National Life Group
Our Take
National Life Group offers a diverse selection of annuity options through just a few products. Some of the most popular riders are available free of charge on certain products.
Pros
- Diverse options of annuity solutions
- Flexible premiums on FIT series
- Several no-cost riders on certain products
Cons
- Products and features may not be available in all states
- High minimum premium on single premium deferred annuity option
Products Offered by National Life Group
National Life Group offers four annuity options including those through its subsidiary, Life Insurance Company of the Southwest.
- FIT Secure Growth flexible premium indexed annuity
- FIT Select Income flexible premium indexed annuity
- Green Mountain Freedom 5 single premium deferred annuity
- RetireMax Secure 5 Single Premium deferred annuity
FIT Secure Growth
National Life’s FIT Secure Growth annuity is a flexible, low-cost savings option with a minimum premium of $100 per month or $5,000 upfront.
It offers six interest crediting options, allows contributions through various plans and provides riders for nursing care, terminal illness and emergency access waivers at no extra cost.
Overall, FIT Secure Growth caters to diverse financial goals, promising long-term accumulation with the flexibility to access money as needed.
FIT Select Income
National Life’s FIT Select Income annuity is a flexible premium deferred indexed plan with many features.
It caters to individuals aged 18 to 75 and has a minimum initial premium of a $100 monthly salary deduction or a $5,000 single premium.
FIT Select Income has a 30-day free look period and free withdrawals of up to 10% of your policy amount after the first year. The annuity riders include nursing care, terminal illness and an Emergency Access Waiver.
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Green Mountain Freedom 5
Green Mountain Freedom 5 is a single premium deferred annuity. It offers guarantees on premiums, interest, death benefits and income amounts.
This product requires a $100,000 minimum premium with varying maximum premium limits of up to $2 million based on age.
It provides tax-deferred growth, flexible distribution options and no fees or expenses except for withdrawal charges. It’s designed for long-term retirement savings and is available for ages 0 to 85.
RetireMax Secure 5
RetireMax Secure 5 by National Life is a single premium deferred annuity providing versatile income options, including life, joint and survivor life, and period-certain options.
Available for ages 85 and under, it requires a $100,000 minimum deposit with maximum premiums of up to $1 million based on age.
Withdrawals within the first five years incur charges, but you can withdraw up to 10% of your policy amount penalty-free in subsequent years. It also supports loans for 403(b) or 457(b) plans with the annuity as collateral.
Tax advantages include deferral until withdrawal or income receipt, but early withdrawals may incur penalties.
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About National Life Group
National Life Group sold over $53.5 million in annual direct annuity premiums in 2022 and had just under 0.02% of the U.S. annuity market. Annuities account for slightly more than 9% of National Life’s total premiums sold, according to the National Association of Insurance Commissioners (NAIC).
The company had $9.7 billion in assets and reported more than $2.5 billion in capital and surplus in 2022, according to the NAIC.
The company is licensed to sell life insurance products in all 50 states and the District of Columbia, but not all products may be available in all locations.
National Life Group was originally chartered by the Vermont General Assembly in 1848. Today, it is one of the 25 largest life insurance companies in the United States. It has headquarters in Montpelier, Vermont and Dallas, Texas.
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Credit Ratings
Credit ratings for annuity providers give insight into their financial stability, helping you make informed payment decisions. There are different scales across different rating agencies.
National Life Group Credit Ratings
| Rating Company | Credit Rating |
| AM Best | A+ |
| Fitch | No rating |
| S&P | A+ |
See which annuity providers our independent editorial team ranked as the Best Annuity Companies of 2024.
What Customers Are Saying About National Life Group
The NAIC tracks the consumer complaints that each state’s insurance commission receives each year. These are used to compile a company’s NAIC Complaint Index.NAIC Complaint IndexDetermined by dividing the company’s share of complaints in the U.S. market by the company’s share of premiums in the U.S. market. The National Complaint Index is always 1.00, so a score of 2.00, for example, is twice as high as expected in the market.
NAIC Complaint Index for National Life Group
| All Policy Types | 0.26 |
| Individual Annuities Only | 0.0 |
National Life Group Pros & Cons
The advantage of National Life Group’s annuity products is that they offer flexibility for the individual needs and goals of people looking to buy an annuity.
- Diverse Options
- National Life Group offers a variety of annuities catering to different financial needs and preferences.
- Low Minimum Initial Premiums with FIT Series
- The minimum premium is a $5,000 lump sum or monthly $100 premium payment for a set period with the FIT Secure Growth and FIT Select Income options.
- Diverse Interest-Crediting Options
- Annuities offer various interest-crediting options such as S&P 500, declared rates and global indices to match different risk appetites and investment preferences.
- Beneficial Riders at No Extra Cost
- Some National Life Group annuities provide riders for nursing care, terminal illness and emergency access waivers with their annuities at no extra cost, enhancing their overall value.
Pros of National Life Group Annuities
High minimum premiums for some annuity products and lack of availability of some products or features in California and New York may affect some customers.
- High Minimum Premium on SPDA Products
- The minimum premium for National Life’s single premium deferred annuities is $100,000.
- Limited Market Share
- National Life Group holds a relatively small market share, just under 0.02% of the U.S. annuity market, which may raise concerns about its market presence and competitiveness.
- Product Availability
- Not all National Life Group products may be available in every state, limiting the options for potential customers and requiring careful consideration of product availability based on location.
- Withdrawal Charges
- Early withdrawal of these annuities may incur charges, potentially affecting liquidity for those needing access to funds within those initial years.
- Age Restrictions
- FIT Select Income is available for individuals aged 18 to 75, potentially limiting accessibility for those outside this age range, especially older individuals seeking annuity options.
Cons of National Life Group’s Annuities
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Provider Rating Methodology
Annuity.org created a fact-based methodology to analyze the strength, security and reach of different annuity providers. We assessed companies based on their availability, the number of direct premiums sold, their AM Best Financial Strength Rating and their NAIC Complaint Index score.
Providers received a rating on a five-star scale for each of these categories, with the complaint index and financial strength ratings weighed as the heaviest variables. Then, using a weighted average, each company was assigned an overall star rating.
Top-Ranked Annuity Providers
| Provider | Annuity.org Star Rating |
| Mass Mutual |  |
| New York Life | |
| Pacific Life | |
| Midland National | |
| North American | |
| Western & Southern | |
Our Rating Panel
The Annuity.org editorial team spoke with several different annuity experts to learn more about what is important to customers when searching for a provider and what factors make a company reliable. While Annuity.org designed the methodology, these experts provided feedback during the process and consulted on what factors we should leverage to best help prospective buyers compare providers.
