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Americo Financial Life and Annuity Insurance Company Review

Americo Financial Life and Annuity Insurance Company Review

It’s time for you to get serious about purchasing a life insurance policy to cover your final expenses. Americo Financial Life and Annuity Insurance Company is one great option for a life insurance company, but before you choose Americo, you should find out some more information about all they have to offer. JustBuryMe is here to help.

About Americo Financial Life and Annuity Insurance Company

Americo has been in the insurance business for over a century. They currently have more than $30 billion of life insurance in force, covering more than 650,000 policies. Americo is the coming together of multiple life insurance companies. It started with The College Life Insurance Company, The Ohio State Life Insurance Company and Great Southern Life Insurance Company. These companies joined together to form the company we know today as Americo. Along the way, they have acquired companies such as Keystone, Puritan Life, United Fidelity Life and more.

Financial Strength of Americo

A.M. Best—which is one of the most respected rating agencies in the business, gave Americo a rating of “A” or “excellent”. This is a great rating and speaks of the company’s:

  • Stability
  • Financial strength
  • Future outlook
  • Ability to pay claims

If you are considering a policy from Americo, this rating should make you feel good about your decision. But don’t stop researching just because the rating is good. You still need to find out if Americo offers a life insurance policy right for you.

Ultra Protector Series from Americo

Americo offers three different final expense life insurance policies, all under their Ultra Protector Series. The Ultra Protector Series includes simplified issue and guaranteed issue coverage:

  • Ultra Protector 1
  • Ultra Protector 2
  • Ultra Protector 3

The main difference is between Ultra Protector 1 & 2 and Ultra Protector 3: Ultra Protector 3 has a 3-year graded death benefit whereas 1 &2 have full death benefit from day one. Ultra Protector 3 also offers full death benefit for accidental deaths.

What else does the Ultra Protector Series offer?

The Ultra Protector Series offers minimal coverage- the maximum amount of coverage is $30,000. This is standard for a final expense insurance policy. Remember, the main objective of purchasing an Ultra Protector Series life insurance policy is to ensure that your loved ones and beneficiaries can cover the cost of your funeral and burial/cremation. This is not intended to provided supplementary income long after you’re gone.

Other things to know about Ultra Protector Series:
  • Issued for ages 50-85
  • Rates don’t increase
  • The policy will still be active even if your health declines
  • Ultra Protector 3 is a guaranteed issue policy
  • Ultra Protector 1 has a terminal illness benefit

The Upsides of Americo’s Ultra Protector Series

The best thing is that Americo has three great solutions for final expense life insurance coverage. Many final expense and burial life insurance companies only offer one final expense product. If you’re still in relatively good health and don’t mind answering a few questions, then you can get a reduced rate. If you are afraid your current health may prohibit you from qualifying for life insurance, then they have a guaranteed issue policy. Basically, with three options for final expense insurance, you have a bit of flexibility – which is not something you get with all final expense insurance policies and plans.

Should I purchase a life insurance policy from Americo?

This is a tricky question. As we mentioned, Americo is definitely a great life insurance company. You’ll be sure to get reliable coverage and chances are you won’t be dissatisfied. However, to answer the question of whether or not Americo is the best for you- well, that takes a little more digging.

Is it possible to know if Americo is best for me just by reading up online?

If you want personalized life insurance answers, then reading up on the internet will only get you so far. The truth is to know which life insurance company will offer you the best deal and the best coverage, you will need to have a personalized consultation.

JustBuryMe works with some of the best life insurance companies in the business. We often recommend Americo to our clients, but we also won’t be afraid to tell you if another life insurance company might just have more to offer you. We will make a recommendation that makes the most sense for you and your situation.

So what are you waiting for? Call JustBuryMe today and get a free consultation to find out if you should purchase a life insurance policy from Americo.

Thank you for reading our Americo Financial Life and Annuity Insurance Company review. Please leave any questions or comments below.