Thoughts on Ohio National?

[Mac1958]

Given their recent, um, "issues" with their variable annuities, payouts, and upcoming class action lawsuits, I'm wondering whether there's any reason to be concerned about their core whole life products.

I like their performance and their non-direct recognition feature, and neither NYL nor MassMutual are terribly independent-friendly.

Do you feel that ONL is solid going forward, and/or what company might make the best Plan B?
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[DHK]

https://insurance-forums.com/commun...g-the-annuity-retirement-plan-business.95200/

PennMutual was a prominent company mentioned in the thread above.

I do feel that Ohio National may be solid, but as John Savage said: "All you have in an interview is trust. Once violated, you have nothing." Ohio National violated its trust by backing out of a compensation agreement with those who sell their products (aside from career agents). And successful agents have long-term memories.

 

[pfg1]

I feel like they are a solid company. Not a fan of what they did, but I think they are smart to focus on what they are good at. Life and disability. According to their top producer (privately), they ain't going anywhere. Of course none of us has a crystal ball.

I second Penn as an alternative if you don't like ONL.

 

[DayTimer]

I do feel that Ohio National may be solid, but as John Savage said: "All you have in an interview is trust. Once violated, you have nothing." Ohio National violated its trust by backing out of a compensation agreement with those who sell their products (aside from career agents). And successful agents have long-term memories.

Very disappointing behavior by an otherwise great company.

 

[scagnt83]

I think your avatar sums up Ohio National very nicely.

MassMutual will deal with Independents all day long. You can contract direct with them. Same with Guardian. Penn mutual has one of the best whole lifes on the market and it blows Ohio National away. Again, you can contract direct with them and they are very indy friendly.

 

[WinoBlues]

There is no reason Ohio National should be supported by any independent agent. Let them sink or swim on the backs of their career agents imho. Their behavior would be no different than a defendant who took a plea deal acting as a double agent and feeding information from the prosecutors investigation to the defendants former partner in crime.

They are a solid Life company still. IMO. However, They have a captive company mentality again IMO.

 

[Mac1958]

Good stuff guys, thank you.