July, 26 2017

855-322-0783

Life insurance reviews, news and prices from the top companies

American Family Life Insurance Review 2016

American Family Life Insurance Review 2016

Author
  • Price
  • Financial Strength

American Family Life Insurance Review 2016

Pros: Discounts– American Family Insurance offers a five percent discount on their auto insurance rates if you or a member of your household has both an auto and life insurance policy with them. Variety of Life Insurance Products– American Family Insurance offers a wide range of life insurance policy options including: no medical exam life insurance, term life insurance, universal and whole life insurance.  Local Agents– American Family Life Insurance still uses a local agent business model.  Many consumers still prefer to conduct business with someone face to face with a brick and mortar office in their community. Size– American Family Insurance is a Fortune 500 company (#373 in 2014) with revenues in 2008 exceeding $6.7 billion. Convenience– Similar to other well-known auto and home insurers such asAllstate, Farmers, Nationwide and State Farm– American Family Insurance offers property and casualty insurance.  This allows customers to bundle all of their insurance policies with one company. In addition to life insurance, American Family Insurance offers products such as; home, auto, umbrella, business, health, farm and ranch insurance, recreational vehicle, business and travel insurance. 

Cons: Their aren’t too many cons with this company.

Bottom Line: American Family Insurance is a Fortune 500 company that operates in 19 states and has been around for more than 80 years.  Their extensive product selection offered by their life insurance division- American Family Life Insurance Company is impressive.  With a recent rate reduction their life insurance prices are competitive with many of the top insurers in America.  As we suggest with every company we review, we recommend you receive a quote from American Family Life Insurance but also from the other top companies as well and choose the best one.

 

About

Type: Mutual

Issued by: American Family Life Insurance Company

Founded: 1927

Website: amfam.com/products/life/default.asp

Phone: (800) 692-6326

Address: 6000 American Parkway, Madison, WI 53783

A.M Best Rating 2016: A (Superior) Third highest of 16 possible ratings

Comdex Ranking: 82 out of 100

BBB Rating: B+ (American Family Insurance)

States Conduct Business in: Arizona, Colorado, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Nebraska, Nevada, North Dakota, Ohio, Oregon, South Dakota, Utah, Washington and Wisconsin.

Life Insurance Products: SimilyProtected (Simplified issue-no exam term life insurance, coverage ranges $50k to $150k.) Term Life Insurance (Traditional level term life insurance available in 10, 20 and 30 year terms.) MyLife (Flexible life insurance broken into two types called Freedom-a paid up type of policy and Legacy a cash value type of policy.) Whole Life Insurance (Coverage for life but more expensive than term life insurance.)

Price Comparison

Sample rates for a $250,000 policy on a 20-year term at each company’s standard health class, for a 40-year old male, non-smoker.

AgeAmFamBanner LifeAIGMassMutual
40$44$37.84$37.98$48.29

 

 

American Family term life insurance reviews- American Family is competitively priced but may not be the absolute lowest rate. We recommend that you receive a quote from American Family but also from other companies as well and choose the best one for you.

What is your experience with American Family Life Insurance Company?