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.
Every family and individual is different, and everyone has varying needs and preferences for their life insurance needs, which is why it’s vital a company offers several different insurance products to fit those needs.
Term Life insurance is geared towards individuals who need insurance for a 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 provide payment for a mortgage in the event of death.
Term life insurance is typically on one of the most affordable insurance options for coverage and usually buying term protection is the easiest way to get the highest face value for the lowest cost.
Let’s get right to it – you’re probably looking for life insurance. What plans does Americo sell and how do they compare?
Like most carriers, they sell a standard term life insurance policy. Their plans allow you to get up to $400,000 (which will require a medical exam) all the way down to $25,000 (a final expense insurance policy).
As far as term lengths, they sell their policies in 15, 20, 25, and 30 years. They also have a couple of riders you can add for additional protection, the most notable is the return of premium.
As for permanent protection, they have a whole life policy and an indexed universal life plan. Their whole life policy is pretty standard.
WIth the indexed universal policy, you can put the cash value in a fixed account or invest it with indexed accounts.
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.
Life insurance and investments are not the only things Americo sells. They also have mortgage insurance and Medicare Supplemental insurance.
Mortgage protection insurance is exactly that. A plan to provide cash for mortgage pay off. We almost NEVER recommend buying one of these policies, regardless of the carrier.
Medicare supplemental insurance helps give additional health insurance which a standard Medicare Parts A and B don’t fill in. If you’re enrolled in Medicare, they can be an excellent way to beef up your protection.
History Of Americo Life Inc.
Americo is really a holding company. What this means is it’s a company that owns other companies as subsidiaries.
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 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 one 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. It is known that they have plenty of experience offering life insurance to thousands of people across the United States.
How Solid Is Americo?
With regards to financial strength, the company was built on the concept of continued growth and has purchased several other carriers over time to diversify 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 has 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 applicants look at when shopping for life insurance is how much the monthly premiums are going to cost. It’s important you get a quality policy at an affordable price. Here are the steps to take so you can ensure you get the best rates.
The first is to quit smoking or using tobacco of any kind. If you identify as a tobacco user, you’ll be facing high premiums. Smokers will have a monthly premium twice as high as a non-user will.
Smoking cigarettes drastically raise your risk of insuring to the carrier because chances are you’ll have health issues as time goes on.
Having any health issues, such as diabetes, this could increase your premium rates.
Managing those issues is another way to lower rates, and the quickest way to do this is eating habits and exercise.
Crash diets could wildly swing your vitals, instead focus on consistently eating better and walking and light weights several times a week. Following those steps will keep the payments low and also keep your body in shape.
You want to know you’re getting the lowest insurance rates possible and you can do this by comparing quotes from many companies before you choose one.
Just because you give every company the same info doesn’t mean they’ll give you the same rates. 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, are appointed by some of the highest-rated companies in America.
Not only can we help you find the perfect company to save you money, but we can cut down time you would spend calling the companies yourself.
Final Verdict On Americo?
Because of their simplified underwriting options, they can get you life insurance quickly for several of their plans. But they aren’t the only ones to do this.
There are a lot of companies which can get you life insurance in less than 48 hours (with some companies, it can be even faster).
Just because they are quick, doesn’t make them the best.
Speed of the policy shouldn’t be the driving force behind the decision you make. There a plenty of more important factors to account for.
Have questions about Americo or about any other insurance company such as AIG or Banner, 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.
We’ve spent years and years tuning and perfecting our abilities for finding life insurance. We’ve built relationships with some of the biggest companies out there, and a lot of companies you may not have heard of.
Sure, you can research for hours to become an insurance expert, or you can team up with our agents who have already done just that.
Make one phone call and you can be on your way to getting quality protection at an affordable price in minutes.