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Life Insurance

American Income Life Insurance Review

By David Krug 3 minute read

Although American Income is a tiny corporation, it provides substantial life insurance coverage to union members. On the other hand, the corporation offers a restricted product line and processes insurance claims in an archaic fashion. This American Income Life Insurance Review is an excellent resource for resolving any problems you may be experiencing.

Pros and Cons of American Income

Pros

American Income Life Insurance Review - American Income Life Insurance Logo
  • Public perceptions
  • Financial stability

Cons

  • In some cases, as detailed below, a formal claim must be submitted.
  • Products are seldom accessible indefinitely.
  • There is a shortage of transparency and openness.
  • The supply of assistance is strictly time-limited.
  • A frenetic marketing and sales campaign is underway.

How to receive a life insurance quotation from American Income?

To apply for coverage, call American Income at 800-433-3405 between the hours of 8 a.m. and 5 p.m. Central Time, Monday through Friday. Following that, a qualified independent insurance agent will guide you through your coverage options and work with you to build a policy to your specific needs.

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

Through a network of independent agents and brokers, American Income provides life insurance to labor union members, credit union members, and other individuals.

Currently, just a few items are available for purchase on this page:

  • Term life insurance. This insurance coverage covers you for a period of ten, fifteen, twenty, twenty-five, or thirty years. We were unable to ascertain the duration of American Income programs or the breadth of their coverage.
  • Whole life insurance. As long as you make your monthly payments on your perpetual insurance policy on time, you will be insured for the remainder of your years. A cash value component is required to supply you with an insurance policy’s cash value. We have no idea how much coverage whole life or term insurance would provide in this case. We are at a loss on what to do.
  • Budget for the final expenses. By acquiring American Income’s Freedom of Choice insurance, you may protect your beneficiaries from the financial burden of funeral and burial fees, as well as any additional charges – such as debts – that may occur following your death. The insurer makes just a passing reference to the policy’s exclusions.

What additional riders are available for inclusion in my policy?

Although American Income now gives only one complimentary rider, if enough people pay, the firm may expand this service in the future.

  • Riders gain from accelerated death. If a terminally ill individual has a prognosis of 12 months or less, they will get half of their insurance policy’s face value if they die during that time frame, regardless of how long they have been ill (24 months in Illinois, Massachusetts, and Washington). Due to the fact that you acquired this money, you will be able to put it to good use in your remaining years. If you die before collecting the entire face value of your life insurance policy, the remaining earnings will be distributed to your beneficiaries.

Complaints and reviews about American Income Life Insurance Company

The Better Business Bureau, which has been in existence since 1952, reports that it has an A+ customer contact rating and accreditation dating all the way back to 1952. On the other hand, customers represent an entirely different scenario. The Better Business Bureau received a total of 265 consumer complaints against the insurance company in the preceding three years, earning it a star rating of 1.98 out of 5. In terms of customer service, the most often voiced issues included poor customer service and aggressive advertising and sales tactics.

Compare life insurance companies

Numerous other service providers have been added to our list; for more information, see American Fidelity Life Insurance Review.