Washington National Logo

Washington National

Is This Your Business?
star star_half star_border star_border star_border

3.9

Overall Score

LAST UPDATED: May 3rd, 2022

Washington National Insurance Company has been in business since 1911 and is based in Carmel, Indiana. The company has four core values, including integrity, customer focus, excellence, and teamwork. 

Customers of Washington National are assisted by insurance agents. Washington National's main aim is to help middle-income Americans. The insurance company received high financial strength ratings from A.M. Best and has billions in invested assets. Its long history as an insurance carrier and high financial strength ratings mean that policyholders can be confident in Washington National's ability to meet claims obligations.

Washington National carries term, whole, and universal life insurance. It also offers additional kinds of insurance, like health insurance, and helps business owners with their employee benefits packages.

View Washington National Reviews

Washington National works to help families stay financially stable while dealing with the costs of illnesses, deaths, and accidents by offering life insurance coverage.

Top Ranked Companies

thumb_up

The Good

  • Thorough Coverage
  • Universal Life
  • Whole Life
  • Health Insurance and Workplace Benefits

Thorough Coverage

When looking for a Washington National life insurance policy, people can choose between universal life insurance and whole life insurance products. Each kind of insurance policy has its own advantages. With these options customers can find the kind of permanent insurance coverage they need.

Universal Life

One can never predict what is going to happen in life, and this policy is ideal for protecting against unexpected emergencies. Universal life policies provide coverage that lasts a lifetime as long as the monthly insurance premium is paid. With this plan, people can:

  • Modify premium prices to fit with one's circumstances
  • Save money with cash value accumulation, that goes toward a tax-free death benefit
  • Access the accumulated cash through "living benefits"
  • Increase the cash value through the S&P 500 index option

Universal life insurance policies have a little more flexibility in insurance premiums and coverage levels. While this feature is advantageous in some situations, you could risk losing the policy if the premium rates are higher than you can pay. Be sure to understand how premium rates change over time with this insurance plan before making a final purchase.

If you decide to access you cash value early, keep in mind that the death benefit will be reduced until you pay the loan back.

Whole Life

Whole Life insurance is an option that offers lifetime protection as long as the policyholder pays the premiums. People like this policy because it helps with the costs of one's final expenses and coverage lasts a lifetime. 

Like a universal life insurance policy, whole life policies accrue cash value over time. The cash value accrual is not affected by fluctuations in the stock market. This stability is a major benefit of choosing a whole life policy. The cash value accrues at a guaranteed minimum rate by the insurance provider.

The policyholder can access the cash value while living for loans or use their policy as an asset. However, if you have an outstanding loan from your cash value, when the insured passes away, the death benefit is reduced by the outstanding balance.

The premiums for whole life insurance policies are not as flexible as rates for universal life insurance policies. Instead, they remain consistent.

However, it should be noted that whole life insurance policies are usually the most expensive across the life insurance industry.

Health Insurance and Workplace Benefits

Washington National also offers services and products in addition to life insurance. Consumers can also purchase supplemental health insurance, including: 

  • Cancer insurance
  • Accident insurance 
  • Critical illness insurance
  • Heart and stroke insurance 
  • Hospital insurance

These supplemental insurance plans provide additional coverage for specific situations, which is nice to have for these kinds of expensive needs. For workplace benefits, people can choose to buy accident and disability insurance, cancer and critical illness insurance, and hospitalization and ICU insurance , as well as life insurance.

thumb_down

The Bad

  • No Term Life Insurance
  • No Quotes Online
  • Policy Offerings May Not Be Available Everywhere
  • No Online Chat Option

No Term Life Insurance

Washington National's coverage options do not include term life insurance policies. If you only want to buy coverage for a set period of time, you'll need to consider another insurer.

No Quotes Online

Finding a Washington National quote is extremely inconvenient. The website does not offer any pricing information or quotes online. However, because life insurance premiums depend on demographic information and health history, there is some variability. This variability makes it difficult to offer accurate quotes. Some life insurers and quote agencies do offer online estimates., but working directly with a life insurance agent is the best way to understand both the value offered and cost of an insurance policy.

Those interested in a life policy from Washington National should contact an insurance agent or request to be contacted. Once they have done that, the insurance agent will contact them, and they can ask for more details about coverage and payment.

Policy Offerings May Not Be Available Everywhere

While Washington National offers some great options for life insurance policies, these options may not be available in every state. Some life insurance policies have the option to add a rider that offers additional coverage. Contact a Washington National insurance agent to learn more specific information about what plans and riders are available to you.

No Online Chat Option

The contact options on the website are basic. Washington National does not offer an email address for general information, and they do not offer an online chat option.

An online chat option would be especially helpful with this company since they only offer specific policy information through contacting a representative. This factor would be a lot more convenient if customers could simply online chat a representative their question.

gavel

The Bottom Line

While it would be nice to have more information about its life insurance products and their cost online, Washington National has some good policies available. Interested individuals should consider customer reviews and reach out to the life insurance company to learn more information about available options.

View Best Life Insurance Companies

Was this content helpful?
thumb_up Yes thumb_down No

Star Rating

1.5

star star_half star_border star_border star_border

26 Reviews

Review Breakdown

5 grade

8%

4 grade

4%

3 grade

4%

2 grade

0%

1 grade

85%

Sentiment Criteria

Value

star star star_border star_border star_border

Quality

star star star_border star_border star_border

Service

star star star_border star_border star_border

Trustworthiness

star star star_border star_border star_border
We couldn't find any matches for your request. Click here to try again.