American Amicable Life Insurance Company



american amicable life insurance

In 2010, Industrial Alliance purchased American-Amicable Insurance Company of Texas for about $145 million. Although that seems fairly recent, American Amicable has a substantially longer history than that. The organization was established in Texas way back in 1910 and has been providing innovative life insurance strategies since they were founded.

Traditionally anchored on a cornerstone of financial stability, trustworthy management, and an intense commitment to every insured, American-Amicable Life Insurance Company of Texas looks to the future with terrific excitement.

Industry Ratings

A.M. Best Company is one of the most trustworthy third-party reporting and evaluation companies in the industry. They have awarded American-Amicable an “A” or “excellent” rating. A.M. Best maintains 15 rating classifications, of which “A” is the third strongest. This ranking was awarded in February 2015. Any time you study the ratings of any insurance company, it is important to understand when the rating was awarded, so you will know how up-to-date it is.

With over 100 years of insurance industry experience, American-Amicable operates as a group of companies that consists of:

  • American-Amicable Life Insurance Company of Texas
  • IA American Life Insurance Company
  • Occidental Life Insurance Company of North Carolina
  • Pioneer American Insurance Company
  • Pioneer Security Life Insurance Company

The “A Excellent” rating awarded by A.M. Best (third highest out of 15 categories) is assigned to all five insurance companies in the group.

Final Expense Products from American Amicable

In an attempt to provide solid life insurance solutions for a vast group of applicants, American Amicable offers four types of insurance products for prospective customers to consider:

Ordinary Whole Life Insurance

The ordinary whole life product is considered the perfect solution for prospective customers needing final expense insurance.

Since the policy is built on the whole life insurance foundation, it is a guaranteed insurance solution that provides coverage for a lifetime as long as the periodic premium is paid.

The policy can only be canceled for non-payment, the periodic premiums cannot be increased by the insurance company, and the policy builds cash value that can be accessed through policy loans or surrender.

  • Issue ages are 0 to 85 but can vary in some states.
  • The maximum death benefit is based on the health and age of the applicant.
  • An accelerated death benefit rider is available at no additional charge.
  • There is no requirement for a medical exam or blood work.

Simplified Issue Term

The simplified issue term product is a great choice for covering every life insurance need. The applicant can choose from several different term periods, and the available death benefit ranges from $25,000 to $250,000. Other highlights of Simplified Issue Term include:

  • Return of Premium option available.
  • Convertible to permanent insurance like whole life or universal life without proof of insurability.

Universal Life Insurance

American Amicable provides universal life insurance on a non-medical and fully underwritten basis. It is an affordable solution for getting flexible insurance coverage with limits sufficient to protect your family.

The non-medical selection allows the insured to purchase coverage for up to $250,000 without having to undergo a medical exam or blood and urine testing. When minimum premiums are paid, the policy is guaranteed not to lapse for 15 years.

The fully underwritten selection typically requires a medical exam along with a blood test but can provide a death benefit with no maximum amount. Like all universal life policies, this selection accumulates substantial cash value over time which can be accessed through policy loans or partial surrenders. There is a no-lapse guarantee as long as the minimum premium amount is paid.

Modified Life Insurance

 The modified life insurance solution is available for applicants who because of health conditions, will not qualify for any other life insurance coverage. Options available include:

  • Premiums to age 100
  • Guaranteed cash value
  • Guaranteed death benefit
  • Accelerated death benefit rider
  • Policy loans
  • Other optional riders available

American Amicable Life Insurance Company provides solid solutions for a variety of insurance needs and backs up their products with outstanding customer service to agents and policyholders.

Agency Review

Without question, American Amicable is a fantastic life insurance company. They are highly regarded and trustworthy and have been operating in the insurance industry for over 100 years. They also have an excellent rating from A.M. Best, considered one of the best rating agencies in the country. It is quite certain that American-Amicable is a fantastic life insurance company, but the proper question is whether or not it is a fantastic company for you, the prospective policyholder.

The only real way to find out if any life insurance organization is an ideal solution for you is to be familiar with what everyone else is offering. If you don’t, how will you find out if what American Amicable offers is the very best solution or not? The best life insurance company for your family, friends, or coworkers, may not necessarily be the best life insurance company for you. That’s precisely why you will need to turn to somebody who will be able to provide you with answers not only regarding American Amicable but also concerning many other life insurance companies in the marketplace.

For more information about America Amicable Life Insurance Company or any of the many other insurance carriers we represent, call the insurance professionals at Docktor’s Insurance at (888) 773-1181 during normal business hours, or contact us for a free and confidential quote through our website at your convenience.
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