North American Life Insurance’s quotation method primarily uses age, gender, and coverage quantity to determine prices. You may see the underwriting classes and the requirements for each to have a better understanding of what you’ll have to spend for underwriting. North American Life Insurance Review, will help you assist in making a decision.
- Pros and Cons
- What affects my rate with North American
- How to get a quote from North American life insurance
- What types of life insurance coverage does North American offer?
- What riders can I add to my policy?
- North American life insurance reviews and complaints
Pros and Cons
- Owned by a single family
- Steady in terms of finances
- This does not involve submitting an internet form.
- There aren’t many online consumer reviews.
What affects my rate with North American
There is a low-cost preferred non-smoker class in North America. To be eligible, you must satisfy the following requirements in terms of health:
- Three-year prohibition on the use of tobacco and nicotine-based goods.
- No one in the family has died or been diagnosed with coronary artery disease or cancer before the age of 60.
- Maintain normal blood pressure with no prior history of hypertension.
- Meet a high standard for cholesterol.
- Nobody in your family has a history of heart, diabetes, or cancer.
- For the previous ten years, there has been no history of drug or alcohol abuse.
- No driving under the influence, recklessness, or other infractions are allowed.
- Keep your weight within a healthy range for your height.
How to get a quote from North American life insurance
An insurance agent in North America is required to apply for coverage, but you may receive a free quotation for term life insurance online to see how much you would have to spend.
- To get a free term insurance quote, go to the Life Insurance section of the website and click on Get a Free Term Quote.
- Fill out the form below with the basic information you’d want to be covered under term insurance.
- To see your term life insurance alternatives, submit your information by clicking on the Submit button.
What types of life insurance coverage does North American offer?
Choose between the following types of life insurance:
- Long-term care. It provides a non-convertible term insurance without additional benefits, a stripped-down non-convertible term policy with a $100,000 minimum benefit, and a simplified issue policy that doesn’t need a medical exam. North American also offers a free accelerated death benefit rider.
- Existence in all places and times. If the cost of life insurance falls below what you’re paying or interest rates rise over your specified rate, you’ll get policy and interest incentives. After paying your premiums for six years, you may be eligible for a loan with a surrender value of zero percent.
- There is a 100% chance of eternal existence. Several guaranteed-low-cost policies are available from North American, including one with accelerated benefit riders and a face value as little as $25,000.
- Life has been cataloged and indexed. Decide if you’d rather take on greater risk in order to gain more in terms of financial value, or have a guaranteed premium so that you may leave something behind for your partner.
What riders can I add to my policy?
With North American, you may choose from a variety of riders to tailor your life insurance policy to your specific needs.
- Accelerated death benefit rider. If you have a chronic or terminal condition, you may be able to draw out up to 75% of your death benefit to meet expenses.
- Rider who is still a child. In the event one of your children passes away while your policy is valid, you’ll get a small death benefit to help pay for funeral expenses.
- Rider that ensures you’ll be insured no matter what happens. Does not need a medical exam or any other proof of insurability before you may get extra insurance.
- Rider for policy with split option. Allows you to have two separate Survivorship policies. However, you will be required to provide proof of insurability once more, which will include a medical check. If you’re going through a divorce or shutting a business, you don’t have to show proof of insurability to get a split.
- The premium rider is coming back. If you outlive your term life insurance coverage, you will be reimbursed for the premiums you paid.
- Rider waiving the right to a higher price. If you are fully handicapped and unable to work for more than six months, your insurance premiums are waived.
North American life insurance reviews and complaints
For the Better Business Bureau (BBB), North American is certified and has an A+ rating. In the last three years, the firm has received 13 complaints, seven of which have been resolved in the last year. This is a low amount for a company of this size.
Outside of the BBB, there aren’t many customer complaints or reviews, but most of the remarks point to a positive customer service experience with a few claims taking longer than anticipated. AM A+ is the highest possible financial rating.
Visit our review of New York Life Insurance Review for one more life insurance review.