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finder.com's rating: 4 / 5
★★★★★
18 to 59
Issue Age
$100,000 to $5,000,000
Coverage
No
Medical Exam Required
Policies | Term, Universal, Variable Universal |
---|---|
Coverage maximum | $5,000,000 |
Term lengths | 10, 15, 20 and 30 |
Medical exam required | No |
Available states | Ameriprise is available in all states except NY, where it is offered as RiverSource of New York |
Issue age | Not listed |
Riders |
No info available |
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Review by
Amy Stoltenberg is a staff writer at Finder. She manages Finder's newsletter, which is about all things personal finance, with a sparkling eye toward cryptocurrency and the exciting world of DeFi. When her laptop's closed, you can find her driving around Los Angeles, marveling at the palm trees. She studied writing at Savannah College of Art and Design and has been featured on the Zoe Report.
Ameriprise — and its RiverSource offshoot — is a stable and reliable provider that offers life insurance through financial advisors. It offers a more personalized buying experience, but its premiums tend to be on the higher side and you can’t apply for coverage online.
In general, life insurance companies consider your age, health and high risk hobbies when underwriting a policy and determining premiums. Being a nonsmoker with a healthy lifestyle can help keep rates lower.
Ameriprise provides quick online estimates for its term life insurance products, so you can get a personalized quote by filling out a brief form.
Here’s an example of what monthly premiums might cost for an individual with very good health, living in New York, who’s purchased a 20-year term policy with a 1,000,000 benefit:
Gender | Age | Cost |
---|---|---|
Male | 25 | $53.81 |
Female | 25 | $43.31 |
Male | 35 | $63.44 |
Female | 35 | $54.69 |
Male | 45 | $142.19 |
Female | 45 | $109.81 |
Gender | Age | Cost |
---|---|---|
Male | 25 | $140.44 |
Female | 25 | $53.81 |
Male | 35 | $203.44 |
Female | 35 | $63.44 |
Male | 45 | $496.56 |
Female | 45 | $142.19 |
If you’re looking at universal, variable or survivorship life insurance, you’ll need to get in touch with a financial advisor that sells Ameriprise products.
Data collected August 2019 from RiverSource.
RiverSource does not support online enrollment. To sign up, you’ll need to call or meet with an Ameriprise financial advisor.
Instead of selling you a single product, the financial advisor will likely want to look at your holistic financial picture – life insurance will just be one part of that plan.
To find an advisor, head to ameriprise.com and follow these steps:
An Ameriprise financial advisor will be in touch to talk about life insurance and other financial products.
Ameriprise sells life insurance through its subsidiary, RiverSource. When you get in touch with a financial advisor that represents Ameriprise, you’ll have access to its full suite of products:
Term plans have a set beginning and end, and the benefit is only paid if you die before the term is up.
Universal life plans offer coverage for life and the ability to earn interest from premium payments. This is sometimes referred to as cash value life insurance.
Note that there’s no guaranteed minimum cash value on universal life policies, no whole life guaranteed minimum cash value on riders and no guaranteed death benefit levels.
Variable life insurance is a type of permanent insurance that you get to keep as long as premiums are being paid. The cash value of this type of insurance can grow as you pay premiums because funds are simultaneously being invested.
RiverSource operates under a separate license in New York and offers separately branded versions of its national products to residents of the Empire State. Get in touch with an Ameriprise financial advisor to learn more.
RiverSource life insurance riders can extend coverage to various unplanned scenarios, allowing your life insurance plan to cover more. Options include:
Ameriprise has a B+ rating with the BBB, but has closed or responded to all of the consumer-issued complaints, as of October 2020. Most of these complaints concerned customer service issues and the claims settlement process.
On the consumer affairs website, Ameriprise has earned 1 out of 5 stars for overall customer satisfaction.
AM Best financial rating |
A+ |
BBB accredited | No |
BBB rating | B+ 1/5 out of 15 customer reviews |
Trustpilot score | 3.2/5 out of 1 customer reviews |
Customer reviews verified as of | 01 November 2021 |
If you’re looking for more options to compare, take a look at these other providers.
Headquartered in Minneapolis, Ameriprise is a diversified financial services company that offers a range of investment products, from annuities and college savings accounts to life insurance.
Established 125 years ago as Investors Syndicate, the company was fully acquired by American Express in 1984. In 2005, Ameriprise was spun off as a successor to American Express Financial Advisors.
The company offers asset management through its Columbia Management brand, broker services and financial planning through Ameriprise Financial, and annuities and insurance products via RiverSource.
If you’re looking for cheaper coverage or the ability to apply for a policy online, compare life insurance providers.
Ameriprise’s website uses SSL technology to ensure your connection to its website is private. SSL, which stands for secure sockets layer, encrypts the data you send so it can’t be hacked on it’s way from your computer to the RiverSource database. Its computer systems are protected by a firewall that blocks intruders and only authorized employees can see your personal information.
It promises not to sell your personal information to third parties for marketing purposes, though it may share your contact info with third party vendors to help carry out a service — such as mailing you a pamphlet about its products.
★★★★★ — 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.