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

When you compare American National vs. Principal life insurance, American national offers term, whole, and permanent life insurance products to meet many life insurance needs; Principal does not offer whole life coverage, but includes a survivorship insurance option. American National has an A rating with A.M. Best while Principal boasts an A+ rating.

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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 23, 2021

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Quick Facts

  • American National offers whole life, term life, and universal life options to policyholders
  • Principal does not include whole life but does have a survivorship insurance option
  • American National rates are not available online

American National Insurance and Principal Life Insurance Company both offer life insurance options to policyholders. If you are interested in comparing American National vs. Principal life insurance companies, you may be surprised at what you find.

Both American National and Principal Life Insurance vary in the products they offer. They both have types of term life insurance as well as other options for policyholders. Monthly or annual rates with each company vary based on a number of factors.

If you are searching for life insurance, be sure to enter your zip code into our free tool above before you more about American National vs. Principal life insurance.

How much are American National and Principal life insurance policies?

When deciding whether to buy American National or Principal life insurance, rates are a big part of the decision.

Unfortunately, American National insurance quotes are not available online. It is the company’s policy that potential customers can only access a quote if they speak to an insurance agent. That makes it more difficult to compare American National vs. Principal life insurance quotes.

Like most companies, rates for American National life insurance vary based on a variety of factors, including:

  • Your age
  • Your gender
  • Your health history
  • Your occupation
  • Your location

While this list is not exhaustive it does give a good indication of why premiums vary from one person to the next.

Principal Life Insurance does offer online quotes for certain products. Below, you will find standard monthly rates for a $500,000 20-year term policy:

Principal Term Life Insurance Monthly Premiums by Age and Gender for $500,000, 20-Year Term
Age $500,000: 20-Year Term (Man)$500,000: 20-Year Term (Woman)
20$36$30
25$20$17
30$20$17
35$21$18
40$29$25
45$91$69
50$72$56
55$116$85
60$204$145
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As stated previously, American National and Principal life insurance rates are subject to change based on your personal factors, so be sure to seek a quote from Principal and other companies before you make any final decisions on a life insurance policy.

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What coverage options does American National have?

American National offers several different life insurance products. Based on what you are looking for, you may be able to find just what you need for your particular phase of life.

American National’s life insurance products include:

  • Whole life: Coverage for a lifetime of protection
  • Term life: Coverage for a fixed amount of time, generally anywhere from 10 to 30 years
  • Universal life: Similar to whole life but offering a bit more flexibility in monthly payments and overall payout amounts
  • Indexed universal life: A universal life policy tied to a particular stock index
  • Guaranteed universal life: Coverage that allows you to choose the guarantees you want

Based on American National insurance reviews online, the company’s life insurance products are broad enough to cover a wide range of needs.

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Does Principal offer whole life insurance?

Similar to American National, Principal offers several coverage options, including:

  • Term life: Affordable coverage for a specific period of time
  • Universal life: Flexible premiums and death benefits
  • Indexed universal life: A universal policy with a cash value growth based on a particular stock index
  • Variable universal life: Provides flexibility with a more aggressive cash value accumulation strategy
  • Survivorship insurance: Covers two lives, with a death benefit payable upon the death of the second life

Principal insurance does not offer whole life insurance, which may be a downfall for some potential policyholders. But Principal does offer permanent life insurance coverage options as well as survivorship insurance.

You can use your Principal life insurance login to assess coverages and policy options that might work for you.

Is American National or Principal better for me?

Whether you want American National or Principal depends on your individual needs. Both American National and Principal have positive ratings with A.M. Best — an A and A+ rating respectively — and would be a good choice for life insurance.

If you are looking for whole life coverage, then Principal will not work for you. But if you are flexible in what you’re looking for, you can search for affordable American National and Principal life insurance to see what works best.

You should never commit to buying life insurance from any particular company until you have compared rates from multiple companies first. This will help ensure you get the best rates possible.

Enter your ZIP code below to compare life insurance rates from top companies for free now that you’ve finished reading about American National and Principal.

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