Sons of Norway Life Insurance Company (An Insider's Review)

Clifford PendellWritten by Clifford Pendell, Managing Partner and Co-founder

Originally known as the Independent Order of the Sons of Norway, Sons of Norway was founded in 1895 by 18 individuals that needed life insurance but found themselves unable to secure coverage.

Today the non-profit organization has more than $743 million U.S. dollars of life insurance policies in force, and they offer some of the most aggressive rates in the industry.

This article provides an overview of the Sons of Norway Life Insurance company and the whole life insurance policies they sell. We’ve also included some sample rates and approval guidelines to help you determine which product you’ll qualify for.

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A Brief History of the Sons of Norway

The Sons of Norway life insurance company was created over 125 years ago by a small group of Norwegian emigrants that wanted to financially protect their families. After the Panic of 1893, the United States experienced a period of depression that lasted until 1897. During this time, securing a life insurance policy was nearly impossible, especially for an emigrant with a labor-intensive job.

Instead of relying on an established life insurance provider, the “Sons of Norway” pulled their resources to insure each-other, laying the foundation for the company’s future as an insurance provider. Today the organization has grown to include more than 50,000 active members, 15,500 life insurance policy holders, and 360 member lodges throughout the United States, Norway, and Canada.

The group’s stated mission is to celebrate, “the culture, heritage, and caring values of Norway.” Membership is open to anyone, regardless of their gender or ancestry. You can also purchase their life insurance products for yourself without joining the organization. While anyone can become a member, you must be in average health to qualify for their simplified issue whole life insurance.

For applicants with serious health issues, Sons of Norway also offers guaranteed acceptance life insurance to almost anyone under the age of 85. These policies are ideal for people with serious health issues that prevent them from qualifying for other types of coverage. We’ve further explained each of these policies in the next section.

Sons of Norway Insurance Policy Options

Sons of Norway offers a variety of life insurance and annuity products, and they specialize with final expense coverage. These policies are designed to last your lifetime and provide money to your loved ones to cover the cost of your end-of-life expenses.

The company offers two different types of policies for this purpose, simplified issue whole life insurance and guaranteed issue insurance.

We’ve further explained each of these policies and the benefits that offer below:

Simplified Issue Whole Life Insurance

Also known as whole life insurance, is permanent life insurance for applicants in average or better health. These policies do not require an exam for approval, but the insurance provider will review your medical records and prescription history. They offer up to $50,000 in coverage and available until age 85.

What sets this policy apart from some of the other policies on the market are its minimum issue age and guaranteed cash value. Sons of Norway’s policy begins building a small cash value as soon as you make your first payment. Although we rarely advise it, this amount can be borrowed from at any time for 8% interest.

Whole life insurance policies usually have a minimum issue age of 45 or 50, and many juvenile life insurance policies expire by the age of 21. However, with Sons of Norway, you can lock in lifetime coverage for your child or grandchild at any time. The policy will not expire, and it provides the insured with some options to increase their coverage later in life.

If you are under the age of 85, and in average or better health, you can instantly compare quotes from Sons of Norway and dozens of other whole life insurance providers using our free quote form below. These policies do not require a medical exam for approval, and they offer level rates and coverage until the age of 121.

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Guaranteed Issue Whole Life Insurance

Also known as guaranteed issue insurance, is a form of permanent life insurance for people with serious health issues that prevent them from qualifying for other types of coverage. No medical exams or health questions are required for approval, and up to $25,000 in coverage is available until age 85.

These policies are available to almost anyone with serious health issues, but they have a two-year waiting period before they provide full coverage. If the insured were to pass away from a health-related issue during this period, their beneficiary would not receive the full death benefit, they would collect all the premiums paid into the policy plus 10%.

While someone who is currently working at least 20 hours a week might qualify for guaranteed issue life insurance with immediate coverage, these policies are usually the best option for anyone that is unemployed or collecting Social Security Disability/SSDI.

Like Sons of Norway’s whole life insurance policy, these policies also begin building a small cash value at issue. This amount can be borrowed from at any time with an 8% interest fee. Please note that borrowing from this cash value will decrease your policy’s death benefit if you pass away with an outstanding balance.

Sons of Norway also offers term life insurance, but we do not believe this is their strong suite. To compare term life insurance rates from more than 50 providers, click here to access our free term life calculator. To instantly view your options for guaranteed whole life insurance from Sons of Norway and dozens of other providers, please use the form below.

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Whole Life Insurance Rates from Sons of Norway

In the tables below we’ve included sample rates for both whole life insurance policies offered by Sons of Norway. These policies are available to U.S. residents until six months after they reach the age of 85.

Simplified Issue Whole Life Insurance

If you are in average health for your age group, and DO NOT have a history of heart disease, cancer, diabetes, strokes, or other serious medical issues, you should qualify for a Simplified Issue Whole Life Insurance policy with immediate coverage. If you have an unfavorable health history, skip to here.

Sample Whole Life Insurance Rates for a Female

Current Age$10,000$25,000$50,000
30N/A$27.39$51.38
40N/A$35.70$68.00
50N/A$50.15$96.90
60N/A$73.23$143.06
70$48.76$116.81$230.22
80$87.17$212.82$422.24

*Displayed monthly rates are accurate as of 02/02/2021 and are provided for illustrative purposes only. Not available to NY residents.  

Sample Whole Life Insurance Rates for a Male

Current Age$10,000$25,000$50,000
30N/A$29.86$56.31
40N/A$38.70$73.99
50N/A$54.68$105.95
60N/A$82.88$162.35
70$56.33$135.72$268.05
80$102.31$250.67$497.33

*Displayed monthly rates are accurate as of 02/02/2021 and are provided for illustrative purposes only. Not available to NY residents.

Guaranteed Issue Whole Life Insurance

If you have a serious medical issue like diabetes, congestive heart failure, or any health issue that prevents you from working, guaranteed issue life insurance is probably the only option available to you. These policies offer limited coverage in the first two years, but they will not ask you any questions about your health history.

Sample Guaranteed Issue Life Insurance Rates for a Female

Current Age$10,000$15,000$25,000
30$15.25$22.87$38.12
40$21.10$31.65$52.74
50$27.63$41.44$69.06
60$41.07$61.61$102.68
70$63.33$94.99$158.31
80$106.67$160.00$266.67

*Displayed monthly rates are accurate as of 02/02/2021 and are provided for illustrative purposes only. Not available to NY residents.  

Sample Guaranteed Issue Life Insurance Rates for a Male

Current Age$10,000$15,000$25,000
30$19.40$29.10$48.49
40$26.80$40.20$67.00
50$36.59$54.89$91.48
60$58.09$87.13$145.22
70$90.58$135.88$226.46
80$139.85$209.78$349.63

*Displayed monthly rates are accurate as of 02/02/2021 and are provided for illustrative purposes only. Not available to NY residents.

To receive an accurate quote based on your age and coverage needs, or to compare Sons of Norway’s rates with other providers, enter your information into the form below. Our online quote calculator will display accurate rates and policy options to help you determine the cost of your coverage before you speak to an insurance agent.

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Are the Sons of Norway my Best Option for Life Insurance?

As an independent and non-partial life insurance agency, we represent 63+ whole and term life insurance providers including the Sons of Norway. And while our licensed agents rarely recommend their term life insurance products, we recommend their whole life insurance policies quite often. They are usually the best option for younger applicants with serious health issues.

Sons of Norway’s whole life insurance rates are extremely competitive, and oftentimes they are the least expensive option available. They are also one of the only providers that offers simplified issue whole life insurance applicants after the age of 80. While their policies are not the best fit for everyone, they have some great niches for applicants with specific coverage needs.

To determine your best option for life insurance, call us today at 855-247-9555. Our experts will help you find the best policy for your needs and provide you with accurate rates. You can also compare your options using the quote form below. Our shopping services are always free and there is no cost to apply for life insurance.

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Clifford Pendell

Clifford Pendell

Managing Partner and Co-founder

Cliff is a licensed life insurance agent and one of the owners of JRC Insurance Group. He has helped thousands of families of businesses with their life insurance needs since 2012 and specializes with applicants who are less than perfect health. In his spare time he enjoys spending time with family, traveling, and the great outdoors.

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