American National Insurance Review 2018: Amazing Products and Rates

Review of American National Insurance Company (ANICO)

Review of American National Insurance Company (ANICO)

If you are looking for American National Insurance Company Reviews, you are in the right place! American National, also known as ANICO Direct, is a top rated no medical exam life insurance company and currently in both our best rated life insurance companies , our best no medical exam life insurance companies and even our best final expense insurance companies list. There is no denying, ANICO is an awesome life insurance company. Keep reading to find out why.

ANICO is one of our primary life insurance choices because of the company’s dedication to innovation. In addition, American National also ranks as one of the most affordable life insurance companies, consistently ranking in the top ten for various life insurance rates, face amount, and term brackets. The following article focuses on the pros and cons of American National Insurance Company’s life insurance products.

About American National

Founded in 1905 by W.L. Moody Jr. with 10 employees, $100,000 in capital, American National Insurance Company and American National Life Insurance Company of New York has grown by leaps in bounds. As of September 25, 2017, American National announced a significant milestone, over $100 billion in life insurance in force, representing all policies currently active.

In July 2017, American National was named to Forbes’ 2017 “Most Trustworthy Financial Companies” List. Forbes chooses the companies on its list based on the company’s accounting and governance practices. This is further testament to what a fantastic company American National is.

American National Insurance Company’s Ratings

Any good review of American National Insurance Company (ANICO) will need to address the company’s strong ratings. Both A.M. Best and Standard and Poor’s rates American National an “A” rating.

A.M. Best’s ratings are given after thorough analysis into American National’s profitability, leverage and liquidity. An “A” rating from A.M. Best means that Best considers American National to be in excellent condition financially. This is great news for anyone who is insured by American National as it reflects the company’s ability to pay a claim as soon as possible.

Standard and Poor’s also offers an “A” rating to American National, adding further credence to its excellent rating from A.M. Best, the premier rating agency for life insurance companies.

Products offered by American National Insurance Company

ANICO offers a wide range of protection to meet your every insurance need including:

Life Insurance
  • Term Life
  • Whole Life
  • Universal Life
  • Indexed Universal Life
  • Variable Universal Life
  • Credit Life
  • Fixed Deferred Annuities
  • Indexed Deferred Annuities
  • Variable Deferred Annuity
  • Single Premium Immediate Annuity
Health Insurance
  • Medicare Supplement insurance
  • Supplemental Health Insurance
  • Credit Disability Insurance
  • Employer Stop Loss Insurance
Property and Casualty
  • Personal Insurance
  • Business Insurance
  • Agribusiness Insurance

For our purposes in this ANICO review we will be focusing on the various types of life insurance policies offered.

Life Insurance Policies offered by American National

American National Life InsuranceANICO offers a full range of products. When deciding between the different options it is important to understand the differences between term life vs whole life.

Term life is temporary coverage that provides a fixed premium and death benefit for the length of the term. Permanent life insurance last the rest of your life and builds cash value.

American National excels at both types of coverage, as you will see shortly. Another thing that will quickly become clear is that ANICO is an innovator in the industry.

American National Accelerated Underwriting

American National is one of the best accelerated underwriting life insurance companies available. For larger cases, up to a million dollars of life insurance, American National offers Xpress Plus, which provides automated underwriting for all the company’s individual life insurance policies offered.

The basic requirements for Xpress Plus are you must be ages 0-50 for up to $1,000,000 of coverage or ages 51-60 for up to $500,000 of coverage. If everything on your electronic app checks out you can bypass the life insurance medical exam.

For lower face amounts on ANICO’s Signature Guaranteed UL, Signature IUL, Signature Plus IUL, Affinity 7 Whole Life, ANICO Executive UL  & Signature Term, you can qualify for non-med underwriting for face amounts of $250,000 and below for ages 17-65. ANICO may check the MIB, prescription database and motor vehicle records of applicants.

Underwriting Niches

Another advantage of American National’s underwriting is the more flexible health criteria for clients age 61 and above, allowing for higher body mass index (BMI), blood pressure readings and cholesterol ratios.

  • Cigar and smokeless tobacco users whose use only 2 times a month can qualify for a preferred plus rate class.
  • Well controlled sleep apnea may qualify for a preferred rate class.
  • Situational anxiety or depression may qualify for a preferred rate class.
  • Diabetic applicants with well controlled history may qualify for standard plus rate class.
Eagle Advantage Rate Class Improvement

American National’s Eagle Advantage is a program offered by ANICO that helps identify cases that deserve rate class improvement. A client that would typically qualify for a lower rate due to an existing condition due to health or lifestyle may receive an improved health rate class (and lower premium).

  • Available for ages 20-60
  • Face amounts $250,001 to $5,000,000
  • Both Term and Permanent Coverage
ANICO Signature Term

(Fully underwritten policy available in 10, 15, 20, 30 year terms)

ANICO’s fully underwritten level term life insurance product is popping up more and more for the most competitive price, especially for longer terms such as 30 years. Although the Company is best known for its no medical exam policies discussed below, ANICO is making waves in the fully underwritten world as well. Don’t you just love supply and demand?

For example, a 45 year old male in perfect health would pay just $85.97 a month for a $500,000 30 year term with ANICO. That is priced ahead of other great companies, such as Protective and American General.


Freedom Term Life Insurance
  • This is a no medical exam term life insurance policy
    • Available for face amounts up to $250,000.
  • No exam term life insurance for 10, 20 or 30 years.
  • Approval in less than 15 minutes.
  • Great option for fast life insurance for divorce and to cover SBA loans.

Business Loan Requirements

  • Typically cover face amounts up to 75% of the loan.
  • Terms of loan typically must be 5 years or more.
  • Proposed Insured must be a key person
 ValueGuard Whole Life Insurance
  • This is a no medical exam whole life insurance policy.
  • Face amounts up to $150,000.
  • Approval in less than 15 minutes.
Legacy Whole Life Insurance
ANICO Signature Whole Life Insurance

Guaranteed insurance rider: if you are considering life insurance for children or young adults, adding the guaranteed insurance rider is a must. The rider allows the addition of additional coverage at certain birthdays, up to age 40. Alternatively, you can also add additional coverage for special occasions, such as marriage and the birth of a child.

Compare Term Life vs Whole Life Insurance Quotes

ANICO Signature Plus Indexed Universal Life Insurance

IULs are great policies because they offer cash value growth, similar to whole life insurance, but potential for even higher interest crediting since the cash funds are allocated to indexed accounts. You money in the indexed accounts participate in the gains of different indices, such as the DJIA, NASDAQ 100 and S&P 500.You can also put your money into a fixed account.

The indexed accounts and fixed accounts have a guaranteed floor, which protect your cash value from market losses, since you are not directly investing in the market. The carrier also limits your gains by providing a cap on your total potential gains within the indexed accounts.

You can choose from three different death benefits, including a level death benefit, an increasing death benefit and a death benefit with return of premium.

How interest is credited in an IUL policy

There are two segments to be aware of: the start date and the maturity date. The maturity date is compared to the starting date annually. No interest is credited prior to the one year maturity date in a particular segment. After one year, the segment start date is compared with the maturity date. Any gains in the value are credited to your policy based on the participation rate.

For example, if your start date value was 2,000 on the S&P 500 and the maturity date was 2,200 after the one year segment period, you would have a 10% gain, subject to the declared cap maximum set by the company. If your participation rate is 90%, your credited interest would be 9%, minus policy fees and costs.

American National’s Signature Indexed Universal Life provides interest indexed crediting strategies including:
  • Point to Point with Cap
  • Point to Point with Cap and a Higher Floor
  • Point to Point with No Cap
How does Indexed Universal Life compare vs Whole Life?

As you see in our above example, IULs are beneficial when the market is moving up. If the market is doing well, IULs have a higher internal rate of return than whole life.

The tortoise and the hare analogy. IULs would be the rabbit and whole life would be the tortoise. The question is, which will provide more sustainable long term results, IULs with potential for large interest gains, subject to the participation rate and caps, or whole life with its guaranteed cash value growth around 4%?

Proponents of infinite banking often side with whole life, particularly dividend paying whole life from a mutual insurance company. However, there are certainly practitioners of the concept who believe IULs are superior. The bottom line is, you have to do your due diligence and go with the product that you feel most comfortable with.

Consider permanent life insurance, such as whole or universal, for business succession such as buy sell agreements and estate planning.

Buy Sell Life Insurance Requirements

  • For amounts over $1,000,000, an Inspection Report with a Business Beneficiary Report
  • For amounts over $3,000,000, an Inspection Report with a Business Beneficiary Report and business financial statements from the last 2 years.
  • Completion of ANICO’s Business Financial Questionnaire should be completed.

Key Man Life Insurance Requirements

  • ANICO allows up to 10X annual income to determine face amount for key person insurance.
  • For amounts over $1,000,000, an Inspection Report with a Business Beneficiary Report should be included.
  • For Amounts over $3,000,000, an Inspection Report with a Business Beneficiary Report
    and business financial statements from the last 2 years should be included.
  • Completion of ANICO’s Business Financial Questionnaire should be completed.

Sample American National Life Insurance Quotes

Monthly Signature term and Valueguard whole life insurance rates for a 40 year old male at a preferred plus rate as of December 2015. Rates subject to change and must be qualified for.

Face Amount 10 Year 20 Year 30 Year Whole Life
$50,000 $17 $19 $27 $94
$100,000 $27 $32 $47 $185
$250,000 $57 $69 $107 n/a

For more American National Life Insurance rates, as well as dozens of other carriers, please enter your info below.

ANICO Pros and Cons

No American National Life Insurance reviews article would be complete without a pros and cons section. Like we mentioned above, American National is one of the best accelerated underwriting life insurance companies available.

With no medical exam term life, whole life, and guaranteed issue life insurance, ANICO makes getting life insurance fast—easy. In fact, that is probably one of the main points of this American National Life Insurance review—ANICO delivers the goods on no medical exam life insurance.

With a no medical exam term policy for up to $250,000 and a no medical exam whole life policy for up to $150,000, ANICO Direct offers clients an excellent alternative to a more traditional medical exam term or whole life policy.

Another ANICO insurance review pro would be the Company’s aggressive move to be the low price leader in certain key term lengths and face amounts. American National not only offers competitive rates on no exam life insurance but also on fully underwritten policies as well. Therefore, don’t be surprised if we recommend this Company to you for exam and no exam coverage.

Great add on life insurance riders

Life insurance riders are a great way to maximize your policy. Below are a few of the riders offered:

Accelerated Death Benefit: Pays the owner of the policy a portion of the death benefit if the insured is diagnosed as terminally ill.

Terminal Illness Rider: If the insured is diagnosed as terminally ill with less than 12 months to live, up to 50% of the death benefit or up to $250,000 will be available to the policy owner.

Chronic Illness Rider: provides an accelerated benefit payout if the insured is unable to perform two out of six activities of daily living (bathing, continence, dressing, eating, toileting, or transferring) or is cognitively impaired.

Paid Up Additions: Paid up additions allow you to purchase paid up life insurance, increasing your cash value and death benefit.

Other riders, such as a Child Rider and Waiver of Premium, are also available. For a complete list of riders please contact your TermLife2Go agent.

Drawbacks of ANICO

We love this Company and do not have any specifics negatives for it. However, as with any company, its very unlikely that American National will be able to meet the need of every imaginable client.

When you apply for life insurance with American National Insurance Company, you are choosing to go with one company. If you make the decision to buy life insurance through ANICO Direct, then you have just limited yourself to one, and only one company.

Where this could be an issue is for certain health or lifestyle issues, such a those looking for no exam life insurance with diabetes. ANICO may not be the best choice for these clients.

Another thing clients should consider is that with a no medical exam life insurance policy, the premiums are always going to be higher than a life insurance policy with a medical exam.

Therefore, if you are looking for the lowest premium for your life insurance, a no medical exam policy is not the best route to take. Instead, assuming nothing pops up on the medical exam, taking the exam will provide you with a lower premium on your life insurance policy. For more on this, please see our article Life insurance: Exam v. No Exam.


We at TermLife2Go have a recommendation for anyone considering a life insurance policy from American National Insurance Company (ANICO). Give us a call and let us see if ANICO Life Insurance is the best company with the best price for your life insurance needs. If they happen to be the best offer, we will let you know. However, with dozens of top rated life insurance companies to choose from, you might save thousands of dollars going with another life insurance provider.

About TermLife2Go

We do not favor one life insurance company over another. Instead, we find out what you need and then we recommend the lowest priced, best life insurance company to meet your specific need. Therefore, if price matters to you, give us a chance to earn your business. We are here to serve you!

So, what are you waiting for?  Give us a call today or visit our Online Life Insurance Quotes page and see what we can do for you!

Thank you for reading our article, American National Life Insurance Company Review. If you have any questions please leave a comment below.

17 comments... add one
  1. natural nootropic

    Thanks for your article. One other thing is individual states in the United states of america have their particular laws of which affect householders, which makes it very difficult for the our lawmakers to come up with the latest set of rules concerning property foreclosure on householders. The problem is that every state possesses own legal guidelines which may interact in a damaging manner with regards to foreclosure procedures.

  2. Timothy Howden

    Have not received a statement from you in about 9 years, what is the status of my policy.
    Policy number is U0166451.

    • TermLife2Go


      TermLife2Go is an insurance brokerage that helps people find life insurance coverage. If you’re looking for specific information from an American National Insurance policy, we would recommend that you give American National Insurance company directly.

      American National Insurance companies contact number is 800-899-8606.



    • TermLife2Go


      Go ahead and give our office a call,and we’ll see if we have something that will meet your needs.



    • TermLife2Go

      There are a lot of factors that will need to be considered before we here at TermLife2Go could give you an honest answer to your question. Factors such as:

      – The type of felony that we are talking about?
      – Did you serve time?
      – Are you currently on probation?
      – Was this your only felony?
      – Etc, etc…

      For this reason, we would strongly encourage you to simply give s a call, so that we could have a licensed agent in your state determine your eligibility.



  3. Gapeach

    I was denied life insurance by ANICO in March 2015 because I was about 10lbs over weight for their height and weight requirement. Since that time, I’ve lost 13lbs. Is it worth it to try to apply again? If so, when can I (i.e 6months, 1 yr after first applying???)….. I’m asking because I’m figuring they’ll just deny me again since I wasn’t accepted the first time and I don’t want to ruin my chances with another insurance company if I get rejected again by ANICO. Please advise….

    • TermLife2Go


      It may be worth trying to apply for life insurance again with ANICO, but we would recommend speaking with one of our licensed agents first.
      We recommend this simply because some life insurance companies will look at any weight loss beyond 10 lbs as a “temporary” condition and only consider 5 of those lost lbs as something that you will maintain LONG TERM.
      So rather than simply take another chance with ANICO, it may be better to select another life insurance carrier that is LESS RESTRICTIVE regarding weight. That being said, if ANICO is still the right choice for you, we can also definitely help you out there as well.

    • TermLife2Go

      To be able to answer your question we would need to know some additional information such as:

      – Have you already purchased your life insurance policy? (If so contacting, American National Life Insurance Company directly would be the best way to determine if your policy has what is called a “Graded death benefit”).
      – Or, are you just beginning the process of looking for life insurance?

      American National Life Insurance Company has several different types of life insurance policies. For example, they have their Freedom Term, their ValueGuard Whole Life, and their Legacy Whole Life. Each of which will have their own unique set of features including what is called a “ 2 year graded death benefit” for their Legacy Whole Life product (if you die in the first 2 years, the policy returns 110% of the premiums paid).

      Our suggest to you is to give us a call after the holiday weekend so that we may have a licensed agent in your state provide you with all the information that you will need to make the right decision for you and your family.



    • Genny

      Yes they do. Unfortunately my uncle died 2yrs and 11.5 month into the policy and ANICO paid out as promised. We didn’t have any issues with them whatsoever. Although I’m in pretty good health and could easily get approved for a policy with a medical exam, I’m seriously thinking about taking out a policy with ANICO because I know they will payout to my family (without issues) when I die. The only thing I didn’t like is that no one at ANICO told us (until after the fact) that we could have paid to have the check expedited which after waiting months for the death certificate would have been a big help.

  4. Christopher Ferdinand

    Can someone send me info and an application. My address is 57 wade street jersey city NJ 07305. Thank you in advance.

    • TermLife2Go


      We’re happy to hear that you’ve been approved for a life insurance policy with American National Life Insurance Company and we’re sure that you’ll be completely satisfied with the decision that you’ve made. That being said, it does not appear as though you applied for life insurance with American National through TermLife2Go which is why we’re not able to see what exactly is going on with your policy.

      This shouldn’t be an issue for you since, once a life insurance policy is put into place all payments will generally go directly to the insurance carrier themselves which in this case is why you should contact American National life insurance directly at:


      You may also give us a call should you have any questions regarding your policy or would like to “double check” to make sure that you are getting the best value for your dollar. American National Life Insurance Company is a truly a great insurance company however there are times when they’re aren’t always the best option available. Either way we wish you the best of luck!


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