So, you’re looking for a life insurance policy and American Amicable is on your short list of choices. Before you buy a life insurance policy from American Amicable, it’s important to learn about them and the policies they offer. Lucky for you, you’ve come to JustBuryMe. American Amicable ranks as one of our top burial final expense life insurance companies.
About American Amicable
American Amicable has its headquarters in Waco, Texas. American Amicable has been in the business of helping individuals with their life insurance needs since 1910. In 2010, American Amicable was bought by Industrial Alliance in 2010 for $145 million.
American Amicable Ratings
When you buy a life insurance policy, it’s important to look into the ratings granted to the life insurance company you’re considering to use. American Amicable has been rated “A” by A.M. Best, one of the best and most reliable rating agencies in the business. A rating of an “A” means “excellent” and is only granted to the top life insurance companies around. American Amicable received this rating in the beginning of 2015.
American Amicable’s Life Insurance Products
Final Expense/Ordinary Whole Life Insurance
When looking for the top final expense insurance or burial insurance you need to make sure American Amicable is in the mix. American Amicable’s whole life policy is intended to help you make sure your family and loved ones are prepared for the costs of your death. Dying isn’t free and after funeral, burial, and casket costs, a funeral can run upwards of $10,000. It’s important to be prepared for this, and American Amicable’s Ordinary Whole Life Insurance helps you to do that.
- Issued for people up to 85 years of age
- Premiums do not increase over time: your premiums are guaranteed
- You do not have to take a medical exam or provide any kind of blood work
- This policy does have a cash value should you need the money prior to your death
Ordinary Whole Life policies are intended only to cover your final expenses.
Term Made Simple
American Amicable’s term life insurance. The product is considered simplified issue life insurance and offers a level (i.e. fixed) premium for the term of the policy. See the differences between simplified issue and guaranteed issue life insurance.
Prospective clients will be asked a series of health questions. In addition, there will be a background check into prescription use, Motor Vehicle Report, and Medical Information Bureau. Some of the main features of the product are:
- Face amounts range from $50,000 to $400,000
- Term lengths include: 10, 15, 20 and 30 year level premium
- Health classes available: Preferred, Standard and Standard Tobacco
- Liberal build chart requirements
The policy also comes with many life insurance rider options including:
- Accelerated Death Benefit
- Waiver of Premium
- Terminal Illness
- Chronic Illness
- Conversion Option
Simplified Issue Term
If you want to get coverage for a certain amount of time – say, until your children become adults—then you may want to consider a Simplified Issue Term policy. Most people opt for 10 years of coverage knowing that they can renew/extend the policy should they choose.
- Issued for people 16-65 years of age
- No medical exam required
It is important to note that this policy is not open to the general public. It is only open to employees of:
- Government bodies (county, city, state, federal)
- State-funded educational institutions such as universities
- Emergency responders
- Spouses of the above
American Amicable offers two types of universal life insurance: Non-medical and Fully Underwritten Life Insurance.
Non-Medical Universal Life: As the name suggests, you will not need to take a medical exam of any kind. You will qualify for this regardless of your health status, making this a great choice for persons with chronic illnesses, high blood pressure, or any other health-related problem that may make it hard to qualify for another life insurance policy.
Fully Underwritten Universal Life: You will be asked some basic medical questions before qualifying for this policy. If you have good health, these questions should actually help you to get a cheaper premium than the non-medical universal life insurance policy.
If you need to “make your own life insurance” then this is the life insurance policy for you. American Amicable allows you to mix and match to come with the type of life insurance that is best suited for your needs.
Should I purchase a life insurance policy from American Amicable?
If you are considering to buy a life insurance policy from American Amicable, then rest assured it’s a great choice. However, whether or not it’s the best choice for you, we cannot tell you until we know something about you.
When you choose a life insurance policy, your own personal life situation will definitely be an important factor. Life insurance companies aren’t one-size-fits-all; certain life insurance companies and policies may be better for some people and not for others. It’s impossible to write a blog post to truly tell you if American Amicable is your best option. However, if you really want to know if they’re the best life insurance company for you, then you just need to call Just Bury Me.
Just Bury Me works with dozens of life insurance companies around the United States, including American Amicable. Once we get to know about you, we can tell you if American Amicable is right for you. And trust us; we’ll never try to sell you a policy for the sake of it. Our goal is simply to help you get the best life insurance coverage possible—even if that means telling you that American Amicable isn’t the best life insurance company for you.
So what are you waiting for? Call American Amicable for a free consultation today!
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