Americo Life Insurance Review

Written by Ross Quade

Company Contact Info:
Call: 816-391-2160
Fax: 896-391-2246
Email: [email protected]
Mailing Address:
PO Box 410288 Kansas city, Missouri 64141

Americo Life and Annuity Insurance Company is currently one of the larger privately owned and operated insurance companies in the United States. It has been in operation for over a century and as of today, has thirty-seven billion dollars ($37 billion) of insurance in force. Americo Life and Annuity has six hundred and fifty-nine thousand (659,000) under the current administration and with over six billion dollars ($6 billion) in assets on hand.
The Americo Life Insurance Company claims to pride themselves on their commitment to providing their customers with trusted and personalized service; with policyholders, employees and agents is what makes this company work.

Americo Life Insurance Company also states that they are easily accessible, solutions-oriented, and progressive in their thinking. They provide their customers with product solutions that have the capability to meet the requirements of just about any potential client. Their agents will customize or specially tailor any policy to fit any unique needs of their customers.

History

Americo Life Insurance has been operating for over one hundred (100) years. Along the way have acquired fifteen additional insurance entities-each that they state was picked up for an ornate reason of which ultimately provided the growing company with distinct advantages.
• In 1922, Great Southern Life (one of the added entities) became the first insurance company in America to insure the lives of children.
• In 1971, Great Ohio State (one of the added entities) became the first insurance company in America to extend death benefits to withstand the life of the policyholder.
• In 1981, the acquired Great Southern Life became the first insurance company to offer universal life insurance policy coverage.

Positives

Americo Life Insurance Company boasts an A, or excellent, rate from A.M. Best, which is considered to be the premier leading rating agency in assigning insurance companies reviewable rates.

One of the primary benefits of Americo Life Insurance Company has to do with its burial insurance and final expense insurance. These policies are referred to as the Ultra Protector Series, of which are available in three varieties.

• The Ultra Protector III- or the three (3) year graded benefit
-The policy face value extends from two thousand (2,000) to ten thousand (10,000)
-This policy is guaranteed issue with no medical exam or questions
-Applicable for age fifty to seventy-five (50-75)
-Death benefits equal 5% in year 1, 10% in year 2, and 15% in year three

• The Ultra Protector II- or full death benefit
-The face value of this policy is from two thousand to thirty thousand (2,000-30,000)
-Full death benefits available from day one
-Applicable from ages fifty to eighty (50-80)
-To be considered an acceptable candidate the consumer must answer “no” to all of the questions on the first page of the application

• Ultra Protector I- or full death benefit
-The policy face value ranges from two thousand to thirty thousand (2,000-30,000)
-Applicable for ages fifty to eighty-five (50-85)
-Full death benefits available from day one
-To be considered an acceptable candidate for this policy the consumer must answer no to all of the questions on the entire application

Negatives

There are many negative consumer reviews posted through the Better Business Bureau. Most all of these complaints against Americo are in reference to one of the following areas of business. Problems with Americo’s products and/or services, issues with Americo’s delivery of promised services, problems with the billing and collection departments, as well as issues with advertising and sales by Americo Life Insurance Company.
According to the BBB Americo has attempted to address all of the complaints filed against them in a good faith effort to resolve the situations, however, the consumer did not respond.

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Ross Quade
Ross Quade has been a licensed insurance agent since 2008. State of Texas license #1702965. He has a Bachelor Degree in Psychology from University of Minnesota and minored in Applied Economics. He has been quoted in several online publications including Huffington Post, Young Startups and various financial blogs. Ross frequently writes about issues related to the insurance and finance industry.
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