Ohio National: Life Insurance Options In New York

The Ohio National Life Insurance Company is a mutual insurance company headquartered in Cincinnati, Ohio. The company offers life insurance, annuities, disability insurance, group retirement plans, and investment products. It sells products in all fifty states, the District of Columbia, and Puerto Rico. However, Ohio National does not sell life insurance in New York state. The company has a strong financial position and has been consistently ranked highly for its financial stability and customer satisfaction.

Ohio National Life Insurance Company sells life insurance in 49 states, excluding New York

The Ohio National Life Insurance Company is a mutual insurance company headquartered in Cincinnati, Ohio. It offers life insurance, annuities, disability insurance, group retirement plans, and investment products. The company sells its products in 49 states, excluding New York, as well as in the District of Columbia and Puerto Rico.

Ohio National has a strong presence across the United States, with over 1,000 associates and a history dating back to 1909. The company consistently provides dividends to qualifying policyholders and has received very few complaints about its products or services. It is also recognised for its commitment to the community, having donated over $22 million to nonprofit organisations through its foundation.

The company's products include term, universal, and dividend-paying whole life insurance policies. To obtain coverage, individuals must undergo a medical exam and apply through an agent. While Ohio National offers a wide range of life insurance options, it does not provide coverage in New York State.

Ohio National's parent company, Ohio National Mutual Holdings, Inc., has $41 billion in assets under management. The company's financial strength is rated highly by Standard & Poor's, A.M. Best, and Moody's, with ratings of A, A+, and A1 respectively.

In summary, Ohio National Life Insurance Company is a well-established and reputable provider of life insurance and other financial services, serving almost all states across the country, with the exception of New York.

Ohio National Mutual Holdings, Inc. is the parent company of Ohio National

Ohio National Mutual Holdings, Inc. is the parent company of The Ohio National Life Insurance Company, which was founded in 1909 and is headquartered in Cincinnati, Ohio. The company offers a range of insurance products, including life insurance, annuities, disability insurance, group retirement plans, and investment products.

Ohio National Mutual Holdings, Inc. has a number of subsidiary companies under its umbrella, including Ohio National Life Assurance Corporation, Ohio National Equities, Inc., The O.N. Equity Sales Company, and Ohio National Investments, Inc. These companies operate together as the Ohio National group, which sells its products across the United States, including in New York.

The Ohio National Life Insurance Company has a strong financial position and has consistently paid dividends to its policyholders. It has received high ratings from credit rating agencies such as Standard & Poor’s, A.M. Best, and Moody’s. The company's financial strength and stability have been recognised by these agencies, with high scores given for its ability to meet financial obligations.

In 2021, Ohio National Mutual Holdings, Inc. initiated a strategic transaction with Constellation Insurance Holdings, Inc., a Canadian insurance holding company. This transaction involved the demutualization of Ohio National Mutual Holdings, Inc., converting it from a mutual insurance holding company to a stock company owned by Constellation. This move was expected to strengthen Ohio National's financial position and market presence, allowing it to better respond to the changing landscape of the financial services industry.

Ohio National Mutual Holdings, Inc. and its subsidiaries continue to focus on providing a wide range of insurance products and services to their customers, with a commitment to financial security and independence.

Ohio National offers a range of insurance policies, including term, universal, and whole life insurance

Term life insurance from Ohio National provides temporary coverage for a fixed amount of money to beneficiaries if the insured dies within the term. The premium stays the same each year and does not accumulate cash value. Ohio National offers two term policies for 10, 15, or 20 years, with the option to convert to a permanent policy during the term.

Universal life insurance is a type of permanent coverage that offers flexibility. Policyholders can adjust premiums, choose an increasing death benefit, and access the cash value more easily. Ohio National offers UL policies to meet different needs, including cash value growth and affordability.

Whole life insurance provides permanent coverage with a specified premium. It incorporates a cash value account to offset the cost of insurance as the insured ages. Ohio National offers participating whole life policies, which make policyholders eligible for annual dividends. The company has paid dividends every year for over 90 years. Ohio National offers several whole life iterations to meet different needs, such as affordable premiums or shorter premium payment periods.

Ohio National's range of insurance products provides customers with options to suit their specific needs. The company's commitment to customer satisfaction and financial stability has earned it high ratings from organizations like AM Best and the Better Business Bureau (BBB).

The company has a strong financial position and high customer satisfaction

The Ohio National Life Insurance Company is a mutual insurance company headquartered in Cincinnati, Ohio, with a strong financial position and high customer satisfaction. The company has a long history of financial stability and has been in business for over a century. It offers a wide range of insurance products, including life insurance, annuities, disability insurance, group retirement plans, and investment products, and is well-respected by its customers and insurance agents.

Ohio National has a strong financial position, with $40.8 billion in total assets under management as of December 31, 2021. The company has consistently provided dividends to qualifying policyholders and has received high financial strength ratings from reputable agencies such as Standard & Poor's, A.M. Best, and Moody's. In 2018, it was ranked #126 on the Forbes list of America's Best Midsize Employers, reflecting its strong financial position and positive work culture.

The company has also earned high ratings from third-party evaluators, such as the Better Business Bureau (BBB), which gave it an A+ rating. This accreditation indicates that Ohio National has signed a commitment to respond to any complaints made to the BBB about its service. Additionally, AM Best, one of the key rating agencies for life insurance companies, assigned Ohio National an A (Excellent) rating, indicating their confidence in the company's ability to meet its financial obligations.

Ohio National also boasts high customer satisfaction, with very few customer complaints relative to its market share. The company offers clear policy agreements, an easy-to-understand website, and a large variety of life insurance policies to meet diverse customer needs. Their customers value their historical performance, and the company has paid cash dividends to policyholders annually for almost 100 years. This consistent ability to pay dividends adds potential value to their life insurance policies.

Overall, Ohio National's strong financial position and high customer satisfaction make it a solid choice for those seeking life insurance. Their commitment to meeting their financial obligations and providing quality service to their customers has earned them a positive reputation in the industry.

Ohio National was acquired by Constellation Insurance Holdings, Inc

On March 23, 2021, Constellation Insurance Holdings, Inc. (Constellation) announced it had entered into an agreement to acquire Ohio National Mutual Holdings, Inc. (ONMH) and its wholly owned subsidiary Ohio National Financial Services, Inc. (ONH). The acquisition was completed on March 31, 2022, following approval by member vote on March 11, 2022.

The total consideration for the acquisition was US$1 billion, including both member consideration and new capital infused into the business as part of its demutualization process. As part of the transaction, Constellation committed to contributing $500 million of capital into Ohio National Life Insurance Company over a four-year period, strengthening Ohio National's capital position and ability to fulfil its obligations. This capital infusion also allows Ohio National to invest in organic and inorganic growth opportunities.

Ohio National, established in 1909, is a leading provider of financial products and services, including life insurance, annuities, disability insurance, group retirement plans, and investment products. It has a network of financial professionals operating across 49 states (all except New York), the District of Columbia, Puerto Rico, and South America. As of December 31, 2020, its affiliated companies had US$41.2 billion in assets under management.

Constellation Insurance Holdings, Inc. is an insurance holding company targeting acquisitions of life and property and casualty (P&C) insurers based in North America. Constellation's founding investors and equal partners, Caisse de dépôt et placement du Québec (CDPQ) and Ontario Teachers' Pension Plan Board (Ontario Teachers'), are two of the largest long-term institutional investors in North America, managing a total of over CA$500 billion in net assets.

Frequently asked questions