American Amicable

American Amicable Life Insurance Company of Texas was founded in 1910 in Waco, Texas. The company has a long-standing tradition of providing reliable insurance products that cater to the diverse needs of individuals and families. Initially focused on traditional life insurance, American Amicable has expanded its product offerings over the years to include a wide range of life insurance solutions.

One of the company’s defining moments came in 2007 when it became part of the Industrial Alliance Insurance and Financial Services group, a leading Canadian life insurance company. This acquisition helped boost American Amicable’s financial standing and operational capabilities, allowing it to continue its legacy of providing secure and affordable life insurance policies to customers across the U.S.

American Amicable is known for its wide array of life insurance products, with a strong emphasis on Final Expense and Term Life Insurance. These products are designed to meet the unique needs of individuals and families who seek affordable and reliable coverage.

American Amicable’s product lineup is designed to accommodate a range of financial situations, from those seeking budget-friendly options to those looking for long-term wealth-building solutions through life insurance.

American Amicable is part of the Industrial Alliance Group, which is a financially stable and well-respected entity in the insurance industry. Industrial Alliance is publicly traded and manages over $200 billion in assets, providing American Amicable with the financial backing needed to meet its policyholder obligations.

As a subsidiary of such a financially sound parent company, American Amicable has received high ratings from major credit rating agencies, including A.M. Best, which assigns an "A" (Excellent) rating to the company. This reflects American Amicable’s ability to meet its financial commitments, providing peace of mind to its policyholders. The company’s strong financial foundation allows it to continue delivering on its promises, even in uncertain economic times.

American Amicable’s headquarters are located in the historic ALICO (Amicable Life Insurance Company) building in Waco, Texas, which was completed in 1911. This iconic skyscraper was one of the tallest buildings in Texas at the time of its completion and is a symbol of the company’s enduring presence in the industry.

In 1953, a devastating tornado struck Waco, damaging much of the city. The ALICO building, however, withstood the storm, becoming a symbol of resilience not just for the company but for the city as a whole.

American Amicable is known for its community involvement, particularly in Waco and the surrounding areas. The company regularly participates in philanthropic activities and charitable giving, focusing on education, health, and welfare initiatives.

Pros:
- Simplified Underwriting for Final Expense Insurance: American Amicable’s final expense insurance is accessible to individuals who may not qualify for traditional life insurance due to health conditions. This makes it easier for seniors or individuals with medical issues to secure coverage without invasive medical exams.

- Affordable Term Life Policies: The company’s term life insurance offers affordable premiums, making it a great option for young families or individuals seeking coverage during key financial stages of life.

- Strong Financial Backing: As part of the Industrial Alliance Group, American Amicable benefits from a stable and financially secure parent company. This provides confidence that the company can meet its financial obligations and remain a trusted partner for policyholders.

- Diverse Product Portfolio: American Amicable offers a broad range of life insurance products, allowing customers to choose the solution that best fits their financial and personal needs, whether they’re looking for temporary coverage or lifelong protection.

- Flexible Payment Options: The company offers flexible premium payment options, including monthly, quarterly, semi-annual, and annual plans, giving policyholders greater control over their insurance expenses.

Cons:
- Limited National Presence: While American Amicable operates across the U.S., it does not have the same level of national visibility or brand recognition as some of the larger insurance companies. This can make it harder for consumers to find information about its products without working directly with an agent.

- Focus on Simplified Insurance Products: For individuals seeking more complex or high-value insurance products, American Amicable’s offerings may feel limited. The company focuses on simplified life insurance solutions, which may not appeal to high-net-worth individuals looking for more comprehensive estate planning or advanced financial strategies.

- Smaller Face Values on Final Expense Policies: While final expense insurance is ideal for covering end-of-life costs, the coverage amounts are typically smaller, ranging from $5,000 to $25,000. This may not be sufficient for individuals looking for more substantial life insurance coverage for beneficiaries.

American Amicable has built a reputation for offering accessible and affordable life insurance solutions, particularly in the final expense and term life insurance markets. With a rich history dating back over a century, the company has demonstrated resilience and commitment to serving its policyholders through good times and bad. Its financial stability, backed by the Industrial Alliance Group, ensures that it remains a reliable option for individuals seeking protection for their families.

While American Amicable may not be as widely known as some of the larger national insurers, its focus on customer service, simplified underwriting, and community involvement sets it apart. The company’s product portfolio is well-suited to individuals looking for affordable, no-frills coverage, though those with more complex needs may find its offerings somewhat limited.

Ultimately, American Amicable remains a trusted name in life insurance, delivering peace of mind to families seeking to protect their financial future.
Advantages of working with American Amicable
Commission paid on issue
Mobile app with an instant underwriting decision after electronic app submission.
Paper application has optional point of sale interview for:
Ages 50-70 = When the payor is other than the proposed insured, spouse, significant other or child. Ages 71-85 = If the applicant is not found in the prescription database(s). Does not apply when the applicant is applying for the Return of Premium Plan.

Basic Product Information:
Senior Choice Immediate Level Death Benefit
• Issue Ages: 50-85
• Minimum face amount: $2,500 ($5,000 in Washington)
• Maximum face amount: Ages 50 to 75: $35,000 – Ages 76 to 85: $20,000
Senior Choice Graded Death Benefit
• Issue Ages: 50-85
• Minimum face amount: $2,500 ($5,000 in Washington)
• Maximum face amount: $20,000
Modified Death Benefit (Return of Premium)
• Issue Ages: 50-85
• Minimum face amount: $2,500 ($5,000 in Washington)
• Maximum face amount: $20,000
• 2 year look back on cancer and cardiac issues for the Graded Death Benefit.
• 3 year look back on cancer and cardiac issues for the Immediate Death Benefit.
• Mental health disorders (depression, PTSD, bipolar, schizophrenia) may qualify for the Immediate Death Benefit.
• Blood thinners like coumadin, warfarin, and clopidogrel are underwritten on a first-fill basis (Graded or Immediate Death Benefit coverage may be available based on the length of time since the first fill.)
• One of the fastest phone interviews available compared to other final expense life insurance companies.
• Very competitive smoker rates.