Since 1848, National Life stood by our policyholders through good times and bad, and today is no different. In the wake of the COVID-19 pandemic, your coverage with National Life Group is more important now than ever.
Together, let’s make sure it stays in force.
We are here to help you, to answer your questions, provide flexibility, and offer assistance for our customers as the COVID-19 pandemic and regulatory changes evolve. We will continue to monitor regulatory changes and provide updates here.
National Life Group will extend grace periods on in force life insurance policies for 90 days from the date the premium is due or was due. Insurance coverage will remain inforce during this 90-day period. We will permit an additional 30 days to pay premiums due without reinstatement requirements, as long as the insured is living. This applies to policies that are in force and not already in a grace period as of March 1, 2020.
If you have questions regarding your particular situation, please call us at 1-800-732-8939.
Our 403(b) and 457(b) loan agreements provide for a grace period of 30 days for loan payments. National Life Group (NLG) is giving priority to loan and withdrawal requests and we are working with retirement plan administrators to ease documentation requirements for loan and withdrawal requests when possible. Relief for 403(b) and 457(b) loans may be available. If you are a participant in a 403(b) or 457(b) plan, please contact your plan administrator for loan and withdrawal information.
For retirement plans, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) includes provisions relating to withdrawals, expanded retirement plan loan provisions, and a suspension of Required Minimum Distributions (RMDs).
For IRAs, the CARES Act provides withdrawals for qualified individuals, including those who experience adverse financial consequences as a result of being quarantined; furloughed or laid off from work; a reduction in work hours; unable to work due to a lack of child care; closing or reduced hours of a business; or if you, your spouse, or a dependent is diagnosed with COVID-19. The CARES Act waives the IRS 10% withdrawal penalty for those under age 59 1/2 (annuity surrender charges may apply). If you own an IRA and are a qualified individual and would like to request an IRA withdrawal, please click here.
If you are experiencing hardship or have questions, please contact us to discuss your options.
Log in to view your policy details, manage payments, update your personal information, and more.
Our fixed and fixed indexed life and annuity products provide guarantees* against losses due to market volatility and declines. But that's what you should expect from a company whose mission is to provide peace of mind to everyone we touch.
Please be assured that as this rapidly evolving health crisis changes, National Life is responding. And you can be certain that we are here to keep our promises, just as we have been doing since 1848.
*Guarantees are dependent on the claims paying ability of the issuing company.
Products issued by:
National Life Group® is a trade name of National Life Insurance Company, founded in Montpelier, VT in 1848, Life Insurance Company of the Southwest, Addison, TX, chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York.