help navigating your options, a representative will provide you with a free, no-obligation consultation.
Our partners are committed to excellent customer service. They can match you with a qualified professional for your unique objectives.
We/Our Partners do not offer every plan available in your area. Any information provided is limited to those plans offered in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.
844-359-1705