American Memorial Life Insurance Review [2023]
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.
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Written by
Rachael Brennan |
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Reviewed by
Benjamin Carr
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UPDATED: Jun 29, 2022
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Jun 29, 2022
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- 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 products does American Memorial Life Insurance Company 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:
| 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 |
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 Life Insurance Company 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 with American Memorial?
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.
Your life insurance quotes are always free.
Secured with SHA-256 Encryption
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
|
Written by
Rachael Brennan |
|
Reviewed by
Benjamin Carr
|
