Ameritas Life Insurance Corporation is a financially strong, mutually-owned carrier with over 135 years of history. They carry an A (Excellent) rating from A.M. Best and an A+ (Strong) from Standard & Poor’s. Ameritas offers term, whole life, and indexed universal life insurance with competitive living benefit riders that can provide funds if you’re diagnosed with a serious illness while still alive.
If you’re researching life insurance companies, you’ve probably come across Ameritas. They’re not as well-known as some of the giant carriers, but that doesn’t mean they should be overlooked. In our 30+ years working with clients on life insurance planning, we’ve found that Ameritas consistently delivers solid products with features that genuinely benefit policyholders.
Here’s what you need to know about Ameritas and whether they might be a good fit for your situation.
Ameritas Financial Strength and Ratings
Before we talk about products, let’s address the most important question: Can Ameritas pay claims when it matters most?
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The short answer is yes. Ameritas has maintained strong financial ratings for decades. They currently hold an A (Excellent) rating from A.M. Best, which they’ve maintained for 50 consecutive years. That kind of consistency tells you something about how they run their business. Standard & Poor’s rates them A+ (Strong), and the Better Business Bureau gives them an A+ rating as an accredited business.
What makes Ameritas different from many carriers is their structure. They’re a mutual-based organization, which means they’re owned by their policyholders rather than stockholders. This allows them to focus on long-term decisions that benefit customers rather than chasing quarterly earnings targets.
Founded in 1887, Ameritas now serves over 6 million customers with insurance, financial services, and employee benefits. They’re headquartered in Lincoln, Nebraska and operate nationwide.
Ameritas Term Life Insurance
Ameritas offers three term life insurance products, each designed for different needs.
Ameritas Value Plus Term is their traditional term product. You can choose coverage periods of 1, 10, 15, 20, or 30 years with level premiums throughout the term. Issue ages range from 18 to 80 depending on the term length you select. The policy is renewable to age 95 and includes a conversion option to permanent coverage during the first five years. If you want a longer conversion window, you can add the Conversion Extension Rider.
Ameritas Instant Term is designed for people who want fast underwriting with no medical exam. You answer health questions on the application, and if you qualify, you can get an instant decision. Coverage amounts range from $100,000 to $2,000,000 depending on your age. This product isn’t available in New York.
Ameritas ClearEdge Living Benefits Term includes built-in living benefits that can pay you an advance on your death benefit if you’re diagnosed with a terminal, chronic, or critical illness. This gives you access to funds when you need them most. Like the Instant Term, this product isn’t available in New York.
All three term products offer optional riders including accidental death benefit, children’s insurance coverage, and waiver of premium.
Ameritas Whole Life Insurance
Ameritas offers three whole life products designed around different goals.
Ameritas Access Whole Life is optimized for clients who want strong guaranteed cash values early in the policy. If early liquidity matters to you, this is worth considering. Premiums are payable until the later of age 75 or 25 years.
Ameritas Growth Whole Life focuses on long-term cash value accumulation over 20 to 30 years. This is their traditional whole life product for clients thinking about the long game. Premiums are payable to age 100.
Ameritas Value Plus Whole Life is designed for people who want the lowest premium for their death benefit amount. It’s pure protection-focused whole life. Premiums are payable to age 121.
All three whole life products include dividend options (purchase paid-up additions, cash, reduce premiums, accumulate with interest, or reduce outstanding loans) and access to the Care4Life rider for living benefits.
Ameritas Indexed Universal Life Insurance
For clients interested in cash value accumulation with growth potential tied to market indexes, Ameritas offers two indexed universal life insurance products.
Ameritas Growth IUL II is built for accumulation and tax-free retirement income potential. It’s designed for affluent and emerging affluent clients, typically ages 35 to 55. This policy offers five index options including the S&P 500, S&P MARC 5% Index, and BNP Paribas Momentum Multi-Asset 5 Index. Beginning in year 11, all index accounts receive an extra 0.15% bonus on any index credits paid.
Ameritas Value Plus IUL focuses on affordable death benefit protection with both short and long-term guarantees. It includes a 10% credit enhancement on index credits starting in year 6, plus multiple no-lapse guarantee options. The long-term no-lapse guarantee can extend coverage to the earlier of 50 years or attained age 90.
Both IUL products include the Care4Life accelerated death benefit rider, which provides access to your death benefit if you’re diagnosed with a qualifying critical illness (up to 25% of eligible amount, max $250,000), chronic illness (up to 50%, max $1 million), or terminal illness (up to 75%, max $1 million).
Who Should Consider Ameritas?
Based on our experience, Ameritas tends to be a good fit for:
People who value financial stability and a long track record. Ameritas has been around since 1887 and has maintained excellent ratings for decades. That matters when you’re buying a product designed to last your lifetime.
Clients who want living benefits included with their coverage. The Care4Life rider is a standout feature that comes with most Ameritas products. Having access to your death benefit while you’re still alive can make a real difference if you face a serious illness.
Buyers looking for term coverage with no medical exam. The Instant Term product offers a streamlined process for qualified applicants.
People interested in IUL for retirement income planning. The Growth IUL II offers competitive index options and bonus features that can enhance long-term accumulation.
Frequently Asked Questions
Is Ameritas Life Insurance financially stable?
Yes. Ameritas holds an A (Excellent) rating from A.M. Best, which they’ve maintained for 50 years. Standard & Poor’s rates them A+ (Strong). As a mutual-based company, they focus on long-term stability rather than short-term profits.
What living benefits does Ameritas offer?
Most Ameritas products include the Care4Life accelerated death benefit rider. This allows you to access a portion of your death benefit if you’re diagnosed with a qualifying critical illness, chronic illness, or terminal illness. The maximum benefit varies by condition, ranging from $250,000 for critical illness up to $1 million for chronic or terminal illness.
Does Ameritas offer no-exam life insurance?
Yes. The Ameritas Instant Term product provides coverage up to $2 million with no medical exam required. Approval depends on your answers to health questions on the application. This product isn’t available in New York.
Can I convert my Ameritas term policy to permanent insurance?
Yes. Ameritas term policies include conversion privileges that allow you to convert to permanent coverage without proving insurability. The conversion period varies by product, and you can extend it with the Conversion Extension Rider on the Value Plus Term product.
What index options are available with Ameritas IUL?
Ameritas IUL products offer multiple index options including the S&P 500, Russell 2000, MSCI EAFE, S&P MARC 5% Index, and BNP Paribas Momentum Multi-Asset 5 Index. Available options vary by product. All index accounts include a 0% floor to protect against market losses.
Key Takeaways
- Financially strong carrier with A.M. Best A (Excellent) rating maintained for 50 years and S&P A+ (Strong) rating
- Mutual-based structure means decisions prioritize policyholders over stockholders
- Three term options including instant-decision coverage and living benefits term
- Three whole life products designed for early cash value, long-term growth, or low-cost protection
- Two IUL products with multiple index options and competitive bonus features
- Care4Life rider provides living benefits access on most products for critical, chronic, or terminal illness
Ready to explore whether Ameritas is right for your situation? We’re happy to walk through the options and help you compare quotes.
