Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Oct 30, 2020

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American Amicable Company Overview
Key InformationCompany Specifics
Year Founded1910
Current ExecutivesCEO – Lanny Peavy
President – Joe Dunlap
CFO – Darla Schaffer
Number of Employees200
Total Assets$313,099,895
HQ Address425 Austin Ave.
Waco, TX 76701
Phone Number1-254-297-2777
Company Websitewww.americanamicable.com
Premiums Written – Individual Life$2,056,490
Financial Standing$15,400,000
Best ForStrong Financial Standing; Term Life With No Exam
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American Amicable has been in business for over 100 years and is no newcomer to life insurance. With customer praise and the highest ratings to boast, American Amicable has a longstanding reputation of providing some of the cheapest prices for term life and whole life insurance options.

Stay tuned — This American Amicable Life Insurance review will tell you everything you need to know about American Amicable life insurance and give you the opportunity to find the best term life insurance quotes from the right company for you.

Why wait to save money on life insurance? Before diving into our American Amicable Life Insurance review, click on our FREE quote tool above to compare rates from top insurance companies now.

Table of Contents

Shopping for American Amicable Life Insurance

One of the best financial decisions you can make is shopping around for life insurance quotes. Because life insurance premiums are usually paid in a term, like a contract, what seems like a small difference can cost you a small fortune.

For example, over a 30-year term, paying $20 a month instead of $17 a month costs you over $1,000 during the life of the term. Imagine saving $1,000 by getting a quick life insurance quote.

Take advantage of this detailed American Amicable Life Insurance review to save big.

Average American Amicable Life Insurance Rates

You may be wondering how affordable the American Amicable Life Insurance company is.

The average for American Amicable life insurance policies is expected to cost about $120 covering clients 25–65, with rates starting as low as $11.61 a month. The average non-smoker can expect to spend $15 to $60 a month on insurance premiums, depending on coverage and term length.

American Amicable Life Insurance Average Monthly Rates by Policy Amount & Gender– 10-Year Term
Policy Holder Age$100,000 – Male$100,000 – Female$250,000 – Male$250,000 – Female
25$14.04$11.52$22.50$16.43
30$13.05$11.61$20.48$16.88
35$13.86$12.51$22.73$19.13
40$15.48$13.68$27.68$22.50
45$18.99$15.93$37.80$28.35
50$24.30$19.62$51.08$37.80
55$35.37$25.83$78.30$54.00
60$56.25$40.50$128.93$88.88
65$87.57$61.38$206.33$139.28
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As you can see above, males tend to pay a bit more than women for life insurance. Do note that the rates above are for non-smokers. The typical American Amicable life insurance rates increase with age. This is a great reason to shop for life insurance early.

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American Amicable Life Insurance Policies

American Amicable offers several policies to benefit many prospective clients. Life insurance policies for parents might include term and whole life insurance, which can provide support for your spouse or children in the event of a catastrophic life event resulting in death.

How Life Insurance Death Benefits Work for Beneficiaries

Burial and final expense insurance might be one of the ideal life insurance policies for seniors to help reduce the financial burden of a funeral on family members.

Universal life insurance might be a beneficial life insurance policy for spouses since the rates are more flexible over time.

Over time, life insurance policies for adults become more important.

With any company, rates tend to climb as age progresses since our life eventually has to end. This could be another good reason to enroll in life insurance policies for children with a term life insurance policy. At the end of the day, it’s better to be safe than sorry.

If you’re still unsure about what each life insurance policy is, a life insurance terms glossary can help.

Whatever policy you choose, be sure to communicate with your beneficiaries. According to the NAIC  you would be surprised how much money goes unclaimed due to a lack of communication in America. Life insurance dividends shouldn’t go unclaimed.

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Term Life Insurance

With premiums starting as low as $11.52 a month, American Amicable offers a variety of term life insurance plans. Choose between 10-, 20-, and 30-year terms with coverage up to $250,000.

American Amicable also offers an express term life insurance which means their is no exam as part of the underwriting process and your premiums are guaranteed to remain level (stay the same) for the entire term contract.

Another term life insurance policy from American Amicable is a group plan offered to people 18-65 years of age who are government employees, first responders, employees of state-funded educational institutes, hospital employees, railroad employees, or a spouse of any of the above.

Whole Life Insurance

Designed to keep a stable rate over any duration, American Amicable offers whole life insurance plans with some different options. Titled Golden Solution, these plans can include an immediate death benefit, graded death benefit, or return of premium death benefit, alongside other riders.

American Amicable’s whole life insurance policies include features such as not requiring a medical exam, no cost accelerated benefits, fixed premiums and death benefits, and a cash value accumulation feature.

Universal Life Insurance

American Amicable offers two universal life insurance options.

The first option is a non-medical universal policy. This policy offers flexible premiums and adjustable benefits. As an added bonus, you can qualify for this plan without an exam or blood work.

The company’s second option is a fully underwritten universal policy. While this policy does require a medical exam and blood work, it still offers the same flexible premiums and adjustable benefits. With this policy, there is no stated maximum coverage amount.

Burial & Final Expense Insurance

American Amicable’s burial insurance (also known as American Amicable senior choice) is offered to those 50 years and older. Like term life insurance, these rates are determined by factors such as age, gender, and smoking. These no-exam rates start at $14.30/month.

Other Life Insurance Products

For homeowners, American Amicable does offer a mortgage term life insurance policy. Find out if mortgage term life insurance is right for you. It also has accidental death, dismemberment policies, or even the American Amicable survivor protector.

American Amicable offers what is called a return of Premium which is a simplified issued whole life policy which pays return of premium plus 10% interest for 3 years if under age 65, 2 years if age 65 or older, and 100% paid for accidental death.

Life Insurance Riders

Though it doesn’t have a specific policy for people who have a disability, American Amicable does include a disability rider for clients. Other riders include accidental death, children’s insurance, and waiver of premium.

In addition, if you’re looking for American Amicable living benefits, it does offer an accelerated living benefit rider with a lump-sum payment that is paid in full in the event the insured is diagnosed with a qualifying illness.

It’s always a good idea to find out if you need life insurance riders, but expect to pay an increased rate for them.

How to Get a Quote Online With American Amicable

You may be wondering how to get an insurance policy through American Amicable Life Insurance. With the world revolving around a busy schedule, it’s valuable to know how to get life insurance quotes online.

The best way to get life insurance quotes for American Amicable life insurance starts with it’s website. Finding an insurance policy with American Amicable Life Insurance has never been easier.

Visit the American Amicable website. American Amicable has the resources you need to start your quote directly on their website. Click the “Find an Agent” tab.

American Amicable Life Insurance Website Find an Agent

Enter your contact information and wait for the best agent to respond. With an easy-to-fill system, American Amicable should contact you in no time to discuss your life insurance policy.

It doesn’t appear that American Amicable has an app you can download for your phone. However, their site is mobile-friendly, and that includes the application process. Therefore, obtaining American Amicable mobile quotes is still simple.

Canceling Your Life Insurance Policy

Before committing to American Amicable, or any other company, it’s important to know if you can cancel your life insurance policy.

Life happens. Whether it be financial hardships, better rates, moving, a change in living situation, or the basic desire to be free from an expense, you’ll be comforted knowing that you can cancel your American Amicable life insurance policy.

How to Cancel

To cancel your American Amicable life insurance policy, we recommend you have your policy details available to you. Once you review those details, which include potential refunds or penalties, you can then proceed to the policy cancellation process.

You can get a jump start on the process by completing your policy cancellation request form. You can contact American Amicable directly at it’s toll free number 1-800-736-7311, Monday-Friday, 8 a.m- 5 p.m. You can also email them at cx@americanamicable.com

If you’re local, you may want to simply call the American Life Insurance Company phone number from their website or visit the American life insurance company address to find out more information.

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How to Make a Claim With American Amicable

Another important aspect of choosing life insurance is knowing the claims process. It’s valuable to know how long you have to make a life insurance claim, how long it takes, and the best way to make it.

File claims and get any necessary documents directly from American Amicable's website.

With American Amicable, you can make a claim easily. You have the option of simply contacting their service department or you can create an account to submit your claim via their company portal.

You can also find the necessary American Amicable life insurance claim forms on their website or contact them at 1-800-736-7311.

American Amicable’s Customer Experience

No insurance company can please everyone, yet we still like to know what other customers have to say about their life insurance company. The Better Business Bureau shows very little customer feedback, which means American Amicable hasn’t had major complaints.

According to the Better Business Bureau, who rated American Amicable an A+ business, there are currently 17 customer complaints. The worst customer experience reviews were revolving around billing or product issues.

The best American Amicable Life Insurance reviews express gratitude for need-specific policies, competitive rates, and overall ease for the insured. Due to its history and customer reviews, this shows that American Amicable Life Insurance is a reliable insurance company.

Design of Website/App

American Amicable has a basic and user-friendly website. The site includes policies, quotes, forms, claims, and other amenities necessary for a positive customer experience. Through the website you can change your address with American Amicable Life Insurance and purchase life insurance.

About American Amicable Life Insurance

American Amicable Life Insurance history began in 1910 under the name Amicable Life Insurance Company, or ALICO. American Amicable headquarters is located in Waco, Texas, where operations are ongoing in the original ALICO building.

The company is one of many subsidiaries, such as Pioneer Life Insurance, within iA Financial Group as of 2010. You can see how it relates using the Pioneer American customer service number.

However, don’t confuse it with iA American Life Insurance company. If you have more questions about things like who owns American Amicable, revisit the table atop the page.

American Amicable’s Ratings

The American Amicable Life Insurance rating through the Better Business Bureau is currently an A+.

American Amicable’s AM Best rating is an A for financial strength. The long-term outlook for American Amicable looks stable with iA Financial Group in their corner.

Financial strength of your insurer is important to consider, since it will give you an idea of their future and their ability to pay your beneficiaries when necessary.

American Amicable’s Market Share

While not a peak market shareholder, the American Amicable insurance company ranks similarly to many typical life insurance competitors. Major insurance companies such as State Farm insurance might be considered outliers in market share.

Top 10 Life Insurance Companies & American Amicable by Market Share
CompaniesMarket Share
Northwestern Mutual6.42%
Metropolitan Life6.00%
New York Life5.68%
Prudential5.57%
Lincoln National5.36%
MassMutual 4.19%
Aegon2.94%
John Hancock2.83%
State Farm2.83%
Minnesota Mutual Group2.70%
American AmicableN/A
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However, as you can see in the table, American Amicable doesn’t even rank in the top 125 companies, according to the National Association of Insurance Commissioners.

American Amicable’s Online Presence

American Amicable isn’t one of the primary insurance companies using social media. Though it does have some social media accounts, it isn’t well-followed or active. American Amicable claims to employ a marketing strategy with independent marketing organizations.

American Amicable’s Commercials

With a strong focus on reputable networking, American Amicable doesn’t use many life insurance TV commercials to promote its products. Without a strong advent presence, you might wonder, is American Income Life Insurance legitimate?

American Amicable in the Community

American Amicable, through iA Financial Group, is one of many businesses that help the community. This group showed multiple examples of giving back to the community. In one of those examples, iA Financial Group donated $50,000 to the Canadian Red Cross to support flooding relief.

Not only were they one of the best workplaces for giving back to the community in 2019 with that generous donation, but their organization has also hosted a philanthropic contest to raise funds for different charities. This is clearly one of the companies that do good for the community.

American Amicable’s Employees

According to Indeed.com, American Amicable employees have rated their experience as a 4 out of 5. Employees note a productive environment and fast-paced work but some hardships with difficult agents. American Amicable jobs are said to include good benefits and substantial bonuses.

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Pros & Cons of American Amicable Life Insurance

Now for the next key, simplifying the pros and cons of a life insurance company. Every company has its specialties, whether it be cheap rates, high limits, multiple plans, or more. Below are just a few of the pros and cons of life insurance policies to help you answer, “Is American Amicable legit?”

Pros of American Amicable Life Insurance

There are many benefits to choosing a company life American Amicable Life Insurance. We’ve discussed many, but we emphasize these points:

  • Term life insurance with no exam
  • Strong financial standing
  • Ease of use

It’s good to know that your insurance company will be able to support your family in your time of need.

Cons of American Amicable Life Insurance

With every good company comes some challenges. Here are some reasons that American Amicable might not be the best for you:

  • Low coverage limits
  • No 24/7 claims
  • No mobile app
  • No special discounts/programs

One could argue that convenience is an issue with American Amicable depending on how urgent they feel a life insurance claim is. American Amicable has yet another typical Texas life insurance customer service phone number instead of advanced technical features.

Frequently Asked Questions: American Amicable Life Insurance

Life insurance company FAQs and answers can be never-ending. With endless policies, terms, riders, and more, it can sometimes be of service to review insurance company FAQs.

While we always recommend learning the basics about life insurance first, below we highlight some key FAQs for American Amicable.

#1 –What is American-Amicable AML?

American Amicable AML is an anti-money laundering course and is only available for people that have contracted or intend to contract with American-Amicable Life Insurance Company

#2 – Can I buy American Amicable Life Insurance online?

Yes you can buy American Amicable Life Insurance online via there website.

#3 – Does American Amicable Life Insurance offer car insurance?

There is no evidence that American Amicable Life Insurance also sells car insurance.

#4 – Does American Amicable offer discounts?

Discounts are very unusual in life insurance, and American Amicable is no different. Rates depend on other factors instead.

American Amicable Life Insurance: The Bottom Line

Their are many life insurance companies to choose from. American Amicable offers a multitude of plans with a user-friendly construct. With no-exam policies, they could be the right fit for you.

Now that you’ve read this American Amicable Life Insurance review, don’t wait to save money on life insurance. Click on our FREE quote tool to get affordable life insurance rates. Get started now.

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