Madison National Life

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Written by:

Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Written by Jeffrey Johnson

Insurance Lawyer

Reviewed by:

Mary Martin

Published Legal Expert

Mary Martin has been a legal writer and editor for over 20 years, responsible for ensuring that content is straightforward, correct, and helpful for the consumer. In addition, she worked on writing monthly newsletter columns for media, lawyers, and consumers. Ms. Martin also has experience with internal staff and HR operations. Mary was employed for almost 30 years by the nationwide legal publi...

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Reviewed by Mary Martin

Published Legal Expert

UPDATED: Oct 26, 2024

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Company Details
Address: 1241 John Q. Hammons Drive
City: Madison
State: WI
ZIP Code: 53717
Phone Number: 608-830-2000
AM Best Rating: A-
URL where was collected the AM Best Rating: http://www.ambest.com/ratings/
Lines of Insurance: health, life, disability
States Licensed To Sell Insurance In: AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, VI, WA, WV, WI, WY
Type of Insurance Company: Stock (parent)
Parent Company: Independence Holding Co.
Top executive Contact: Larry R. Graber
Title of Top executive: President
Ticker Symbol: IHC (NYSE)
Assets & Premiums:

Direct Premium: $188.098 millionTotal Assets: $696.129 million

3.81 (20 reviews)

Company Overview:

Company History: Madison National Life Insurance Company was founded in 1961. Since then it has expanded to offer insurance in 49 states, Washington D.C, Guam, American Samoa, and the Virgin Islands. The company is also has a license to reinsure in New York and has over $11.3 billion of life insurance in force. Still, the company has remained relatively small in size with fewer than 100 employees. 

Ready to get a life insurance quote? Compare life insurance rates today.

Principle Sales Methods: General agents, third party administrators, credit unions and U.S. Government entities.
Life Annuity Business: Madison National sells Group Term Life, Long-term Disability and Major Medical insurance, plus Credit Life plans. Direct premium from all life insurance is $21.4 million. 

Health Business: Madison National sells Major Medical, Disability, and Military and Civilian Government Employee Health plans. Direct premium from group disability is $48.8 million. Total Net Premiums earned for accident and health insurance is $107.422 million.
Special Business: Madison National sells Military and Civilian Government Employee Life, Health and Annuity plans.

 

Reviews
for Madison Mutual Insurance Company (Illinois)

3.81 (20 reviews)
5
January 4, 2022

Carlos_B__

State Farm Vs. MadisonMutual

I have auto insurance with this company. I got in an auto accident with the other driver (StateFarm) at fault. State farm tried to file claims against me for auto repair and injury. The other person that ran into me was turning and i was at a stop sign, so no real signs of injury actually happened. State farm ignored the police report and only went off of what their client said and refused to cooperate with me when i asked what i can do to prove ...
I have auto insurance with this company. I got in an auto accident with the other driver (StateFarm) at fault. State farm tried to file claims against me for auto repair and injury. The other person that ran into me was turning and i was at a stop sign, so no real signs of injury actually happened. State farm ignored the police report and only went off of what their client said and refused to cooperate with me when i asked what i can do to prove I'm not the one who is lying. They ignored me and treated me like trash because I contradicted what their client said(as did the witness and police report). Then my insurance claims adjustor [REDACTED NAME] got a hold of me. I Gave her the witness' number and she got the police report clearly stating I was innocent and State Farm's client was at fault. And she had State farm calling me within an hour to talk about repairs to my vehicle.
Read More
1
December 3, 2018

DUMBFOUNDED

Don't Stay Too Long... We Did

Received a Letter that they were not renewing our Auto Policy after 35 (Auto & Home) PLUS YEARS ..3 auto claims totaling less than 17k in payouts... YIKES.. Expected the rates to go up..Not Cancelled. Found this interesting on the Net... A.M. Best has downgraded the issuer credit rating (ICR) to “bbb” from “bbb+” and affirmed the financial strength rating of B++ (Good) for Madison Mutual Insurance Company (MMIC) (Edwardsville, IL). Th...
Received a Letter that they were not renewing our Auto Policy after 35 (Auto & Home) PLUS YEARS ..3 auto claims totaling less than 17k in payouts... YIKES.. Expected the rates to go up..Not Cancelled. Found this interesting on the Net... A.M. Best has downgraded the issuer credit rating (ICR) to “bbb” from “bbb+” and affirmed the financial strength rating of B++ (Good) for Madison Mutual Insurance Company (MMIC) (Edwardsville, IL). The outlook for both ratings has been revised to negative from stable.
Read More
4
May 26, 2018

happinessiskey

Very quick settling claims

A little expensive in my opinion but they waste no time in settling claims. House or auto I have filed a claim for both.
4
May 21, 2018

Farheen

Great auto insurance

I love this company because of its affordability and coverage. Our agent is also very flexible with the payments.
5
April 8, 2018

JulsGo

Great, local service.

We picked this company through our insurance broker. It was an easy process to switch to Madison Mutual.
4
February 12, 2018

suhanth

Great customer service

Very prompt in answering the queries and good customer service. The claim process is simple and convenient.
5
February 12, 2018

streetwild

Great Company

Great agent representation. Easy to get a hold of. Has taken care of every issue promptly. Rates have been consistently low
3.5
October 12, 2017

lp13

Great rates for singles.

So far so good. I was referred to them when my old insurance company's rate double. I now have better coverage for the same price.
3.5
July 6, 2017

cydnate1

Thank you for your service

Madison mutual is a wonderful insurance company to work with.  They are very helpful and get us through any questions we may have.
4.5
June 4, 2017

cydnate1

Great local insurer

We love our Madison Mutual owned by a local family.  Always available and very easy to work with.  I would recommend them to anyone here in Southern Illinois.
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