American National Insurance Company Review- The Good and Bad

This American National Insurance Company review will dive deep in the to the storied history, a-rated financial strength, and chart-topping rates of American National Insurance Company (ANICO).  When you look at the list of top-rated life insurance companies in the United States, you are bound to find that American National Insurance Company will be at the top. There aren’t many life insurance companies that can maintain that level of quality and expertise. They are one of the few that we would consider the best life insurance companies in 2018.

America National Life Insurance Review

American National Insurance Company is regarded as a leader in innovation, and has made access to coverage affordable, quicker, and simpler for everyone. This multi-line insurer operates throughout the United States, and is a dominant force in the life insurance market. They offer an extensive range of life insurance, designed to with built-in chronic, critical, and terminal illness riders, to suit the needs of families and individuals alike.

If you have been in the market for life insurance products, and want a reliable, professional, and certified company, you will struggle to find a better company than American National Insurance Company. We are going to take a closer look at the company in this review, and will provide you with insight on why it is regarded as a giant in the industry.

American National Insurance Company Overview

American National Insurance Company also known as ANICO was created by a man named William Lewis Moody, Jr. in 1905. The headquarters of the company are in Galveston, Texas and it offers a comprehensive line of financial and insurance products, with a network of agents that crosses 50 states. They are one of the largest life insurance companies in the United States and offer life insurance, property and casualty insurance, agribusiness, pension products, credit insurance, health insurance, annuities, and commercial insurance to consumers.

There are more than 3,000 employees working for American National Insurance Company in the United States, which ensures they can provide outstanding services to everyone. The SEC report states that ANICO has assets totaling more than $23 million. Their subsidiary company ANPAC is headquartered in Springfield, Missouri, and their further operations have offices in League City, Texas, and Glenmont, New York.

One of the biggest strengths of ANICO is community outreach. They are serious about philanthropic activities, which include fundraising and volunteering for a host of organizations, which include Children of the Ozarks, Boys & Girls Clubs, The United Way of the Ozarks, Salvation Army, and more.

American National Insurance Company Ratings and Financial Strength

The biggest indicators of a great life insurance company or any other company is their financial strength and stability. When you look at the finances of American National Insurance Company, the numbers are very impressive.

The American National Insurance Company ratings are investment grade and their outlook is stable. The company comfortably meets its financial obligations, while it has achieved continuous growth, and delivered success and returns on investment. They were given ‘A’ rating from S&P’s Financial Services, LLC, while A.M. Best, another insurance rating organization also gave an ‘A’ rating to them.

Good Life Protections Grade Report of American National Insurance Company
American National Insurance Company and Overall Product Grade Report 95%

American National Customer Service, Awards and Recognitions

The financial strength of an organization is one of the best ways to judge the performance of that company. When choosing a life insurance company, you should always look at their customer service record.

A life insurance company that isn’t able to keep current customers happy, or attract new ones isn’t a company you want to get life insurance from. ANICO isn’t accredited by the BBB, which means it has no ratings given to it by the Better Business Bureau.

However, the Better Business Bureau has revealed on their website that no company is under obligation to get accredited. ANPAC states on their company website that over 96% of customers claimed in a survey that they wouldn’t mind referring ANPAC to their friends.

The outstanding customer support services, also saw ANPAC win MQA (Missouri Quality Award) for excellent customer service and management of organizational performance. Forbes Magazine also featured ANICO among their list of “The 100 Most Trustworthy Companies”.

American National Financial and Insurance Products

The American National Insurance Company offers people in 50 states the chance to acquire all kinds of insurance plans and policies. They have an extensive range of insurance and financial products, including property and casualty insurance and annuities.  For the purposes of this review, we are going to look at their main life insurance offerings in greater detail:

ANICO Signature Term

ANICO provides a fully-underwritten product for level term life insurance.  However, ANICO may waive the medical exam and medical records requirement for select applicants up to $1,000,000 of death benefits!

ANICO’s term pricing is affordable and stacked with value in the form of built-in critical, chronic, and terminal illness riders for no additional premium.  American National Signature Term life insurance is suited for anyone that wants temporary insurance for up to 30 years. This policy offers complete security and protection, and comes in four separate terms, which are 10, 15, 20, and 30 year terms.

American National Insurance Company also offers one of the best conversion options in the industry on their term life insurance.  Policyholders can convert their term life insurance into any of the permanent products that ANICO makes available for conversion, which currently includes their universal life, guaranteed universal life, indexed universal life, and whole life insurance products.

ANICO Signature Guaranteed Universal Life Insurance:

This insurance policy offers guaranteed lifetime death benefit protection to policyholders, with an option to cash-out policy in the future. The Signature Guaranteed Universal Life Insurance offers the following benefits:

  • Provides for basic needs of the family
  • Maintains living standards of the spouse in retirement years
  • Continuation of family business
  • Complete children’s education
  • Pay taxes and final expenses
  • Exercise Accelerated Benefit Riders (ABR) in case of chronic illness, critical illness, or terminal illness.
  • Tax advantage wealth transfer

The best thing about this insurance policy is that you get complete flexibility, and are in complete control of the policy. The guaranteed death benefits and special features like late payment forgiveness is what makes this insurance policy special. In addition, select applicants can be accelerated through the underwriting process without having to take a medical exam or provide medical records for death benefit amounts up to $1,000,000!

ANICO Signature Indexed Universal Life Policy

This is a permanent life insurance policy, that provides death benefit with cash value. The insurance policy earns interest based on the performance of an index, and you can adjust the premiums.

This life insurance is great for cash value accumulation while protecting loved ones in the event of premature death of a policyholder.  The death benefit proceeds can be used to payoff the mortgage balance, pay for higher education expenses, or replace lost family income.

The cash value is credited interest payments based on the performance of a specific market index. However, your principal is never directly invested within the stock market itself so there is no loss-of-principal risk.

American National Insurance Company also includes their living benefits for critical illness, chronic illness, and terminal illness within their indexed universal life contract.  This gives allows ANICO’s IUL contract to be incorporated into chronic illness planning later on in life.

ANICO Signature Whole Life

American National Insurance Company also offers a participating whole life insurance contract to customers.  Whole life insurance offers both guaranteed cash value and guaranteed death benefit.

ANICO’s whole life also awards dividends at the end of the year based on company performance.  Dividends are not guarenteed, but American National has a long history of paying dividends to policyholders.  These dividends can be reinvested within the policy to increase the death benefit and cash value of the policy.

The Signature Whole Life has ANICO’s built-in living benefits for critical illness, chronic illness, and terminal illness at no additional premium. This allows policyholders to accelerate the death benefit while they are still alive in select instances for serious medical conditions.

ANICO Executive Universal Life

American National Insurance Company also offers a traditional universal life policy.  Universal life is known for offering permanent death benefits with flexible premiums and cash accumulation. ANICO’s universal life insurance policy includes the living benefits for critical illness, chronic illness, and terminal illness for no additional premium as well.

ANICO’s universal life insurance policy has a variable interest rate and a secondary safety-net guarantee to prevent the policy from lapsing within the first ten years.  However, since the secondary guarantee is not lifelong, the policy should be monitor on a regular basis to ensure it is being funded adequately to provide coverage over the long term.

Traditional universal life insurance was more popular when interest rates were higher. However, it may fill a niche for a certain segment of the marketplace today.  If interest rates were to start rising, universal life may begin to make a resurgence in popularity.

Sample American National Signature Term Rates

We have included some sample ANICO Signature Term life insurance quotes.  Please note that you need to qualify for these rates based on your health, lifestyle, and other factors.

Sample ANICO Life Insurance Quote: Term (Age 30)

DEATH BENEFIT MALE 10-YEAR MALE 20-YEAR FEMALE-10 YEAR FEMALE 20-YEAR
$ 250,000
$ 20.52
$ 28.94
$ 18.58
$ 24.62
$ 500,000
$ 19.44
$ 17.28
$ 29.38
$23.33
$ 1,000,000
$ 32.83
$28.51
$ 52.70
$ 41.47

Please note that these ANICO Life Insurance quotes are for the preferred best non-tobacco health class. 

Sample ANICO Life Insurance Quote:Term (Age 40)

DEATH BENEFIT MALE 10-YEAR MALE 20-YEAR FEMALE-10 YEAR FEMALE 20-YEAR
$ 250,000
$ 27.86
$ 25.06
$ 40.61
$ 35.64
$ 500,000
$ 25.92
$ 22.90
$41.04
$ 35.42
$ 1,000,000
$ 44.93
$ 38.88
$ 76.03
$ 64.80

Please note that these ANICO Life Insurance quotes are for the preferred best non-tobacco health class. 

Sample ANICO Life Insurance Quote: Term (Age 50)

DEATH BENEFIT MALE 10-YEAR MALE 20-YEAR FEMALE-10 YEAR FEMALE 20-YEAR
$ 250,000
$ 55.94
$ 45.79
$ 88.78
$ 66.96
$ 500,000
$ 58.78
$ 47.52
$ 99.36
$ 76.03
$ 1,000,000
$ 105.41
$ 87.26
$ 188.35
$ 139.97

Policy ServicesPlease note that these ANICO Life Insurance quotes are for the preferred best non-tobacco health class.

American National offers client services, to all policyholders. The client services offered allows policyholders to report claims online, make payments, and get ID cards for insurance print outs. Clients can visit the website to check out the library and find information related to loss prevention or for finding a nearby repair center for collisions.

Our Verdict

This American National Insurance Company review has covered everything that you need to know about ANICO before moving forward with a life insurance policy.  They are have been making good on their promises since 1905, are financially strong, and provide low-cost term life insurance with added protections for critical illness, chronic illness, and terminal illness.

If you are looking for a big name in the industry that provides a comprehensive product range for insurance with great ratings for financial strength, along with outstanding customer service, American National Insurance Company is the one. The organization has been in business for over 100 years, and their discounts and products are all unique.

American National also offer combined deductibles for auto, home, and classic car insurance if you have both policies from ANICO.You can check out the website of ANICO for more information related to their financial and insurance products.

The Final Word

Thank you for reading our American National Insurance Company Review. We think that American National Insurance Company (ANICO), is one of the best life insurance service providers in the United States, which has earned them a spot in our brokerage. American National Insurance Company offers an extensive range of life insurance options, and outstanding discounts for consumers.

If you are looking for affordable life insurance with living benefits, do not hesitate.  Give one of our veteran agents a call or request a quote today!

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