If you are looking for a solid review about American Amicable Life Insurance Company, then you have come to the right place. We understand how difficult it is to find the best life insurance company to receive coverage from because there are just so many to choose from. However, we can’t even begin to understand why reviews are so biased nowadays. How can you know as a consumer that the information given in those reviews are legit if all they keep doing is say how amazing and fantastic they are? Here at InsureChance, we provide the most unbiased and informative reviews because we are an independent life insurance brokerage with absolutely zero ties to these companies. American Amicable Life is one of the many top “A” rated companies and has a vast variety of life insurance products to fit every consumer needs. Nonetheless, you as a consumer should always shop around when it comes to life insurance, just like you would shop around for deals when looking to buy a car. The following are some key points from the article about American Amicable Life;
- American-Amicable Life Insurance Company of Texas has its roots going as far back as 1909.
- American-Amicable Life made history when they built their new office building, which is now a historical site.
- It wasn’t until 1911 when the building finished being built and became the tallest building west of the Mississippi River and south of the Mason-Dixie line until 1929.
- In 2010 American-Amicable Life Insurance Company of Texas was acquired by Industrial Alliance Insurance and Financial Services Inc.
- They are also one of the many top “A” rated companies in the market. A.M Best rates American Amicable an A for excellent, which is the third highest rating out of 15 categories.
- American Amicable offers Term life, Whole life, Universal life, Modified Whole life, Group Term, Critical illness, and Final expense insurance.
- An insurance company’s rating is an important factor when looking for life insurance because it shows how financially stable the company is. If the company has a low rating it simply shows that the company will be vulnerable if disaster strikes.
American Amicable Review and Rating 2017
American Amicable is well known for their innovative life insurance products and their beautiful building in which they call home. They are also one of the many top “A” rated companies in the market. A.M Best rates American Amicable an A for excellent, which is the third highest rating out of 15 categories. This rating was given to the company on February of 2015. A.M Best does not go around giving companies an “A” rating, as a matter of fact, they go through intensive research to be able to come up with this rating. This rating simply means that they are financially stable. American Amicable offers Term life, Whole life, Universal life, Modified Whole life, Group Term, Critical illness, and Final expense insurance. Like we mentioned before, they are one of many companies and shopping around is one of the best things you can do to make sure you are getting the best rate and quote possible.
Products
American Amicable offers a wide selection of life insurance products in order for them to meet the needs of every individual. They offer Term life, Universal life, and Modified Whole life. They even have products such as annuity and disability income insurance. Before we go into detail about all of American Amicable’s life insurance products, we would like to take some time to define these different types of life insurance products. Term life insurance is coverage that is only for a specified short period of time. Universal life insurance is coverage that allows you to earn some credit as long as your premiums are being paid. A Modified Whole life insurance plan allows you to have lower premiums in the beginning years of the policy. Final Expense insurance is coverage for all the expenses your loved ones will face after your death such as burial and funeral costs.
Term Made Simple
- This policy is the most affordable type of insurance.
- Your protection is available in 10, 15, 20, or 30-year plans.
- Your rates with Term Made Simple will be fixed or leveled meaning your rates will not fluctuate with time, it will stay the same from the beginning to the end.
- Life insurance Death benefit amounts available, start at $50,000 up to $400,000.
- Term to 95 with guaranteed premiums is available.
- Death benefits will be income tax-free with this policy.
- At any time of this policy, you can convert to a permanent plan of insurance without any evidence of insurability.
- With this product, you will be able to have the Terminal Illness Accelerated Benefit Rider with no additional cost. This rider will pay you 100% of the face amount if you’re diagnosed as terminally ill, to help pay for medical bills.
- You will also have the Accelerated Benefits Rider with no additional cost, which means you will be confined to a nursing home at least 30 days after the policy is issued with a monthly benefit of 2.5% of the face amount and up to $5,000 per month.
- The Chronic Illness Accelerated Benefit Rider is also available with no additional cost, and it allows you to accelerate a portion of your death benefit if you are unable to perform at least two activities of daily living such as; bathing, eating and toileting.
- Optional policy riders at a small cost include; Accidental Death Benefit, Accelerated Living Benefit Rider, Children’s Insurance Agreement Rider, Total Disability Benefit Rider, Waiver of Premium Rider, and Waiver of Premium for Unemployment Rider.
Easy Term Simplified Issue Term/ Non-Med Term
- This policy doesn’t require a medical exam at all.
- Guaranteed level premium periods are available in 10, 20, or 30-year term.
- For 20 and 30-year terms, the Return of Premium rider is available.
- Return of Premium returns the base policy premium, policy fee, and model amount.
- Highest rate possible is Standard.
- After the selected level premium period, the policy can be annually renewed up to age 95.
- This policy can be converted to any Whole life plan up to age 75.
- For a 10-year term, issue ages are 18-70.
- For a 20-year term, issue ages are 18-65.
- For a 30-year term, issue ages are 18-55.
- Minimum $25,000 face amount
- Maximum face amount is $250,000.
- You must pay a $60 annual fee for this policy.
- Terminal Illness Accelerated Benefit rider is included in your premiums which means you can receive 100% of the death benefit if you have a life expectancy of 12 months or less.
- Accelerated Benefits Rider is also included in your premiums and offers a full time, permanent residence in a nursing home.
- Optional policy riders at a small cost include; Accidental Death Benefit, Accelerated Living Benefit Rider, Children’s Insurance Agreement Rider, Total Disability Benefit Rider, Waiver of Premium Rider, and Waiver of Premium for Unemployment Rider.
Easy UL Simplified Issue Universal Life
- This policy is available for ages 0-75.
- The face amount is minimum $25,000.
- The face amount is maximum $250,000.
- This product has a fixed interest rate of 3.2%
- No-Lapse Guarantee is available and if your premiums are paid your death benefit will be guaranteed for a period of at least 15 years.
- Illustration Software provides consumers the flexibility to quote premiums easily.
- You can choose to have a level death benefit or increasing death benefit.
- The Terminal Illness Accelerated Benefit Rider is included at no cost and you can receive up to 100% of the death benefit if you have a life expectancy of 12 months or less.
- Optional policy riders at a small cost include; Accidental Death Benefit, Accelerated Living Benefit Rider, Children’s Insurance Agreement Rider, Total Disability Benefit Rider, Waiver of Premium Rider, and Waiver of Premium for Unemployment Rider.
Financial Lifeline Modified Whole Life
- This policy offers guaranteed permanent life insurance.
- During the first year, all of your premium payments will go to pay the life insurance premium and optional benefit riders of your policy and is payable at age 100.
- Beginning the second year, one-half of the premiums still pay for Whole life insurance and riders but the other half will go toward the tax deferred annuity vehicle of your choice.
- After age 65 or 5 years late your death benefit reduces by 50%
- Your death benefit proceeds that are paid to your beneficiaries, will not be subject to federal income tax.
- You can build cash value and that cash value will also not be subject to federal income tax.
- You have access to your cash value in case of emergencies through loans or by borrowing against your policy.
- Optional policy riders at a small cost include; Accidental Death Benefit, Accelerated Living Benefit Rider, Children’s Insurance Agreement Rider, Total Disability Benefit Rider, Waiver of Premium Rider, and Waiver of Premium for Unemployment Rider.
Work with InsureChance!
In conclusion, American Amicable is reputable and is among the many top “A” rated companies. The company has been around for 130 years and their building has become a historical landmark. American Amicable offers easy products whom which everyone can enjoy with their quick and easy underwriting. Before you settle on a company we highly recommend that you shop around with all the top carriers to see what you can get. Luckily, you can get this done right here on our site by choosing a comparison tool based on plans you inquire. By the way our service is free to you and we will help you from finding the right plan to getting your policy delivered to your mailbox.
