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American Amicable Review 2020
Is American Amicable a good life insurance company?
Without a doubt, yes, American Amicable is a great life insurance company. They are reliable and have been in the business for a long time. They also have a vote of confidence from A.M. Best which is one of the best rating agencies in the country. It’s certain that American Amicable is a great life insurance company…but the real question is whether or not it is a great company for you.
The only way to know if a life insurance company is a great choice for you is to know what everyone else is offering. Otherwise, how will you know if what American Amicable offers is the best or not? The best life insurance company for your aunt, sister, or friend is not always going to be the best life insurance company for you. That’s why you need to turn to someone who will be able to offer you answers not only about American Amicable but about many other life insurance companies as well.
American Amicable life insurance policies
American Amicable offers a variety of different types of life insurance, including term, final expense and universal life. They also put particular emphasis on their no medical exam options.
American Amicable term life insurance
They offer a no medical exam option for term as well as several term length options depending on your needs. The coverage amounts range from $25K-$250K.
They also have a return of premium rider available in case you outlive your policy. They also have a convertibility option where you can convert your term policy to a permanent policy without proof of insurability.
American Amicable final expense insurance
Final expense is a type of whole life policy that typically has a lower coverage amount and accumulates cash value. These policies are meant to cover any final expenses such as burial costs or medical bills.
American Amicable offers a final expense policy for those ages 0-85, though the state you live in determines the age range of availability. No medical exam is required for the final expense whole life policy.
Available at no extra cost are accelerated benefits including terminal illness where you can receive a portion of the death benefit if you are diagnosed with a terminal illness.
American Amicable universal life insurance
American Amicable also offers a universal life policy with no medical exam required. This universal life policy comes with flexible premiums and adjustable coverage amounts. The coverage amounts range from $25K-$250K. This policy also accumulates a cash value.
American Amicable A.M. Best Rating
A.M. Best gives American Amicable a stable "A" rating for financial strength, which the rating agency describes as "excellent." This rating has remained consistent since 2014, and was most recently affirmed on February 21, 2019.
Excellent financial stability is important for life insurance companies because it suggests an insurer like American Amicable will still be able to pay your beneficiaries a death benefit when the time comes.