When it comes to securing your family’s financial future, choosing the right life insurance provider is key. In this American Amicable Life Insurance review, we’ll cover their product offerings, company history, ratings, and the pros and cons to help you make an informed decision.
American Amicable Life Insurance Products
American Amicable offers a range of life insurance products tailored to meet the needs of individuals across different age groups and financial situations. Here’s a closer look at their core offerings.
Final Expense Insurance
American Amicable’s Final Expense Insurance is designed to cover funeral and burial costs, making it easier for families to handle these expenses during tough times.
- For Older Ages (50-85): Whole life coverage with face amounts ranging from $2,500 to $50,000. Simplified issue underwriting means there’s no medical exam required.
- For Younger Ages (0-49): Similar to the product for older individuals, this whole life policy covers up to $35,000.
These policies come with additional options like the Terminal Illness Rider, which allows policyholders to access a portion of their death benefit if they are diagnosed with a terminal illness.
Affordable Senior Life Insurance—Peace of Mind for You & Your Loved Ones
No Medical Exam. Guaranteed Coverage. Easy Approval.
Protect your family from unexpected expenses with a simple, affordable final expense plan. Get the coverage you need to ensure funeral costs don’t burden your loved ones.
🔹 Guaranteed Approval (Ages 50-85)
🔹 Fixed, Affordable Monthly Rates
🔹 Covers Funeral, Medical, & Other Final Expenses
Universal Life Insurance
American Amicable offers two flexible Universal Life policies:
- Express UL: Available for individuals aged 15 to 75, this policy features flexible premiums and no-medical-exam underwriting for coverage up to $99,999.
- SecureLife Plus: This policy offers a 20-year minimum guarantee and allows for policy loans after the first year.
Both products are ideal for those seeking flexibility and long-term coverage, with riders like the Waiver of Premium and Accidental Death Benefit.
Term Life Insurance
American Amicable’s Term Life Insurance is perfect for individuals seeking temporary coverage at an affordable rate.
- Easy Term: Offers 10, 20, or 30-year terms, with face amounts starting at $25,000. This policy requires no medical exam and includes available riders like the Critical Illness Rider and Children’s Insurance Agreement.
- Term Made Simple: Provides simplified underwriting for terms of 10, 15, 20, and 30 years, with coverage starting at $50,000. This policy is designed for ease and accessibility.
Specialized Products
American Amicable also offers specialized products like Home Protector (designed for mortgage protection) and Financial Lifeline (a modified whole life policy with an annuity rider). These products are ideal for individuals seeking to protect large financial obligations.
Riders Available with American Amicable Life Insurance Policies
American Amicable offers a variety of riders that can be added to their life insurance products to provide enhanced coverage:
- Critical Illness Rider: Provides a payout upon diagnosis of a critical illness such as cancer or a heart attack.
- Disability Income Rider: Protects your income in the event of total disability.
- Terminal Illness Rider: Allows policyholders to access a portion of their death benefit early if diagnosed with a terminal illness.
- Children’s Insurance Agreement: Offers coverage for children, which can be converted into a permanent policy without additional proof of insurability.
Comparison of American Amicable Life Insurance Products
| Product | Policy Type | Issue Ages | Face Amounts | Underwriting | Riders Available |
|---|---|---|---|---|---|
| Final Expense (Older Ages) | Whole Life | 50-85 | $2,500 to $50,000 | Simplified Issue, No Medical Exam | Terminal Illness, Accidental Death Benefit |
| Final Expense (Younger Ages) | Whole Life | 0-49 | Up to $35,000 | Simplified Issue, No Medical Exam | Terminal Illness, Accidental Death Benefit |
| Express UL | Universal Life | 15-75 | $25,000+ | No Medical Exam up to $99,999 | Waiver of Premium, Accidental Death Benefit |
| SecureLife Plus | Universal Life | 0-80 | $10,000+ | No Medical Exam for certain limits | Waiver of Premium, Terminal Illness |
| Easy Term | Term Life (10, 20, 30 years) | 18-70 | $25,000+ | Simplified Issue, No Medical Exam | Critical Illness, Disability Income, Children’s Insurance |
| Term Made Simple | Term Life (10, 15, 20, 30 years) | 18-75 | $50,000+ | Simplified Issue, No Medical Exam | Terminal Illness, Confined Care, Chronic Illness |
History of American Amicable Life Insurance
American Amicable has been providing life insurance solutions since 1910. Headquartered in Waco, Texas, the company has grown from a local provider to one of the leading names in life insurance across the U.S.
In 2010, American Amicable was acquired by Industrial Alliance Insurance and Financial Services Inc., a large Canadian insurer. This acquisition strengthened American Amicable’s financial standing, and today, the company operates several subsidiaries, including:
- Occidental Life Insurance Company of North Carolina
- IA American Life Insurance Company
- Pioneer Security Life Insurance Company
- Pioneer American Insurance Company
Over the years, American Amicable has focused on offering simplified life insurance products, catering to a wide audience, from young families to seniors looking for final expense coverage.
American Amicable Life Insurance Ratings
A.M. Best Rating: A (Excellent)
American Amicable holds an “A” rating from A.M. Best, reflecting its strong financial stability and ability to meet policyholders’ claims. This rating is critical for anyone seeking life insurance coverage, as it ensures the company’s long-term financial security.
Better Business Bureau (BBB) Rating: A+
American Amicable is accredited by the Better Business Bureau (BBB) with an A+ rating, which indicates excellent customer service and a strong record of resolving customer complaints.
Customer Complaints and Feedback
Though American Amicable receives generally positive reviews, some customers have expressed concerns over premium increases with age. The National Association of Insurance Commissioners (NAIC) reports a medium level of complaints for American Amicable, which is typical for life insurance companies.
Conclusion: Should You Choose American Amicable Life Insurance?
American Amicable offers a variety of life insurance products that cater to different needs, from young families to seniors. Their no-medical-exam policies and wide range of riders make their products both flexible and affordable. With strong financial ratings and over a century of experience, American Amicable is a solid choice for life insurance coverage.
If you’re looking for simplified, no-hassle life insurance, American Amicable’s policies may be the right fit for you. Ready to explore your options? You can start by using the quoter on this page to get a free quote. See how American Amicable can help secure your family’s future.
American Amicable Frequently Asked Questions (FAQs)
Does American Amicable require a medical exam for life insurance?
No, most American Amicable life insurance policies, including Final Expense and Term Life Insurance, do not require a medical exam. Simplified issue underwriting makes it easy to get coverage.
What riders can I add to my American Amicable policy?
American Amicable offers several riders, including the Critical Illness Rider, Disability Income Rider, and Terminal Illness Rider, allowing policyholders to customize their coverage.
How financially stable is American Amicable?
American Amicable holds an A rating from A.M. Best and an A+ rating from the BBB, indicating strong financial stability and a solid reputation for customer service.
What is American Amicable’s most popular product?
American Amicable’s Term Made Simple policy is one of their most popular products, offering simplified issue underwriting with no medical exam required. It’s ideal for those seeking quick and affordable coverage.
