The time to get life insurance has come and you have heard about Americo Life Insurance Company which left you wondering if this is the best choice for you. The good news is that you came to the right place as we have reviewed 100’s of life insurers and work with about 60 top rated life insurance companies. When deciding on an insurance company it is very important not to slack and actually do some homework but in this case, we did that for you. In this article, we will review this company’s ratings, history, products and overall customer satisfaction.
About Americo
This company is quite old and been around for over 100 years now. They specialize in providing life insurance and annuity plans to the individual market. Age of the company is important since it shows you how well the fare during economic downturns and wars. As far as the company’s rating they are rated “A” by A.M. Best which stands for excellent, A.M. Best is the leading rating agency for all the insurance companies. A solid rating lets you know that the company is financially healthy and will be able to write a check to your loved ones if something was to happen to you. Speaking of financial health, the company has about $6.3 billion in assets as of 2016 which is a solid number. Another solid sign we see is that the company has actually been growing over time consistently and as they say the best indicator of future performance is past performance. We took a step further and looked them up on Better Business Burea as well and they have an “A+” rating there too which means that they are focused on dealing with their customer’s issue.
Americo Life Products
When it comes to life insurance products Americo is no slouch and has various options for everyone. Even we know from personal experience how diverse their product can be from offering traditional life, simplified issue, mortgage protection and final expense for seniors they got it all.
Mortgage Protection/Simplified Issue
If you’re looking for a fast policy without having to do a medical exam they do have a plan that allows you to get this up to $400,000. This is a great option if you need to secure a policy for a business loan, mortgage or simply don’t like needles. Not many companies offer this much coverage without an exam and those plans are usually capped at $250,000. This may also be a much better option than what the bank is offering you to protect your mortgage.
General Life(Fully Underwritten)
They also have a large amount of fully underwritten plans which means with an exam. You can get a universal life, whole life or term life with them and all the variations of these products. If you want to simply protect your family or build some investment returns Americo has a product for you.
Final Expense
If you’re a senior looking for ways not leave your family with the burden of funeral costs they have three different final expense plans that are based on your health. These plans are whole life insurance without an exam and few questions. The questions have different tiers and the more questions you can answer “NO” the better plan and rate you’ll qualify for. This is a very convenient way to secure a final expense policy and you can even get approved within two days of the application being submitted. Here is a little chart that break down their whole life plans:
| Ultra Protector I
(Full Death Benefit) |
Ultra Protector II
(Full Death Benefit) |
Ultra Protector III
(3 Year Graded Death Benefit) |
|
|
|
Americo Rates
As we mentioned before, we do work with this carrier and tell you from looking at 1000’s of quote comparisons how they stack up against other carriers. Americo rates are a bit on the higher side for both their simplified issue term and some fully underwritten products. However, there are some individuals that are better off getting a plan with them since they tend to have pretty competitive underwriting guidelines. Now, when it comes to their final expense plan they are very competitive and we highly recommend them to individuals who are 50+.
Summary
All in all, Americo is a great company with an “A” rating and over $6 billion dollars in assets. They also have amazing life insurance products to meet your different needs. When it comes to pricing they can do a little better there for their no exam plan since there are many other no exam insurers like Sagicor, Fidelity and few others that spank them on the rates. If you decided to go with them you’re in good hands but you should always check the entire marketplace before committing to any one company.
What’s the next step?
Whether or not you decide to go with Americo is up to you but you still need to have life insurance. We are an independent online life insurance agency that gives you the power to shop around with all the top rated companies so you can get the best rate. You’ll find that we work with the most recognized large insurers that are highly rated and have highest quality products. If you’re ready to start looking feel free to check out one of our quote engines or call us at 888.492.1967 if you prefer to hear a friendly voice!
