Secured with SHA-256 Encryption
Select Page

Americo Final Expense Insurance Review

FREE Insurance Comparison

Compare quotes from the top insurance companies and save!

Secured with SHA-256 Encryption

Eric Stauffer is a former insurance agent and banker turned consumer advocate. His priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best...

Full Bio →

Written by

UPDATED: Mar 18, 2020

Advertiser Disclosure

It’s all about you. We want to help you make the right coverage choices.

Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We partner with top insurance providers. This doesn't influence our content. Our opinions are our own.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.

Americo
Premiums
Claims
Feedback
Financial Strength
N/A


Americo has more than 100 years of experience in the life insurance industry and serves most of the country. Their products include life insurance, retirement savings plans, and Medicare Supplement coverage.

About Americo

Americo was founded in 1946 as The College Life Insurance Company of America. The company has grown through mergers and acquisitions with other companies, some of which are much older and trace back to the early 1900s. These include The Ohio State Life Insurance Company (1906) and Great Southern Life Insurance Company (1909).

Americo is the underwriter and issuer of all of the life insurance policies for its family of companies, which then handle the management of in-force policies. They are licensed to operate in all states with the exception of New York, including the District of Columbia. The company’s headquarters is located in Kansas City, MO.

Group companies are responsible for several firsts in the insurance industry, including being the first to offer children’s policies and the first to provide living benefits.

Among the life insurance plans, they offer is final expense coverage, which like all of their policies is sold through local independent agents. The company’s website appears to be mainly aimed at agents, with little detail regarding the policies readily available and more information on agent incentive programs. The setup of the website indicates that they do not see a lot of sales through potential customer web searches.

Our full review of Americo and all of its products can be found here.

Enter your zip code below to view companies that have cheap auto insurance rates.

 Secured with SHA-256 Encryption

Americo Final Expense

The final expense plans offered by Americo are known as the Eagle Premier Series, and there are two options to choose from. Both are standard whole life insurance policies providing permanent coverage.

The main difference between the two is how death benefits are paid out. Eagle Premier offers the full death benefit from day one, while Eagle Guaranteed has a graded death benefit, with three years required before full benefits will be paid. The full benefit is payable for accidental death on both policies.

Both plans offer death benefit amounts ranging from $2,000 up to $30,000 and have no requirement for a medical exam in order to be issued. The rates do not change over time regardless of age or health condition. Americo also offers a Quit Smoking Benefit on these plans, through which smokers can qualify for non-smoker rates by quitting.

The site does not state what the issue age range is for this product. As mentioned previously, the information on the site is mainly aimed at agents and not at potential customers.

Rates

In keeping with the agent-based approach, this company does not offer online quoting. Rate quotes can be obtained directly from an agent. The site does offer a quick contact form through which potential customers can request more information.

Interestingly – and unusually – there is no agent search found on the website. Only the request info form is available, which means the company will likely forward your contact information to a local agent of their choosing. This takes away the customer’s option to select their own agent.

Claims

The website provides downloadable claim forms which can be sent in either by email or by regular mail. There is also a fax number available.

A customer service phone number and email address are also listed on the claim page, both of which can be used for inquiries regarding claims. The phone number is for the administrative office but the site does say what the hours of operation are for this line. It is likely that claims questions can only be addressed during business hours, which is common for life insurance companies.

The contact page lists phone numbers for all of the underlying companies in the group. It appears, however, that claims are handled centrally via Americo’s main office.

Enter your zip code below to view companies that have cheap auto insurance rates.

 Secured with SHA-256 Encryption

Ratings and Consumer Reviews

Americo has a B+ rating with the Better Business Bureau (BBB), which is down since the last time we looked at the file. The lowered grade is the result of two complaints against the company that were not resolved. The company has a total of 33 complaints on file in the past three years.

The reviews on the BBB page cite failure to play claims; one of these is written by an agent that sold Americo policies and states they repeatedly failed to pay client claims.

We were unable to find customer reviews anywhere else, and overall the number of complaints is low. That said, the failure to resolve two complaints has dropped this company’s rating and affects our impression of their reputation.

The Bottom Line

Americo is not the type of company that someone seeking to buy final expense insurance independently through online searches is likely to consider; they are very focused on agent sales instead. It would be beneficial to see them bring their rating back up. We would recommend purchasing insurance from this company only after consultation with a trusted agent of your choosing.

Summary
Review Date
Reviewed
Americo Final Expense
Author Rating
31star1star1stargraygray

About Eric Stauffer

Author: Eric StaufferI am a former insurance agent and banker turned consumer advocate. My priority is to help educate individuals and families about the different types of insurance they need, and assist them in finding the best place to get it.

1 Comment

  1. I need to cancel my life insurance policy because I can’t afford it.

    Please write me back and let me know if you cancel it.

    You quoted me 30.00 a month and like I said I can’t afford it and I got some that I can afford.

    Be looking to hear from you, Thanks, Barbara Nunn

    Reply

Leave a Rating

Your email address will not be published. Required fields are marked *