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Americo Life Insurance Company Review

Researcher & Writer
May 08, 2018

The following review of Americo Financial Life and Annuity Insurance Company was created with one primary purpose---to help our client's find the best life insurance policy based on each client's unique need, health and lifestyle. Is Americo Life the right company for you?

If you are looking for Americo Life Insurance Company Reviews, you are in the right place! Americo Insurance is a top rated life insurance company and currently in our top ten no medical exam life insurance companies list and top ten best final expense and burial insurance companies list.

About Americo Financial

Americo Insurance was established over 100 years ago. The Company boasts over 30 billion of life insurance in force. At the end of 2016, Americo Financial Life and Annuity Insurance Company had over $6.3 Billion in assets, with investment grade bonds making up 96% of the companies fixed income investments.

Americo Life Insurance Company’s Ratings

Americo Insurance has an A (excellent) rating from A.M. Best, the premier financial rating agency for life insurance companies. The A rating from A.M. Best is the third highest out of fifteen. A.M. Best ratings are a good indicator that the company will be able to pay your claims when the time comes, and with a rating of A, you can be confident that Americo will make good on their contract.

Additionally, the Better Business Bureau gives Americo a rating of B-, which isn't a bad rating, but not the best either—A+ is the top rating from the BBB.

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Pros of Americo Insurance

In the following section of this Americo Life Insurance Company review we will cover the pros to choosing Americo Insurance as your life provider.

Products Offered by Americo Life Insurance Company

Americo offers different types of life insurance policies including term life, universal life and final expense insurance.

Americo offers both simplified issue term and universal life under its HMS Plus product line.

Term Life Insurance

  • Level term life insurance with 15, 20, 25 and 30 year terms.
  • You can choose guaranteed for the full term or for five years.
  • cash back option offering return of premium
  • Face amounts available from $25,000 to $400,000

Living Benefit Riders

If you are diagnosed with a qualifying Critical, Chronic, or Terminal Illness, the accelerated death benefit is payable in one lump sum.

Additional life insurance riders include:

Indexed Universal Life

Americo also offers an Indexed Universal Life policy that comes with a lifetime guarantee. The product is indexed to the S&P 500.

Indexed Universal Life, or IUL, is a permanent life insurance policy, similar to whole life insurance in that it builds cash value.

However, the way that interest is credited to IULs is different than whole life. You have an option with an IUL to allocate your funds to fixed accounts or indexed accounts. Although not directly investing in the market, you do earn interest based on the indexed performance of the particular indices.

Indexed universal life offer flexible premium payments and you can raise or lower your death benefit.

In addition, IULs offer potentially higher returns than whole life. Since you are participating in an indexed account that correlates to the stock market, you account can be potentially credited a much higher interest rate.

IULs offer a cap and a floor. The floor represents the minimum guaranteed return. The cap represents the maximum potential gain. Some IUL policies offer uncapped potential returns as well.

In addition to the above products, Americo offers the Ultra Protector Series. The main focus with Americo Ultra Protector products is final expense and burial insurance. All Ultra Protector Products are no medical exam and come in three flavors*:
Ultra Protector I- Full Death Benefit 

  • Guaranteed Level Premiums
  • Face Amounts from $2,000-$30,000
  • Ages 50-85
  • Full death benefit right away
  • Accelerated Benefit Payment Rider
  • Optional Children’s Term Rider and Accidental Death Benefit
  • MIB and Prescription database check
  • Must answer NO to all questions on application

Ultra Protector II- Full Death Benefit

  • Guaranteed Level Premiums
  • Face Amounts from $2,000-$30,000
  • Ages 50-80
  • Full death benefit right away
  • Accelerated Benefit Payment Rider (UP TO 50% of the death benefit if diagnosed terminally ill).
  • Optional Children’s Term Rider and Accidental Death Benefit
  • MIB and Prescription database check
  • Must answer NO to all questions on part one of application

Ultra Protector III- 3 Year Graded Death Benefit

  • Guaranteed Issue
  • Guaranteed Level Premiums
  • Face Amounts from $2,000-$10,000
  • Ages 50-75
  • Graded Death Benefit year 1 = 5%; Year 2 = 10%; Year 3 = 75%

*Riders and Face amounts vary from state to state. Please give us a call  for information on the product in your state.

Cons of Americo Insurance

In this section of our Americo Life Insurance Company review we will cover the cons to choosing Americo Insurance as your life insurance provider.

Americo Life is but one of many

As with any carrier, Americo Insurance simply cannot meet the need of every client. When you apply for life insurance with Americo Insurance, you are choosing to go with one company.

That means if you have some sort of condition or lifestyle that would make you high risk life insurance you better hope that Americo Insurance specializes in that condition.For example, applying for diabetic life insurance.

If the company happens to be the best fit for you then great. However, with dozens of the best life insurance companies to choose from, you might save thousands of dollars over the term of your insurance policy by going with another life insurance provider.