American Income Life Insurance Review & Ratings (2023)

Comparing American Income life insurance to larger companies such as State Farm and Allstate can be an effective way to save money. A company’s popularity doesn’t guarantee that they are the best option for you.

Most people aren’t familiar with lesser-known companies such as American Income. Continue reading to learn everything you need to know about American Income before you buy a policy.

Ready to learn more about American Income life insurance? Keep scrolling to learn more or enter your ZIP code to get free quotes from the top life insurance providers near you.

Is American Income Life Insurance legitimate?

American Income Life was founded in 1951. The company has provided life insurance services for more than 70 years. The company has grown consistently since it was founded.

The company says it has more than two million policyholders and $130 million in annual insurance sales.

American Income does have one subsidiary, National Income Life Insurance Company (NILICO) which operates in New York. To date, American Income Life is licensed in 49 states, Canada, and New Zealand.

American Income Life Insurance Company is a subsidiary of Globe Life Incorporated. The company and its members support many charitable causes.

Does American Income Life Insurance Company have good ratings?

Before you invest in an American Income life insurance policy, you’ll want to know the company is financially stable and that the company’s customer service is trustworthy.

Check out the company’s ratings on some of the following sites:

• A.M. Best: A (Globe Life)
• Fitch: A+
• Moody’s: Baa1 (Globe Life)
• Better Business Bureau (BBB): A+
• NAIC Complaint Index: 1.61

The American Income life insurance reviews are positive overall. Globe Life and its subsidiaries continue to be in good financial standing despite being downgraded from A+ to A by A.M. Best in 2020.

A.M. Best, Fitch, and Moody’s all agree that Globe Life, and ultimately American Income Life, are reliable financially.

Based on the company’s rating with the Better Business Bureau, complaints filed with the company are resolved promptly in most cases.

Based on the ratings above, it appears that American Income is a safe company to purchase a life insurance policy from.

What policies are available with American Income Life Insurance Company?

American Income Life offers several standard life insurance policies. American Income specializes in term and whole life insurance.

As an added benefit, American Income Life insurance policies feature a complimentary Terminal Illness Rider that allows policyholders to accelerate up to 50% of the death benefit if they are diagnosed with a terminal illness.

Most life insurance riders that offer accelerated death benefits do so with an additional cost. A life insurance agent can typically give you a better idea of how much each of those riders would cost.

With American Income, you can also purchase children’s life insurance through the company’s Head Start policy option for children up to age 17. The policy starts with $25,000 in coverage but can be increased to $150,000 in time.

More About American Income Life Insurance Company

American Income Life insurance could be a reasonable option for life insurance. As always, you’ll want to be sure you compare rates and policy details among different life insurance companies.

Before you commit to buying any life insurance policy, you’ll want to make sure the user experience is suitable for yourself as the policyholder and for your beneficiaries during the claims process.

If you want to make changes to your American Income Life insurance policy, it’s best to call the company’s toll-free customer service number and speak with an agent.

If you want to cancel your American Income life insurance policy, note that cash value accumulates only with a whole life policy.

If you end up in a situation where you are unable to pay your monthly premiums, American Income Life offers some non-forfeiture options. These options depend on your policy type since your accrued cash value can sometimes be used to pay your premiums.

As for the claims process, your beneficiaries will have to mail claim forms to company’s claims department in Waco, Texas. More information about the claims process is available on the company website.

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American Income Life Insurance Company: The Bottom Line

American Income life insurance could be a reasonable option if you’re searching for a new life insurance policy. The company has strong ratings and reviews alongside standard policy options.

Before you go, enter your ZIP code to get free quotes from the top insurance companies in your area.

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