Americo Insurance Company Review

by Jeff Rose on October 26, 2016 · 0 comments

Based in Missouri, Americo brings multiple products to the market to meet the needs of today’s consumers. To begin with, they offer a portfolio with term life, traditional and indexed universal life, and whole life to protect your family in the event of a death.

Americo Insurance Company Review

Every family and individual is different, and everyone has varying needs and preferences for their life insurance needs, which is why it’s vital that a company offers several different insurance products to fit those needs.

Term Life insurance is geared towards individuals that have a need for insurance for specific period of time, such as working years. Other products, such as universal or whole life, are geared towards those individuals who want lifelong protection and possible cash value accumulation. In this way, these policies can even function as a vehicle for savings. Americo also offers mortgage life insurance, which is like traditional insurance with riders designed to protect the home and pay for the mortgage in the event of death.

Term life insurance is typically on one of the most affordable insurance options for coverage. If you want to get the lowest insurance rates possible, term insurance is going to be the best option.

Product Offerings

For those looking to accumulate wealth or pass money on to the next generation, Americo’s annuity offerings can be designed to meet the unique needs of all clients. Annuities typically earn more in interest than CDs and allow owners to defer taxes as well. Finally, Americo’s final expense products help to cover the unexpected costs.  Things like burial and funeral costs can be covered for your loved ones with a burial life insurance policy or small permanent policy.

Currently, the company conducts business through the U.S. and the District of Columbia with the exception of Alaska, New York, Vermont, Alabama, and Mississippi. Agents are able to learn more about products and receive support through Americo’s site, Agent Cafe. The company’s history stretches back over 100 years, and the ability to innovate and develop products that meet the needs of today’s consumers is the reason for their continued success in the marketplace. The company currently works with over 13,000 agents throughout the country.

History of Americo Life Inc.

Americo is really a holding company.  What this means is that it is a company that owns other companies as subsidiaries.  This means that counting all the companies that have been acquired under the Americo banner they have more than 100 years of experience in the life insurance industry.  Currently the main brands that are subsidiaries of Americo Life are:

  • Americo Financial Life Group
  • Americo Financial Life and Annuity Insurance
  • Great Southern Life Insurance Company
  • Investors Life Insurance Company
  • National Farmers Union Life Insurance Company
  • Ohio State Life Insurance Company

Through the histories of these various subsidiaries, Americo has been able to do some truly innovative benefits for its customers.  In 1922 Great Southern became the first company to offer life insurance for children.  In 1971 Ohio State Life was the first company to offer an advance on death benefit payments so that the policyholder could sustain their life.  Great Southern was also one of the first companies in the United States to offer their clients the option of a universal life insurance policy.

Today Americo Life is on of the largest US based, privately held and independent insurance groups.  The company currently has more than 640,000 policies in place and $31.6 billion of life insurance in place.  As you can see, there have plenty of experience offering life insurance to thousands of people across the United States.

How Solid is Americo?

With regard to financial strength, the company was built on the concept of continued growth and has purchased several other carriers over time to diversity the overall portfolio and capitalize on the strength of each company. With over 750,000 policies and over $38 billion of active coverage in force, the carrier is committed to providing protection and peace of mind for families all over the country. Americo has been rated as an A- company by A.M. Best and an A- company by Standard & Poor’s. With many options for contemporary insurance needs, Americo is well positioned to provide a solution towards family protection.

Because of its smaller size it does not make our list of top life insurance companies, but if it did come up as the most affordable carrier for one of our clients then we would have no problem recommending them.

If you’re looking for a solid and reliable insurance company to purchase a policy through, Americo is an excellent option. The company ahs been around for decades and has continued to offer quality insurance plans.  They offer competitive rates for several of their policy types.

Picking a reputable company is one of the most important factors when looking for an insurance plan to protect your family. The worst thing that could happen is to have a policy and then the company goes bankrupt, or your loved ones have problems getting the payout from the plan.

Getting the Cheapest Insurance Policy

One of the biggest factors that applicants look at when shopping for life insurance is how much the monthly premiums are going to cost. It’s important that you get a quality policy for an affordable price. There are several things that you can do to ensure that you get the best rates.

The first is to quit smoking or using tobacco of any kind. If you’re listed as a smoker on your application, you’ll be facing much higher premiums. Smokers are going to pay double, or even triple what a non-smoker is going to pay. Smoking cigarettes drastically increase your risk of having health complications later in life, which makes you a greater risk to the insurance company.

Which leads us to the next tip, focus on your health. Unless you choose a no medical exam policy, your overall health is going to play an important role in how much you pay for coverage, such as if you suffer from diabetes, this could increase your premium rates. If you want to save money, it’s time that you started a healthy diet and regular exercise. Both of these are going to help you lose weight, lower your blood pressure, and lower your cholesterol, which is going to translate into lower monthly premiums.

The best way to ensure that you’re getting the lowest insurance rates possible is by comparing quotes from dozens of companies before you choose one. Because every company is different, all of them are going to view your application through a different lens, which means that you could receive drastically different rates from companies. You could spend days talking to insurance companies, or you can work with an independent agent. Instead of representing just one single company, independent agents, like myself, represent dozens of the highest-rated companies in America. Not only can we help you find the perfect company to save you money, but we will also save you time that you would spend calling the companies yourself.

If you have any questions about Americo or any questions about life insurance coverage, please feel free to contact us at any time. We are dedicated to helping you get the perfect insurance coverage for your loved ones.

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