Industry’s first indexed whole life insurance product combines guaranteed protection with significant growth potential

Industry’s first indexed whole life insurance product combines guaranteed protection with significant growth potential

06 September 2022

Groundbreaking product only available from Ohio National

Indexed whole life insurance offers the stability and guarantees of traditional whole life — but with index-based growth opportunities

New product ideal for consumers looking for protection and asset growth through market-based returns with accompanying downside protection. 

In the life insurance industry, something totally new comes along only once in a great while. Game changers are rare, and this is one of them. Ohio National Financial Services, Inc. proudly announces the first and only indexed whole life insurance product, providing what no other life policy can: guaranteed protection, stability and index-based growth potential.

Indexed whole life from Ohio National provides a lifelong death benefit and cash accumulation guarantee, along with fixed premiums regardless of changes in health. These features have served generations of policyholders in the company’s traditional whole life products. With new indexed whole life, customers can get similar guarantees — plus the opportunity to grow cash value in relation to stock market indexes such as the S&P 500® and Russell 2000®. Indexed-based allocation options offer significant growth potential, but because funds are not invested directly in the market, there is no risk of loss due solely to market performance.

The cash value can be accessed during the insured’s lifetime, generally on a tax-preferred basis, for almost any purpose, from supplementing retirement income to starting a business.

“Our new indexed whole life product is an important breakthrough for Ohio National and the financial professionals who sell our products,” said Karl Kreunen, vice president of product marketing. “We’re thrilled to offer them a unique tool to help their clients reach their financial goals.”

“This product is something financial professionals can’t find anywhere else,” added Pat McEvoy, senior vice president of life distribution and sales. “We’re passionate about helping them develop client relationships and build their businesses with the addition of indexed whole life to their portfolios.”

Ohio National’s debut indexed whole life product, Prestige Indexed 10 Pay, features 10 years of fixed premium payments and is currently available through independent financial professionals in all states except CA and NY. Product marketing information for financial professionals is available at

Indexed whole life insurance is issued by Ohio National Life Assurance Corporation. Guarantees are based upon the claims-paying ability of the issuer. Policy, policy features and rider availability vary by state. Issuer not licensed to conduct business in NY. Indexed whole life insurance not available in CA. 

The indexed whole life policy offers several index-linked interest options. Interest is calculated based on the movement of market indexes, subject to applicable caps, spreads and participation rates. The cash value of the policy may still decline due to the deduction of cost of insurance and expense charges.

Cash value may be accessed on a tax-preferred basis through policy loans and withdrawals. If policy loans are taken and the policy lapses, a taxable event may occur. Withdrawals (partial surrenders) and loans from life insurance policies classified as modified endowment contracts may be subject to tax at the time the withdrawal or loan is taken and, if taken prior to age 59½, a 10% federal tax penalty may apply. Withdrawals and loans reduce the death benefit and cash surrender value.

The S&P 500® Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Ohio National Life Assurance Corporation. Standard & Poor’s® , S&P® and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Ohio National Life Assurance Corporation.

Ohio National Life Assurance Corporation‘s Prestige indexed whole life insurance is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500® Index.

Russell 2000® Index is an equity index that measures the performance of the 2,000 smallest companies in the Russell 3000® Index, which is made up of 3,000 of the biggest U.S. stocks. The Russell 2000® is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not affect the performance and characteristics of the true small-cap index.

The Russell 2000® is a trademark of Russell Investments and has been licensed for use by Ohio National Life Assurance Corporation. The product is not sponsored, endorsed, sold or promoted by Russell Investments and Russell Investments makes no representation regarding the advisability of investing in the product.

About Ohio National

Since 1909, Ohio National has been committed to helping individuals, families and businesses protect what matters most. Through our network of financial professionals across 49 states (all except New York), the District of Columbia and Puerto Rico and through affiliated operations in South America, we provide the insurance products that help our policyholders achieve financial security and independence. As of December 31, 2021, its affiliated companies have $40.8 billion total assets under management. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Recognized as a Leader in Workplace Equity by Ellequate. Please explore for more information and for the latest company updates, connect with Ohio National on LinkedIn, Facebook and YouTube.

Media Contacts

John Diether