Americo Life Insurance Reviews – Rates and More!

americo life insurance reviews

This Americo life insurance review will give you all the details that you need if you are considering Americo life insurance to protect your family.  We will cover Americo ’s credit rating, history, and life insurance products.

There are hundreds of life insurance companies operating in the United States, but is Americo the right one for you? If you are considering purchasing life insurance with Americo, do not move forward without reading this review.

Shall we begin?

Americo Insurance Company History

Americo can trace its history back more than 100 years.  Modern-day Americo was built on the legacy of serval insurance companies, such as The College Life Insurance Company of America, The Ohio State Life Insurance Company, and Great Southern Life Insurance Company.

Americo and its legacy companies have a long history of innovation. In 1922 Great Southern Life was the first company in the United States to insure the lives of children, which was revolutionary for the time.

Today, Americo is still innovating in the life insurance industry. Americo is a leader in no-exam underwriting and designs creative life insurance solutions for hard working Americans, such as mortgage protection and final expense solutions.

The Americo  Insurance Company Rating

Americo is rated an “A” (Excellent) by A.M. Best.  “A” is an investment grade rating.  Americo can be viewed as being in excellent financial health with the ability to meet its ongoing life insurance obligations. Americo Insurance Company as of the writing of this article has not been accredited by the BBB.

Americo Insurance Solutions

Americo offers mortgage protection term life, burial insurance, universal life, and whole life insurance.  They also offer other financial services products, such as annuities and Americo Medicare supplement insurance.  However, for the purposes of this review, we will focus strictly on their life insurance products.

Americo Mortgage Insurance Series

Term life insurance is a cost-effective way of achieving higher death benefits temporarily.  Term insurance is a great solution for replacing your income, covering your mortgage, or providing funds for higher education upon your passing.

Americo offers term life insurance in 10-year, 15-year, 20-year, and 30-year term options.  Your monthly premium will remain fixed for whichever term period you select. Also, Americo’s mortgage protection series comes stacked with living benefits for critical, chronic and terminal illness.

Although Americo’s term insurance customized for mortgage protection, it can be purchased even if you do not own a home.  Americo’s mortgage insurance is available without the hassle of a medical exam up to $400,000 death benefits. There are companies that will approve up to $500,000 of no-exam term life insurance if you want a higher death benefit amount with living benefits.

In addition, Americo is one of the few life insurance companies that offers a return-of-premium (ROP) option. The ROP option will refund all the premiums that you paid into the policy at the end of your term if you outlive your policy.

Finally, Americo’s home mortgage series offers great flexibility. You can protect your mortgage with a lump-sum death benefit, you can cover just the payment, you can add on disability protection. Americo offers a mortgage protection solution for just about everyone.

Americo Home Mortgage Series Optional Riders:

  • Disability Income
  • Accidental Death
  • Additional Insured
  • Waiver of Premium (due to disability)
  • Involuntary Unemployment Waiver of Premium
  • Children’s Term (up to $15,000 per child)
  • Income Term Rider

Americo Burial Insurance

Americo has two burial insurance policies, the Ultra Protector series and the Eagle Premier series.  Americo’s Ultra Protector series has competitively priced rates but has tighter underwriting.  Unfortunately, the Ultra Protector series doesn’t allow a phone application or e-application.

The Eagle Premier series is the more flexible of the two burial insurance policies.  The Eagle Premier burial insurance policy offers competitive rates and is priced to accommodate people with more complex medical histories. Also, Americo’s Eagle Premier policy includes an additional accidental death benefit equal to the face amount of the policy at no additional premium.

Americo also offers a “quit smoking advantage” program that will offer non-smoker rates for the first three years of the policy while an applicant quits.  If the applicant fails to quit smoking, the policy will either rerated or the death benefit adjusted downward to maintain a level premium.

Americo’s Eagle Premier series also offers an instant decision electronic or phone application. Now, seniors can apply for burial insurance either through their email or over the phone and get an approval immediately. This is a huge advantage that not many other burial insurance companies offer.

Americo Whole Life Insurance

Whole life insurance is a form of permanent life insurance. Whole life insurance is designed for permanent life insurance needs like final expenses and burial costs or estate planning. Whole life insurance provides lifelong death benefit protection with the most guarantees of any life insurance policy.

Whole life has guaranteed cash accumulation, guaranteed level premiums, and guaranteed death benefits. The cash value can also be accessed through tax-advantaged loans in a pinch.

Americo offers non-medical underwriting for death benefits under $100,000 for their AdvantageWL whole life insurance.  This allows applicants to avoid the hassle of the medical exam.  Also, the AdvantageWL is available at younger ages than Americo’s final expense whole life policies.

Americo Universal Life

Americo also offers universal life policies, which is another type of permanent life insurance policy. Universal life insurance was designed to offer permanent death benefit with flexibility.  For example, you can select the monthly premium that you wish to pay with universal life insurance.

However, these types of policies usually come with fewer guarantees than whole life insurance.  The owner of the policy assumes the investment risk of the cash value.  If the policy was not funded adequately, then the coverage could lapse.

Americo offers the following types of universal life insurance:

  • Universal Life Insurance
  • Indexed Universal Life Insurance

Universal Life Insurance

Americo offers a traditional universal life insurance policy.  These types of policies have decreased in popularity in recent years due to a low-interest-rate environment but still can make sense in some scenarios.

Universal life insurance has a fixed minimum interest rate, but the credited rate, which is not guaranteed, can fluctuate higher.  Americo ’s universal life insurance policy offers great flexibility with flexible premiums and policy cash values.

Indexed Universal Life Insurance 

Indexed universal life insurance is another type of universal life insurance.  Americo ’s indexed universal life insurance policy provides death benefit protection with the potential to grow your cash value with three index account strategies or a competitive fixed rate account.

The cash value in an indexed strategy increases based on changes in a market index such as the S&P 500.  Since your cash value is not directly invested in the stock market itself, your investment principal is protected from investment loss due to the decreases in the index.  However, you often have to sacrifice some upside investment return as a result.

These types of policies should be monitored on a regular basis to ensure that they are being funded adequately.  If the indexed investment strategy doesn’t perform as expected, the policy could potentially lapse.

Americo Rates

We have included some sample Americo life insurance quotes to illustrate just how great Americo’s life insurance is.  Please note that you need to qualify for these rates based on your health, lifestyle, and other factors.

Sample Americo Life Insurance Quote: HMS 100 Term (Age 30)

Death BenefitMale 20-YearMale 30-YearFemale 20-YearFemale 30-Year
$ 100,000
$23.66
$29.74
$23.66
$29.74
$ 250,000
$47.74
$71.01
$47.74
$62.94
$ 400,000
$71.82
$96.14
$71.82
$96.14

Please note that these Americo Life Insurance quotes are for the standard non-tobacco health class. 

Sample Americo Life Insurance Quote: HMS 100 Term (Age 40)

Death BenefitMale 20-YearMale 30-YearFemale 20-YearFemale 30-Year
$ 100,000
$42.47
$49.50
$38.00
$49.50
$ 250,000
$83.60
$112.34
$83.60
$112.34
$ 400,000
$129.20
$175.18
$129.20
$175.18

Please note that these Americo Life Insurance quotes are for the standard non-tobacco health class.

Sample Americo Life Insurance Quote: HMS 100 Term (Age 50)

Death BenefitMale 20-YearMale 30-YearFemale 20-YearFemale 30-Year
$ 100,000
$75.15
$110.49
$75.15
$110.49
$ 250,000
$176.46
$264.81
$176.46
$264.81
$ 400,000
$277.78
$419.14
$277.78
$419.14

Please note that these Americo Life Insurance quotes are for the standard non-tobacco health class.

The Final Word

Thank you for reading our Americo life insurance review. Americo has a long company history of serving their policyholders  The Americo Insurance Company phone number is 1-800-231-0801 or you can visit them on the web.

Today, Americo offers life insurance, Medicare supplement insurance, and annuity services to their policyholders.  Overall, Americo’s life insurance is a solid option if you want to protect your mortgage or cover final expenses.

If you have a pre-existing medical condition or are looking for higher term life insurance amounts, there may be a better option out there for you. Give one of our veteran agents a call or request a free no-obligation quote today. A simple phone call could potentially save you thousands of dollars on your life insurance.

Joseph Cirillo of Good Life Protection

Joe is a lifelong learner with a passion for sharing what he has learned with others. Joe has publicly spoken on life insurance in the past to both colleagues at industry conferences and to consumers in educational settings and as a contributor to industry blogs.  Additionally, Joe is studying for certifications such as the CFP, CLU, and RICP to further his professional knowledge.