Ohio National’s new Prestige Series is focused on providing low-cost, permanent protection to individuals and businesses, the insurer said in a press release.
Whole life insurance is permanent coverage with a death benefit paid to named beneficiaries. The Ohio National Prestige Series offers a high death benefit for the amount of premium paid, while providing opportunities for cash value accumulation. Cash values are available during the lifetime of the insured for almost any purpose, usually on a tax-efficient basis.
“We have always believed that it is important to have protection for your family and your business throughout your life, and whole life insurance can provide that permanent protection,” said Karl Kreunen, vice president of product marketing. “We have designed our new whole life insurance series to offer our clients a lower premium alternative for the amount of coverage they choose. “
“We took a look at what matters most in a business and personal life insurance policy,” added Chris Calabro, senior vice president and director of distribution and marketing. “They want the best possible coverage for their money, so value is definitely what drives our latest Lifetime Offerings. “
New Ohio National whole life insurance products are currently available from independent financial professionals in all states except New York.
Whole life insurance is issued by the Ohio National Life Insurance Company. Guarantees are based on the issuer’s ability to settle claims. If tax-free loans are taken out and the policy expires, a taxable event may occur. Withdrawals (partial surrenders) and loans from life insurance policies classified as amended endowment contracts may be subject to tax at the time of withdrawal or loan and, if taken out before the age of 59 and a half, a federal tax penalty of 10% may apply. Withdrawals and loans reduce the death benefit and the cash value.
Products, product specifications, and jumper availability vary by state. Issuer not authorized to operate in New York.
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 in 49 states (all except New York), the District of Columbia and Puerto Rico and through affiliate operations in South America, we offer the insurance products that help our policyholders achieve financial security and independence. As at December 31, 2020, its affiliates had total assets of $ 41.2 billion under management. The 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.