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American Amicable Life Insurance Review for 2020



  American Amicable Logo for the 100th Anniversary of the Alico Building in Waco Texas

Are You In The Market For an American Amicable Life Insurance Company?

Well, let's do some dissection and see how they compare. [1

9659003] Who is American Amicable Life Insurance?

What type of products do they offer? Are their prices competitive and is this a company I can trust?

These are the questions I will answer in this article, so you know what to expect.

Although we have a lot of respect for American Amicable Life Insurance, we have identified three major issues with their offering.

Is American Amicable the Right Life Insurance Company for You?

Buying a life insurance policy is a long-term investment. Yep, there is no doubt about that! This is why it is so important to know if the company you are considering entrusting your money to is financially stable and suitable for you.

Will your insurance company be able to meet its obligations after your death? Will the company you are considering offer you the best premiums for your particular medical situation?

Three out of five Americans currently own some form of life insurance, according to a new study by the insurance education group Life Happens. And although it sounds like a large number, the leaders of the non-profit group point out that the coverage rate can vary greatly by age group based on "life cycle decisions." USA Today, when is the right time to buy life insurance.

Insurers have different business models, offer different products and do not necessarily follow the same insurance guidelines.

The company immediately describes itself as a "progressive specialist market insurance company". This is an important clue that speaks volumes about the company and its focus.

American Amicable Life Insurance has a long history and can be traced back to 1910 when it was first known as the American Amicable Life Insurance Company of Texas. [19659003] The company has been financially stable since its inception, growing and expanding into annuity markets after becoming part of the American-Amicable Group.

In 2010, the American-Amicable Group was acquired by Industrial Alliance Insurance and Financial. Services Inc.

If you are considering American Amicable Life Insurance, the first step is to determine if this is the insurer for you.

You might think you would be better served by another company. Catalog

Guidelines for Insurance

Did you know that each life insurance company has its own unique focus when it comes to their insurance guidelines? Many companies compete for a specific market niche and make offers that they think will overshadow their competitors. Some insurers are very rigid for various health problems, while others can be mild.

This is why you need to work with an independent life insurance agent who knows the ins and outs of each company's insurance processes.

We can save you a bundle!

If you have a heart for American Amicable Life Insurance, these statements should pique your interest.

Do not worry, you will get a better understanding of everything when we unpack their life insurance package. right now.

RELATED: 5 Critical Tips You Must Know Before Buying Life Insurance

Financial Strengths

Every policyholder should know the financial valuation of the insurance company they are considering.

This information is available through a variety of credit rating agencies.

You must ensure that the company you choose will meet a requirement made by your recipients.

… and do not forget, financial ratings vary annually, which means it's a good idea to keep up to date with the latest information.

The general rule of thumb is that a good financial rating means that the insurer is financially stable and is likely to remain so in the immediate future. A low or bad financial rating should stand out like a big big red flag.

If you look at the American-Amicable Life Insurance Company, they have received an A rating from one of the leading financial credit rating agencies, AM Best! Two thumbs up for American Amicable Life Insurance when it comes to stability!

Best & # 39; s Financial Strength Ratings (FSR) represents the company's assessment of the insurer's ability to meet its obligations to policyholders. The assessment process includes quantitative and qualitative reviews of a company's balance sheet, operating results and business profile, including comparisons with peers and industry standards and assessments of an insurer's business plans, philosophy and management. The classification formulas are proprietary. Wikipedia, AM Best

Offered Products

Okay now that you've established the fact that American Amicable Life Insurance is financially stable – let's discuss their offer in a little more detail.

I will be sincere, American friendly life insurance products are VERY SPECIALIZED!

This is not to say that I have any problems with that method. It's just that these products may not be suitable for the average American's life insurance needs.

Their life insurance line is excellent, but should only be considered by those with specific needs.

If you are considering American Amicable Life Insurance, call us at Huntley Wealth, chances are there is another insurance company that better matches your needs.


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American Amicable Specialties:

  • Final Expense Life Insurance
  • No Medical Life Insurance
  • Permanent Life Insurance

American Kindness Offers:

  • Final Cost – Full Life Insurance
  • Simplified Question Life Insurance
  • Universal Life Insurance
  • Modified Life Insurance

So let's take a closer look at what American Amicable Life Insurance Company has to offer now!

Final Expense – Typical Whole Life

The American Amicable Life Insurance of Texas states that it offers "multiple death plans" that you may qualify for based on your health history.

However, they do not specify the amount of coverage or provide any detailed information about these plans.

WHOOPS!

This is information you need before applying for life insurance. In other words, you need to talk to an American friend broker to find out these details.

What we do know is that American Amicable Life Insurance offers insurance to ages 0-85. Note that these ages vary from state to state.

Functions include:

  • No medical examination or blood work
  • No cost-accelerated benefits including terminal illness and limited care
  • Premium and death benefits are fixed
  • The accumulation value function is included.

Okay – I'm not interested in life insurance for final costs. I prefer traditional life insurance. What does the American Amicable Life Insurance Company have to offer me? Let's check out their two options now!

RELATED: Check Examples of Life Insurance Rates by Age (No personal information required)

Simplified Question Life Insurance – Option 1

American Amicable Life Insurance: s first option is No-Medical Term. Features of this product include:

  • No medical examination or blood work required
  • Multiple time periods available (website does not specify term lengths)
  • Coverage from $ 25,000 – $ 250,000
  • Convertible to permanent policy without proof of insurability required

Association Term Life Insurance – Option 2

American Amicable Life Insurance has a second offer. Association Term Life Insurance is actually a group plan offered to individuals 18-65 years of age. The features of this product are as follows:

  • No medical examination or blood work required
  • 10 year renewable terms

This plan is only available to the following groups of employees:

  • All government employees
  • First Responders which include police, firefighters and emergency medical staff
  • Government-funded employees of educational institutions
  • Hospital and railway employees
  • Spouses

So what if I wanted to buy a universal life policy? American Amicable Life Insurance Company has two options for you!

Non-Medical Universal Life – Option 1

The first option that American Amicable Life Insurance has to offer is non-medical universal life. Let's check out the features:

  • Coverage from $ 25,000 – $ 250,000
  • No medical examination or blood work required
  • Provides flexible premiums and an adjustable benefit life insurance contract
  • 15 year no-lapse warranty as long as minimum premiums paid

Fully Underwritten Universal Life – Option 2

The second option that the American Amicable Life Insurance Company has to offer is a fully subscribed Universal Life policy, which requires a medical examination, blood work and a health questionnaire

Other features this insurance includes:

  • Flexible premiums
  • Adjustable benefit life insurance contract
  • No stated maximum coverage amount
  • No cancellation guarantee provided the minimum premium is paid

So there is another option – American Amicable Life Insurance Company offers Modified Life. Hmmm. What is it? Let's take a look!

Modified Life

Ok, let's be honest, this one made me scratch myself. The American Amicable Life Insurance website describes this product as:

“Life insurance products combined with an accumulation option. There are options for full or time insurance. ”

HUH?

That's it! There is no further information on what this product means. To be honest, this is a VERY vague description.

Personally, I would like to see a lot more information about this product before I even start considering it. Potential customers have no idea what is being offered or how much it will cost.

Basically, if you want to know what they offer, you need to talk to an American friend company. I'm not a fan of this approach and prefer openness.


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Quotes are fast, easy, and free! [19659112] 3 Potential Problems You Can Face

Now that we know more about American Amicable Life Insurance and their offerings, it's time to get down to the nitty-gritty.

I'll share some inside information on how they stack up with other companies we work with here at Huntley Wealth.

American Amicable has a rather interesting and unique range of life insurance products.

Having said that, I have to pay attention to 3 potential problems that you may face if you choose them.

1) For Specialized

As I mentioned above, the American Amicable Life Insurance Company in Texas offers mostly specialized life insurance products.

With the exception of the fully subscribed universal policy, their products can be summarized as no medical degree life insurance, final cost life insurance, simplified term insurance and group life insurance.

A WARNING CAUTION!

All of the above insurances, which do not require medical examination or blood work, have limitations. The insurance method requires that you answer a number of health questions.

Although there are no medical examinations that are practical and relatively easy to obtain, you need to be careful about applying if you have certain health problems.

Answering yes to questions about targeted circumstances can lead to your application being rejected.

The American Amicable Life Insurance Company appears to be more conservative in its mode of insurance and tends to favor approving healthy individuals over those with medical problems.

This applies to many insurance companies that do not have a medical degree life insurance.

… but there are exceptions.

If you decide you want or need to apply for a no medical examination policy, we recommend that you always use an independent life insurance agent. We know which companies are easier for specific health conditions.

You are also limited in the cost of your premiums. American Amicable will rate you and you will have to pay the premiums they decide to charge you.

My best advice is to shop. You will save thousands over a period of 10, 20 or 30 years.

Independent agents like those here at Huntley Wealth can access dozens of top rated life insurance companies in America …

… so we have no doubt we can find the best possible rates for your special circumstances!

The benefit that most individuals are interested in without any medical examination policy is the time required to get coverage. An insurance that requires an examination takes as long as four to six weeks before the insurance starts because consumers must first see a doctor and get reports sent to the insurer. The insurance provider then starts the insurance process and gives consumers a final cost. Consumers fill in the final paperwork and then the coverage begins.

2) The face value limits are too low

Another problem I see with the American Amicable Life Insurance Company in Texas is that their coverage amounts are low.

Most of their policies for medical examinations are limited to $ 250,000. For many of you, this roof does not offer enough protection. The last thing you want to be is underinsured!

Companies that do not provide any medical examination policies usually offer lower face values. If you want more coverage with American Amicable Life Insurance, you must purchase a 2 and policies to compensate.

This is another reason why you should always use an independent agent when buying life insurance.

For example, here at Huntley Wealth, we only know of one company that offers $ 1,000,000 life insurance without a degree.

We can help you find some medical examinations with much higher face amounts than those offered by the American Amicable Life Insurance Company.

3) I do not recommend that you consult a single business insurance company

If you have read my articles, you are well aware that I am not a fan of just looking for a company for your life insurance needs. To take control of your prizes and coverage, you should really play the field.

American Amicable Life Insurance Company insurances are limited and clearly their website does not really cover much information about what they offer. [19659003] As an independent life insurance agent, I can say that it is important to compare companies. This is really the only way to find out if the premium quote you get from American Amicable Life Insurance Company is the best for you.

I would bet dollars for monks that it is not … and that we can find a lower quote for you

How to save money on life insurance

Finding a cheaper quote is just ONE of the ways we can save money on.

We have access to dozens of the most progressive life insurance companies in the industry.

19659003] Our job is to teach you everything about you and what you are looking for.

We can guide you through all the steps along the way to ensure you get the best possible deal from an insurer.

Not to mention the fact that our agents can give you a lot of tips to save money.

Did you know that there are things you can do to improve your medical examination results a few weeks before they draw blood? Yes!

We will also give you advice on what your needs are so that you do not overinsure yourself. Our agents are also well versed in how an inheritance can change the circumstances of your property from a tax perspective.


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There is no policy for small or too large

More importantly, we can help you find the best life insurance even if you have BIG HEALTH ISSUES.

Yes, you hear me right.

An independent agent can direct you to the most liberal specialty health insurance company. Huntley Wealth SPECIALIZES TO GET HIGH-RISK CUSTOMERS INSURED!

DO THE MATH!

If we could save you $ 10.00 a month on your premium for a 25 year period, it would be a SAVE of $ 3000.00 DOLLARS! [19659003] INDEPENDENT AGENTS SAVE MONEY, TIME FRUSTRATION

American Amicable Life Insurance Company is an excellent and established insurance company. But they may not be the right option for you, so call us at 888-603-2876 because I bet we can do better.

* While doing our utmost to keep our site up to date, please be aware that "current" information on this site, such as quotation estimates or relevant company information, may only be accurate as of the last day of editing. Huntley Wealth & Insurance Services and its representatives do not provide legal or tax advice. Contact your own legal or tax advisor.


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