In the life insurance industry, something totally new comes along only once in a great while. Game changers are rare, and this is one of them. Today Ohio National Financial Services, Inc. announces the debut of the first and only indexed whole life insurance product, providing what no other life policy can: guaranteed protection, stability and index-based growth potential.
Indexed whole life from Ohio National provides a lifelong death benefit and cash accumulation guarantee, along with fixed premiums regardless of changes in health. These features have served generations of policyholders in the company’s traditional whole life products. With new indexed whole life, customers can get the same guarantees — plus the opportunity to grow cash value in relation to stock market indexes such as the S&P 500 and Russell 2000.
Indexed-based allocation options offer significant growth potential, but because funds are not invested directly in the market, there is no risk of loss due solely to market performance.
The accumulated cash value can be accessed during the insured’s lifetime, generally on a tax-preferred basis, for almost any purpose, from supplementing retirement income to starting a business.
“Our new indexed whole life product is an important breakthrough for Ohio National and the financial professionals who sell our products,” said Karl Kreunen, vice president of product marketing. “We’re thrilled to offer them a unique tool to help their clients reach their financial goals.”
“This product is something financial professionals can’t find anywhere else,” added Pat McEvoy, senior vice president of life distribution and sales. “We’re passionate about helping them develop client relationships and build their businesses with the addition of indexed whole life to their portfolios.”
Ohio National’s debut indexed whole life product, Prestige Indexed 10 Pay, features 10 years of fixed premium payments and is currently available through independent financial professionals in all states except California and New York. Product marketing information for financial professionals is available at iwl4life.com.
Kreunen said they’ve already seen a lot of positive feedback about the new indexed whole life product from Ohio National’s agent group as a result of a “soft launch” on Aug. 29. “We’ve already had a lot of excitement in our agent group with people asking questions,” Kreunen said. “We’re very positive about where this is headed.”