Washington National Insurance has carved out a niche as a trusted provider of supplemental health and life insurance products in the ever-evolving landscape of insurance and financial services. With a history spanning over a century, the company has consistently demonstrated its commitment to helping individuals and families safeguard their financial wellbeing.
This article delves into the origins, growth, product offerings, and enduring legacy of Washington National Insurance, highlighting why it remains a reliable choice for millions of Americans.
A Brief History of Washington National Insurance
Washington National Insurance Company was founded in 1911 in Chicago, Illinois, by a group of entrepreneurs who recognized the need for affordable insurance products tailored to the working class. At a time when large, impersonal corporations dominated the insurance industry, Washington National set itself apart by focusing on the needs of everyday Americans. The company’s founders believed everyone deserved access to quality insurance coverage, regardless of income or social status.
In its early years, Washington National specialized in providing industrial life insurance, a policy designed for working-class families. These policies were characterized by small face amounts and weekly premium payments, making them accessible to individuals who might not have been able to afford traditional life insurance. Over time, the company expanded its product offerings to include health insurance, disability insurance, and other supplemental coverage options.
Throughout the 20th century, Washington National grew steadily, earning a reputation for reliability, customer service, and innovation. In 1982, the company became a subsidiary of Conseco, Inc. (now known as CNO Financial Group, Inc.), a leading insurance and financial services provider. This partnership allowed Washington National to leverage the resources and expertise of a larger organization while maintaining its focus on serving middle-income Americans.
Mission and Values
At the heart of Washington National Insurance is a mission to provide affordable, accessible insurance products that help individuals and families protect their financial futures. The company’s core values—integrity, respect, customer focus, and excellence—guide its operations and decision-making processes. Washington National is committed to delivering high-quality products, exceptional customer service, and innovative solutions that meet the evolving needs of its policyholders.
One of the key principles that sets Washington National apart is its emphasis on supplemental insurance. Unlike traditional health or life insurance policies, supplemental insurance is designed to fill the gaps left by primary coverage. This approach allows policyholders to customize their insurance plans to address specific needs, such as covering out-of-pocket medical expenses, replacing lost income due to illness or injury, or providing financial support for loved ones in the event of a death.
Product Offerings
Washington National Insurance offers various supplemental health and life insurance products to address specific financial challenges and provide peace of mind. Below is an overview of the company’s primary product categories:
- Supplemental Health Insurance
- Washington National’s supplemental health insurance products are designed to help policyholders manage the costs associated with unexpected medical expenses. These policies provide cash benefits that can be used to cover deductibles, copayments, and other out-of-pocket costs not covered by primary health insurance. Key products in this category include:
- Hospital Indemnity Insurance: Provides cash benefits for hospital stays, surgeries, and other major medical events.
- Critical Illness Insurance: This policy offers a lump-sum payment upon the diagnosis of a covered critical illness, such as cancer, heart attack, or stroke.
- Accident Insurance: Provides financial support for medical expenses and lost income resulting from accidental injuries.
- Life Insurance
- Washington National’s life insurance products are designed to provide financial security for loved ones in the event of a policyholder’s death. The company offers a variety of life insurance options, including:
- Term Life Insurance: Provides coverage for a specified period, typically 10, 20, or 30 years. This type of policy is ideal for individuals who want affordable, temporary coverage.
- Whole Life Insurance: Offers lifelong coverage with a guaranteed death benefit and the potential to build cash value over time. This type of policy is well-suited for individuals seeking long-term financial protection.
- Final Expense Insurance: Designed to cover end-of-life expenses, such as funeral and medical bills, ensuring that loved ones are not financially burdened.
- Disability Insurance
- Washington National’s disability insurance products provide income replacement for individuals unable to work due to illness or injury. These policies help policyholders maintain their standard of living and meet their financial obligations during periods of disability.
- Worksite Benefits
- Washington National partners with employers to offer voluntary benefits that employees can purchase through payroll deduction. These benefits include supplemental health, life, and disability insurance, allowing employees to customize their coverage to meet their unique needs.
Innovation and Adaptability
Throughout its history, Washington National Insurance has demonstrated a remarkable ability to adapt to changing market conditions and customer needs. The company has consistently embraced innovation, leveraging technology and data analytics to enhance its products and services. For example, Washington National was an early adopter of digital tools that streamline the application and claims processes, making it easier for policyholders to manage their coverage.
The company has also focused on addressing the growing demand for flexible, customizable insurance solutions in recent years. Recognizing that no two individuals have the same financial needs, Washington National has developed a range of products that allow policyholders to tailor their coverage to their specific circumstances. This customer-centric approach has helped the company maintain its competitive edge in a crowded marketplace.
Community Involvement and Corporate Responsibility
Washington National Insurance is committed to protecting the financial well-being of its policyholders and making a positive impact in the communities it serves. The company actively supports charitable organizations and initiatives, focusing on health, education, and social services. Through its corporate responsibility programs, Washington National strives to create lasting change and improve the lives of individuals and families nationwide.
One notable example of the company’s community involvement is its partnership with the American Cancer Society. Washington National has supported the organization’s efforts to fund cancer research, provide patient support services, and promote early detection and prevention. The company’s employees also participate in local fundraising events, such as Relay for Life, demonstrating their commitment to making a difference.
Customer Service and Satisfaction
A hallmark of Washington National Insurance is its dedication to customer service. The company understands that purchasing insurance can be a complex and sometimes overwhelming process, and it strives to make the experience as seamless and stress-free as possible. Washington National’s licensed agents and customer service representatives are trained to provide personalized guidance, helping policyholders choose the right products and understand their coverage options.
The company’s commitment to customer satisfaction is reflected in its high retention rates and positive customer reviews. Policyholders appreciate Washington National’s transparency, reliability, and responsiveness of services and the peace of mind that comes with knowing they are protected by a trusted provider.
The Future of Washington National Insurance
As Washington National Insurance looks to the future, it remains focused on its core mission of providing affordable, accessible insurance products that meet the needs of middle-income Americans. The company is committed to staying ahead of industry trends and leveraging new technologies to enhance its offerings and improve the customer experience.
One area of focus for Washington National is the growing demand for digital solutions. The company is investing in online platforms and mobile apps that allow policyholders to easily manage their accounts, file claims, and access important information. By embracing digital transformation, Washington National aims to make insurance more convenient and accessible for its customers.
Another priority for the company is expanding its product portfolio to address emerging risks and challenges. For example, Washington National is exploring new supplemental insurance products that cover long-term care, chronic illness, and other health-related expenses. These innovations reflect the company’s commitment to staying relevant and responsive to the evolving needs of its policyholders.
Conclusion
Washington National Insurance has earned its place as a trusted provider of supplemental health and life insurance products through a century of dedication to its mission, values, and customers. With a diverse range of offerings, a customer-centric approach, and a commitment to innovation, the company continues to help individuals and families protect their financial futures. As it moves forward, Washington National remains steadfast in its goal of providing affordable, accessible insurance solutions that empower policyholders to face life’s uncertainties with Confidence.
In a world where financial security is more important than ever, Washington National Insurance is a beacon of stability and reliability. Whether through its supplemental health insurance, life insurance, or disability insurance products, the company has repeatedly proven that it can balance affordability with quality. For those seeking a partner in financial protection, Washington National Insurance is a name that can be trusted.
