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American-Amicable Life Insurance Company Review

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Ron Attias, a licensed insurance broker. He had no particular loyalty to any one insurance company, so he was able to shop all major insurance carriers. This means that you always get the BEST plan at the LOWEST price. Each plan can be customized to fit your specific healthcare...

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UPDATED: Jul 9, 2019

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It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We partner with top insurance providers. This doesn't influence our content. Our opinions are our own.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance related. We update our site regularly, and all content is reviewed by life insurance experts.

If you landed on this page, you are probably looking for a review of American-Amicable Life Insurance because you are considering buying a policy with them. We understand that choosing your life insurance policy can be a daunting thing to do. You may have questions like “how do I know if this product is for me?” “How much does it cost?” “What if I’m not healthy?”

We will dig into the life insurance products offered by American-Amicable, compare them against the best in the industry, and hope to clear some of your confusions. Let’s get this going!

Related: Top 20 final expense companies

American-Amicable History

American-Amicable Life Insurance of Texas has been around since 1910. It is a unique, progressive carrier that specializes in life insurance and annuity products that are geared toward the individual market, with the purpose of wealth creation and estate preservation. They have a strong commitment to their policyholders and positive outlooks to the future.

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American-Amicable Financial Ratings

According to A.M. Best, an independent reporting and rating company, American-Amicable has an A (Excellent) rating.

Products Offered by American-Amicable

American-Amicable offers term, whole, and universal life insurance products. Each has its own stipulations and guidelines. Let’s review what each product entails.

Term Made Simple

Term life insurance is also known as “pure insurance” because it only provides the protection component, without the savings that whole life insurance has. This makes term life insurance a desirable option for young families who are looking to get the most benefit at the lowest possible price.

Term Made Simple by American-Amicable offers a simplified issue, level benefit term insurance, which means there is no exam as part of the underwriting process and your premiums are guaranteed to remain level (stay the same) for the entire term contract.

They also have a very liberal height and weight chart for easier approval. It comes with an additional accelerated living benefits rider at no additional cost, which allows the insured to use the policy’s death benefit while he/she is still alive if diagnosed with a terminal or critical illness.

Term Made Simple Highlights

  • 10-, 20-, and 30-year term periods
  • Death benefit: $50,000–$400,000
  • A guaranteed level premium for the selected term period
  • Annually renewable to age 95 after the initial term is over
  • Issue ages 18–75 for a 10-year term
  • Issue ages 18–70 for a 15-year term
  • Issue ages 18–65 for a 20-year term
  • Issue ages 18–55 for a 30-year term
  • Simplified issue underwriting with no-exam needed
  • Fully convertible before age 75 to whole life, without evidence of insurability
  • Accelerated living benefit rider included at no extra charge

Optional Riders*

  • Total disability
  • Waiver of premium for unemployment
  • Waiver of premium for disability
  • Children’s insurance
  • Accidental death benefit

*riders aren’t available in all states, talk to your agent. You can learn more about life insurance riders here.

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Golden Solution Whole Life Insurance

Golden Solution is a final expense whole life insurance policy. Final expense insurance is used to cover the charges of affairs specifically related to your death. Anything from medical bills, burial, and funeral services are the main reason to buy this type of life insurance.

American-Amicable’s final expense comes in three flavors: immediate, graded, and return of premium death benefit:

  • Immediate death benefit – there is no waiting period before 100% of the death benefit shall be paid.
  • Graded benefit – the policy pays 30% of the death benefit if you die within the first year, 70% in the second year, and 100% paid the third and subsequent years.
  • Return of premium – if you die within three years, the policy pays your paid premium plus 10% interest, instead of the full death benefit.

Your eligibility for each of the above plans will depend on your overall health, along with a Medical Information Bureau (MIB) and pharmaceutical database check, your height and weight, and a phone interview. Also, don’t let this “return of premium” slogan fool you—this is 3-year graded benefit policy, and if your health is bad, you should probably go for a guaranteed issue policy from AIG that only has a 2-year graded benefit without needing to answer any health questions.

Golden Solution Highlights

  • Issue ages: 50–85
  • Maximum immediate death benefit ages 50 to 75: $35,000, ages 76 to 85: $20,000
  • Maximum graded death benefit ages 50 to 85: $20,000
  • Maximum return of premium benefit ages 50 to 85: $20,000
  • Minimum death benefit: $2,500
  • Simplified whole life with no-exam
  • Terminal illness accelerated rider is included in all plans
  • Accelerated benefit confined care rider is only included in the immediate death benefit plan

Optional Riders

  • Grandchild insurance (on all plans)
  • Nursing home waiver of premium (immediate death benefit only)
  • Children’s insurance agreement (not available on return of premium plan)
  • Accidental death benefit (not available on return of premium plan)

Easy UL

Universal life insurance is another type of whole life that offers cash accumulation and guaranteed death benefit, just like a traditional whole life policy. Additionally, it gives the insured more flexibility when it comes to premiums and death benefit. As life evolves, so does the policy; the insured can change the death benefit, skip a payment, or adjust the payments (provided the policy value accumulation is there).

If having your cake and eating it too sounds good to you, UL is the way to go. Easy UL guarantees a minimum interest rate of 2.0% and your death benefit will be guaranteed for at least 15 years if you pay the no-lapse premium (the minimum premium to keep the policy in force).

Easy UL Highlights

  • Issue ages: 0–75
  • Death benefits: $25,000–$300,000
  • Guaranteed 2.0% interest rate
  • No-lapse guarantee for 15 years
  • Simplified issue underwriting
  • Terminal illness rider included at no extra charge
  • Accelerated benefit confined care rider at no extra charge

Optional Riders

  • Disability income
  • Family insurance agreement
  • Children’s insurance agreement
  • Accidental death benefit
  • Waiver of premium disability

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American-Amicable vs. Other Carriers’ Sample Monthly Rates

Male Whole Life $30,000

CompanyAge 50Age 60Age 70Age 80
 Assurity $82.06 $120.55 $214.75 $462.30
 Mutual of Omaha $81.06 $121.86 $214.69 $391.56
 Americo $88.59 $123.44 $211.19 $429.36
 Liberty Bankers Life $82.27 $128.14 $210.67 $431.14
 Phoenix$82.17 $121.53 $209.94 $432.47
 American-Amicable $87.12 $132.00 $224.43 $448.80
 United Home Life $84.35 $125.38 $215.19 $407.10
 Settlers $94.35 $135.92$218.54 $461.81
 Transamerica $85.04 $124.29 $216.83 NA
 Foresters $89.70 $129.26 $212.42 $433.91

Female Whole Life $30,000

CompanyAge 50Age 60Age 70Age 80
 Assurity $72.05 $99.83 $164.82 $337.27
 Mutual of Omaha $67.60 $92.20 $153.31 $288.89
 Americo $66.07 $94.20 $152.68 $330.72
 Liberty Bankers Life $67.45 $94.76 $155.11 $318.23
 Phoenix$71.61 $101.10 $157.49 $322.43
 American-Amicable $72.60 $106.39 $170.81 $326.04
 United Home Life $69.47 $97.55 $148.71 $305.13
 Settlers $78.03 $109.14 $167.28 $340.43
 Transamerica $68.82 $94.02 $154.84NA
 Foresters $71.85 $99.93 $153.96 $326.94

Male 20-year Term $250,000

CompanyAge 30Age 40Age 50Age 60
 Protective $13.12 $17.85 $41.50 $111.59
 Banner $13.33 $19.26 $40.85 $111.13
 AIG $13.54 $19.38 $42.73 $114.74
 Foresters $13.56 $18.81 $42.66 $114.84
 Lincoln$13.56 $18.38 $42.66 $190.53
 Mutual of Omaha $14.18 $20.08 $46.55 $134.05
 Principal $14.66 $19.03 $42.61 $110.03
 SBLI $14.79 $21.67 $51.68 $147.70
 Transamerica $16.13 $26.45 $58.05 $135.88
 American-Amicable $26.10 $40.28 $87.75 $190.35

Female 20-year Term $250,000

CompanyAge 30Age 40Age 50Age 60
 Protective $11.83 $15.27 $31.18 $77.61
 Banner $11.74 $15.67 $31.17 $78.83
 AIG $11.81 $18.51 $35.59 $89.66
 Foresters $12.47 $16.63 $31.94 $85.97
 Lincoln$12.08 $16.14 $32.77 $160.13
 Mutual of Omaha $12.64 $19.21 $36.05 $94.02
 Principal $13.13 $16.63 $32.90 $77.92
 SBLI $13.31 $18.99 $36.46 $90.37
 Transamerica $13.98 $21.72 $40.64 $110.51
 American-Amicable $19.35 $31.05 $58.50 $136.35

Bottom Line

American-Amicable is mostly geared toward individuals who are looking for a no-exam policy. However, you will find other companies, such as SBLI or Sagicor, who beat their rates.

Of course, life insurance final rates are related to one’s overall health, occupation, driving record, and prescription use, among many others, so you don’t want to rely on the prices that you see if you are not in perfect health.

Your ultimate task as a consumer is to compare all the available rates and find the best one for you. You can go ahead and run the rates on this page to compare American-Amicable.

FREE Life Insurance Comparison

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