American Amicable Burial Insurance Review (Senior Choice)

Jake Irving

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When looking into life insurance to cover funeral costs, due diligence is essential in making an informed purchasing decision. Countless final expense insurance companies claim to have great policies, but just a handful offer top-tier coverage.

The American Amicable burial insurance review has found its place on the best final expense companies list.

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Is American Amicable A Good Company?

American Amicable Life Insurance Company is legitimate and has been in business for over 110 years. The company from Waco, Texas, has an AM Best (A) rating with positive customer reviews. In recent years American Amicable has been known as a go-to company for seniors purchasing life insurance. American-Amicable Group of Companies includes:
  • American-Amicable Life Insurance Company of Texas
  • IA American Life Insurance Company
  • Occidental Life Insurance Company of North Carolina
  • Pioneer American Insurance Company
  • Pioneer Security Life Insurance Company

Who Owns the American Amicable Life Insurance Company of Texas?

In 2010 the American Amicable Life Insurance Company of Texas was acquired by Industrial Alliance Insurance and Financial Services, Inc. Since 1892, IA Financial Group has been helping individuals with their financial and health needs. Headquartered in Quebec City, Quebec in Canada, this company has insured over 4 million individuals and oversees 5,000 employees at IA Financial Group.

American Amicable Burial Insurance Details (Senior Choice)

In recent years, American Amicable final expense insurance has become a go-to company for seniors. Flexible underwriting and an easy application process make this carrier an excellent choice for seniors. American Amicable funeral insurance offers three different plan types, and each policy offers a different health underwriting standard to qualify.

American Amicable Policy Comparisons

Immediate Benefit Graded Benefit Return of Premium
Plan Type
Whole Life
Whole Life
Whole Life
Coverage Amount
$2,500 - $35,000
$2,500 - $20,000
$2,500 - $20,000
Age Ranges
50 - 85
50 - 85
50 - 85
Price Increases
No
No
No
Waiting Period
No
yes
Yes
Medical Questions
Yes
Yes
Yes
Health Exam
No
No
No

Immediate Death Benefit

American Amicable Immediate Death benefit plan offers day one coverage for seniors while providing whole life benefits.  There is no waiting period with this whole life plan. This means the beneficiary will have complete financial protection if the policyholder were to pass away soon after the policy is issued.

The maximum death benefit available will vary depending on the applicant’s age.

  • Ages 50 – 75: $35,000 maximum death  benefit
  • Ages 76 – 85: $20,000 maximum death benefit

Graded Death Benefit

This Graded Death Benefit whole life plan has a two-year waiting period. If the policyholder were to pass away during the waiting period, the beneficiary would be awarded a percentage of the coverage amount.

Payout Structure Breakdown

  • Year 1: 30% of the coverage amount
  • Year 2: 70% of the coverage amount
  • All other years: Full death benefit

Return of Premium Death Benefit

This standard, modified whole life insurance policy differs from graded plans primarily in the payout structure during the waiting period. This is why modified plans are commonly referred to as “return of premium” policies.

The American Amicable Return of Premium plan has a waiting period. Depending on the age of the applicant, the waiting period varies.

Age 50 – 64: 3-Year Waiting Period

  • Year 1: all paid premiums returned plus 10%
  • Year 2: all paid premiums returned plus 10%
  • Year 3: all paid premiums returned plus 10%
  • All other years: Full death benefit

Age 65 – 85: 2-Year Waiting Period

  • Year 1: all paid premiums returned plus 10%
  • Year 2: all paid premiums returned plus 10%
  • All other years: Full death benefit

Does American Amicable Funeral Insurance  Have Living Benefits?

American Amicable final expense insurance offers a range of living benefit riders, including a Terminal Illness and Accelerated benefit option in the Senior Choice plan. Additional benefits that can be added for a small fee are the Accidental death, Grandchild, Children’s Insurance Agreement, and the Nursing Home Waiver of Premium riders.

Riders that come with the plan:

  • Terminal Illness Accelerated Benefit Rider
  • Accelerated Benefits Rider

Optional riders that can be added:

  • Accidental Death Rider
  • Grandchild Rider
  • Children’s Insurance Agreement
  • Nursing Home Waiver of Premium

American Amicable Rider Availability

Immediate Graded Return of Premium
Terminal Illness
Yes
Yes
Yes
Confined Care
Yes
No
No
Accidental Death
Yes
Yes
No
Grandchild
Yes
Yes
Yes
Children
Yes
Yes
No
Nursing Home
Yes
No
No

Great Option for Tobacco Users

American Amicable life insurance offers some of the lowest rates for tobacco users. Along with these low prices, the primary advantage of purchasing a policy through American Amicable is how the company classifies a smoker.

Here is how the tobacco question is asked on the application:

“During the past 12 months, have you used tobacco in any form (excluding occasional cigar or pipe use)?”

This means anyone who only partakes in “occasional” cigar or pipe use will qualify for nonsmoking rates, which can help lower your monthly premiums tremendously. Flexible underwriting, including lenient smoker rates and an easy application process, make this carrier an excellent choice when purchasing burial insurance for smokers.

American Amicable Quotes

American Amicable life insurance offers competitive premiums and three different plan options, making finding an affordable policy simple.

American Amicable Quotes (Female)

$10,000 of Coverage

Age Immediate Graded Return of Premium
50
$27
$30
$36
55
$34
$38
$46
60
$38
$46
$57
65
$47
$59
$75
70
$60
$79
$99
75
$82
$109
$134
80
$114
$163
$182
85
$166
$221
263

American Amicable Quotes (Male)

$10,000 of Coverage

Age Immediate Graded Return of Premium
50
$32
$38
$44
55
$40
$49
$55
60
$47
$59
$68
65
$60
$76
$90
70
$79
$105
$120
75
$108
$149
$164
80
$156
$226
$242
85
$221
$278
$338

American Amicable Final Expense Insurance Underwriting Guide

There are three sections to the health questions within American Amicable insurance underwriting. If you answer “no” to all eight questions, you will qualify for the Immediate Death Benefit plan.

1. Are you currently hospitalized, confined to a bed or nursing facility, using oxygen equipment to assist in breathing, or receiving Hospice Care?

2. Have you had or been medically advised to have an organ transplant, or have you been medically diagnosed as having a life expectancy of 12 months or less, Alzheimer’s, dementia, mental incapacity, or have you been diagnosed, treated (including dialysis) or taken medication for kidney or liver failure, or respiratory failure?

3. Have you been medically treated or diagnosed by a medical professional as having Acquired Immune Deficiency Syndrome (AIDS), AIDS-related complex (ARC), or any immune deficiency related disorder or tested positive for the Human Immunodeficiency Virus (HIV)?

4. Have you ever been treated for insulin shock, diabetic coma, had an amputation caused by disease, or taken insulin shots before age 50, or been medically diagnosed with diabetes combined with a medical history of any of the following: stroke, TIA, heart disease, or circulatory disease?

5. Have you ever been medically diagnosed, treated, or taken medication for congestive heart failure, cardiomyopathy, Lou Gehrig’s disease, or Huntington’s disease?

6. Have you had more than one occurrence of cancer (excluding basal or squamous cell skin cancer) in your lifetime?

7. Within the past 12 months, have you:

  • Been medically diagnosed, treated, or taken medication for angina, stroke or TIA, cirrhosis, chronic hepatitis, chronic pancreatitis, chronic obstructive pulmonary disease (COPD), emphysema, or required oxygen equipment to assist in breathing?
  • Had or been medically advised to have surgery for brain or heart disorders (including catheterization or a pacemaker insertion), or any procedure to improve circulation?
  • Had a heart attack, aneurysm, heart valve surgery, coronary artery bypass surgery, angioplasty, or stent implant?
  • Been medically diagnosed, treated, or taken medication for internal cancer, lymphoma, melanoma, leukemia, or systemic lupus (SLE)?
  • Had or been recommended to have treatment or counseling for alcohol or drug use, or abused alcohol or drugs, or any diagnostic testing or surgery recommended by a medical professional which has not been completed or for which the results have not been received?

8. Within the past 24 months, have you been medically diagnosed or treated, or taken medication for:

  • Stroke, angina (chest pain), heart attack, aneurysm, heart or circulatory surgery, or any procedure to improve circulation?
  • Internal cancer, leukemia, melanoma, emphysema, chronic obstructive pulmonary disease (COPD), ulcerative colitis, cirrhosis, liver disease?
  • Paralysis of two or more extremities or any neuro-muscular disease (including cerebral palsy, multiple sclerosis, grand mal seizures, or Parkinson’s disease)?

If all Questions 1 – 8 are answered “no,” the proposed insured should apply for the Immediate Death Benefit plan.

Final Thoughts About American Amicable Funeral Insurance

a. The American Amicable burial insurance review has shown that this carrier has good coverage. The Immediate Death benefit plan is a top option for those in good health. This plan offers day one coverage and competitive premium pricing.

b. The Graded Death Benefit and Return of Premium plans should be used as secondary options if the applicant cannot qualify for immediate coverage.

c. American Amicable insurance has very favorable rates for smokers, making this carrier a top option for tobacco users.