The only method to recognize that you are getting the best life insurance rates is to work with an independent agent who can offer you quotes from dozens of companies. Keep in mind that picking the lowest quote doesn’t mean you will get the lowest price. Qualifying for super preferred rates is a privilege reserved for the healthiest applicants who don’t pose any risk to the insurer (about 5%–10% of all applicants).

For the rest of us, choosing the right company becomes a daunting task you keep procrastinating. This is why we love writing life insurance company reviews. Today, we bring you a review of EMC National Life Company so that you can find out if they are the right company for your insurance needs.

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EMC National Life Company History

EMC National Life Company (EMCNL), a subsidiary of EMC Insurance Companies (EMC), is located in Des Moines, Iowa and markets life insurance products for individual and business. EMCNL sells its products solely through independent agents in 48 states and the District of Columbia.

They take their partnership with agents very seriously because they believe an independent agent can deliver personalized service and superior products that benefit the client. EMCNL was established on July 1, 2003, with the merger of Employers Modern Life Company and National Travelers Life Company.

EMC National Life Company Financial Ratings

According to A.M. Best, EMC National Life Company has A- (Excellent) rating with a stable outlook.

Products Offered by EMC National Life Company

EMCNL offers annuities and commercial and individual life insurance products. I will go over the individual life insurance products which include temporary and permanent coverage.

Temporary Life Insurance Policies

Temporary life insurance is also referred to as term life insurance. Mainly, you acquire protection for a specific period, typically 10–30 years. The premiums and the death benefit remain the same throughout the contract’s span, and at the end of the term, you may convert the policy to whole life or continue paying for it on an annual basis.

Term life is a great option for healthy young individuals and families because it won’t break your bank while providing adequate coverage should you suddenly die. EMC National offers four types of term life coverage:

Term Select

Term select offers the lowest cost term insurance with an emphasis on mortgage protection, income replacement, or short-term debt relief.

  • 5-, 10-, 15-, 20-, 25-, or 30-year terms
  • Minimum face amount: $50,000
  • Convertibility option to a permanent coverage

Easy Choice Term

This is a 5-year term life protection which is intended to cover individuals if they incur short-term debts such as buying a new car, attending college, or remodeling your house. The application and approval process is easy and straightforward because there is no medical exam you need to take as part of the underwriting process.

  • Simplified issue (a few health questions)
  • No clinical exam
  • Issue ages: 18–70
  • Face amount: $5,000–$100,000
  • Option to renew for another five years at the end of your term
  • Accelerated death benefit at no additional cost

Instant Issue Term

In a world in which everything is a click away, instant term by EMCNL offers just that: convenience. In ten minutes, you could be approved for a life insurance policy, leaving time to do the things you really want.

  • No paper applications, online only
  • Simplified underwriting with no exam
  • Face amount: $25,000–$250,000
  • 5-, 10-, 15-, 20-, 25-, or 30-year plans
  • Accelerated death benefit at no additional charge

Youth Plus Term

This is a term life insurance for children. The policy can be converted to a permanent plan when the child reaches the age of 25, up to $25,000 in death benefit without proving insurability.

  • Death benefit options: $5,000, $7,500, $10,000, or $20,000
  • Choose from one single premium or two-year payment
  • Optional guaranteed insurability rider which allows up to $150,000 in universal life by purchasing $25,000 at ages 28, 31, 34, 37 and 40
  • Available online through your agent

Permanent Life Insurance Policies

Permanent life insurance offers continuous protection for your entire lifetime. Additionally, it comes with cash value accumulation benefit which grows on a tax-deferred basis. The insured can access the cash in the account via loans, withdrawals, or when surrendering the policy. EMC National offers six types of permanent coverage:

Easy Choice Whole Life

Easy Choice Whole Life is intended to cover the charges and affairs associated with your death, such as the cost of funeral service, final hospital bills, and burial expenses. Final expense coverage offers guaranteed death benefit to be paid tax-free to your heirs upon your death. Your premium amount remains level through your life, so you always know what to expect when budgeting or when on a fixed income.

  • Simplified issue without a medical exam
  • Issue ages: 18–80
  • Death benefit: $5,000–$50,000
  • Guaranteed death benefit, level premiums, and cash accumulation
  • Accelerated death benefit at no extra charge

Guaranteed Increasing Whole Life

This is a final expense coverage on steroids. In addition to covering the standard final expenses and burial services (typically, around $10,000), it gives additional financial protection by increasing the death benefit amount you can buy. For those who need to cover other financial obligations such as car loans or credit card debt, a traditional final expense with lower benefit may not be sufficient.

  • Immediate underwriting decision after the phone interview
  • Death benefit: $2,000–$150,000
  • Issue ages: 18–85
  • Accelerated death benefit at no extra cost
  • No exam needed as part of the underwriting process

Youth Whole Life

A whole life coverage for children that offers guaranteed death benefit, cash value accumulation, and level premium.

  • Death benefit: $2,000–$50,000
  • Payment options: continuous pay, 5-pay or single pay
  • Accelerated death benefit is included at no additional cost

Level Whole Life—Single Premium

A single premium whole life (SIP) insurance is a policy that you pay once in a single premium. There are no monthly, quarterly, or annual payment modes. One of the advantages for SIP is that the cash value in the account grows faster than a traditional policy that you pay monthly because the policy is already funded and has more cash to earn interest on.

  • Issue ages: 18–85
  • Rapid underwriting decision for amounts below $250,000
  • Guaranteed death benefit and cash accumulation
  • Accelerated death benefit at no additional cost

Level Whole Life—Continuous Pay

A traditional level whole life policy in which you pay the premium for as long as you live. It offers the same great benefits whole life offers such as cash value growth and guaranteed death benefit to be paid tax-free to your beneficiaries.

  • Issue ages: 18–85
  • Term rider without limit on the death benefit
  • Coverage amount: $2,000–$1,000,000

Increasing Whole Life

This is a final expense coverage that is designed to increase the death benefit each year until it doubles in year 29. Let’s be realistic here and mention that most who buy a final expense policy are doing it later in life, usually at age 60 and over, and may not live to see this 29-years benefit.

  • Face amount as low as $2,000
  • A guaranteed death benefit to increase each year

Ultra Choice Universal Life

Universal life or UL is another type of permanent coverage which allows individuals to customize their coverage based on particular needs or life events. An insured can skip payments, increase or decrease the death benefit amount while still building cash value and maintaining the original purpose for buying life insurance: guaranteed death benefit to be paid upon death. UL is the most flexible coverage one can buy because it removes the rigidity of fixed premiums and death benefit amount a traditional whole life has.

  • Low face value from $10,000 or a minimum amount of $300 can be purchased
  • Can borrow from cash value at a low-interest rate

Optional Riders

Life insurance riders are extra provisions that can greatly customize your coverage. EMC National offers a few riders to add extra benefits. It’s worth mentioning that riders are not available on all plans or in all states.

  • Additional insured term
  • Children’s term life
  • Waiver of premium
  • Accidental death benefit
  • Accelerated death benefit
  • Unemployment benefit
  • Disability income benefit
  • Term insurance with accelerated death benefit

EMC National Life vs. Other Carriers’ Sample Monthly Rates

Male 20-year Term $250,000

 CompanyAge 30Age 40Age 50Age 60
 Banner $13.05 $19.01 $40.44 $110.28
 Protective $13.05 $17.80 $41.26 $110.61
 AIG $13.17 $19.37 $42.24 $118.76
 Pacific Life $13.18 $18.79 $41.44 $110.29
 Lincoln$13.28 $18.16 $41.15 $109.77
 Mutual of Omaha $13.55 $20.64 $45.80 $134.59
 Principal $14.00 $18.55 $41.19 $109.81
 North American $14.30 $20.02 $43.56 $115.06
 SBLI $14.59 $20.76 $49.60 $147.70
 EMC National $14.91 $21.36 $50.06 $139.95

Female 20-year Term $250,000

 CompanyAge 30Age 40Age 50Age 60
 Banner $11.61 $15.39 $32.21 $78.83
 Protective $11.76 $15.44 $31.65 $77.17
 AIG $11.67 $16.59 $33.90 $87.98
 Pacific Life $11.71 $16.00 $31.83 $77.91
 Lincoln$11.82 $15.67 $31.57 $82.47
 Mutual of Omaha $12.26 $17.63 $35.69 $101.91
 Principal $12.54 $16.19 $32.07 $77.18
 North American $12.76 $16.94 $34.10 $81.84
 SBLI $13.06 $17.72 $34.71 $90.37
 EMC National $13.35 $18.47 $38.94 $107.25

Male 20-year Term $500,000

 CompanyAge 30Age 40Age 50Age 60
 Banner $20.00 $32.68 $73.52 $204.89
 Protective $20.01 $28.75 $75.24 $207.86
 AIG $20.01 $30.27 $76.86 $218.79
 Pacific Life $20.19 $30.26 $75.22 $207.36
 Lincoln$20.39 $30.50 $74.99 $213.02
 Mutual of Omaha $21.29 $32.90 $82.78 $249.19
 SBLI $21.32 $34.97 $87.00 $286.85
 Principal $21.43 $30.54 $75.82 $213.06
 North American $22.44 $33.44 $79.20 $218.68
 EMC National $25.37 $38.27 $95.68 $275.46

Female 20-year Term $500,000

 CompanyAge 30Age 40Age 50Age 60
 Banner $17.37 $25.20 $58.35 $150.93
 AIG $17.44 $26.85 $58.05 $161.51
 Pacific Life $17.51 $25.69 $56.10 $144.97
 Protective $17.53 $25.11 $54.88 $138.51
 Lincoln$17.68 $25.64 $55.31 $144.95
 SBLI $18.18 $27.33 $63.08 $173.03
 Mutual of Omaha $18.28 $28.17 $61.71 $172.65
 Principal $18.52 $25.81 $57.58 $147.79
 North American $19.36 $28.16 $61.60 $154.88
 EMC National $22.25 $32.49 $73.43 $210.04

Male 20-year Term $1,000,000

 CompanyAge 30Age 40Age 50Age 60
 AIG $32.83 $53.35 $141.42 $415.02
 Lincoln$32.91 $53.12 $142.11 $409.07
 Protective $33.78 $51.67 $141.51 $393.73
 SBLI $34.34 $55.91 $147.73 $457.62
 Pacific Life $34.72 $54.10 $141.44 $406.55
 Principal $36.21 $54.51 $145.08 $418.34
 Banner $36.33 $54.74 $141.41 $411.08
 Mutual of Omaha $36.34 $59.56 $157.60 $470.64
 North American $39.61 $60.28 $150.92 $427.24
 EMC National $40.05 $63.19 $174.44 $526.88

Female 20-year Term $1,000,000

 CompanyAge 30Age 40Age 50Age 60
 Banner $25.98 $46.96 $110.42 $294.55
 Protective $28.50 $43.52 $101.32 $265.48
 AIG $25.99 $44.80 $109.78 $311.56
 Pacific Life $28.73 $44.50 $103.19 $274.04
 Lincoln$27.48 $43.41 $102.73 $282.01
 Mutual of Omaha $30.32 $48.38 $112.88 $327.88
 Principal $30.35 $44.89 $105.26 $283.06
 North American $32.12 $48.84 $113.08 $283.80
 SBLI $29.04 $43.67 $103.07 $270.11
 EMC National $32.93 $52.51 $129.05 $380.92

*All rates quoted on this page are for a super-preferred healthy individual who does not use tobacco. Monthly rates are updated as of Jan 2019 and are subject to underwriting approval.*

Bottom Line

EMC National offers unique life insurance products that are niche-oriented. Products such as increasing whole life or five-year term life aren’t products you typically notice when shopping for life insurance. For those who are buying final expense insurance, they don’t have 29 years to wait before the coverage can double itself. They generally buy what they need right from the get-go as long as the premium is affordable and the death benefit is sufficient.

Those who seek term life aren’t really interested in a five-year plan. They usually opt for a 20-year term or even more extended periods. As a buyer, you need to know your goals and requirements before allowing an agent to influence you differently. When it comes to EMC’s term rates, you can do better with other companies (take a look at the table of rates above). I don’t have the prices for their permanent policies, and if you are in the market for one, I think it’s worth it to investigate with EMC National and inquire about the rates.

As a consumer, it almost impossible to keep up with quotes, products, and life insurance companies. You can run the rates yourself by entering your information on the form located on the right-hand side of the page.

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