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About Pioneer American
Pioneer American is part of the American-Amicable Life Insurance Company (ALICO), which was founded in Waco, Texas in 1909. The ALICO building has become a landmark in the city, having survived major tornadoes over the years. Other companies under the banner, including Occidental Life of North Carolina, use the same website and content to sell their products, creating some confusion as to the history and products offered by each. Pioneer American itself was incorporated in 1945.
Pioneer sells a variety of life insurance products through independent agents. The website’s connection to ALICO and its other companies, which serve a variety of geographical areas, makes it unclear what exactly the coverage area is for Pioneer itself. It appears to provide products in Texas, and the ALICO building in Waco is listed as headquarters.
Pioneer American Products
Pioneer American writes four main types of life insurance policy. The website offers limited information on each.
This policy is described as Ordinary Whole Life insurance and has an issue age of 0-85. The plan does not require a medical exam for coverage, although the website does state that there are multiple versions available based on health history.
The plan includes a cash accumulation account and offers steady premiums and no change to benefits over time. Accelerated benefits are available, including terminal illness.
Pioneer has two offerings for simplified term life insurance, neither of which requires a medical exam.
The Non-Medical Plan is offered with death benefits from $25,000 up to $250,000. This plan has a variety of terms and appears to be a standard term life product.
There is also an Association Term product, which is a 10-year renewable policy offered to specific groups:
- First Responders
- Government Employees
- Employees of state funded educational institutions
- Railroad employees
- Hospital employees
- Spouses of anyone eligible
There are two forms of universal life insurance available from Pioneer. The first is a simplified issue product, Non-Medical Universal Life, which does not require a medical exam. Both premium and benefits are flexible under this plan, and there is a 15-year no lapse guarantee offered as long as the minimum premiums are being paid. Coverage ranges from $25,000 to $250,000, as with the term products.
There is also a Fully Underwritten Universal Life version of this product, which requires medical exams. This plan has no maximum coverage and has a full no-lapse guarantee as long as minimum premiums are paid.
The company’s website offers a very little description of this plan. It is available as whole or term, and there is an option for cash accumulation.
Pioneer American Rates
There is not an online quoting option for Pioneer American’s life insurance products. Visitors to the site are directed to contact an agent or to call a toll-free number for more information.
Much of what this company offers is simplified insurance, which usually means a lower death benefit amount in return for not requiring a medical exam. Although these are often marketed as affordable life insurance, the premiums can vary greatly depending on the company and the death benefit amount.
There is neither an online option for claims filing nor a direct claim filing contact number readily available to the public. The customer service section of the website does have claims forms available for download, and a list of general contact information for the company.
The company does have a customer portal that must be logged into for services. The page appears to have the option to file a claim through this portal. This may be difficult to use for many beneficiaries seeking to file a claim, as they may not have the login information belonging to the original policyholder – who is often the deceased. That makes this approach to online filing less useful for a life insurance company than for other insurers.
Ratings and Customer Reviews
Pioneer American has an A+ rating with the Better Business Bureau (BBB), and there have been only four complaints filed in the past three years. Three of those were closed in the past twelve months.
We found very little in the way of customer feedback regarding this company. This may be in part due to the fact that they are part of ALICO, and some of the reviews may appear under that name.
The Bottom Line
Pioneer American offers a good range of life insurance products, including plenty of no-medical-exam options. The limited information on the company and the confusion created by ALICO’s various companies sharing website design and content creates some confusion regarding their reputation. This company is most likely to come to a customer’s attention through an agent referral.
For a list of companies that we recommend, visit our Best Insurance Companies page.