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Americo life insurance review 2021
Last updated:
Get up to half a million dollars in term, permanent or mortgage protection coverage.
finder.com's rating: 3 / 5
★★★★★
- Get a quote if… You’re looking for a return of premium or mortgage protection policy.
- Pick something else if..You live in NY, or want to manage your policy online.
18 to 50
Issue Age
$25,000 to $500,000
Coverage
Yes
Medical Exam Required
Details
| Policies | Term, Whole, Indexed universal, Final expense, Mortgage protection |
|---|---|
| Coverage maximum | $500,000 |
| Term lengths | 15, 20, 25 and 30 years |
| Medical exam required | Yes |
| Available states | All states except NY |
| Issue age | 18 - 50 |
Pros
- Offers return of premium policies.
- Automatic accidental death benefits.
- Flexible mortgage protection policy.
- Financial strength.
Cons
- Not available nationwide.
- Lack of information online.
- Short customer support window.
- Customer service concerns.
| Riders |
Accelerated death benefit rider Accidental death benefit rider Child rider Return-of-premium rider Waiver-of-premium rider |
|---|
Expert review
Review by
Katia Iervasi
katia.iervasi@finder.comKatia Iervasi is a staff writer who hails from Australia and now calls New York home. Her writing and analysis has been featured on sites like Forbes, Best Company and Financial Advisor around the world. Armed with a BA in Communication and a journalistic eye for detail, she navigates insurance and finance topics for Finder, so you can splash your cash smartly (and be a pro when the subject pops up at dinner parties).
Expert review
Americo has a diverse life insurance lineup, and caters to those who need temporary coverage and people who want to protect their home in case they can’t make their repayments. But the customer service reviews are less-than-stellar, and you can only get up to $500,000 in coverage.
If you’re in the market for a high-value policy, compare life insurance companies
What types of life insurance does Americo offer?
The insurer’s life insurance lineup includes term and permanent policies, as well as more unique offerings — like mortgage protection insurance.
- Term life insurance. Americo offers 15-, 20-, 25- and 30-year term life policies in face amounts ranging from $25,000 to $500,000. All policies are convertible, and you can purchase a return of premium policy to get your premiums reimbursed if you outlive your term.
- Whole life insurance. This policy builds cash value over time at a fixed rate set by the insurer.
- Indexed universal life insurance. With this policy, you can adjust your premiums and death benefits as needed, and invest your cash value in various subaccounts.
- Final expense insurance. Seniors between the ages of 50 and 80 can get $2,000 to $30,000 in coverage, with optional riders including accelerated death benefits.
- Mortgage protection insurance. This policy is designed to cover your mortgage repayments if you lose your job, become disabled or die prematurely. Depending on how much you owe on your mortgage, you can buy a policy worth $25,000 to $500,000.
What riders can I add to my life insurance policy?
You may be able to customize your coverage with these riders:
- Accelerated death benefit rider. Pays out a portion of your death benefit if you’re diagnosed with a terminal illness.
- Accidental death benefit rider. Pays an additional death benefit if you die in an accident.
- Child rider. Covers your children under your own policy, and can be converted to an individual policy before a certain age.
- Return-of-premium rider. Reimburses you for any premiums you paid if you outlive your term life policy.
- Waiver-of-premium rider. Pauses your premiums if you become critically ill, seriously injured or disabled and can’t work for a period of time.
How much does Americo life insurance cost?
Americo doesn’t disclose its rates online. But like all other life insurance companies, it reserves its best rates for young, healthy applicants with safe jobs and clean driving records.
Compare alternatives to Americo
Americo life insurance reviews and complaints
Americo isn’t accredited with the BBB, but it has been rated A+ by the organization, as of October 2020.
The BBB recorded 39 complaints in the past three years, which is relatively low — but timely responses are key to an insurer’s reputation for customer service. Most of the complaints centered on the claims process. Customers award the insurer 2 out of 5 stars.
How do I apply for Americo life insurance?
You’ll need to speak to an agent. To do that, call 888-220-7074 weekdays from 8 a.m. to 5 p.m. (CT), or fill out the form on Americo’s life insurance page.
Frequently asked questions
Life insurance ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry.