American Memorial Life Insurance Review [2021]

American Memorial Life Insurance Company offers niche life insurance products, rates, industry ratings, and more. American Memorial is owned by Assurant. While American Memorial only offers final expense and preneed insurance, other Assurant subsidiaries may offer more traditional life insurance policies. Learn more to find out if American Memorial life insurance is right for you.

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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: Jul 19, 2021

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Quick Facts

  • American Memorial Life Insurance Company sells final expense insurance and preneed insurance.
  • American Memorial is owned by Assurant, who purchased the company in 1996 to access the preneed market.
  • American Memorial and Assurant both have A+ ratings from the BBB.

American Memorial Life Insurance Company specializes in selling niche insurance products. However, you may find that you’ll be missing out on traditional life insurance products, such as term life insurance.

Our American Memorial Life Insurance review will discuss its insurance products, rates, industry ratings, and more.

Read more below to find out if American Memorial life insurance and its parent company, Assurant, are right for you. Enter your ZIP code into the free quote comparison tool above to find affordable life insurance rates near you.

What is American Memorial Life Insurance Company?

American Memorial Life Insurance Company was founded in 1955. In 1996, it was purchased by Assurant, who sold its first policy in 1892, to begin providing insurance to the preneed market.

American Memorial is part of the Assurant Solutions division of the company, which is made up of brands that offer niche insurance products.

Assurant is headquartered in New York and is a Fortune 500 Company. However, it has faced legal disputes in the past ten years or so regarding canceling health insurance policies.

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What life insurance products does American Memorial offer?

American Memorial doesn’t offer traditional life insurance products, such as term life insurance or whole life insurance. Instead, it focuses on final expense and preneed insurance.

A final expense policy offers a smaller death benefit than traditional life insurance policies since they are primarily used to pay for final expenses, such as funeral costs. While the benefit is smaller, they are usually less expensive to purchase than other life insurance policies.

Preneed insurance is similar to final expense insurance except that you are involved in planning your after-death expenses, such as your funeral. You can choose a funeral home, plan the funeral, and get a death benefit that will cover the costs of what you have chosen.

The main difference between a final expense policy and a preneed policy is that the beneficiary for a final expense policy would be a person of your choosing, while the beneficiary of a preneed policy is the funeral home that you’ve chosen.

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How much is American Memorial life insurance?

American Memorial life insurance rates are not available online. To give you an idea of what you might pay for final expense insurance, take a look at the table below:

Average Monthly Final Expense Life Insurance Rates by Gender: $10,000 Policy
Policyholder Age$10,000 Policy: Male Average Monthly Rates$10,000 Policy: Female Average Monthly Rates
40$24.02$20.43
45$27.16$22.65
50$43.20$32.91
55$50.06$38.89
60$57.86$45.98
65$71.02$55.60
70$88.55$69.69
75$114.80$91.51
80$163.18$126.89
85$230.74$181.52
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You should keep in mind that your rates could vary based on many different factors including your age, gender, health, location, and more.

Are American Memorial ratings positive?

The BBB has given American Memorial Life Insurance Company an A+ rating. The company has closed 7 customer complaints through the BBB website in the last year, and it has a 1.57/5 star rating.

Assurant also has an A+ rating from the BBB. It has closed 446 complaints on the BBB website in the past year, and it has a 1.05/5 star rating.

American Memorial has an A- financial strength rating from A.M. Best, which means they have an excellent ability to meet its financial obligations.

Assurant does not have an overall financial strength rating from A.M. Best. However, its long-term issuer credit rating is bbb+ (good), and its short-term issuer credit rating is AMB-1 (outstanding).

American Memorial Life Insurance Company has an NAIC complaint index of 0.26, which is significantly lower than the national median of 1.00, meaning it has fewer customer complaints than companies of a similar size.

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How can I get a quote or file a claim?

To get American Memorial life insurance quotes, you’ll need to contact an agent that sells its policies. Unfortunately, the American Memorial Life Insurance Company website (www.assurant.com) doesn’t have an option to search for an agent near you.

You can try calling (800) 533-2220 to ask about contacting an agent or getting a quote.

Filing a claim on the Assurant website is easy. You navigate to “Claims & Support,” click “Final Expense & Prearranged Funeral,” and follow the directions at the top. Download the claims form and either email or fax it in with supporting documents.

You must send an email with the policyholder’s name and policy number as the subject to [email protected] Or you can fax it with the policyholder’s name and policy number on the front page to (605) 719-0601.

How can I contact American Memorial?

Assurant and American Memorial’s website is www.assurant.com. The final expense customer service phone number is (800) 621-7162. The prearranged funeral customer service phone number is (800) 533-2220.

American Memorial’s headquarters address is 440 Mt Rushmore Road, Rapid City, SD 57701.

Should I buy American Memorial life insurance?

American Memorial Life Insurance Company offers very simple policies that can help cover funeral and burial expenses so that your family doesn’t have to carry the burden. However, these do not offer enough coverage to help support your family for long.

While you may not be able to buy a policy with a large death benefit from American Memorial, you may be able to find one from another of the Assurant subsidiaries.

For help finding life insurance, enter your ZIP code into our free quote comparison tool below.

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