Occidental Life Insurance Review & Ratings (2022)

Occidental Life Insurance Company is a part of the American-Amicable Group. Founded in 1904, Occidental has a long-standing history of providing life insurance products. Occidental's A.M. Best and Fitch ratings for financial strength are strong although its NAIC Complaint Index could use some improvement.

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Chris Tepedino is a feature writer that has written extensively about home, life, and car insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and C...

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent

UPDATED: Dec 28, 2021

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The Rundown

  • Occidental Life Insurance Company is a part of the American-Amicable Group of Companies
  • Occidental has good financial strength ratings, but the company tends to field more complaints than usual
  • You’ll have a few Occidental life insurance policy options to choose from with a handful of convenient riders

Buying life insurance is an important decision that typically requires a long-term commitment. Comparing Occidental life insurance policies with reputable insurance brands could help save you money.

With smaller companies like Occidental, it can be challenging to find ratings and reviews. We’ll provide all of the available information that you’ll need to decide whether or not you should buy Occidental life insurance.

Keep scrolling to learn more about Occidental life insurance, or enter your zip code to get free quotes from the top life insurance companies in your region.

Is Occidental Life Insurance Company any good?

Occidental Life Insurance Company of North Carolina is a smaller entity that’s affiliated with the American-Amicable Group of Companies. The company was founded over a century ago, so there’s a strong history of service.

It appears that Transamerica and Aegon US Holding Group-owned Occidental Life Insurance Company at one point, but the company has since moved.

Despite the official name, Occidental Life Insurance Company of North Carolina is actually based out of Waco, Texas. American Amicable companies are based out of the historical ALICO building in Waco.

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How are the reviews for Occidental life insurance?

As a subsidiary of a larger organization, Occidental may have a limited number of ratings and reviews that directly represent the company. This is common with life insurance companies as the rating agencies tend to focus on larger corporations.

There are two major classifications of ratings that you’ll want to be aware of, financial strength and customer service. There are a handful of organizations that help identify these ratings for consumers.

American Amicable and Occidental Life Insurance Company share the following ratings and reviews:

  • A.M. Best: A-
  • Fitch: A
  • Better Business Bureau (BBB): A+
  • NAIC Complaint Index: 2.66

As mentioned previously, it’s hard to come by ratings for Occidental directly. Even American Amicable is considered a smaller company that falls outside of the top life insurance companies by market share.

In any case, there are some ratings available for the two collectively. For financial strength, A.M. Best and Fitch have each rated American Amicable highly.

A company’s financial strength ratings are essential because they help prospective policyholders know whether or not a company is financially stable.

When you’re expecting a major death benefit that totals hundreds of thousands of dollars, the insurer has to be reliable. As with any company, it’s also important to know that a company is fair to its customers.

In this case, there is some cause for concern given the NAIC Complaint Index. This score suggests that Occidental fields almost three times as many complaints as other industry competitors.

On the bright side, the BBB rating indicates that they are at least proactive in resolving those complaints. Their customer service could use some improvement overall.

What Occidental life insurance policies are there?

It can get a little confusing when searching for an Occidental life insurance policy. When you try to visit the Occidental Life Insurance Co website, you will be redirected to the American Amicable website.

From there, you’ll find that there are a few different policy options which include:

Each policy has different pros and cons that should be considered based on your personal situation. In short, the best policy for you will depend on how much life insurance you need, if you want cash value, and how dependent your beneficiaries are on your income.

Most people choose term life insurance since it is the most affordable on a monthly basis while yielding a significant death benefit to provide financial stability to your beneficiaries.

With Occidental life insurance, you will be able to choose term lengths of 10, 15, 20, 25, or 30 years. This means you will pay the same monthly rate over the course of the term or until death, whichever occurs first.

Occidental’s term life insurance policies have some nice features that could be helpful if you experience certain unexpected life challenges. You can include life insurance riders on your policy to make it more flexible.

The life insurance riders offered by Occidental include:

  • Disability income rider
  • Terminal illness accelerated death benefit rider
  • Accelerated benefits rider – confined care (long-term care)
  • Chronic illness accelerated death benefit rider
  • Accelerated living benefit rider – critical illness

These riders come with different options, so you’ll need to get more detailed information from an agent if you decide to pursue an Occidental life insurance policy.

Another convenient feature that Occidental life insurance includes is a return of premium option. Occidental advertises this as Easy Term Return of Premium Plan, and it enables a 75% return on your premiums if you outlive your original term length.

Again, these riders and policy options typically come at an added price. This price will most likely vary from person to person.

How much does Occidental life insurance cost?

Occidental life insurance will have different price points for different policy types. This can be a little confusing when you consider the flexibility associated with universal life insurance policies.

Occidental’s term and whole life insurance policies will have level premiums, but the amounts can be different for each policyholder depending on health status, age, and gender.

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It’s hard to guarantee any company’s life insurance rates, and smaller companies like Occidental are even more difficult. While we don’t have direct rates available for Occidental, we do have sample rates from American Amicable, which should be comparable.

Sample American Amicable Life Insurance Rates for a 20-year, $250,000 Policy
AgeMale, Non-smokerMale, SmokerFemale, Non-smokerFemale, Smoker
25$25.65$56.48$17.78$42.53
30$26.10$60.75$19.35$54.90
35$29.25$89.33$23.85$67.50
40$40.28$143.10$31.05$106.20
45$59.85$219.15$42.98$162.23
50$87.75$315.00$58.50$234.90
55$132.75$436.50$84.83$325.58
60$190.35$613.80$136.35$456.30
65$330.53$1,062.00 $238.73$658.80
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Above, you can get an idea of how much you would pay for a policy with Occidental Life Insurance Company. Although the rates are specific to American Amicable, the affiliation between the two companies could mean that they share similar rates.

You can see that American Amicable puts a hefty price on smoking. Rates for smokers can be over three times more expensive than for non-smokers. Each company weighs these types of factors differently.

Comparison of American Amicable Life Insurance Rates for a 20-year, $250,000 Policy
AgeAmerican AmicableJohn HancockLiberty MutualNationwidePrudential
25$25.65$14.21$33.30$23.59$19.03
30$26.10$14.79$33.75$16.02$20.35
35$29.25$16.86$39.60$16.02$20.78
40$40.28$22.09$55.13$21.36$24.50
45$59.85$31.54$78.53$35.16$29.97
50$87.75$49.24$144.68$53.85$45.50
55$132.75$78.24$220.95$80.77$71.53
60$190.35$116.99$399.83$180.23$129.07
65$330.53$202.24N/A$279.24$242.60
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Compared to some industry competitors, American Amicable’s life insurance rates are more expensive. This doesn’t mean that your Occidental life insurance rates will definitively be more expensive at all times; however, there’s a good chance that you’ll be able to find more affordable quotes.

At the end of the day, it’s important to get quotes from multiple providers so you can find the best rate from the most reliable company.

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More About Occidental Life Insurance

Occidental Life Insurance Company has some nice policy options with reasonable rates. If you feel comfortable buying a policy from Occidental based on the information thus far, you’ll need to make one last consideration.

Some life insurance providers have an easier claims process than others. If your beneficiary is going to struggle to submit a claim, then the policy is virtually useless.

As a policyholder, you can use your Occidental life insurance login to change any information related to your policy, such as your address or beneficiaries.

For your beneficiaries, they can find claims forms directly on the company website. It appears that these forms will need to be mailed in, although there is a claims email listed on the claims form as well.

If they have any doubt about the claims procedure, they should be able to reach someone by calling the Occidental life insurance phone number.

For what it’s worth, many companies now allow claims to be completed online, which is much easier to manage and track. Occidental is still behind in this regard.

Occidental Life Insurance Company: The Bottom Line

Occidental life insurance could be worthwhile if your quotes are competitive with other life insurance providers. Be aware of potential customer service issues.

We hope you enjoyed reading our Occidental Life Insurance Company review. Before you go, enter your ZIP code to get free quotes from the best life insurance companies in your area.

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