Ohio National reduces term life insurance premiums

Ohio National reduces term life insurance premiums

October 4, 2021

Repricing makes Ohio National term life insurance even more affordable for individuals and businesses

Repricing follows extensive pricing analysis aimed at enhancing the value of Ohio National term life products

New term life rates place Ohio National among the five lowest-priced carriers a strong majority of the time

Ohio National is pleased to announce new pricing for its term life insurance, resulting in lower premiums across the product range.

Term life insurance, which provides coverage for 10, 15 or 20 years, is often an affordable option for individuals looking for coverage when their financial responsibilities are greatest. The revamped pricing makes it even easier for individuals, families and businesses to get the coverage they need. 

“We went back to the drawing board to get our term life premiums down,” said Karl Kreunen, vice president of product marketing. “Our team took a deep dive into many different pricing scenarios — across ages, risk classes, coverage amounts and other factors that influence cost. We were able to reduce our rates significantly for many potential clients.”

As a result of the repricing, Ohio National’s Term Basic coverage, which provides a permanent convertibility option, now ranks among the five lowest-priced products of its kind 70 percent of the time. The company’s Term Plus product, which gives customers the option of converting to Ohio National’s full array of permanent policies, is among the five lowest-priced fully convertible term policies 60 percent of the time.1

The new rates are currently in effect for new term life policies issued by the company. Ohio National products are offered through independent financial professionals in all states except NY.

Guarantees are based on the claims-paying ability of the issuer. Term products are convertible to the end of the level term period or to the policy anniversary date nearest the insured's 70th birthday, whichever occurs first. Conversion options vary by term product.

1 Compulife, August 30, 2021  

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, 2020, its affiliated companies have $41.2 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 Gender Equity by Queen City Certified. Please explore ohionational.com for more information and for the latest company updates, connect with Ohio National on LinkedIn, Facebook and YouTube.