American Amicable Life Insurance Company of Texas Life Insurance Products

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American Amicable Life Insurance Company of Texas offers various types of Life Insurance products. These products works in such a way that an individual saves through annuities, which accumulate over time to earn them retirement benefits.

Apart from annuities and retirement benefits, this insurance company also offers life insurance policy, which covers one against accidents and chronic diseases.

Among the policies issued by American Amicable Life Insurance Company include, Final Expense policy, Simplified Issue Term, Universal Life and Modified Life. Due to the importance of each policy, we shall discuss benefits and features of each policy.

  1. Final Expense Policy

Final expense policy is taken by an individual who is suffering from chronic diseases or one that is almost retiring. This policy is important because it ensures your dependents do not suffer after your death.

Features

Ordinary Whole Life Insurance

Issue ages 0 to 85 (ages vary in some states)

Multiple Death Benefit Plans to qualify for based on health history

No Cost accelerated benefits including Terminal Illness & Confined Care

Affordable Premiums that never increase regardless of changes to your age or health.

Death Benefit cannot decrease regardless of changes to your age or health.

Benefits are paid to your beneficiary and are not subject to federal income tax.

Cannot be canceled because of changes to your age or health as long as premiums are paid.

Accumulated Cash Value can be used for emergencies or other financial needs.

No Medical Exams or blood work required as part of the application process.

  1. Simplified Issue Term

This is another insurance policy offered by American Amicable Life Insurance Company.The policy mostly targets government workers, and has the following features

Non-Medical

 

No Medical Exams or blood work required as part of the application process

Several different term durations to choose from to suit your needs

Coverage amounts range from $25,000 to $250,000

Return of Premium option available

Convertible to a permanent plan of insurance without proof of insurability

Association Term

No Medical Exams or blood work required as part of the application process

10 year renewable term

Issue ages 18 to 65

Plans are available to members of the following:

All Government Employees (Federal, State, County & City)

First Responders (Police, Firemen, emergency medical professionals)

Employees of State Funded Educational Institutions

Railroad Employees

Hospital Employees

Spouses of eligible individuals

Universal Term Policy

This is a policy that is suitable for everyone. The policy has the following features

Non-Medical Universal Life

Flexible-premium, adjustable-benefit life insurance contract which accumulates cash value

No Medical Exams or blood work required as part of the application process

Coverage amounts range from $25,000 to $250,000

15 year no-lapse guarantee if minimum premium is paid

Fully Underwritten Universal Life

Flexible-premium, adjustable-benefit life insurance contract which accumulates cash value

No stated maximum coverage amount

No-lapse guarantee if minimum premium is paid

Modified Life Policy

Life Insurance with Cash Accumulation Option

Life insurance products combined with a cash accumulation option.

Whole Life or Term Insurance options are available.

 

 

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