Ameritas Life Insurance

Planning for your future | Life Insurance

Ameritas Life Insurance Review

There are a lot of great life insurance companies we have reviewed, and one of the best we have come across is Ameritas Life Insurance Corp. It is a subsidiary of UNIFI Mutual Holding Company, and has been around for over 130 years in the industry. Ameritas has undergone numerous takeovers and changes over the years, but one thing it has always delivered is reliable and solid life insurance policies.

The company has been given excellent financial strength and customer service ratings from the leading insurance rating agencies in the United States. If you have been looking for a great life insurance company to work with, then check out our review for Ameritas Life Insurance:

Ameritas Life Insurance Review

Company History

Founded in 1887, Ameritas Life Insurance Corporation is one of the oldest life insurance companies operating in the United States. It is a subsidiary of Ameritas Mutual Holding Company. Ameritas was known as ‘The Old Bankers Life Insurance Company of Nebraska (Bankers Life)’, for over a century, until the name was changed in 1988 to Ameritas Life. The company has operations in New York, where it is known as Ameritas Life Insurance Corp. of New York.

One of the best things about Ameritas Mutual Holding Company is that has an extremely financial background, with its funds valued in billions. Ameritas manages total assets of more than $30 billion, and serves over 4 million people in the United States. The total life insurance underwritings of Ameritas Life are over $90 billion, which makes it a financial powerhouse.

Ameritas is also a mutual insurance companies, which means it is run by policyholders, which means that profits are maximized for policyholders instead of stockholders.

Company Overview

One of the biggest and oldest names in the American life insurance industry is Ameritas. It has been around for over 130 years, and has shown no signs of going away. The company is renowned for offering affordable life insurance policies, and its outstanding customer service. Apart from their policies, Ameritas are also known for their financial products. It is a mutual holding company that places the best interests of policyholders ahead of anyone else.

There are several subsidiaries of Ameritas Mutual Holding Company, which are known as Ameritas Investment Corp., Ameritas Life Insurance Corp., Acacia Life, and Ameritas Life Insurance Corp. of New York. The headquarters of Ameritas is in Lincoln, Nebraska, and the company operates under the following names in the industry:

  • Ameritas Life Insurance Corporation
  • Acacia Life Insurance Company
  • Union Central Life Insurance Company
  • First Ameritas Life Insurance Corporation of New York (operates in New York state only).

There is an independent agency force employed by the companies, and Ameritas Investment Corporation underwrites all variable products.

Financial Stability Ratings and Customer Service Ratings

Ameritas Life Insurance Company has acquired some of the strongest and most reliable ratings for its financial stability and customer service record. The company has been rated by all 4 major insurance rating agencies and acquired excellent ratings of ‘A’ and above. The most recent rating was given in March 2017, and they were given a financial category of XIV ($1.5-2 billion).

They also received an ‘A+’ for their overall track record in the industry, which signals their immense strength. Ameritas Life Insurance Company has acquired formidable ratings, which places it right in the mix of the best life insurance companies in the United States. Here are the ratings given to it:

  • M. Best Company: A, Excellent
  • Standard and Poor’s: A+, Strong
  • Comdex rating: 82

Ameritas has exceptionally strong financials for a life insurance company, and it recorded total revenue for 2016 at $2.2. billion, while total assets under management were $26 billion.

Insurance Products Offered

When it comes to life insurance products, Ameritas Life Insurance has an extensive array of different policy options. They offer disability insurance, life insurance, and annuities among their products at affordable rates. Ameritas also offers people with products that protect the wage earner of the house, and people applying for mortgages.  Here are the life insurance products offered by Ameritas:

  • Whole Life Insurance
  • Variable Universal Life
  • Universal Life Insurance
  • Term Life Insurance
  • Indexed Universal Life

Ø  Term Life

Ameritas offers term life insurance with a level death benefit for the term. You can renew the policy annually when it expires, and can also convert it into permanent coverage with a whole life or universal life insurance policy.

Ø  Universal Life

Ameritas offers universal life insurance policies with great flexibility, as you can increase or decrease premiums based on the current cash value of the policy. You can also increase or decrease the death benefit based on the coverage you need, or if circumstances in your life change. The universal life insurance polices offered by Ameritas are:

  1. Guaranteed Universal Life
  2. Indexed Universal Life
  3. Variable Universal Life

Ø  Excel Plus Index UL

Ameritas offers Excel Plus Index UL, which is an indexed universal life policy that comes with a death benefit and high cash value build-up. You also get a 0% guarantee floor for indexed accounts, and 2% for fixed accounts. There are four main index options offered, which are:

  1. MSCI EAFE Index Capped
  2. Russell 2000 Index Capped
  3. S&P 500 Index Capped
  4. S&P 500 Index Uncapped

The Indexed Universal Life policy provides 3 different death benefit options, which include:

  1. Level death benefit
  2. Increasing death benefit plus cash value
  3. Level death benefit plus return of premiums paid subtracting partial withdrawals

The best thing about indexed universal life insurance policies is that you get early cash value growth. You can also take advantage of upward performances in the stock market, without worrying about negative moves, which ensures high compound interest.

Ø  Ameritas Whole Life Insurance

Ameritas provides participating whole life insurance policies, where you can build cash value that can be increased by capitalizing on cash value build-up. You also get guaranteed level premiums, guaranteed cash value growth, and guaranteed death benefits. You also get annual life insurance dividends, which are variable and can be used for:

  • Purchasing additional paid up insurance
  • Paying premium payments
  • Paying off existing loans
  • Keeping with the company and earn interest
  • Cashing out

    Universal Life& Whole Life Insurance Riders

    Ameritas Life Insurance company also offers life insurance riders with its Universal Life and Whole Life insurance policies. These riders are as follows:

    Ø  Care4Life Acceleration Rider:

    This works like an accelerated death benefit, because the rider offers you to withdraw the death benefit in advance if you suffer from a terminal, chronic, or critical illness.

    Ø  Guaranteed Insurability:

    This life insurance rider is perfect for young adults and children, and it lets you increase coverage on special occasions and birthdays.

    Ø  Flexible paid up rider:

    This life insurance rider lets you buy more life insurance without showing any proof of insurability.

    Ø  Children’s insurance:

    This is a child term life rider that can added to your policy, and it offers coverage to children from the age of 15 years to 18 years old.

    Ø  Waiver of monthly deductions:

    This life insurance rider helps waive of premiums if you have a disability or become disabled.

Disability Income Insurance

There are a lot of life insurance companies that offer disability income insurance, but none of them have better policies than Ameritas. It is recognized as the best in terms of individual long-term disability insurance policies in the United States. They offer incredible benefits with their disability income insurance policies, and have two main types, which are:

Ø  Short term disability insurance

This insurance policy offers income for a limited period, known as the benefit period, which could last for a year. This is a great policy, as it ensures you have a steady income stream for a select period if you get disabled. It ensures you don’t have to spend money from your emergency fund, and you can wait for your long-term benefits to activate without growing broke.

Ø  Long term disability insurance (LTD)

This insurance policy has an elimination period that goes from 6 months to a year. There is a benefit period that offers monthly income benefits that last for:

  • 2 years
  • 5 years
  • 10 years
  • Till age 65
  • Till age 67
  • Till age 75

The long-term disability insurance offered by Ameritas is offered in the Dinamic Foundation. This policy is flexible and can be customized to fit the needs of the policyholder. You can change the elimination periods, benefits, and total disability definition. Here are some of the features you are given:

  • Available for most occupational classes
  • Benefit periods 2, 5 and 10 years, and to age 65, to age 67 and to age 70
  • Elimination periods 90, 180, 365, 730 days
  • Guaranteed Renewable and Noncancelable policy options
  • Issue ages 18-64

Three definitions of total disability, including:

  1. True own occupation for benefit period
  2. Own occupation and not working for benefit period
  3. Five-year own occupation and then not working for remaining benefit period
  • Cost of Living Adjustment (COLA) Rider 3% simple or 6% compound interest.

For more information on Ameritas disability insurance, please get in touch with us today!

Ameritas Company products and Features

Other Products and Services

Ameritas also offers other products and services apart from life insurance policies and products, which include the following:

Ø  Dental Insurance

Ameritas offers hearing, vision, and dental insurance policies for people under different terms and coverage options. Their dental insurance policy isn’t the cheapest one available, but you should always compare policies to get the best one.

Ø  Retirement Planning

Ameritas also offers several products for retirement planning, so you don’t have to worry about money after you have retired from your job. The retirement planning products are designed to ensure you can spend the last years of your retirement in comfort and bliss.

Ø  Investments

Ameritas also offers outstanding investment products that will help you get a steady stream of income during your retirement. It doesn’t matter whether you want to build your estate or start a new business, the investment products at Ameritas will help you get the best returns for your investments.

Ameritas Company Summary

The Bottom Line – Ameritas Life Insurance Review

There are plenty of life insurance companies in the United States that leave a good impression on us after their review. However, Ameritas is one that we will recommend to anyone that is looking for affordable life insurance with flexible coverage options. The company has acquired strong financial and customer service ratings, which makes them a great choice for anyone.

Ameritas Life Insurance Company aren’t the biggest life insurance company in the United States, but they hold the distinction of being among the oldest insurance providers in the country. They have a excellent customer support and service record, and being a mutual holding company, they place the interests of their policyholders above everything else.

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