2024 American Amicable Burial Insurance Review – Pros & Cons
last updated on July 22, 2024In the following American Amicable life insurance review, we will look at the different burial insurance products the company offers to determine if it’s right for your individual needs.
American Amicable offers three types of burial insurance products. Your answer to the health question will determine what plan you will qualify for.
After reading our American Amicable life insurance review, you can decide if their plan is best for you.
| AMERICAN AMICABLE FUNERAL FUNDS 5-STAR RATING | |
|---|---|
| First-day Coverage | ★★★★★ |
| Ease of Approval | ★★★★ |
| Coverage Amount | ★★★★★ |
| Pricing | ★★ |
| Riders | ★★★★★ |
FOR EASIER NAVIGATION:
- Does American Amicable Offer First-day Coverage?
- Pros of American Amicable Burial Insurance
- Cons of American Amicable Burial Insurance
- American Amicable Burial Insurance Products
- American Amicable Burial Insurance Riders
- When Does American Amicable Burial Insurance Make the Most Sense?
- American Amicable Underwriting Guidelines
- American Amicable Pricing Examples
- Getting Approved for American Amicable Burial Insurance
- The Best Payment Option
- American Amicable Company Overview
- How Can Funeral Funds Help Me?
- Additional American Amicable Insurance Questions & Answers
Does American Amicable Offer First-day Coverage?
YES, American Amicable has a burial insurance plan that offers first-day coverage, but they tend to be more expensive than other companies.
If you qualify, their Lighthouse Legacy Immediate Death Benefit Plan comes with immediate first-day coverage. You will be 100% covered from the first day, and your beneficiary will receive your full death benefit when you pass away.
Pros Of American Amicable Burial Insurance
Riders – they have many riders available (but some do cost extra money)
Easy application process – the application can be accomplished over the phone
Smoker friendly – their tobacco rates are competitive
Cons Of American Amicable Burial Insurance
Less competitive pricing – you will typically pay more with American Amicable than with other companies.
Height & Weight Chart – you will not qualify for coverage if you are overweight.
Captive Agents – they exclusively sell their products.
American Amicable Burial Insurance Products
American Amicable burial insurance products are called the Lighthouse Legacy (NOTE: they use other policy names to sell the same insurance product).
Lighthouse Legacy are life insurance policies designed to pay the insured’s funeral and other final expenses.
Lighthouse Legacy comes in three forms:
- Immediate Death Benefit Plan – designed for those with no serious health conditions and can answer “No” to all the health questions. This plan comes with first-day coverage.
- The graded Death Benefit Plan – is designed for people with some health issues who can answer “No” to the knockout questions but may answer “Yes” to the graded section on the application. This plan offers partial first-day coverage.
- Return of Premium Benefit Plan – is for those who can answer “No” to the first three questions but may answer “Yes” to the last four questions on the knockout section of the application. This plan comes with a two-year waiting period.
Issue Ages:
- 50-85 (age last birthday)
- Premium Paying Period: to age 110
- Minimum Face Amount: $2,500
Maximum Face Amount Immediate Death Benefit:
- Ages 50 to 75: $35,000
- Ages 76 to 85: $20,000
Maximum Graded Death Benefit for Ages 50-85: $20,000
Maximum Return of Premium Death Benefit for Ages 50-85: $20,000
DEATH BENEFIT PAYMENT SCHEDULE
Immediate Death Benefit
- first-day coverage
- 100% of the face amount will be paid immediately
Graded Death Benefit
- 30% of selected face amount paid if death occurs during the 1st policy year
- 70% paid the 2nd year
- 100% paid for the 3rd and subsequent years
- 100% paid for accidental death, all years
Return of Premium Death Benefit
- Return of premium plus 10% interest for three years if under age 65 at the date of policy issue
- Graded two years if 65 or older at the date of policy issue
- 100% paid after a graded period
- 100% paid for accidental death, all years
American Amicable Burial Insurance Riders
Grandchild Rider – this benefit allows you to have life insurance protection for grandchildren and great greatgrandchildren
Nursing Home Waiver of Premium Rider – waives your premium payment if you are confined in a qualified nursing home after 90 days of continuous confinement.
Children’s Insurance Agreement – provides up to $6,000 term insurance on your children.
Terminal Illness Accelerated Benefit Rider – 100% death benefit acceleration if you’re diagnosed with a terminal illness with a life expectancy of 24 months or less.
Accelerated Benefits Rider – if you’re confined to a nursing home, you can receive a monthly benefit equal to 5.0% of the death benefit amount per month.
OTHER BENEFITS:
POLICY LOANS – you can borrow up to 100% of your cash value. This is tax-free. Loans reduce your cash value amount and are subtracted from your death benefit. The interest on policy loans varies by state.
When Does American Amicable Burial Insurance Make The Most Sense?
Buying American Amicable burial insurance often only makes sense if you are a smoker.
They often have the best pricing for tobacco users. If you smoke cigarettes or chew tobacco, they are a good company to price check, especially if you qualify for the immediate benefit plan.
American Amicable also has many riders. If you’re after the additional benefits the riders provide, their burial insurance plans make the most sense.
American Amicable Underwriting Guidelines
Here are the health questions on the application:
1. Are you currently hospitalized, confined to a bed or nursing facility, using oxygen equipment to assist in breathing or receiving Hospice Care or home health care, or had an amputation caused by disease, or do you currently have any form of cancer (excluding basal cell skin cancer) diagnosed or treated by a medical professional or do you require assistance (from anyone) with activities of daily living such as bathing, dressing, eating or toileting? (Yes – No)
2. Have you had or been medically advised to have an organ transplant or kidney dialysis, or have you been medically diagnosed as having congestive heart failure (CHF), Alzheimer’s disease, dementia, mental incapacity, Lou Gehrig’s disease (ALS) liver failure, respiratory failure, or been diagnosed by a medical professional as having a terminal medical condition or end-stage disease that is expected to result in death in the next 12 months? (Yes – No)
3. Have you been medically treated or diagnosed by a medical professional as having Acquired Immune Deficiency Syndrome (AIDS), AIDS-related complex (ARC), or any immune deficiency-related disorder or tested positive for the Human Immunodeficiency Virus (HIV)? (Yes – No)
4. Have you ever been medically diagnosed or treated for complications of diabetes, including insulin shock, diabetic coma, retinopathy (eye), nephropathy (kidney), neuropathy (nerve damage/pain), or used insulin prior to age 50? (Yes – No)
5. Have you ever been medically diagnosed, treated, or taken medication for renal insufficiency, kidney failure, chronic kidney disease, or more than one cancer occurrence in your lifetime (excluding basal cell skin cancer)? (Yes – No)
6. Within the past 2 years have you had any diagnostic testing (excluding tests related to Human Immunodeficiency Virus (HIV), surgery, or hospitalization advised by a medical professional which has been completed or for which the results have not been received? (Yes – No)
7. Within the past 2 years have you:
- been medically diagnosed or treated for angina (chest pain), stroke or TIA, cardiomyopathy, systemic lupus (SLE), cirrhosis, Hepatitis C, chronic hepatitis, chronic pancreatitis, chronic obstructive pulmonary disease (COPD), emphysema, chronic bronchitis, or required oxygen equipment to assist in breathing? (Yes – No)
- had a heart attack or aneurysm, or had or been medically advised to have any type of heart, brain or circulatory surgery (including, but not limited to a pacemaker insertion, defibrillator placement), or any procedure to improve circulation? (Yes – No)
- been medically diagnosed, or treated, or taken medication for any form of cancer (excluding basal cell skin cancer)? (Yes – No)
- used illegal drugs, abused alcohol or drugs, had or been recommended by a medical professional to have treatment or counselling for alcohol or drug use or been advised to discontinue use of alcohol or drugs? (Yes – No)
8. Within the past 3 years have you been medically diagnosed or treated, or hospitalized for:
- stroke, angina (chest pain), heart attack, aneurysm, heart or circulatory surgery or any procedure to improve circulation? (Yes – No)
- or taken medication for any form of cancer (excluding colitis, cirrhosis, Hepatitis C, or liver disease? (Yes – No)
- paralysis of two or more extremities or cerebral palsy, multiple sclerosis, seizures, Parkinson’s disease or muscular dystrophy? (Yes – No)
If you answer “Yes” to the first three questions, you will not qualify for coverage with
American Amicable.
If you answer “Yes” to questions four to seven, you will only qualify for the Return of Premium Death Benefit Plan.
If you answer “Yes” to the number eight question, you will only qualify for the Graded Death Benefit Plan.
If you can answer “NO” to all the questions, you will qualify for their Immediate Death Benefit Plan.
American Amicable Pricing Examples
| FEMALE AGE | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
| 50 | $14.65 | $26.66 | $38.68 | $50.69 | $62.70 |
| 55 | $18.16 | $33.69 | $49.21 | $64.73 | $80.26 |
| 60 | $20.45 | $38.26 | $56.07 | $73.88 | $91.70 |
| 65 | $24.85 | $47.05 | $69.26 | $91.47 | $113.67 |
| 70 | $31.51 | $60.38 | $89.25 | $118.11 | $146.98 |
| 75 | $42.18 | $81.73 | $121.27 | $160.81 | $200.35 |
| 80 | $58.16 | $113.68 | $169.20 | $224.72 |
| MALE AGE | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
| 50 | $17.14 | $31.64 | $46.15 | $60.65 | $75.15 |
| 55 | $21.34 | $40.03 | $58.73 | $77.42 | $96.12 |
| 60 | $24.85 | $47.05 | $69.26 | $91.47 | $113.67 |
| 65 | $31.19 | $59.74 | $88.29 | $116.85 | $145.40 |
| 70 | $40.71 | $78.79 | $116.86 | $154.93 | $193.01 |
| 75 | $55.33 | $108.01 | $160.70 | $213.38 | $266.07 |
| 80 | $79.23 | $155.82 | $232.41 | $309.00 |
*Pricing for illustration purposes only and are subject to change without notice.
Getting Approved For American Amicable Burial Insurance
Applying for burial insurance with American Amicable is straightforward. You can be approved by phone or computer with a licensed agent.
| BURIAL INSURANCE APPLICATION PROCESS | |
|---|---|
| Rates & coverage | Agent can help provide help with this |
| Underwriting | Agent will help you qualify for the best plan |
| Beneficiary | You determine who will get your death benefit |
| Application | Agent submits application to insurance company |
| Approval | Congratulations on your new policy! |
| Policy start date | Policy active after 1st payment date |
| Policy delivery | 7-10 business days after first draft date |
The entire application process can be completed electronically in several minutes. To make your application quicker, have your important information readily available such as your address, beneficiary, and payment information.
The Best Payment Option
| PAYMENT METHOD | RECOMMENDED? |
|---|---|
| Savings Account | Best way to pay |
| Checking Account | Best way to pay |
| Cash | Not recommended |
| Money Order | Not recommended |
| Cashier's Check | Not recommended |
| Debit Card | Not recommended |
| Credit Card | Not recommended |
| Direct Express | Not recommended |
| PAYMENT FREQUENCY | RECOMMENDED | ACCEPTED BY |
|---|---|---|
| Monthly | Recommended | All Companies |
| Quarterly | Not Recommended | Some Companies |
| Semi-annually | Not Recommended | Some Companies |
| Annually | Not Recommended | Some Companies |
American Amicable Company Overview
Amicable Life Insurance Company was charted on February 2, 1909, and began business on April 2, 1910, in Waco, Texas.
They had been offering life insurance policies since then. Amicable Life Insurance Company has grown through the years. It changed its name to the American Amicable Life Insurance Company in 1965.
Industrial Alliance bought American Amicable Insurance Company for $145 million in 2010.
The American Amicable group of companies is also affiliated with:
- IA American Life Insurance Company
- Occidental Life Insurance Company of North Carolina
- Pioneer American Insurance Company
- Pioneer Security Life Insurance Company
These companies are all part of Industrial Alliance Insurance and Financial Services Inc.
American-Amicable Group markets life insurance products, including final expense, simplified term, universal life, modified life insurance, group term, and annuities. These policies are tailored to fit the customers’ needs, including civilians, government employees, and senior citizens.
AMERICAN AMICABLE FINANCIAL RATING
A.M. Best Company (one of the most reputable third-party rating agencies dedicated to rating life insurance agencies) has granted American-Amicable an “A” or excellent rating. Additionally, they are an accredited business and have an “A+” rating with the Better Business Bureau.
How Can Funeral Funds Help Me?
If you have been looking for the best premium rates from the American Amicable Life Insurance Company or any other insurance carrier – it is best to work with an independent life insurance agency like Funeral Funds.
Doing this will enable you to compare companies side-by-side regarding policy types and premium rates.
We can assist you in getting all the vital details you need to make a well-informed decision. We are an independent brokerage and work with many top-rated life insurance companies in the market today.
Call us at (888) 862-9456 if you have any general questions about American Amicable Life Insurance Company or life insurance. Fill in the quote box to get an accurate burial insurance quote.
Additional American Amicable Insurance Questions & Answers
Is American Amicable Life Insurance still in business?
Yes, American Amicable Life Insurance is still in business today. This company sells whole life, term life, and universal life insurance.
Is American Amicable Life Insurance legitimate?
American Amicable is a legitimate insurance company serving customers in the US.
Who owns American Amicable life insurance?
Industrial Alliance Insurance and Financial Services, Inc. acquired American Amicable Group in 2010.
How long has American Amicable been in business?
American Amicable has been in business for 110+ years.
What is American Amicable financial rating?
A.M. Best, a national rating agency, awarded American Amicable an “A” (excellent) financial rating.
What is American Amicable website?
Check out the American-Amicable website at https://www.americanamicable.com
What is American Amicable life insurance phone number?
American Amicable life insurance phone number is (800) 736-7311
What is American Amicable fax number?
The American Amicable fax number is 254-297-2105
What is American Amicable customer service number?
The American Amicable customer service number is (800) 736-7311
What is American Amicable email address?
American Amicable email addresses are:
General – contactus@americanamicable.com
Claims – claims@americanamicable.com
What is American Amicable members’ login?
You can access your American Amicable life insurance login here.
Where is American Amicable located?
American Amicable is located in Waco, Texas.
What is American Amicable corporate address?
425 Austin Avenue Waco, TX 76701
Where can I find American Amicable life insurance reviews?
Check out American Amicable life insurance reviews here.
Where can I find American Amicable BBB reviews?
Check out American Amicable BBB reviews here.
How can I get an American Amicable life insurance quote?
Get American Amicable quotes through their agents by clicking this link.
How can I make American Amicable insurance online payment?
Make American Amicable insurance payments by clicking the express pay link.
Can I pay my American Amicable life insurance over the phone?
No, but you can may an online payment through their website.
How can I access American Amicable life insurance claim form?
You can get an American Amicable life insurance claim form on their website.
Where can I check American Amicable life insurance complaints?
Check out American Amicable life insurance complaints here.
Who owns the Alico building in Waco?
The Alico building is owned by the American-Amicable Life Insurance Company of Texas.
How old is the ALICO building in Waco?
The Alico building in Waco, Texas, is now 110+ years.
How many stories is the Alico building in Waco?
The Alico building has 22 stories.
What are the different final expense or burial life insurance products offered by American Amicable?
American Amicable sells different final expense insurance products.
They call their final expense products by different names, such as:
- Lighthouse Legacy
- Golden Solution
- Senior Choice
How old do you have to be to apply for American Amicable insurance coverage?
You must be between 50 and 85 years old to apply for American Amicable insurance coverage.
Can you get first-day coverage with American Amicable?
Yes, American Amicable’s immediate death benefit plan comes with first-day coverage.
What are the pros and cons of American Amicable burial insurance?
Pros:
- Riders – they have many riders available (but some do cost extra money)
- Application process – the application can be accomplished over the phone
- Smoker friendly – their tobacco rates are competitive
Cons:
- More Expensive – you will typically pay more with American Amicable than with other companies
- Height & Weight Chart – you will not qualify for coverage if you are overweight.
How much life insurance can you get with American Amicable life insurance?
You can buy $2,500 to $35,000 coverage with American Amicable.
What does American Amicable life insurance cost?
American Amicable life insurance costs depend on age, gender, and the coverage amount. But, expect to pay between $15 to $310 every month.
Where can I get American Amicable insurance pricing?
| FEMALE AGE | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
| 50 | $14.65 | $26.66 | $38.68 | $50.69 | $62.70 |
| 55 | $18.16 | $33.69 | $49.21 | $64.73 | $80.26 |
| 60 | $20.45 | $38.26 | $56.07 | $73.88 | $91.70 |
| 65 | $24.85 | $47.05 | $69.26 | $91.47 | $113.67 |
| 70 | $31.51 | $60.38 | $89.25 | $118.11 | $146.98 |
| 75 | $42.18 | $81.73 | $121.27 | $160.81 | $200.35 |
| 80 | $58.16 | $113.68 | $169.20 | $224.72 |
| MALE AGE | $5,000 | $10,000 | $15,000 | $20,000 | $25,000 |
|---|---|---|---|---|---|
| 50 | $17.14 | $31.64 | $46.15 | $60.65 | $75.15 |
| 55 | $21.34 | $40.03 | $58.73 | $77.42 | $96.12 |
| 60 | $24.85 | $47.05 | $69.26 | $91.47 | $113.67 |
| 65 | $31.19 | $59.74 | $88.29 | $116.85 | $145.40 |
| 70 | $40.71 | $78.79 | $116.86 | $154.93 | $193.01 |
| 75 | $55.33 | $108.01 | $160.70 | $213.38 | $266.07 |
| 80 | $79.23 | $155.82 | $232.41 | $309.00 |
Is American Amicable insurance expensive?
American Amicable graded, and return of premium plans are expensive compared with other companies. The return of premiums plan comes with a 2-year waiting period.
Is American Amicable insurance go up every year?
No, American Amicable insurance products have a level premium feature where the premiums are fixed and guaranteed never to go up.
Do you need a medical exam to qualify for American Amicable burial insurance?
No, you don’t need a medical exam to qualify for American Amicable life insurance.
Does American Amicable ask health questions?
Yes, American Amicable ask health questions as an important part of their underwriting.
Does American Amicable have a waiting period?
The American-Amicable return of premium plan has a two-year waiting period.
What does the waiting period mean?
The two-year waiting period means American Amicable will not pay a death benefit to your beneficiary if you die from natural causes or non-accidental death. The company will only return all the premiums you paid plus 10% interest.
What other benefits does American Amicable offer?
American-Amicable offers different riders that provide additional benefits:
- Grandchild rider
- Children’s Insurance Agreement
- Nursing home waiver of premium rider
- Terminal Illness Accelerated Benefit Rider
- Accelerated Benefits Rider
How do I start a death claim?
You can start a death claim through the American Amicable members’ online portal.
Does American Amicable Life have a grace period?
American Amicable has a 90-day grace period to pay life insurance due to the pandemic.
Does American Amicable life insurance expire?
No, American Amicable life insurance plans do not expire. They will remain active if you pay your premiums on time.
How can I find a replacement for my American Amicable policy?
You can find a replacement for your American Amicable policy by working with an independent life insurance agent who can price shop for you and recommend the best insurance policy at the best price.
Ensure your American Amicable policy is active while looking for a replacement policy. When your replacement policy is active, you can cancel your American Amicable insurance by calling the customer service hotline.
How do I cancel my American Amicable account?
You can cancel your American Amicable life insurance by calling the customer service hotline at 800-736-7311. Speak with a representative, provide your policy number and personal information, and then request a policy and premium cancellation. They will confirm your cancellation via email.
