The Ultimate Review of Americo Life Insurance Company

Written by Rob Pinner

Americo Life Insurance Company Review

Contact Info for Americo Life Insurance Company

americo life insurance company

1055 Broadway
Kansas City, Missouri 64105
(816) 391-2000
www.americo.com

Thanks for visiting our Americo Life Insurance Company Review. We are independent life insurance brokers trying to bring in depth reviews of every life insurance carrier doing business in America.

In this article we will review the history of Americo Life Insurance Company, their financial strength, and what types of life insurance products they offer.

We hope you find this article informative with helping you decide which life insurance company is the best fit for you.

Americo Financial Life and Annuity Company History

Americo Financial Life and Annuity Company has been offering life insurance products for more than 100 years.

Americo Financial has grown over the years by successfully acquiring more than 15 insurance companies, with each having its own specific advantages.

The Americo family is made up of Americo Life, Inc. as the holding company and the following subsidiaries:

  • Americo Financial Life and Annuity Insurance Company
  • Great Southern Life Insurance Company
  • The Ohio State Life Insurance Company
  • Investors Life Insurance Company of North America
  • National Farmers Union Life Insurance Company
  • Financial Assurance Life Insurance Company
  • United Fidelity Life Insurance Company

Americo Financial has been an innovator in the insurance industry. In 1922, a predecessor of Americo Financial, Great Southern Life, was the first insurance company to insure the lives of children.

In 1971, another predecessor of Americo Financial, Ohio State Life, was the first insurance company to advance death benefit payments to sustain the life of the insured.

In 1981, Great Southern Life was again leading the way by being one of the first to offer universal life policies to U.S. consumers. Americo Life was also one of the first to offer annuities and indexed universal life insurance.

Americo Financial Life and Annuity Company Ratings

Today Americo Life, Inc is one of the largest insurance groups in America. They have over $6 billion in assets and $32 billion of life insurance premium inforce.

americo The Ultimate Review of Americo Life Insurance Company

In 2019 Americo Life Insurance Company held more than 660,000 life insurance policies in force. These numbers is why Americo Life has an “A” rating with A.M. Best.

In order to earn an “A” rating, the insurance company must prove assets, liquidity, and a strong financial outlook which Americo Life Insurance does.

While Americo Life has a strong rating with A.M. Best, it leaves a little to be desired with the Better Business Bureau (BBB). The BBB has Americo Financial with a “F” rating and a composite score of 2.00 out of 5 stars.

Products offered by Americo Life Insurance Company

Americo Life Insurance Company offers a variety of insurance products to consumers which can be tailored for many different markets.

Americo Life Insurance product line-up:

Term Life Insurance offered by Americo Life

Americo Life Insurance Company offers no medical exam term life insurance policy with coverages ranging from $25K to $400K. Term limits are available in 15-30 year periods.

You can guarantee the premium for the full term or for 5 years, and the policy can be converted to whole life. Another nice feature is the Return of Premium rider which allows you to recoup all premiums paid in at the end of the term period.

Final Expense Life Insurance offered by Americo Life

Americo Life Insurance Company offers three final expense products that fits the need of most consumers. They are:

  • Ultra Protector 1- Provides full death benefit day one
  • Ultra Protector 2- Provides full death benefit day one
  • Ultra Protector 3- Guaranteed Issue-3 year graded benefit-Full benefit if death by accident

The specifications of Americo Financial Final Expense Insurance:

  • Guaranteed Premiums
  • Issue Ages 50-80
  • Cash Value Accumulation
  • Everyone qualifies
  • Death Benefits range from $2,000-$30,000
  • Accelerated Benefit Payment Rider automatically included with Ultra Protector I and II
  • No Exam- Just a few health questions
  • Accidental Death and Children’s Term Riders available on Ultra Protector I and II

Check out the health questions asked in order to qualify for the Ultra Protector I and II. The Ultra Protector III asks no health questions and is guaranteed issue.

americo The Ultimate Review of Americo Life Insurance Company

Sample Rates for the Ultra Protector I and II

$25,000 Death Benefit- Male Non-Tobacco

americo The Ultimate Review of Americo Life Insurance Company

$25,000 Death Benefit- Female Non-Tobacco

americo The Ultimate Review of Americo Life Insurance Company

Medicare Supplement Insurance offered by Americo Life Insurance Company

Medicare Supplements are designed to cover costs that Medicare Part A and Part B doesn’t cover. Expenses such as co-pays and deductibles are covered with Americo’s medicare supplement plan.

If you already have Medicare you are eligible to purchase a medicare supplement from Americo Life.

Mortgage Protection Insurance

Mortgage Protection Insurance is used to pay off a mortgage if you pass way before the home is paid off. Americo Life offers a unique term life product used as Mortgage Protection Insurance.

No exam is required for death benefits up to $400,000. This product comes with riders that can be added to fit your needs such as:

  • Disability Income Rider
  • Waiver of Premium Rider
  • Return of Premium Rider
  • Spousal Term Rider
  • Child Term Rider

Sample Rates for Home Mortgage Series 100 from Americo

$150,000 Death Benefit- Standard Non-Tobacco- Unisex Rates

americo The Ultimate Review of Americo Life Insurance Company

The Pros of Americo Financial Life and Annuity Company

The Pros are:

americo The Ultimate Review of Americo Life Insurance Company

The Cons of Americo Financial Life and Annuity Company

The Cons are:

americo The Ultimate Review of Americo Life Insurance Company

Our Thoughts

While Americo Financial Life and Annuity Company is a solid company, there rating with the BBB should be cause for concern. We aren’t saying that Americo Life is bad, but it’s obvious they are lacking in the customer service department.

There are to many other companies with great customer service and usually better products. With that said Americo Life has great products for final expense and mortgage protection.

It’s always important to get quotes from multiple carriers before making any purchases. If you have any questions or need quotes, let us know.

What is Americo Life’s BBB rating?

While Americo Life has a strong rating with A.M. Best, it leaves a little to be desired with the Better Business Bureau (BBB). The BBB has Americo Financial with a “F” rating and a composite score of 2..00 out of 5 stars.

When was Americo founded?

Americo Financial Life and Annuity Company has been offering life insurance products for more than 100 years.

What types of insurance products does Americo Financial offer?

Americo Life Insurance Company offers a variety of insurance products to consumers which can be tailored for many different markets.

Americo Life Insurance product line-up:

Traditional Term Life Insurance
Final Expense Life Insurance
Medicare Supplements
Annuities
Mortgage Protection Insurance

Rob Pinner
Rob Pinner

My name is Rob Pinner and I own EasyQuotes4You. At EasyQuotes4You we aim to make your life insurance buying process a smooth and stress free transaction.  We are independent life insurance agents servicing all 50 states. I have over 15 years of experience and have focused solely on life insurance for the past 5 years. If you have any questions or comments please don’t hesitate to give us a call.

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