American National vs. North American: Best Life Insurance Company in 2021

American National vs. North American life insurance rates are affordable and competitive, with North American being best for lower coverage amounts. The financial strength ratings for American National vs. North American are in favor of North American. The NAIC Complaint Index suggests the American National vs. North American customer experience is in favor of American National.

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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

  • Most of the American National vs. North American life insurance rates are similar
  • The financial ratings are stronger for North American life insurance, although both companies are in good standing
  • American National and North American both have strong life insurance policy options

When looking for affordable life insurance, it’s important to compare term life insurance quotes. There are a lot of life insurance providers to consider, and this guide will help by comparing American National vs. North American life insurance.

Shopping for life insurance can be tedious and time-consuming. We’re going to make it easier by showing you American National vs. North American life insurance rates, company ratings, policy options, and more.

Read on to learn more about American National vs. North American life insurance. Get free quotes from top-rated insurance companies using our free quote tool above.

American National vs. North American: Who has the best life insurance policy?

American National and North American might not be the biggest names in the life insurance industry, but each company is strong and respectable.

Is American National life insurance legit? You’ll find comfort knowing that American National, or American National Insurance Company, has been operating since 1905 and has over $26 billion in assets.

Is North American insurance good? North American has been operating since the 1800s with vast growth and success. The company holds over 600,000 annuity and life insurance policies.

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American National vs. North American: Which company has cheaper term life insurance?

No matter the type of insurance, everyone wants to save money. If you’re looking for affordable American National vs. North American life insurance, your best bet will be term life insurance.

Sample American National Life Insurance Average Monthly Rates by Age, Gender, and Coverage
Gender and CoverageAge 25 Average Monthly Rates Age 35 Average Monthly Rates Age 45 Average Monthly Rates Age 55 Average Monthly Rates
$100,000: 20-year term (male)$15.98$16.68$30.76$65.06
$100,000: 20-year term (female)$14.17$15.81$24.80$47.17
$250,000: 20-year term (male)$13.61$15.12$29.16$66.10
$250,000: 20-year term (female)$12.31$14.04$23.98$52.92
$500,000: 20-year term (male)$20.74$23.33$50.11$122.26
$500,000: 20-year term (female)$18.58$20.74$41.04$95.90
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American National’s life insurance rates are reasonable despite having some unique trends. With American National, there seems to be some incentive towards purchasing higher coverage amounts.

Based on the above rates, it’s actually cheaper to purchase $250,000 worth of coverage as opposed to $100,000 worth of coverage. This is a good example of why getting multiple quotes can be important.

Sample North American Life Insurance Average Monthly Rates by Age, Gender, and Coverage
Gender and CoverageAge 25 Average Monthly Rates Age 35 Average Monthly Rates Age 45 Average Monthly Rates Age 55 Average Monthly Rates
$100,000: 20-Year Term (Male)$11.26$11.26$17.25$35.38
$100,000: 20-Year Term (Female)$8.89$9.24$14.43$28.07
$250,000: 20-Year Term (Male)$13.86$14.96$30.36$67.54
$250,000: 20-Year Term (Female)$12.32$13.20$24.42$51.92
$500,000: 20-Year Term (Male)$21.56$23.76$52.80$128.48
$500,000: 20-Year Term (Female)$18.48$20.68$42.68$96.80
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The North American life insurance rates follow a more traditional pricing pattern, with the lower coverage amounts being cheaper. For a 20-year term, women could find a policy for under $9/month.

Average American National vs. North American Monthly Life Insurance Rates by Age, Gender, and Term Length for $250,000
Age and Gender10-Year Term (American National) Average Monthly Rates10-Year Term (North American) Average Monthly Rates20-Year Term (American National) Average Monthly Rates20-Year Term (North American) Average Monthly Rates
25 - Male$10.37$10.78$13.61$13.86
25 - Female$9.94$10.12$12.31$12.32
35 - Male$11.02$11.00$15.12$14.96
35 - Female$10.37$10.12$14.04$13.20
45 - Male$18.14$18.48$29.16$30.36
45 - Female$16.63$16.06$23.98$24.42
55 - Male$40.61$39.82$66.10$67.54
55 - Female $30.67$30.58$52.92$51.92
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For $250,000 worth of coverage, the American National vs. North American life insurance quotes are nearly identical. You likely won’t find a major difference in price between these two companies regardless of your age or gender.

Overall, it seems like both companies offer competitive term life insurance rates, although North American would be preferred for policies with only $100,000 worth of coverage.

American National vs. North American: Which company has better ratings?

Getting the best rates is always a priority when shopping for life insurance. But before you rush to buy American National vs. North American life insurance because of competitive rates, you want to know the company is stable.

Ratings Comparison for American National vs. North American
Ratings AgencyAmerican National RatingNorth American Rating
A.M. BestAA+
Fitch's RatingsN/AA+
Standard & Poor's (S&P)AA+
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The financial strength ratings for American National and North American are strong, with North American having a slight edge. North American boasts A+ financial strength ratings from notable agencies like Fitch.

There are few complaints about American National insurance. The company is not accredited with the Better Business Bureau, however, while North American is.

The National Association of Insurance Commissioners (NAIC) Complaint Index score for American National is just below 0.5, meaning American National receives about half the volume of complaints compared to similar industry competitors.

In comparison, North American has an excessive Complaint Index score from the NAIC, at over six times the industry average.

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For more comprehensive analysis about complaints and other company details, read our American National life insurance review and North American life insurance review.

American National vs. North American: What are the pros and cons?

American National and North American have both shown some promise as life insurance providers. If you’re not sure which type of life insurance you wish to purchase or if you’re considering bundling with other insurance policies, you’ll have to make even more decisions.

The American National vs. North American life insurance company policies are similar, with each company offering the following:

  • Term life insurance
  • Guaranteed universal life insurance
  • Indexed universal life insurance

You’ll also find other policies to choose from with these two companies, including:

  • North American annuities
  • American National auto insurance
  • American National homeowners insurance
  • North American finance solutions

It’s worth noting that North American appears to specialize in annuities.

For added convenience, as a policyholder, you’ll be able to use your American National login or the American National life insurance phone number to submit claims.

North American insurance receives claims via email, fax, or mail. This might be a little more of a hassle in comparison. After covering so much information, below we’ll highlight our key pros and cons.

Pros

  • Strong financial ratings (both companies – North American stronger)
  • Competitive rates for most policies (both companies)
  • Low Complaint Index score (American National)

Cons

  • High Complaint Index score (North American)
  • Expensive $100,000 policies (American National)
  • No policyholder login for claims (North American)

When deciding between American National vs. North American life insurance, you’ll need to think about how much coverage you need, how you want claims processed, and whether company complaints are a major concern for you.

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American National vs. North American: The Bottom Line

As you’ve seen, American National and North American each have something different to offer, and both have affordable term life insurance rates.

Hopefully, we’ve helped you learn more about American National vs. North American life insurance. Enter your ZIP code to get free quotes from top insurers near you.

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