Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure

RiverSource life insurance review 2021

A long list of riders and policy features stand out, but with mixed business ratings.'s rating: 3.5 / 5


  • Get a quote if… You’re looking for a universal life policy.
  • Pick something else if.. You prefer top-rated businesses.

20 to 75

Issue Age

$100,000 to $5 million


Not Listed

Medical Exam Required


Policies Term life, universal life
Coverage maximum $5 million
Term lengths 10 to 30 years for term life
Medical exam required Not Listed
Available states 49 states and the District of Columbia
Issue age 20-75 years old


  • Multiple options and riders.
  • Instant online quotes.
  • Strong financial ratings.
  • Experienced insurer.
  • Converts term to permanent insurance.


  • No whole life policies.
  • Mixed business ratings.
  • You can’t buy policies online.
Riders No info available

Review by

Sarah George is an insurance writer at Finder who’s penned over 400 articles, unraveling complicated topics about car, home and life insurance. Her insurance know-how has been featured in online publications, including Breeze, CBS, CNET and, as well as Finder’s YouTube channel. Sarah is working to become a Certified Educator in Personal Finance (CEPF).

Expert review

RiverSource has proved its standing with more than a century of experience. The company’s long list of universal policy options and riders are unique in the industry, with policies for nearly every stage of life — from young professionals to people in retirement.

But if you’re in the market for a simple whole life policy, look elsewhere. And the application process can take more time if you have to find a financial adviser.

The main downside, though, is Ameriprise’s customer service revealed through a recent government action. The case involved its retirement products and may not have included RiverSource directly. But if you won’t accept less than the best coverage and service, you might weigh your other life insurance options to make sure you’re getting just that.

RiverSource life insurance rates

We pulled 2021 sample quotes from RiverSources’s online quote tool for a $500,000, 20-year term life policy for a healthy man and woman. RiverSource’s rates are less than average across the board for this coverage amount and term length.


What affects my rate with RiverSource

While term life is generally cheaper than permanent life, the price of its policies differ based on factors like:

  • Age
  • Overall health
  • Job
  • Risky hobbies
  • Term length or type of permanent policy
  • Extra features or riders

How to get a quote from RiverSource life insurance

Contact a financial adviser to purchase the company’s life insurance products. If you don’t have one, you can find an Ameriprise financial adviser through the website’s adviser search.

You might expect the signup process to go like this:

  1. Call or schedule an appointment with your financial adviser.
  2. Discuss which type of life insurance coverage suits you best and whether RiverSource meets those needs.
  3. Fill out the required paperwork. List your personal and health information, such as your weight, job and smoking status.
  4. Choose the amount of coverage you want and any riders.
  5. Sign the paperwork and set up your payment process.

What types of life insurance coverage does RiverSource offer?

RiverSource focuses on term or universal life products, giving you both short- and long-term options.

  • Term life. These policies offer guaranteed level premiums, a tax-free death benefit and the ability to convert to permanent life insurance later on.
  • Universal life. These policies offer the flexibility to change your benefit levels and offer a tax-deferred cash asset on the invested portion of your premium. RiverSource also guarantees a minimum rate of return on your investments.
    • Indexed universal. RiverSource offers multiple investment options so you can find the right option for you, such as high potential earnings or global investments. It offers a survivorship policy that pays out after both people named on the policy die.
    • Foundations protector. This policy is designed for those in or nearing retirement, offering level premiums, a lifetime no-lapse guarantee and optional accelerated benefit riders.
    • Succession protector. This survivorship policy insures two people jointly. It’s designed for additional wealth transfer to your beneficiaries.
    • TrioSource. This universal life policy includes a death benefit, long-term care coverage and a guaranteed 80% return of your premium if you cancel.
  • Variable universal. This policy gives you maximum control with 80 investment options. But you’re not guaranteed a return, since the market can be unpredictable. It also offers the flexibility to change benefits and use cash growth. The policy includes a no-lapse guarantee up to age 75 or for 10 years, whichever comes last.

What riders can I add to my policy?

With various life insurance products, you have the option to add multiple riders to your policy:

  • Accelerated death benefit rider. Access benefits early if you’re diagnosed with a terminal or chronic illness.
  • Accidental death benefit rider. Add an additional death benefit if your death is an accident.
  • Child rider. Offers level term life insurance for each child covered.
  • Disability income benefit rider. Pays out a monthly benefit if you become disabled and can’t work.
  • Long-term-care rider. If you need long-term medical help for a chronic or terminal condition, this rider can help you pay for those expenses. The payments may take away from your total death benefit to beneficiaries.
  • Lapse protection rider. Some policies let you keep your policy even if it’s cash value drops to zero. However, the policy can still lapse if you don’t pay your premiums.
  • Spouse rider. Some policies allow joint coverage for you, your spouse or another person named on the policy.
  • Waiver-of-premium rider. These waivers help you keep your policy even if you lose your job or can’t work because of total disability.

RiverSource life insurance reviews and complaints

RiverSource doesn’t have many customer reviews or ratings for its company specifically. However, its parent company Ameriprise has received a A+ rating from the Better Business Bureau, as of October 2020.

The rating reflects a government action resolved in February 2018. The case found Ameriprise guilty of selling higher-cost mutual fund shares for retirement without telling customers about lower-cost options. Otherwise, Ameriprise has closed 2 customer complaints.

AM Best financial rating A+
BBB accredited No
BBB rating A+
1/5 out of 1 customer reviews
Customer reviews verified as of 27 October 2021

Compare life insurance companies like RiverSource

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
18 - 60 years old
5, 10, 15, 20, 25 and 30 years
Compare 40+ insurers and apply online to get the lowest possible price — no medical exam required.
20 - 60 years old
10, 15, 20, 25 or 30 years
No, for coverage up to $3M
Apply for term life insurance online without the medical exam. Get an instant decision and adjust your coverage at no charge.
Policygenius - Life Insurance
18 - 85 years old
10, 15, 20, 25, 30 years
Depends on provider and policy
Compare 12+ top insurers side-by-side to get the best possible deal, and shop return of premium policies online.
Everyday Life
20 - 75 years old
10, 15, 20, 25, 30, 35 and 40 years.
Ladder multiple life insurance policies to save on the coverage you need for all your debts.
18 - 60 years old
10, 15, 20, 25, 30 years
Get a quote in less than 10 minutes with on-the-spot approval and no medical exam.
21 - 60 years old
10, 15, 20, 25 or 30 years
Depends on policy
No-exam term policies up to $1 million online, with the option to upgrade to permanent life insurance later.

Compare up to 4 providers

More about RiverSource

RiverSource started when John Tappan founded the financial company Investors Syndicate back in 1894. The life insurance side of the company began in 1957 under the name Investors Syndicate Life Insurance and Annuity Company.

Later, American Express bought the company and renamed its financial services Ameriprise Financial. Now, Ameriprise is an independent, publicly traded company with nearly 3 million clients.

Frequently asked questions about RiverSource life insurance

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.

Learn more about our methodology here.

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site