American Income Life Insurance Review
American Income Life Insurance offers term life, whole life, and final expense coverage through local agents. However, Business Insider found it to be a poor choice due to multiple investigations and a lack of publicly available information.
Key Features and Concerns
- Offers term life, whole life, and final expense insurance
- Head Start Program provides low-cost whole life insurance for children
- Strong AM Best rating
- No online quotes available
- High volume of customer complaints
- Legal issues, including investigations by the U.S. Equal Employment Opportunity Commission and the Department of Justice
Insurance Products
- Term Life Insurance: Provides death benefit for a fixed term with set premiums
- Whole Life Insurance: Builds cash value with set premiums that won’t change over time
- Final Expense Insurance: Covers final expenses, typically up to $25,000 or $50,000
- Head Start Children’s Life Insurance: Up to $25,000 in whole life coverage for children, with the option to increase to $150,000 later
Additional Coverage Options
- Terminal Illness Rider: Pays out 50% of death benefit upon terminal illness diagnosis
- Waiver of Premium: Allows pausing premium payments if disabled
Customer Experience
- No online claims filing
- Limited customer service hours
- Difficulty canceling policies and reaching customer service reported by customers
- NAIC complaint index score of 3.02, indicating more complaints than expected
Alternatives
- Ethos Life Insurance: Offers 100% online application process with coverage starting immediately
- Corebridge Direct Life Insurance: Provides guaranteed life insurance for seniors and high financial strength ratings
- Amica Life Insurance: Offers level term and whole life policies with discount opportunities
- Fidelity Life: Allows online quotes for term policies with more rider options
- Lemonade Life Insurance: Offers affordable term life insurance with online application and no medical exam
Conclusion
While American Income Life has a strong AM Best rating and offers various life insurance products, its lack of transparency, legal issues, and customer complaints make it a less desirable choice. Consumers should consider alternative insurance providers that offer more modern features and better customer experiences.
Business Insider’s review process evaluates insurance companies based on affordability, customer service, reliability, and company offerings. AM Best ratings and NAIC complaint indexes were used to assess financial stability and customer satisfaction.
