Ohio National Disability Insurance Review

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An independent review of Ohio National Disability Insurance.

Summary – Ohio National Disability Insurance Review

Ohio National is an A+ rated carrier with solid Disability Insurance for Professionals.

Their policy has all essential features a white-collar professional needs. But lacks a few features found among it’s peers. Such as:

Home & Work Modifications
Waiver of Elimination for Recurrent Disability
Retirement Protection Benefit
Serious Illness Benefit
Lump Sum Benefit
Student Loan Protection

Ohio National is known for their excellent customer service and competitive products. They cater to high-income earners, business owners, and other business professionals. Overall, their policy is a good choice when it comes to Disability Insurance for Professionals.

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Company Profile – Ohio National Disability Insurance Review

Ohio National has an A+ (Strong) rating by S&P, with Billions in assets Their history dates back to the early 1900s.

They are a mutual company that has no stock holders (Guardian, Mass, and others are mutual insurers). Ohio National has a consistent dividend history and competitive products. They also offer Life Insurance, Annuities, Retirement Plans, & Wealth Management.

Product Features – Ohio National Disability Insurance

Ohio National Disability Insurance has all essential features a white-collar professional needs. Most important being “Own-Occupation” definition of Disability.

Definition of Disability:
True Own-Occupation and Modified Own-Occupation available. Includes provisions for Occupational Specialties.

Premiums and Contract Provisions:
Non-Cancelable (premiums are locked-in) to age 65, 67, or 70.

Guaranteed Renewable for Life

Benefits Period choices:
2 years – 5 years – 10 years -To age 65 – To age 67 – To age 70

Elimination Period choices:
60 days – 90 days – 180 days – 360 days

Partial Disability and Recurrent Disability:
Included. Partial Disability requires a minimum of 15% loss of income.

Waiver of Premium when Disabled:
Included. Not extended for any period after being Disabled.

Waiver of Elimination Period for Recurrent Disability:
Not Available

Catastrophic Disability Coverage:
Included. No COLA increase

COLA (Cost of Living Adjustment):
CPI Tied 2% – 6%. Or 3% Simple

Future Increase of Coverage:
Future Increase Option available as Rider.

Automatic Benefit Enhancement not included.

Benefit Purchase Option not Included.

Mental Health Benefit:
Capped at 24 months

Occupational Rehab Benefit:
Included

Home & Work Access Modifications:
Not Available

Lump Sum Benefit Option:
Not Available

Retirement Savings Protection:
Not Available.

Serious Illness Benefit:
Not Available

Studen Loan Protection:
Not Available

Target Market for Ohio National Disability Insurance

This product was developed for the average white-collar professional. A mid to upper level employee making $50k – $150k is the best profile for this product. It’s not the most expensive option on the market, but it is certainly not the cheapest either. The product is a solid and well-rounded option.

Alternative Options to Ohio National Disability Insurance

Ohio National Disability Insurance was designed for white collar professionals in the $50k – $150k range. If you are a really high earner, you might want to look at options that are a bit more comprehensive, such as Guardian Life or Principal.

If you are a specialist in your occupation, I recommend you look at alternatives such as Guardian Life or The Standard. This article talks about Disability Insurance for Specialists Occupations.

If you are a blue-collar or gray-collar worker, take a look at this article.

Final Thoughts about Ohio National Disability Insurance

Ohio National is a solid Disability Insurance Policy. A good choice for white-collar professionals and even some gray-collar professionals. Ohio National is well-rated and has excellent customer service. It makes a good option for someone who needs comprehensive income protection.

If you would like a Quote for Ohio National Disability Insurance, feel free to contact me or schedule a consult.