American Amicable Life Insurance Review (2023)

American Amicable is an established life insurance provider based in Waco, Texas. They currently hold an A.M. Best rating of A. The NAIC shows that they have a complaint index score of 1.45, slightly higher than is average. American Amicable insurance offers both term and permanent life insurance policies. They also offer the return of premium benefit with some of their policies.

Free Insurance Quote Comparison

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

Jeffrey Johnson

Insurance Lawyer

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Insurance Lawyer

UPDATED: Sep 23, 2023

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.

Company Details
Address: P.O. Box 2549
City: Waco
State: Texas
ZIP Code: 76702-2549
Phone Number: 254-297-2777
Year Founded: 1910
AM Best Rating: A
Company Rating 0 (0 reviews)

Choosing the right company to provide you with life insurance is an important decision. That’s why it’s essential to get all the information available about the life insurance providers you’re considering.

American Amicable life insurance company may offer you what you need.

Based in Waco, Texas, this life insurance company has been around since 1910 and offers essential life insurance policies like term life insurance, whole life insurance, and universal life insurance.

Keep reading to learn more about American Amicable and see if this might be the right company for you.

Other options may be able to compete with American Amicable’s benefits. Ready to start looking for life insurance rates near you? Enter your ZIP code above and we’ll pull up rates from companies in your area.

What is American Amicable?

American Amicable was founded in 1910. Also called American-Amicable Life Insurance Company of Texas, the company is based in Waco, Texas, in the distinctive ALICO building.

American Amicable currently boasts an A.M. Best rating of A, one of the highest ratings available. It has maintained this rating for several years. A.M. Best also notes that the company has a stable long-term outlook.

These ratings should instill confidence in potential customers that their money will be well-handled and invested for the foreseeable future.

Free Insurance Quote Comparison

Enter your ZIP code below to compare cheap insurance rates.

secured lock Secured with SHA-256 Encryption

What life insurance does American Amicable offer?

American Amicable offers several types of life insurance, including term, universal, and whole policies.

Within each insurance category, they have created unique plans designed to fit a wide array of customer needs.

This wide selection is a good thing, as it means you’re more likely to find a plan or policy type that will match your circumstances.

Term Life Insurance

Term life insurance policies provide coverage for a set period, just as their name suggests. American Amicable offers terms of 10, 20, and 30 years, with payouts between $25,000 to $250,000 or more.

American Amicable has numerous term policies, including no-exam policies, level premium policies, and group plans.

Whole Life Insurance

Whole life insurance, also called permanent life insurance, is a policy that provides coverage through the policyholder’s lifetime.

Whole life policies have unchanging premiums and often come with riders to allow for early access to funds or other features.

American Amicable has these options, as well as a return of premium death benefit.

This benefit allows for the premiums that have been paid on a policy to be returned under specific circumstances, like a policyholder passing within a certain time period or after a certain age.

While they can be expensive, whole life insurance policies are a good investment, as they generally have higher payouts and allow you to customize your coverage with unique riders.

Universal Life Insurance

American Amicable offers two universal policies: one non-medical, and one fully underwritten policy.

The non-medical policy does not require any doctor’s exam or blood work for an individual to be approved. This can be a good option for those with ongoing health issues.

The fully underwritten policy requires a thorough medical exam, including blood work, before approval. This may seem rigorous, but there is a benefit to thorough life insurance applications.

The healthier you are based on your exam results, the more affordable your insurance will be, according to the Institute of Insurance Information.

If you can, it’s always good to apply for policies that include this medical exam to get the best rates.

Other Policies

Final Expense Insurance

American Amicable also offers final expense coverage, sometimes called burial coverage.

This particular coverage is offered as a term policy and is designed to help you pay for and sometimes even plan your burial or other final expenses in advance.

Final expense insurance is often promoted by those in estate planning law.

The main reason is that it allows you to set aside funds with specific instructions, minimizing confusion and financial burdens for your remaining family.

Mortgage Term Insurance

If you’re worried about your loved ones struggling to pay off the mortgage after your death, mortgage term life insurance is a great option to consider.

Is American Amicable affordable?

How affordable American Amicable life insurance rates are depends primarily on individual circumstances. Things like your age, gender, and health will all contribute to your rates.

Additionally, each type of insurance has a different price range. American Amicable life insurance quotes will vary for each policy.

Generally speaking, term life insurance is often the most affordable insurance type. This insurance can come with or without a medical exam and does not offer the same coverage as whole or universal life insurance.

Whole life insurance is, on average, the most expensive life insurance that you can invest in, but there’s a good reason for this.

Whole life insurance will provide a payout as long as you’ve paid a certain percentage of your premiums before your passing.

With its flexible premiums and coverage options, it can be a middle ground as far as price is concerned.

Once you know what type of insurance you need, it can be easier to see which company will be the most cost-effective.

Some companies may have better rates for their term life insurance but whole life rates that are not as competitive.

This is why it’s so important to comparison shop your life insurance providers. The more companies you can compare, the better chance you have at getting the best rates.

Another way to ensure you’re getting good rates is to start shopping for life insurance at a younger age. The younger and healthier you are when you purchase insurance, the better the rates will be.

For long-term policies with fixed rates, this can make the difference in being able to afford life insurance or having to make harder choices later in life.

Free Insurance Quote Comparison

Enter your ZIP code below to compare cheap insurance rates.

secured lock Secured with SHA-256 Encryption

American Amicable Life Insurance Claims Process

Ease of Filing a Claim

American Amicable Life Insurance offers multiple convenient methods for policyholders to file claims, ensuring a hassle-free experience. You can submit your claim through their user-friendly online portal, over the phone with their dedicated customer support team, or even via their mobile app. This flexibility allows you to choose the method that best suits your preferences and needs.

Average Claim Processing Time

One crucial aspect of evaluating an insurance provider is the speed at which they process claims. American Amicable is committed to providing efficient service to their policyholders.

While processing times may vary depending on the complexity of the claim, they strive to handle claims promptly, ensuring that beneficiaries receive the financial support they need during challenging times.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback is invaluable when assessing an insurance company’s performance. American Amicable has garnered a reputation for fair and timely claim resolutions.

Policyholders have reported positive experiences with the company’s claims process, including efficient communication and satisfactory payouts. This customer satisfaction is a testament to American Amicable’s commitment to delivering on their promises.

American Amicable Life Insurance Digital and Technological Features

Mobile App Features and Functionality

American Amicable understands the importance of staying connected in the digital age. Their mobile app offers a range of features and functionalities to enhance your insurance experience. You can access your policy details, make premium payments, and even file claims directly from the app.

The user-friendly interface ensures that managing your insurance on the go is both convenient and efficient.

Online Account Management Capabilities

For policyholders who prefer online account management, American Amicable provides a robust web platform. You can log in to your account to view policy information, update personal details, and track the status of your claims. This online portal offers a seamless and secure way to manage your insurance policies from the comfort of your home.

Digital Tools and Resources

American Amicable goes beyond the basics by offering a variety of digital tools and resources to help policyholders make informed decisions. Whether you need assistance calculating coverage needs, exploring policy options, or accessing educational materials, their online resources are readily available.

These digital tools empower you to navigate the complexities of life insurance with confidence.

Does American Amicable have a good reputation?

American Amicable has a strong reputation. As of 2021, they hold an A.M. Best rating of A and a stable long-term outlook. This rating indicates that the company will be viable and able to provide for its customers for decades to come.

As far as customers are concerned, American Amicable has only a slightly higher number of complaints than would be expected for a company of its size.

According to the National Associate of Insurance Commissioners (NAIC), its complaint index score is 1.45.

The average NAIC index score is one, so while the number of complaints for American Amicable is a little high, it is by no means extraordinarily so.

One thing that American Amicable could improve is its online presence. The company’s website is geared toward communicating with its agents rather than servicing customers.

With such a healthy financial outlook and a reasonable customer satisfaction report, American Amicable can easily claim a good reputation.

Free Insurance Quote Comparison

Enter your ZIP code below to compare cheap insurance rates.

secured lock Secured with SHA-256 Encryption

Is American Amicable right for me?

In the end, this question often comes down to price for most customers. New Link Destination
get your final rates, you’ll want to get American Amicable life insurance quotes and compare them to those you get from other providers.

That being said, if you’re looking for a dependable company that offers term, whole, and universal life insurance, and you find the rates reasonable, buying American Amicable life insurance may be a good choice for you.

American Amicable may be the right choice for you. But keep your options open. Are you interested in looking at other life insurance rates? Enter your ZIP code below and we’ll help you find the best rates from insurance companies in your area.

Free Insurance Quote Comparison

Enter your ZIP code below to compare cheap insurance rates.

secured lock Secured with SHA-256 Encryption