American National Life Insurance Company Review



The American National Life Insurance Company is an organization that provides adequate insurance service. Here is a review of current happenings in the organization:

How Has Covid-19 Affected American National Life Insurance Company?

American National Life Company is one of the insurance companies that have put everything in place to protect employees from Covid-19.

They are intentional about following all the CDC guidelines to provide a safe and healthy environment for employees.

This has made it possible for them to continue providing exceptional services to clients.

Moving forward, they have created a more automated model that helps employees to monitor and respond to clients, preventing any form of work interruption.

New Products Or Changes

A massive development was the announcement of the completion of holding company reorganization. This was announced in July 2020.

American National Life Insurance Company In The News

There has been some recent speculation reported by media bodies about the execution of a transaction.

According to the American National Press Release, media reports have been made concerning the options explored by American National Life Insurance Company which include a company sale.

The highly esteemed organization does not however pay attention to rumors.

The World Wide Web is filled with insurance companies offering inexpensive life insurance policies – like $40 per month for a $1 million policy (okay, that may be a slight exaggeration, but I’m sure you’ve seen the ads). The problem is that such low-cost coverage isn’t available for everyone.

Typically, it’s relatively short duration term insurance designed mostly for those who are young and in excellent health.

But the problem is that not everyone is young and in excellent health. And term insurance alone won’t fill everyone’s life insurance needs. That’s where companies like American National Insurance Company enter the picture.

Yes, they provide term life insurance policies too. But they also offer whole life policies and investment type policies, as well as virtually every other type of insurance coverage you’ll need.

That’s why you need to take a close look at this company.

Table of Contents:

Who is American National Insurance Company?

American National Insurance Company, commonly known simply as ANICO, is based in Galveston, Texas, and traces its roots all the way back to 1905. Today, ANICO is a major force in the insurance industry, providing products to more than 5 million consumers in all 50 states.

Like most large insurance companies, American National Insurance operates through a variety of subsidiaries, including:

  • Standard Life and Accident Insurance Company
  • Garden State Life Insurance Company
  • American National Life Insurance Company of Texas
  • American National Life Insurance Company of New York
  • Farm Family Casualty Company and United Farm Family Insurance Company
  • American National Property and Casualty

The company provides life insurance and other insurance products. Through its subsidiary companies, American National Insurance provides supplemental health insurance, Medicare supplements, accident and health insurance, annuities, property and casualty policies, as well as business and commercial insurance.

The company has a rating of ”A” (excellent) from A.M. Best, the most widely recognized insurance industry rating service.

American National

  • All Types of Policies
  • Customizable Plans
  • Competitive Premiums

Life Insurance Policies Offered by American National Life Insurance Company

As a full-service life insurance provider, American National Life Insurance Company offers five broad life insurance products.

Whole Life

Whole life insurance is a form of permanent coverage. Both the premium and the death benefit will remain fixed as long as the policy is in force. Unlike term life insurance policies, whole life policies accumulate a cash value that builds over time. The company has a long history of paying dividends on your cash value, though they do warn they’re not guaranteed.

If you are in excellent health and meet other conditions, you can qualify for a whole life policy with no required medical exam with the death benefit of up to $150,000.

For those who can’t qualify for a traditional whole life insurance policy, ANICO offers a guaranteed issue policy. It provides permanent coverage up to $25,000 for customers between the ages of 50 and 80.

As the name of the policy implies, you cannot be turned down for coverage. However, this type of policy has higher premiums on a per thousand dollars of coverage basis than regular whole life.

Term Life

Term life insurance is increasingly the policy of choice for many consumers, due to the lower cost. It’s not just cheaper than whole life, but much cheaper. For example, you may be able to purchase $1 million in term life insurance for the same premium you’ll pay for a whole life policy for $150,000.

As the name implies, term life policies are temporary coverage. ANICO’s policy terms are for five, 10, 15, 20 and 30 years. Since term life insurance policies are pure life insurance, they don’t include a cash value accumulation (which is the major reason why they’re less expensive than whole life policies).

Universal Life

Much like whole life, universal life is also permanent life insurance. But unlike whole life, it gives you the ability to adjust your premiums and your death benefit as your circumstances change. For example, you can adjust your premiums higher or lower, just as you can with your death benefit. The only requirement is that you keep enough available cash value in the policy.

Universal life also comes with a loan provision. You can borrow against the cash value in the policy, which will be repaid through your regular premium payments.

Indexed Universal Life

These policies are a variation on universal life, but they come with investment options that can allow greater buildup of your cash value. As your cash value builds, the funds are allocated into index accounts.

For example, you can allocate your cash value between index accounts tied to the Dow Jones Industrial Average, the NASDAQ 100 and the S&P 500 indexes. But there’s also the option to put some or all your cash value into a fixed income account.

Indexed universal life policies come with a guaranteed floor to protect your account value from market declines. But at the opposite end of the investment cycle, they also impose a cap on how much you can earn in your account in any one year.

The basic idea is to protect your account value from declines, offset by limits on how much you can earn in stronger performing years. The caps enable the company to cover losses in down years.

Indexed universal life is a way to combine investing and life insurance, but it does it more effectively than traditional whole life insurance policies do.

Guaranteed Universal Life

Guarantee universal life is yet another variation of a basic universal life policy. It enables you to further customize your life insurance to fit your personal needs.

For example, the policy provides a guaranteed death benefit that allows you to select the term. You can choose the guaranteed death benefit to last only until you reach a certain age, or you can choose for it to run for your entire life.

By adding a guaranteed cash outrider, you can cash out your policy value at a later date, as the need arises. For additional flexibility, the policy also comes with a full or partial accelerated death benefit. That will enable you to access some or all the cash value of your policy in the event you’re diagnosed to be either critically or terminally ill.

That will give you access to financial resources to help you through a very difficult time. With a partial accelerated death benefit, you can take some of the proceeds while you are still living, and leave the remainder for your beneficiaries upon your death.

American National

  • All Types of Policies
  • Customizable Plans
  • Competitive Premiums

Is American National A Good Life Insurance Company?

If you’re simply looking for the cheapest life insurance, and you’re perfectly happy with a term policy, you’ll probably want to look for coverage elsewhere. The companies that specialize in low-cost term insurance typically do have the lowest premium rates.

But if you’re looking for a full-service life insurance company – and many people need to – American National Insurance Company should be on your shortlist. They have term life insurance, just like the low-cost providers do. But they also give you the option to select permanent coverage, like whole life.

Whole life may be more expensive than term life, but it has the advantage of providing coverage for your entire life, regardless of the condition of your health.

ANICO is also strong with investment type policies, like the several universal life varieties they offer. That will give you an opportunity to mix both insurance and investing under the same plan. As well, the universal policies come with built-in flexibility, including the ability to adjust both your premiums and death benefit.

And they also come with the extremely valuable accelerated death benefit, that will provide you with living benefits in the event you become terminally or critically ill.

If you don’t fit the profile of a young applicant in perfect health, or if you’re looking for your life insurance policy to do more than just provide a death benefit at the lowest possible cost, American National is a life insurance company to consider closely.

If you’d like more information, or you’d like to apply for a life insurance policy, visit the American National Life Insurance website.

American National

  • All Types of Policies
  • Customizable Plans
  • Competitive Premiums

*While we make every effort to keep our site updated, please be aware that “timely” information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.