American Income Life Insurance Review

Despite its tiny size, American Income Life Insurance sells a lot of life insurance to union members. However, the company only offers a small selection of products and handles insurance claims in the old-fashioned way.

Pros and Cons of American Income

American Income Life Insurance Review - American Income Logo

Pros

  • Public perception
  • Financial sturdiness

Cons

  • Claims that must be sent through the mail
  • There are just a few permanent items available.
  • Transparency is lacking.
  • Support time is limited.
  • A frantic attitude to selling

How to receive a life insurance quotation from American Income?

Call American Income at 800-433-3405 from 8 a.m. to 5 p.m. CT on weekdays to apply for coverage. A local agent will next explain your coverage options and work with you to create a policy that meets your specific needs.

Are there several kinds of life insurance policies offered by American Income?

American Income distributes life insurance to labor union members, credit union members, and others through a network of agents.

It only sells a few things:

  • Term life insurance. These insurance covers you for a specific number of years, such as 10, 15, 20, 25, or 30. We were unable to locate the term and coverage amounts offered by American Income.
  • Whole life insurance. A perpetual insurance is one that covers you for the rest of your life as long as you keep paying the payments. In order to provide you with a cash value for your coverage, a portion of your premium is invested. We don’t know how much coverage you can get with whole life or term life insurance.
  • Final expense plan. With American Income’s Freedom of Choice insurance, you may protect your beneficiaries from the financial burden of your funeral and burial expenditures, along with any additional costs – such as debts. The insurer makes little effort to publicize the policy’s exclusions.

What additional riders are available for inclusion in my policy?

As far as we know, American Income only provides one free rider, while it may provide more ones for a fee:

  • Accelerated death benefit rider. Those diagnosed with a terminal disease with a prognosis of 12 months or less will get 50% of their policy’s face value if they die within that time frame (24 months in Illinois, Massachusetts, and Washington). You’ll be able to put the money to good use for the rest of your life this way. The remainder of your life insurance policy’s benefits will be distributed to your beneficiaries upon your death.

Complaints and reviews about American Income Life Insurance Company

Better Business Bureau accreditation dates back to 1952, and the organization has an A+ customer interaction rating as of October 2020. Customers, on the other hand, are a very other scenario. Over the last three years, the Better Business Bureau has received 265 complaints against the insurance, giving it a star rating of 1.98 out of 5. Poor customer service and pushy advertising and sales methods were the most common complaints.

Compare life insurance companies

If you’d like to compare other service providers, have a look at the following article American Fidelity Life Insurance Review.

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Levi Jorgensen
Levi Jorgensen is a life-long explorer. When he's not writing about life insurance, he works as an appraiser of antiques. He's based in Columbus, Ohio with his wife and 2 children.
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