American Amicable Revisited: Complete 2023 Guide

Last Updated June 13, 2024

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American Amicable Guide Final Expense Benefits

     At Final Expense Benefits, we periodically review our articles to ensure all data is accurate and up-to-date with the latest information on an insurance company.  American Amicable warranted a review after more information came to light. We are dedicated to bringing you the most concise and current information on all insurance carriers. 

     Let us dive into ALICO aka American Amicable Life Insurance Company. 

The Origin Of American Amicable Life Insurance Company

     Amicable Life Insurance Company, also known as ALICO has earned its place in Waco, Texas history. After it opened for business back in April 1910, the owners had constructed a twenty-two-story building complete with what was, at the time, an advanced elevator and steel framing. The ALICO building was the tallest building west of the Mississippi River until 1929. Thanks to its sturdy build, the ALICO building is one of the oldest constructs in downtown Waco and even survived the tornado of 1953. This lead to the building being used for search and rescue efforts since it was the only downtown building with electricity in Waco. It was in 1982 that the Texas State Historical Commission designated the ALICO Building a historical landmark. 
     You may be wondering, what about American Amicable’s business history? American Amicable that we know today was a result of a merger with Amicable Life and American Life Insurance companies. Today it is a subsidiary of iA Financial Group, one of the largest insurance wealth management groups in North America. Their profile shows consistent, well-diversified investments that are a good mix of risk and reward. This strong financial security bodes well for claimants trying to get payouts with their life insurance. 

Your Coverage Options With American Amicable

American Amicable Term Life Insurance

     American Amicable prides itself on making term life insurance simple to protect you and your loved ones. American Amicable Term Life Insurance is available to folks up to age 95. American Amicable Term Insurance offers renewability where after the guaranteed premium period you are eligible to keep your policy until you reach the term age limit. Like most term life insurance, American Amicable Term Insurance does increase each year after the premium period. Additionally, American Amicable offers conversion with their term life insurance plans. While the policy is in force, you can convert it into a whole life insurance policy offered for an amount less than or equal to your current policy amount. 

     Term life insurance through American Amicable provides a death benefit that can be used to pay off final expenses like a funeral but it can be used to pay off other debts as well. It can provide for a child’s education, cover mortgage payments, or provide additional income to the family. For a term life insurance plan, American Amicable offers a number of insurance riders that can be beneficial. We will review them below since there are a large number of additional riders either for purchase or for no extra cost.

American Amicable Whole Life Insurance

     On the other side of the same coin, Whole Life insurance is generally what Term Life Insurance leads into, providing an entire lifetime of coverage at a fixed rate decided at the time of purchase as long as premiums continue to be paid. American Amicable provides an immediate death benefit in all policy years with affordable premiums and a guaranteed cash value that accumulates over time. There are no medical exams required and your eligibility is based on medical questions that are asked. 

American Amicable Universal Life Insurance

     Similar to a whole life insurance policy, a Universal Life Insurance Policy offers long-term protection and coverage, although without the luxury of fixed premiums. As a result, your premium can change depending on current economic conditions. With this in mind, your policy could substantially increase in price as you get older. The upside to this policy type, though, is the fact that the payment schedule associated with such a policy is very flexible and allows for payments to be made at the discretion of policyholders.

American Amicable Senior Choice Final Expense Insurance

     American Amicable offers final expense insurance for seniors with affordable premiums that never increase regardless of your health or age once you qualify and cannot be canceled so long as premiums are paid. Each of their policies accumulates a cash value over time that can be used for emergencies or unexpected expenses. Upon your passing, your loved ones will receive a tax-exempt payment that they can use towards your final payments or whatever they may need.  Currently, there are three degrees of their final expense insurance that are available depending on your health. 

Senior Choice Immediate 

If you are in good health as indicated by American Amicable’s health questionnaire, then you may be entitled to Senior Choice Immediate. This policy is the most affordable of their policies with no waiting period. Should you or your loved one pas while under this policy, then the beneficiary is entitled to the full death benefit regardless of when the death occurred during the policy.

Senior Choice Graded

If you are older or not in the best health then you may qualify for American Amicable’s graded benefit policy. This policy, while still affordable (especially if you are a smoker), has a waiting period before you are entitled to receive the full death benefit amount. If death occurs within the first year of the policy then you are entitled to 30% of the selected face amount. This increases to 70% if you pass within the second year. You then get your full death benefit during the third year of your policy. 

Senior Choice Return of Premium

American Amicable’s return of premium policy is a type of final expense policy that is similar to the graded benefit where there is a waiting period. The difference between them is that if death occurs within the first two years of the policy you receive a refund of the amount you paid towards the policy plus an additional 10% interest. 

American Amicable Available Riders

  • Terminal Illness Rider
  • Accelerated Benefit Rider/ Confined Care
  • Chronic Illness Accelerated Benefit Rider
  • Accidental Death Benefit Rider 
  • Nursing Home Waiver of Premium Rider
  • Reduced Paid Up Option
  • Total Disability Benefit Rider
  • Accident Only Total Disability Rider
  • Waiver of Premium Disability Agreement 
  • Waiver of Premium Unemployment Agreement
  • Grandchild Rider 
  • Children’s Insurance Agreement Rider

How Much Does American Amicable Final Expense Insurance Cost?

     American Amicable Insurance costs can vary depending on where you live, how old you are, and what type of health you are in. The Senior Choice Immediate Plan for both smokers and non-smokers has an excellent rate. The Graded Plan as well as the Return of Premium (ROP) Plan, which is better for those with health issues, has a higher monthly premium. These plans require no medical exam and only a health questionnaire to fill out to determine eligibility.

American Amicable Insurance Rate Charts $10,000 Of Coverage

Age (Non-Smoker) Senior Choice Immediate Senior Choice Graded Senior Choice ROP
50 Years Old
60 Years Old
70 Years Old
80 Years Old
Age (Smoker) Senior Choice Immediate Senior Choice Graded Senior Choice ROP
50 Years Old
60 Years Old
70 Years Old
80 Years Old

These figures were obtained from the NFDA and are estimates only. For a detailed quote, please contact an agent. 

American Amicable Life Insurance Pros & Cons

  • Plenty of Riders
    Accidental death & dismemberment, grandchild, children’s insurance agreement, nursing home, Just to name a few. The plentiful amount of riders on top of the standard coverage options provided means that you will be able to receive customized coverage specifically made for you.
  • Excellent Option for Smokers
    Next to Americo the rates provided to smokers are some of the most lucrative in the business. As you may know, insurance companies will usually boost your rate tremendously if you smoke or consume tobacco products, which isn’t the case here.
  • Flexible Underwriting American Amicable accepts folks that may otherwise be denied life insurance. Such as people with high blood pressure, diabetes, and other pre existing conditions. It also accepts medications that most other insurance companies would flag for denial. 
  • Fast Application Process
    The application and approval with American Amicable is incredibly fast. You will know if you are approved for coverage the same day you apply. 
  • No online quote functionality.
    Unfortunately, you cannot get a quote online or apply for coverage online through their website.  

  • Higher than Average NAIC Rating
    The NAIC’s rating was 2.51 while the standard industry average is roughly 1. 

Ratings For Credit And Customer Service Satisfaction

AM Best Rating

      A.M Best utilizes a rating, similar to the letter ratings placed on restaurants, meant to help you discern their overall quality. This letter ranking varies from A+ to F, similar to a scholastic grading system, and this organization is overseen by the chief insurance regulators regarding any US-affiliated territory. The rating itself is determined by a variety of different factors, such as performance, management, financial flexibility, shareholder safety, etc. The rating given to American Amicable was an A, as of 2021, indicating a great indication of financial strength. 

JD Power

JD Power selects a limited number of insurance companies to participate in their studies. American Amicable has not yet been selected by JD Power for review.


     The NAIC, or The National Association of Insurance Commissioners, is a regulation standard support organization based in America meant to add credibility to insurance companies. The rating used within the NAIC, involves a numerical value usually ranging from 1 – 10.One implies average customer complaints, where anything above this is above average, and so on. The complaint index associated with American Amicable in 2021 was 2.45indicating a higher-than-average number of complaints.

America Amicable Insurance Reviews

As an agent, they have been great. Clients that I have had trouble getting immediate coverage for with other companies got approved with American Amicable. They have competitive rates and their application process is simple. They are very strong and its been great doing business with them as an independent broker.
Portrait of bearded man with curly hair
Lloyd P. ✓
Portland, OR ⭐⭐⭐⭐
I started doing business with American Amicable in mid-2018. I looked for 6 months for something that would take care of my family and the salesman and customer service have only done what my agent promised. I had a payment issue and like that they had a solution. Last week a friend of mine was buried with the coverage I have and they were able to get everything she had wished. Normally people share their bad situations because that is what we see on the news but forget to big credit where it is due. Here to stay! Thanks AA.
Head And Shoulders Portrait Of Senior Man On Walk Through Autumn Countryside Against Golden Leaves
John S. ✓
Baltimore, MD ⭐⭐⭐⭐⭐
Excellent company, easy to work with. Outstanding rates both for insurance coverage and interest paid on rider funds and no fees to withdraw money at any time. I'm a recent military retiree and have had my main retirement account here since 2000, also been growing my kids' college accounts here since they were born.
Senior woman on the Okavango Delta, Botswana at sunset, Botswana.
Salma F. ✓
Jericho, VT ⭐⭐⭐⭐⭐

Our Review And Final Thoughts

     After a secondary review of American Amicable Life insurance,  its policies, and numerous rider options, we do recommend American Amicable Insurance, especially if you are a smoker. You will find decent rates with them and they have riders to fit your every need and circumstance. 

     If you’ve read this and find yourself unsure of the perfect provider for your specific needs, we recommend utilizing our guides, the free quote tool on the right, and/or contacting an agent to further discuss your options. We at Final Expense Benefits partner with over 20 carriers: 


      Reduce the stress involved with life insurance and let us do all of the heavy lifting for you. You can reach us at 1 (866) 311-4338, and we’re open from 9-5, Monday through Friday.

Frequently Asked Questions

Is American Amicable Legit?

Overall the answer is yes.

What is Senior Choice with American Amicable?

A whole life insurance policy available to seniors ages 50-75 in decent health overall. Requiring that you say no to all 8 underwriting questions. 

Does American Amicable Have Living Benefits?

Yes they do, it’s available as a rider.

What is Term Made Simple American Amicable?

One of American Amicable’s term life insurance policies. This policy extends to age 95 and may be converted to permanent coverage at any time.

How long has American Amicable been around?

Technically since the early 1900’s, if you consider their parent companies. The American Amicable we know of today is a result of the merge that occurred in 1965.

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