The ABCs of National Income Life Insurance Company
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Written by
Chris Huntley
Founder of Huntley Wealth & Insurance Services
Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states.
After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insu…
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Reviewed by
Rachael Brennan
Licensed Insurance Agent
UPDATED: Mar 17, 2022
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Here’s the Scoop
National Income Life provides life insurance, accident insurance, and supplemental health insurance primarily to union members and their families
The company has earned an A+ (Superior) Financial Strength Rating from A.M. Best
The only way to obtain a quote or purchase a policy is via an independent agent
About National Income Life Insurance Company
National Income Life Insurance Company (NILICO) sells in-home life insurance to union members and working families. Company headquarters are located in Syracuse, New York.
NILICO specializes in providing supplemental life insurance for consumers who are licensed professionals or belong to labor unions, credit unions, associations, fraternal organizations, sporting organizations, and non-profit organizations.
NILICO’s parent company, American Income Life (AIL), is a wholly-owned subsidiary of Globe Life Inc., a publicly-traded company that markets life and supplemental health insurance to middle-income families through its partner carriers.
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National Income Life Insurance Products
The NILICO product line includes life insurance as well as accident and supplemental health insurance. These policies are available for individuals, families, and single parents. Unfortunately, there is little online information about these policies. Interested customers are advised to reach out to an independent agent for more details.
Life Insurance
Life insurance offered by NILICO is divided into three categories: whole life, term life, and children’s life insurance. As is the case with most insurance policies, life insurance type and coverage will depend on your age, income, and other factors. The company also offers terminal illness riders that can be added to a life insurance policy at no additional charge.
The following is some information regarding NILICO’s life insurance products:
Whole Life Insurance
This coverage lasts your entire life
During your ownership of a whole life policy, premiums do not increase
Increases cash and loan values
Term Life Insurance
Coverage is limited to a specific period
Policyholders typically pay higher premiums to continue coverage after that period
Less expensive than whole life insurance
Children’s Life Insurance
NILICO’s children’s life insurance program (also called Head Start) targets children of working families. Similar to NILICO’s adult life insurance policy, their Head Start program also provides coverage in the event of death.
For adults, policyholders are insured persons — those who are protected by the policy. On the other hand, children’s life insurance covers the child, but the policyholder can be a parent, grandparent, or legal guardian.
The following are some details about NILICO’s Head Start children’s life Insurance:
Initial coverage of up to $25,000
As long as premiums are paid, the policy will remain in force, and benefits won’t be reduced, regardless of the child’s health
A future option to purchase coverage up to $150,000
Each age-related increase is based on a standard rate, regardless of health
Accident and Supplemental Health Insurance
NILICO’s A71025 Accident policy supplements existing insurance coverage by paying cash benefits in the event of accidental injuries. It’s a basic accident policy.
NILICO helps you pay any expenses incurred due to an accident or illness, from uncovered medical expenses to household bills. There are no “primary” or “secondary” policies, and NILICO’s A71025 Accident policy is guaranteed renewable as long as premiums are paid on time.
An accidental injury benefit is payable if the treatment is received within 72 hours at a qualified institution as defined by the policy.
No-Cost Products
The Child Safe Kit from NILICO consolidates all pertinent information about missing children into a single place, accessible at any time. In the unfortunate event that children go missing, authorities can use this to help identify the child and locate their whereabouts.
The kit is a physical document that parents/caretakers can fill out with important information such as:
The child’s name, birthday, address, photograph
The child’s blood type, medication, allergies
The child’s physical descriptions, including birthmarks or other identifying features
The child’s DNA sample
The child’s fingerprint strip
The parent’s/caretaker’s name and contact information
The kit is intended for parents, guardians, grandparents, schools, and childcare professionals. NILICO’s Child Safe Kit is endorsed by the American Federation of Teachers, the American Federation of School Administrators, and the International Union of Police Associations.
National Income Life Insurance Company Reviews
NILICO has received its fair share of criticism regarding how it presents itself to potential customers. The company positions itself in pitches as an entity that helps fund union members and looks out for their families. Consequently, NILICO often refers to its benefits as “free no-cost benefits” or “free union benefits,” which can be confusing for potential customers. There is nothing free about NILICO’s offerings.
The bottom line is that NILICO is still an insurance company that wants to sell its products to union members and their families. This is something to consider before being swayed by their agents and creative marketing.
A local, independent agent is your only route to purchasing a policy or examining coverage options. Additionally, they earn commissions by recruiting new agents. The result is that NILICO has acquired the reputation of being somewhat of a multi-level marketing (MLM) scheme.
However, from what we’ve seen, NILICO is a legitimate and reputable company with high ratings from industry regulators. Its hierarchy-based sales structure is customary to the insurance sales business.
Complaint Index
There may be several reasons for customers to be dissatisfied with their insurer, but what matters most to consumers is the frequency of complaints received by the insurer. The NAIC’s Complaint Index can be useful in cases like this. A carrier’s complaint index indicates the number of complaints it received that year in relation to its size.
Adjusted for market share, the industry average is 1.00. A company with a complaint index below 1.00 has received fewer consumer complaints than expected. A company with a complaint index above 1.00 has received more complaints than expected.
The Complaint Index for National Income Life in 2021 was 0.46, or about half the national average. This means that NILICO policyholders are only 46% as likely to file a complaint as compared with those of another insurer.
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National Income Life Insurance Claim Process
In the event of submitting a life insurance claim, NILICO requires a completed Proof Of Death Claimant Statement form (provided to you), along with the death certificate including cause and manner of death, the obituary (if available), and any other supporting documentation.
Documents can be emailed, faxed, or mailed to NILICO.
For claims involving accidental death and homicide, NILICO also requires an autopsy, toxicology, and police reports, as well as a certified copy of the coroner’s report.
A NILICO policy that has been in force for more than two years is considered “incontestable” and will usually be approved upon receipt and examination of all document requirements. Beneficiaries can receive their money within 10-15 business days from the time the claim was processed.
However, when a policy has been in effect for less than two years, it is considered “contestable” and will be reviewed further, which could increase processing times. Claimants can expedite the process by submitting all verification documents as described by NILICO and by filling out all required parts of the claim form.
Most of NILICO’s products — including life, accident, and health insurance — follow a similar claim procedure. The differences are in the types of forms submitted and the verification documents used.
National Income Life Customer Service
NILICO’s website does not offer online quotes or purchases, nor does it provide pricing information. Researching on your own can be tricky because you won’t know what coverage limits, policy options, pricing, or features specific policies offer.
The only way to get more coverage information is through an independent NILICO agent. General agents are located throughout New York, serving union members and their families statewide. Interested individuals can reach out via phone or email (both are listed on their website).
The company’s representatives can meet with you at your home or wherever it is most convenient for you. Agents also assist with the buying process. If running late, company policy dictates that the agent has to contact you and give you the option to reschedule.
Is National Income Life financially strong?
National Income Life Insurance Company is a wholly-owned subsidiary of American Income Life (AIL) Insurance Company and is licensed to conduct business in New York.
In turn, AIL is a wholly-owned subsidiary of Globe Life Inc. With a combined asset base of more than $5 billion, AIL and NILICO both hold life insurance policies collectively worth more than $73.7 billion.
NILICO has also earned the A+ (Superior) Financial Strength Rating from A.M. Best. The A.M. Best rating is a reflection of an insurance company’s financial health. NILICO’s high credit rating demonstrates its creditworthiness and ready ability to pay policyholder claims.
As a mutual company, NILICO is owned by its policyholders. NILICO claims that this provides the company with a solid financial foundation and gives it the ability to offer some of the most competitive rates in the industry.
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Our Final Verdict
National Income Life Insurance Company probably isn’t the right type of insurer for you if you’re looking to price it out, buy it online or even just get a more detailed idea before you buy. Online information is scarce. Independent agents are the only way to obtain any substantial information about their coverage.
But NILICO offers a variety of supplemental coverage options that aren’t typically found anywhere else. So, if your union or company provides insurance coverage, it won’t hurt to take some time to consider NILICO’s policies and whether you and your family can benefit from them.
National Income Life Contact Information
Company Phone Number: 800-516-4466
Company Email: [email protected]
Headquarters: Syracuse, New York
