The National Family Care Life Insurance Company is the subject of this health insurance review. The company is part of the National Family Care Companies based in Dallas, Texas. National Family Care has been in business since 1977 and now focuses primarily on health insurance products and a term life policies. Their sister company, known as NFC Marketing Associates, handles the sales and servicing of policies.
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National Family Care Life Insurance Company claims on its web sites that its products and services are continually being examined and scrutinized in order to achieve the best customer service and product list available. The company is quick to mention is computerization, marketing, an analysis in making sure they stay at the forefront of progressive insurance products. However, some of their history suggests customer service has not always been what it could be.
National Family Care Life Insurance Company Litigation
Records from the state of Texas indicate the company has been involved in some significant court cases. They have also been fined on a number of occasions by the Texas insurance department. Most of these cases revolve around actions by agents rather than the company itself. In one particular case, an agent was fined $5,000 for falsely representing life insurance policies to customers. This particular issue is one that seems to be a recurring with National Family’s life Insurance policies.
Several review sites offer comments from unsatisfied customers who have thought they were purchasing whole life policies when indeed they were term policies. A couple of reviews expressed surprise when the individuals tried to cash out what they thought were whole policies. Part of this responsibility can obviously be laid at the feet of individual customers who should make the effort to know what they are purchasing. For the same reason, an agent who is fined for misrepresenting insurance policies should not be tolerated.
National Family Care Life Insurance Company Agents and Locations
National Family Care works with a network of independent agents in states where they do business. Unfortunately, we were not able to determine if they offer policies outside of Texas. Regardless, their agents are able to offer not only their policies, but also the policies of several other competitors who they might represent.
By utilizing a local agent customers are more likely to find the best policy suited for them. As previously mentioned, customers don’t necessarily have to work with an independent agent; they can purchase policies through NFC Marketing Associates.
It does not appear that the company itself maintains any locations other than their Dallas headquarters. According to the company website, their contact information is as follows:
National Family Care Life Insurance Company
NFC Marketing Associates
P.O. Box 809043
Dallas, Texas 75380
Phone: (800) 527-0996
National Family Care Life Insurance Company Products
National Family offers its products generally under two different categories: cafeteria plans and specialized policies. A cafeteria plan is one in which insurance is offered through employers with a menu of options for participating employees to choose from.
National Family’s menu includes:
- Major medical
- Dental and vision
- Life insurance
An employer can include all of the company’s products in its menu or just specific ones for which it’s interested. Furthermore, National Family can provide complete plan administration for employers who don’t want to administer it themselves.
The company’s specialized policies include coverage for cancer care, heart attacks, and intensive care hospital stays. With general health insurance policies, these types of situations are frequently not covered fully because of the fact that they can be so costly. By purchasing this extra insurance customers have the protection they need for these types of situations. Although the company’s website doesn’t clearly indicate these supplemental policies can be purchased separately, it is assumed they can be.
National Family Care Life Insurance Company Financials
We could not find any recent financial ratings for this company from entities like a Standard & Poor’s, A.M. Best, and Moody’s. However, we did find a Standard & Poor’s rating from 1999 in which the company was downgraded from “B+” to “B.” The primary reasons given for the downgrade were the company’s relatively small capitalization and irregular earnings. National Family nonetheless remains a viable business some twelve years later.
Official records filed with the state of Texas in 2010 indicates National Family Care Life Insurance Company is doing moderately well. The reports list total assets of $15 million, a net policy surplus of $7.2 million, and working capital of approximately $1 million. These numbers certainly are not indicative of an extremely large and profitable insurance company, but they are in correct proportion to suggest that National Family is doing fine financially.
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