Our Americo Life Insurance Company Review will provide you details on their products, history, options and ratings so you can see if they’re a good fit for your life insurance needs.
At Life Insurance Blog, our number one goal is to provide our clients with the best life insurance companies that meets their objectives, goals, and needs.
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Table of Contents
- 1 Americo Life Insurance Company Review
- 2 About Americo Life Insurance Company
- 3 Official Ratings of Americo
- 4 Policies Offered by Americo Life Insurance
- 5 Americo Ultra-Protector I
- 6 Americo Ultra-Protector II
- 7 Ultra-Protector III
- 8 Other Americo Products
- 9 Americo’s Life Insurance Riders
- 10 Life Insurance Recommendation
- 11 Americo Life Insurance Company Details
Americo Life Insurance Company Review
Founded in 1906, Americo has been providing consumers life insurance products across the United States for over a hundred years.
Americo Fincancial Life and Annuity Company is one of the biggest, private and independent life insurance companies in the country.
Located in Kansas City, Missouri where all of their marketing and sales take place today
About Americo Life Insurance Company
The ‘Americo’ name goes hand-in-hand with life insurance for good reason.
Americo can be described as a holding company.
This simply means that it is a life insurance company that also owns other life insurance companies as subsidiaries.
They have obtained at least 15 individual life insurance entities over the last century.
As such, it’s hardly a surprise that the Americo brand keeps evolving.
Americo has been reported to have over $30 billion in life insurance from over 600,000 life insurance policies.
Americo has been reported to have over $6 billion in assets in 2015.
Official Ratings of Americo
If you’ve read reviews for life insurance companies before, you likely have seen A.M. Best referenced.
A.M. Best is typically knows as the life insurance industry’s most popular ratings agency.
In fact, they have been evaluating the financial prowess of life insurance organizations for decades.
Americo upgraded from ‘A-’ to ‘A’ in 2014, and this was a key step.
An ‘A’ rating reflects Americo’s dedication to financial prowess. If your family needs to make a claim someday, you can take comfort in knowing that they’ll obtain the death benefit as outlined in the applicable policy.
Further, you can relax knowing that the organization will endure any pressure derived from policyholders, the government, and even the economy.
Being a life insurance customer, you must understand what issues will be handled with properly.
Failure to conduct due diligence when looking for the best life insurance company will often result in disappointment.
Not too long ago, Americo was graded with a rating of ‘B-’, which is an average ranking and one that does warrant a strong consideration.
Because we are used to getting ‘A’ grades from all organizations, getting this rating from Americo took us back, at first.
That said, one must keep in mind that ‘A’ grade resides in the 90s from a total of 100. With their existing rating, Americo could earn an 84, which is still a respectable grade.
Policies Offered by Americo Life Insurance
These days, Americo is renowned for their multiple life insurance policy types, in addition to mortgage protection, among other choices.
Over time, they’ve perfected their life insurance services for customers.
That said, there is one set of final expense life insurance policies that is more popular than the others.
This series is known as ‘Ultra-Protector’.
Americo Ultra-Protector I
There are a few individual layers involved with this item, and the initial two coverage levels are very alike.
With a complete death benefit available once the policy is ready, the premiums will stay as is during permanent choices.
Also, you will see face amounts from $2,000 to $30,000…
…which is included with their Accelerated Benefit Payment rider.
This allows you to obtain up to half of your face amount if you can prove to Americo that your illness is fatal.
Once in place, you can get ready for the future and make sure that all things are in place for when you expire.
The biggest distinction between the coverage levels is with their age restrictions.
For Ultra Protector I, applicants need to be between the ages of 50 and 85.
To qualify, you must reply with ‘NO’ to each one of the medical questions you’re asked on the application.
They will also perform some database checks, which will show any prescriptions you may have been prescribed or used.
Because this is no medical exam life insurance policy, these details and questions will be required to gauge your overall health and how safe their investment will be.
Americo Ultra-Protector II
The main difference between Ultra Protector I from Ultra Protector II is the age of the applicant.
For Ultra Protector II, the age limit goes from age 50-80.
Ultra-Protector III is available, and the typical underwriting process is removed.
As a guaranteed issue final expense policy, you can select a coverage between $2,000 and $10,000 assuming you’re between the ages of 50 and 75.
With that in mind, be mindful that the complete death benefit won’t be accessible immediately.
Rather, the benefit will be ‘graded’, meaning that it’s only accessible in increments.
After a couple of years, you’ll get 10%, but this goes up to 75% on the third year.
After that, the complete benefit will be accessible.
There is an Accidental Death caveat suggesting that the complete death benefit is accessible if your demise stems from an accident.
Other Americo Products
Even though this set of final expense products is the top priority for most shoppers and Americo, there are other policies available.
Americo offers other types of life insurance policies such as term, universal, and whole life.
Each of these life insurance policies provides all the features you’d expect a policy to have.
Americo also offer life insurance policies that include guaranteed (GI) and simplified issue options (SI).
GI and SI options can provide you with a life insurance alternative if you would rather bypass the traditional medical examination.
If you’re wanting to learn more about this type of policy, read our no medical exam life insurance reviews.
You can also purchase a complete underwritten policy if you have no issue taking a medical examination.
With these details to consider, you certainly have many choices to pick from.
Of course, there are various time lengths that you can select within level term life insurance, including from 15, 20, 25, and 30 years.
These policies are ideal if you have a long-term mortgage or a short-term loan.
Further, term life is also beloved by new parents.
If one parent passes away during a child’s early years, it usually places substantial stress on the surviving parent. Unfortunately, this can affect the child in many ways, including his or her education.
To ease this concern…
…it’s beneficial to offer a monetary benefit in such cases until the child is old enough to provide for themselves.
If any of your options are unclear…
…simply get in touch with Life Insurance Blog.
We’re experts in life insurance and aren’t tied down to any particular life insurance company.
Americo’s Life Insurance Riders
You’ll also get the opportunity to add special features to an Americo life insurance policy. These added features are called life insurance riders.
Americo has the following life insurance riders available to you:
- Critical Illness
- Waiver of Premium
- Disability Income
- And More
These life insurance riders come at an extra cost. However, they provide you extra protection.
Life Insurance Recommendation
At Life Insurance Blog, we recommend everyone shop their life insurance needs from multiple companies.
Is Americo the best life insurance company for you?
It depends on a variety of factors such as your age, health, lifestyle, and type of life insurance you’re looking to buy.
Contact us at 888-411-1329 and we’ll spend the time to help find out if Americo or another company will provide your the best coverage at the lowest rate.
Don’t pay more than you should…
…for a life insurance policy that provides the same exact death benefit.
You could potentially save thousands of dollars off of your life insurance policy over its term!
Thanks for reading our post, Americo Life Insurance Company Review. Please leave a comment or question below.
Americo Life Insurance Company Details
Name(s): Americo Financial Life and Annuity Insurance Company, Americo Life, Inc. Investors Life Insurance Company of North America, National Farmers Union Life Insurance Company, Financial Assurance Life Insurance Company, United Fidelity Life Insurance Company, Great Southern Life Insurance Company, The Ohio State Life Insurance Company
P.O. Box 410288
Kansas City, MO 64141
Ratings: A.M. Best (A)