March, 25 2017

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American National Life Insurance Company Review 2016

American National Life Insurance Company Review 2016

Author
  • Price
  • Underwriting
  • Financial Strength

(ANICO) American National Life Insurance Company Review 2016

Pros: No medical exam coverage- ANICO’s Signature Term Express policy (not to be confused with their no exam Freedom Term policy) will typically have one of the if not the best rates in the country for no medical exam life insurance at the standard rate class (average health class) in 2016.  Rating- ANICO received an A (Excellent) rating from A.M. Best which is “excellent” for companies who are dominant in the no medical exam space.  Longevity- ANICO was founded over 100 years ago which means they are a company you can depend on.

Cons: There aren’t too many cons with ANICO.  One slight could the fact they don’t offer a preferred no exam rating class for those in exceptional health looking to secure life insurance sans an exam.  Also, their Anicodirect.com website seems to promote their Freedom Term (instant online coverage) instead of the Signature Express Term (simplified issue-no exam) which is less expensive.

Bottom Line: American National Insurance Company (ANICO) is an excellent insurance company especially for those seeking life insurance without a physical exam and are at the standard rating class.  Their Signature Term Express simplified issue policy offers coverage up to $250,000 and a variety of term lengths including a 30 year term.  This policy will often have the best rate in the country at the standard (average) health class in 2016.  They also have another heavily online marketed no exam policy called ANICO Freedom Term that is more expensive but coverage can be secured in about 15 minutes versus several days.  In addition to having some of the lowest no exam prices for the standard rate class (average), their fully-underwritten Signature Term product is very competitively priced as well.  All in all ANICO is an excellent insurance company.

 

About

Type: Public

Issued by: American National Life Insurance Company, Garden State Life Insurance Company and Standard Life and Accident Insurance Company

Founded: 1905

Website: www.anico.com

Phone: (800) 899-6806

Address: One Moody Plaza | Galveston, TX 77550

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

Comdex Ranking: 78 out of 100

BBB Rating: A+

Competitors: Sagicor Life Insurance Company, Assurity, Fidelity Life, Americo, Foresters, 5 Star Life Insurance Company, Oxford, Americo, United Home Life, Monumental,Funeral Advantage, Standard Life, State Farm, Farmers, Allstate, Nation Wide, American , Progressive Life Insurance, Allianz Life Insurance Company, Fidelity & Guaranty Life, American General Life, Banner Life, Protective Life, Primerica, Genworth Life, Pacific Life Insurance, North American Co, Lincoln National Life, ING-ReliaStar, Transamerica, Prudential, Midland, Cincinnati Life, Grange Life Insurance Company, Symetra Life Insurance Company, Mutual of Omaha, John Hancock, PennMutual, Principal, TIAA-CREF, Guardian, OneAmerica, Minnesota Life, RiverSource, Allianz Life Insurance Company, Thrivent Financial for Lutherans, AAA, Erie, Amica, Assurity, Colonial Penn, AARP, Globe Life, Ohio National Life Group, New York Life, Northwestern Mutual, EMC National Life, Motorists Life, Pan-American Life, National Life Group, American Family, Shelter, HoraceMann, Group Life Insurance, Supplemental Life Insurance, Aflac, Voluntary Life Insurance, Unum,  MassMutual.

 

Price Comparisons

Sample rates for a 250,000 no exam policy, 20 year term- very healthy (Preferred Rate) 2016 rates

AgeAssuritySagicorANICO 
30$28.28$22.73$29.16
40$58.29$38.45$44.71
50$131.59$85.68$987.06

Sample rates for a 250,000 no exam policy, 20 year term- average health (Standard rate class) 2016 rates

AgeAssuritySagicorANICO 
30$56.33$29.16$29.16
40$119.97$53.96$44.71
50$270.79$130.55$98.06