Key Takeaways

• Americo offers simplified issue life insurance with minimal health questions and quick approval
• Their Eagle Select final expense series provides coverage options for various health profiles
• Unique features include the “Quit Smoking Advantage” and living benefits at no extra cost
• Post-issue MIB verification for up to 18 months may result in policy reconsideration
• Competitive in the simplified issue market but with coverage limitations compared to fully underwritten alternatives

Are you searching for life insurance with simplified underwriting and quick approval? Americo Financial Life and Annuity
Insurance Company specializes in providing accessible coverage options with streamlined application processes. This
comprehensive review examines Americo’s product lineup, underwriting approach, pricing considerations, and important
factors consumers should evaluate before purchasing.

Who is Americo Financial Life and Annuity Insurance Company?

Americo Financial Life and Annuity Insurance Company has established itself in the simplified issue life insurance
market. The company focuses on providing coverage options with minimal medical underwriting, making their products
accessible to consumers who might face challenges with traditional fully underwritten policies.

Unlike some larger insurers that emphasize fully underwritten products with extensive health evaluations, Americo’s
business model centers on simplified issue offerings with expedited approval processes. This approach serves consumers
seeking quick coverage decisions with limited health questioning.

Americo Life Insurance Products: A Detailed Breakdown

Eagle Select Final Expense Series

Americo’s final expense portfolio includes three distinct whole life insurance options designed to accommodate various
health profiles and coverage needs:

All Eagle Select policies include a $40 annual policy fee (commissionable).

Instant Decision IUL (Indexed Universal Life)

Americo’s IUL product combines permanent protection with potential cash value growth linked to market index performance:

• Age Eligibility: 18-75 years
• Coverage Range:
  ○ Ages 18-64: $50,000-$450,000
  ○ Ages 65-75: $25,000-$450,000
• Death Benefit Structure: Level with potential for growth
• Underwriting Approach: Simplified issue with instant decision
• Key Features:
  ○ 100% living benefits for critical, chronic, or terminal illness (up to the face amount)
  ○ Cash value potential linked to S&P 500 performance
  ○ Flexible premium structure
  ○ No optional riders available
• Best For: Consumers seeking permanent coverage with living benefits and growth potential

HMS Term Life Insurance

Americo offers multiple term life options with varying structures to address different protection needs:

• Age Eligibility: 20-75 years (60 for Cash Back Option)
• Term Periods: 15, 20, 25, and 30 years
• Coverage Range: $25,000-$450,000 ($300,000 for certain qualification levels)
• Product Variations:
  ○ Term 100: Traditional term coverage
  ○ Term 125: Term coverage plus 25% additional accidental death benefit
  ○ Continuation 10: 10% of face amount converts to whole life at term end
  ○ Continuation 25: 25% of face amount converts to whole life at term end
  ○ Payment Protector: Decreasing term with level premiums
  ○ Payment Protector Continuation: Decreasing term with 10% conversion to whole life
  ○ CBO (Cash Back Option): Term with 50% or 100% return of premium option
• Key Features:
  ○ 100% living benefits for critical, chronic, or terminal illness
  ○ Accidental death and other riders available for additional premium
• Best For: Consumers seeking temporary coverage with flexible features and living benefits

Underwriting Approach and Qualification Process

Simplified Issue Philosophy

Americo’s underwriting approach emphasizes accessibility over extensive medical evaluation. Their simplified issue
process typically involves:

1. Limited Health Questioning: Focused health inquiries rather than comprehensive medical history
2. Electronic Application: Digital submission with e-signature capabilities
3. Rapid Decisions: Instant or near-instant underwriting determinations
4. No Medical Exams: Physical examinations are not required for coverage consideration
5. Digital Policy Delivery: Electronic delivery of approved policy documents

Pricing Considerations and Value Assessment

Cost Factors

Americo’s pricing structure reflects their simplified underwriting approach. Key factors influencing premium rates
include:

• Age: Premiums increase with advancing age
• Gender: Rates typically differ between male and female applicants
• Tobacco Use: Non-tobacco users receive preferential rates (with potential exceptions through
  the Quit Smoking Advantage)
• Health Profile: Basic health considerations impact rate classification
• Coverage Amount: Larger face amounts result in higher premiums
• Product Selection: Different products carry varying premium structures

Value Proposition Analysis

When evaluating Americo’s value proposition, consumers should consider several dimensions:

1. Accessibility vs. Premium Optimization: Simplified underwriting increases approval likelihood
   but may result in higher premiums than fully underwritten alternatives
2. Included Benefits vs. Add-On Costs: Many Americo products include living benefits at no
   additional cost
3. Unique Features vs. Market Standards: Innovations like the Quit Smoking Advantage provide
   distinctive value for specific consumer segments
4. Coverage Limitations vs. Needs Assessment: Maximum coverage amounts may fall below some
   consumers’ protection requirements

Consumer Experience Considerations

Application and Policy Management

Americo emphasizes digital efficiency in their application process but maintains an agent-centered distribution model:

• Electronic Application: Digital submission streamlines the application experience
• E-Signature Capabilities: Remote completion of application requirements
• Agent-Guided Process: Professional assistance throughout the application journey
• Digital Policy Delivery: Electronic receipt of policy documents
• Limited Self-Service: Fewer online account management capabilities than some direct-to-consumer
  alternatives

Customer Service Infrastructure

Americo’s service model reflects their distribution approach:

• Agent-Centered Support: Primary service relationship through the selling agent
• Carrier Direct Access: Secondary support through company service channels
• Claims Processing: Standard industry protocols for beneficiary support
• Policy Administration: Traditional service model for policy changes and updates

Comparative Market Position

Who Should Consider Americo Life Insurance?

Ideal Consumer Profiles

Americo’s offerings align particularly well with several consumer segments:

1. Health-Challenged Applicants: Those with medical conditions that might complicate traditional
   underwriting
2. Recent Tobacco Users: Consumers who could benefit from the Quit Smoking Advantage
3. Quick Coverage Seekers: Those needing expedited approval decisions
4. Living Benefit Prioritizers: Consumers valuing accelerated benefit provisions
5. Moderate Coverage Needs: Those seeking protection within Americo’s coverage limits

Alternative Considerations

Consumers might explore other options if they:

1. Need Higher Coverage Amounts: Protection requirements exceeding Americo’s maximums
2. Prioritize Premium Optimization: Willingness to undergo comprehensive underwriting for
   potentially lower rates
3. Prefer Direct Consumer Interaction: Desire for extensive online self-service capabilities
4. Seek Brand Recognition: Preference for larger, more widely recognized insurance providers
5. Have Concerns About Verification: Discomfort with extended post-issue verification processes