Is American Progressive Life and Health Insurance a good insurance company?
UPDATED: Sep 24, 2012
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Asked September 24, 2012
American Progressive Life and Health Insurance is a subsidiary company of Universal American Financial Corporation. They sell two lines of insurance: Life and Health, while the parent company and other subsidiaries handle other insurance lines. The company was founded in 1945 and their focus is on seniors, providing them with affordable insurance products. The company is traded on the NYSE under the parent company ticker symbol of UHCO.
A.M. Best Company has rated American Progressive Life and Health as a B++, indicating that the company is viable and likely to remain strong in the foreseeable future. However, since the rating is a step below the lowest A ratings, care should be taken. Before signing an insurance contract, it would be a wise decision to check back with ratings agencies such as A.M. Best Company or Moody's to find out how the ratings may have changed. An A- or higher rating would be a preferable choice as those ratings indicate a stronger company with a higher potential for growth.
Aside from the most common complaints regarding rates and customer service, American Progressive Life and Health is a well-liked company with a strong following. They concentrate on reaching seniors, and offer packages that are designed especially for the older age brackets.
American Progressive Life and Health is licensed to sell insurance in 12 states, primarily in the Northeastern United states: Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, and West Virginia.
The Bottom Line
American Progressive Life and Health Insurance is a strong and growing company which has placed itself in a viable niche. Aside from a less than perfect financial rating, the company has shown itself to be a reliable insurer. Keep in mind to recheck the financial ratings for changes before you purchase, but American Progressive Life and Health Insurance is generally considered a safe company both for consumers and investors alike.
Answered September 24, 2012 by Anonymous