American Amicable Insurance Review & Ratings (2024)

American Amicable Insurance provides a detailed exploration of the company’s offerings and performance. Established in 1910, American Amicable specializes in life insurance and annuities, offering term, whole, universal, and modified life policies for individuals up to 85 years old.

The company stands out for many policies not requiring a medical exam, making it accessible for those with minor health concerns. The article delves into specific details of each policy type, including coverage amounts and features.

Financially, American Amicable holds an A rating from A.M. Best and an A+ rating from the Better Business Bureau, though the NAIC complaint index indicates a slightly higher complaint rate compared to peers. The review emphasizes the importance of comparing rates, understanding available discounts, and considering customer feedback when evaluating American Amicable as a life insurance provider.

What You Should Know About American Amicable Insurance

Welcome to our comprehensive American Amicable Insurance review and ratings. In this article, we will delve into the essential aspects of American Amicable Insurance, including real user feedback on satisfaction, claims, cost, billing, and service. We’ll explore their life insurance products, such as term, whole, universal, and modified life policies, and provide insights into their rates and industry ratings.

To ensure you make the best insurance decision, we encourage you to enter your ZIP code below and compare quotes from top insurance providers in your area. Take the first step towards securing the right coverage for your needs.

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How can I contact American Amicable Life Insurance Company?

The main American Amicable customer service phone number is (800) 736-7311. The website is www.americanamicable.com. You can also email [email protected].

The American Amicable headquarters is located at 425 Austin Avenue, Waco, TX 76701. The company’s mailing address is PO Box 2549, Waco, TX 76702.

American Amicable Insurance Coverage Options

American Amicable offers term, whole, universal, and modified life insurance policies for people up to 85 years old.

Term Life Insurance

American Amicable offers two different term life insurance policies. The first is a non-medical policy, meaning you don’t need to take a medical exam to qualify. Coverage ranges from $25,000 to $250,000. The company doesn’t specify term length options, but it is convertible to a permanent policy.

The second term life insurance option from American Amicable is Association Term Life. This is a group plan for government employees, First Responders, state-funded school employees, hospital employees, railroad employees, and their spouses between 18 and 65.

The Association Term Life policy does not require a medical exam. It is available in 10-year terms.

Whole Life Insurance

American Amicable’s whole life insurance policies are typical whole life policies. These policies do not require a medical exam, and they include accelerated benefits, such as terminal illness and confined care.

These policies also have cash value accumulation, fixed premiums, and fixed death benefits. However, the company’s website doesn’t specify coverage amounts or other information.

Universal Life Insurance

American Amicable offers both non-medical and fully underwritten universal life insurance.

The non-medical policy does not require a medical exam and offers coverage from $25,000 to $250,000. Premiums are flexible, and death benefits are adjustable. As long as you pay your premiums, your policy comes with a 15-year no-lapse guarantee.

The fully underwritten policy requires a medical exam, blood work, and a medical questionnaire. Premiums are flexible, and death benefits are adjustable.

The company does not specify a maximum coverage amount. As long as you pay your premiums, your policy comes with a no-lapse guarantee.

Modified Life Insurance

Unfortunately, American Amicable is vague about what this product is. From the short description available, it seems that it may be referring to the fact that you can add a cash value option to your term or whole life insurance.

Should I buy American Amicable life insurance?

American Amicable life insurance policies may be the right choice for some individuals, especially those with minor health concerns since there is no medical exam required for many of their policies. The company also has less strict age requirements than other companies.

However, some customers have expressed concerns about rates increasing significantly with age and not getting clear information about the company, their products, or application processes online.

In general, American Amicable offers some good basic life insurance policies, but you may want to compare them to other life insurance companies. If you need help finding affordable life insurance, enter your ZIP code into our free quote comparison tool below.

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American Amicable Insurance Rates Breakdown

American Amicable provides a range of life insurance products, and the rates can vary significantly based on factors such as policy type, coverage amount, and individual characteristics.

Factors Affecting Rates

• Age: Rates are influenced by the insured individual’s age, with older individuals potentially facing higher premiums.
• Gender: Gender may be a factor in determining rates, with variations between male and female policyholders.
• Health: Health conditions and the absence of a medical exam in many policies can impact the rates offered.
• Policy Type: Different types of life insurance policies (term, whole, universal) have varying premium structures.
• Coverage Amount: The chosen coverage amount directly affects the premium, with higher coverage leading to higher rates.
• Location: Geographic factors may contribute to rate variations.

Internal Linking Opportunities

• Term vs. Whole Life: Create links to detailed pages comparing term and whole life insurance, helping users understand the trade-offs between temporary coverage and lifelong protection.
• Health Impact on Rates: Link to resources explaining how health conditions influence life insurance rates, emphasizing the benefits of maintaining good health.
• Coverage Amount Guide: Provide links to guides helping users determine the optimal coverage amount based on their financial situation and goals.
• Policy Conversion Options: If applicable, create links explaining the process and benefits of converting term policies to permanent ones.
• Customer Testimonials on Rates: Link to customer reviews or testimonials discussing their experiences with American Amicable’s rates, providing real-world perspectives.

By strategically incorporating these internal links, readers can navigate seamlessly through the article, gaining insights into specific aspects of American Amicable’s insurance offerings and related information.

American Amicable Insurance Discounts Available

Discovering potential discounts on your life insurance policy can lead to significant savings while ensuring you have the coverage you need. American Amicable offers various discounts that policyholders can take advantage of, providing opportunities to tailor their coverage to their specific circumstances.

• Multi-Policy Discount: Save by bundling life insurance with other insurance products, such as home or auto insurance.
• Good Health Discount: Qualify for lower rates by maintaining good health and meeting specific health criteria.
• Non-Smoker Discount: Enjoy reduced rates if you are a non-smoker or have been tobacco-free for a certain period.
• Preferred Customer Discount: Reward for policyholders with a favorable risk profile, often based on factors like health, lifestyle, and medical history.
• Annual Payment Discount: Receive a discount for choosing to pay the annual premium upfront instead of monthly.
• Loyalty Discounts: Rewards for long-term policyholders who have maintained coverage with the company.
• Military or Employee Discounts: Special discounts for military personnel or employees of specific organizations, if applicable.
• Safe Lifestyle Habits Discount: Savings for individuals who demonstrate safe and healthy lifestyle choices.
• Early Enrollment Discount: Incentives for enrolling in a life insurance policy at a younger age.
• Group or Association Discounts: Discounts for being part of a specific group or association eligible for special rates.
• Policy Bundle Discounts: Additional savings for combining multiple life insurance policies or adding riders to a base policy.
• Educational Discounts: Discounts for policyholders who have completed certain educational courses related to financial planning or risk management.

Before finalizing your life insurance plan, be sure to inquire about these discounts, ensuring you not only get the coverage you need but also make the most of opportunities to save. Secure your future with a policy that aligns with your unique circumstances and provides the financial peace of mind you deserve.

How can I get a quote or file a claim?

To receive American Amicable life insurance quotes, you must contact an agent who sells American Amicable products. You can fill in your contact information on the company’s website to have an agent get in contact with you.

American Amicable makes claims forms available to policyholders on its website. To get help with the claims process, you can call (800) 736-7311 or email [email protected].

You may also contact your insurance agent to get help. They may be able to use their American Amicable agent login to help you with the process.

You should let your beneficiaries know how to make claims since the NAIC reports that most beneficiaries are not equipped with the information they need to file claims.

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How American Amicable Insurance Ranks Among Providers

American Amicable Insurance appears to hold a competitive position within the life insurance industry. Here’s the list for the factors in comparison with other insurance providers:

• Financial Strength: American Amicable boasts an A rating from A.M. Best, indicating excellent financial strength. In comparison with industry peers, this places the company among those with a robust ability to meet financial obligations and fulfill claims.
• Customer Satisfaction: The Better Business Bureau (BBB) awards American Amicable an A+ rating with a 2.86/5-star customer satisfaction rating. Comparing this with other providers in the industry can provide insights into the overall customer experience.
• Industry Ratings: American Amicable’s NAIC complaint index of 1.45 suggests a slightly higher complaint rate compared to similar-sized companies. Benchmarking this against industry averages helps gauge customer satisfaction levels relative to competitors.
• Product Offerings: Evaluate the diversity and flexibility of American Amicable’s life insurance products in comparison with other industry players. A comprehensive product range enhances competitiveness and ensures suitability for a wide range of customer needs.
• Rates and Affordability: Analyze American Amicable’s average rates for various policy types and demographics in comparison to competitors. Understanding how the company’s rates stack up against industry norms provides a clearer picture of affordability.
• Discount Programs: Compare American Amicable’s discount programs with those offered by other providers. Assessing the uniqueness and competitiveness of these incentives contributes to understanding the overall value proposition.
• Online Resources and Accessibility: Examine the clarity and accessibility of information provided by American Amicable online. Compare their digital presence, customer portals, and educational resources with those of peer companies to ensure alignment with modern expectations.
• Industry Rankings: Investigate any industry rankings or awards received by American Amicable and compare them with recognitions given to other insurance providers. This helps gauge the company’s standing within the broader industry landscape.
• Policyholder Reviews: Review policyholder testimonials and reviews for American Amicable, comparing them with feedback for other insurance providers. Identifying common themes and sentiments contributes to a more comprehensive understanding of customer experiences.
• Claims Process: Evaluate the efficiency and customer satisfaction with American Amicable’s claims process relative to industry benchmarks. A streamlined claims experience is crucial, and understanding how the company compares in this regard is essential.

By considering these factors in comparison with other insurance providers, individuals can make informed decisions about whether American Amicable aligns with their expectations and preferences within the competitive landscape of the life insurance industry.

Are American Amicable ratings positive?

American Amicable has an A+ rating from the BBB. It has only had eight complaints in the past 12 months on the BBB website, and it has a 2.86/5 star rating.

American Amicable has a financial strength rating of A from A.M. Best, which means it has an excellent ability to meet its financial obligations, such as paying claims.

The NAIC gives all registered insurance companies a complaint index, which will refer to how many customer complaints a company gets compared to other companies of a similar size. The national median complaint index is 1.00.

American Amicable has a complaint index of 1.45, meaning it gets more complaints than other companies of a similar size.

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