As soon as my husband and I found out we were expecting our first child, we started thinking about life insurance. No, it’s not much fun to think about or spend on it, but the security that comes with it is worth every penny.
Life insurance gives us the feeling that at least our children are financially supported, no matter what happens to us.
When purchasing life insurance, it is important to consider all options. If you are looking for a long-standing, reliable company, American National might be the perfect option for you.
What is American National?
American citizen is an insurance company that believes in helping its customers find the right coverage. American National is one of the largest life insurance companies in the United States and was founded in 1905. The company is headquartered in Galveston, Texas, and operates in all 50 states and Puerto Rico.
They offer a full range of insurance products to meet all of your insurance needs. From life insurance to business, health, homeowner and leisure insurance, American National has it all for you.
How does American national life insurance work?
American national life insurance is old school, and I don’t mean that badly. Although many of us are getting more and more used to doing everything online, never seeing the face or hearing the voice of a real person, American National wants to connect.
After you sign in to the American National website and navigate to the Life Insurance section, the next thing you will be asked to do is find an agent.
To find an agent, you can either enter your zip code to conduct a targeted search in your area, or you can click “More Search Options.”
When you click “More Search Options” you will navigate to a new window where you can choose from a list of search options. From the drop-down list, you can search by area code, city, state, or even search for a specific agent if you already know their name.
Once you’ve entered your search criteria, you’ll be presented with a list of American National Insurance Agents in your area. You can see a picture of the different agents with their contact information and license number. It is then up to you to choose an agent.
At the very least, it’s a good idea to interview a few different American National Agents before making a decision.
It is even better to interview agents of various insurance companies to make sure you have a good idea of your options before making a decision.
What does American National Life Insurance cost?
The cost of life insurance with American National depends on a number of factors, including the type of coverage you want, your age, gender, and health.
To get a quote on life insurance, you must contact an American National insurance agent and provide some of your specific information.
American National Life Insurance Features
American National keeps its promotions simple so they can really focus on the best products for you. Here are some of their main features:
Several different types of coverage
American National offers five types of life insurance coverage:
- Whole life – When you invest in life insurance, you are protected for as long as you live. American National’s Whole Life option gives you a fixed premium plan so the cost of your policy stays the same – you don’t have to worry about surprises.
- Running time – Term life insurance covers you for a certain period of time, hence the word “term”. At the end of the specified term, the policy ends, unless you choose to renew. So, if you’re looking for coverage that will last until you’ve paid off your mortgage, or if your kids have grown and moved out of the house, consider the term. American National offers a variety of terms including 5, 10, 15, 20, and 30 years.
- Universal life – This is another permanent life insurance policy offered by American National. Universal Life differs from Whole Life in that you can customize your payments and withdrawals as you wish.
- Indexed Universal Life – This is an option that ties your insurance policy to a specific stock index like the S&P 500. With an indexed universal life insurance policy, you can earn accrued interest based on the performance of the stock index.
- Guaranteed Universal Life – Who knew there were so many life insurance options! This is the fifth and final type of life insurance offered by American National. The Guaranteed Universal Life policy allows you to adjust the length of your guaranteed death benefit.
A simple mobile app
While you have to contact American National directly by phone to receive a quote, as a customer you have access to their mobile app. It’s nothing special, but you can manage most of your account in the app and pay through the app too.
Local offices across the country
Again, American National is a great option if you want face-to-face contact with your agent. They have nationwide licensed agents and you can easily search for an agent near you on their website home page.
My experience researching American National Life Insurance
When I really started researching American National, I got a mixed amount of results. Of course, everything you read on the internet has to be taken with a grain of salt.
I’ve received some reviews from disgruntled customers. However, we all know that you need to consider the source. Happy people are often not as motivated to leave a review. It’s the angry people who usually go online to voice their concerns.
When it comes to more reputable sources, I did a search on the Better Business Bureau (BBB) website and found that it gives results based on each individual location. This led to a variety of results. For example, when I searched for the headquarters in Galveston, Texas, the BBB rating was “NR” which means it has not been rated and was listed as non-BBB accredited. From 2018 to April 2020, nine customer complaints were listed.
On the other hand, the American National Insurance Company of Murfreesboro, Tennessee, received an A + rating from the BBB and had no complaints. Depending on where you live, you may want to search the BBB to see what reviews and complaints are listed.
To your advantage, Forbes The American National Insurance Company was listed as one of America’s Most Trusted Financial Firms in 2017. How did you come to this conclusion? They took into account various factors, including risky behavior such as regulatory measures, methods of recording income and expenses, and even the risk of bankruptcy.
Who Is American National Life Insurance Best For?
People looking for multiple insurance products
American National may be good for people looking for multiple insurance products. This is because American National has a wide range of insurance products available and bundling products can save you money.
People who want to qualify without an exam
If you’re someone looking to qualify for life insurance without an exam, you’re also a good candidate to check out American National’s coverage.
Who Shouldn’t Use American National for Life Insurance?
People who want a quick and digital experience
If you are someone who wants a full online experience, you may want to go elsewhere for your life insurance needs. American National does not offer you an online quote and requires you to speak to an insurance agent in person or by phone.
People who want to compare several insurers
American National is not a comparison site. They will refer you to an American National insurance agent near you, but they all sell the same product. So if you want to compare across companies, you’ll need to look elsewhere.
When it comes to life insurance, all I can say is that you do your homework. You need to be familiar with the insurance policy you have chosen. So ask a ton of questions and don’t sign up for something that doesn’t feel right.