American Amicable Term Life Insurance: Costs, Policy Details, & More

American Amicable, a highly rated life insurance company, offers term life insurance with no exam required.

We’ve made protecting your loved ones simple.

– American Amicable

Is American Amicable right for your life insurance needs? It depends.

In order to find the best no exam life insurance policy, it’s worth your time to do a little digging and researching.

American Amicable might be an excellent company to apply with, but before you do, there a five important product features to uncover, first.

Think of this article as your comprehensive, unbiased resource for Term Made Simple – including a complete product overview, application process, and quotes.

Table Of Contents

  1. Company Overview
  2. Product Review
  3. Riders
  4. Application
  6. Next Steps

Company Overview

american amicable

Headquartered in Waco, Texas, American Amicable (ALICO) was formed in 1910.

In 2010, ALICO celebrated 100 years of conducting business out of the celebrated skyscraper.

Today, ALICO is part of the American Amicable group, which includes IA American Life Insurance Company, Occidental Life insurance Company of North Carolina, Pioneer American Insurance Company, and Pioneer Security Life Insurance Company.

As a whole, the American Amicable group of companies has over four million clients and manages over $109.5 billion in assets.

Financial Strength Rating: A (A.M. Best)

Interesting fact – the ALICO building is a historical landmark in Waco, Texas.

American Amicable Term Made Simple

Before applying for coverage, learn the five important attributes of American Amicable’s no exam term life insurance policy.

Keep in mind, every no physical life insurance company varies in its products, application process, and underwriting practices.

The most important features to consider are:

  1. Wait time – turnaround time for your policy’s issuance
  2. Issue ages – the age range the carrier will provide coverage for
  3. Policy amount – known as face amount, the dollar amount of the life insurance policy
  4. Term length – the number of years your policy will last
  5. No exam – the specific underwriting process

How does American Amicable measure up?

1. Wait Time

Your wait time can be as short as 72 hours or take as long as two weeks.

The discrepancy in wait time is usually associated with whether or not your medical records (or Attending Physician’s Statement) is ordered.

If you need term life insurance coverage in an instant, consider the following carriers:

2. Issue Ages

American Amicable issues their Term Made Simple policies to individuals between the ages of 18 – 75.

Many no exam life insurance carriers stop issuing coverage at age 60.

Note – if you are looking for coverage for an infant or child, consider all of your baby life insurance options.

On the other hand, various policies exist for no exam life insurance for seniors. If you are a senior citizen, familiarize yourself before selecting a form of coverage.

3. Policy Amount

Referred to as face amount by life insurance carriers, American Amicable offers $50,000 – $400,000 in coverage via Term Made Simple.

Before selecting an amount, conduct a needs analysis to be sure your loved ones will be financially protected:

  • Funeral and medical bills
  • Taxes
  • Debts (credit card, student loan, car loan)
  • Mortgage or rent
  • Monthly living expenses
  • College tuition
  • Retirement

At the end of the day, some life insurance is better than no coverage at all. However, your loved ones will be better off if all of their financial needs are met should the unthinkable occur.

$50,000 in life insurance sometimes provides enough coverage, but in most cases, the financial need is substantially greater.

Often, after a needs analysis is complete, those in their working years and/or raising a family discover $500,000 in coverage or more is a better fit.

4. Policy Length

American Amicable offers term coverage in different policy lengths.

Be sure to purchase a term length that will provide coverage for as long as your loved ones will depend on you.

Note – if someone will depend on indefinitely, consider no exam whole life insurance.

5. No Exam

It’s important to know that every life insurance carrier utilizes its own specific underwriting process.

American Amicable has specific criteria in order to qualify for Term Made Simple:

  1. You must be between the ages of 18 – 75
  2. Policy must be between $50,000 – $400,000
  3. Your health must be decent


Term Made Simple life insurance offers a number of valuable riders.

Additional features of a life insurance contract, riders can make all the difference during a difficult time.

For no additional cost, American Amicable includes the accelerated benefit following riders:

Terminal Illness

Up to 100% of your death benefit if your life expectancy is 12 months or less, as diagnosed by a physician.

Note – some states allow 24 months or less of life expectancy.

Further readinglife insurance for terminally ill.

Confined Care

If you are confined to a nursing home at least 30 days after a policy’s issuance, you can receive a monthly benefit of 2.5% of the policy face amount (up to $5,000/month).

Chronic Illness

You may accelerate a portion of your death benefit if you are unable to perform at least two daily living activities (ADLs).

For an additional cost, you may opt to purchase the following riders:

Accidental Death Benefit

If death occurs as a result of a qualifying accident, an additional death benefit is paid out.

Children’s Insurance Agreement

Up to $15,000 of insurance coverage for each child, up to age 25, and then may be converted into an individual policy for up to 5 times the initial amount.

No need to demonstrate evidence of insurability.

Critical Illness

Provides a lump sum payment if you are diagnosed with one of the following illnesses:

Note – the rider can be purchased in a 25% or 50% acceleration of the base policy face amount, not to exceed $100,000.

Disability Income

Provides income protection during a qualifying disability.

If used, you may receive a monthly benefit of up to $1,500 per month for a maximum of two years.

Waiver of Premium

Your premiums are waived if you become totally and permanently disabled. Your policy remains active and disability diagnosis.

Waiver of Premium for Unemployment

You may waive your premium payments for up to six months, should you become unemployed for a period of four consecutive weeks.

Important – your policy also includes a conversion privilege. If your policy is in force, you may convert to any permanent plan offered by American Amicable at the time of conversion.

American Amicable Term Made Simple Application

You will want to understand the application process before moving forward. That way, you’re prepared and know what to expect.

american amicable

Step 1

Collaborate with an independent life insurance agent (that’s us) to submit your application.

The process is quick and online or over the phone, with no need to meet face-to-face with an agent.

Step 2

An American Amicable representative will get in touch with you to conduct a health/lifestyle interview.

Plan to have an approximately 20-minute phone conversation.

You will be asked questions about:

  • Name, date of birth, address, U.S. citizenship status
  • Social security number
  • Height/weight
  • Occupation
  • Annual income
  • Beneficiary information
    • Note – you cannot list a funeral home as a beneficiary
    • You must demonstrate insurable interest
  • Tobacco use
  • Your physician’s contact information
  • Prescribed medications
  • Your medical history, including
  • Pending medical diagnoses
  • Medical history of close blood-related family members (parents, siblings)
  • International travel plans
  • Criminal history, including DUI
  • Hobbies

Why do underwriters ask so many personal questions? In essence, risk.

Their job is to determine just how much risk your present, like with a health condition or risky hobby.

Then, based on your answers, a decision is made on whether to approve you for coverage and if so, how much to charge you in premiums.

Important – always be truthful during the interview. Dishonesty could equate to a declined application.

Step 3

Online databases are checked to further information and to verify some of your interview’s answers.

Like most life insurance carriers, American Amicable accesses:

  • Medical Information Bureau (MIB)
  • Pharmaceutical database
  • Motor Vehicle Report (MVR)

Step 4

Your underwriter will review your application, phone interview, and online databases to determine if you are a good candidate for Term Made Simple.

If needed, your medical records may be ordered, possibly extending the application turnaround time to about two weeks.

Step 5

Application decision.

American Amicable determines if you qualify for the policy you applied for.

Term Made Simple uses an accept/decline process, meaning that table ratings are not available. A preferred rating is available, however.

  • Preferred Non-Tobacco
  • Standard Non-Tobacco
  • Standard Tobacco

Most applicants are approved.

If, by chance, you are declined for coverage, do not fret. A decline with one carrier does not mean a decline across the board. Plenty of coverage options exist.

However, if you have a serious medical condition, – let’s say, for instance, you are a cancer patient, you may need to look at other forms of life insurance, like guaranteed issue.

American Amicable Quotes

Here, you will find sample quotes for Term Made Simple.

Keep in mind, rates are examples only and represent healthy, non-tobacco individuals for a 10-year term policy.

American Amicable No Exam Quotes Male

20 year old$10.89$26.33$38.34
30 year old$9.68$20.48$28.98
40 year old$10.89$27.68$40.50
50 year old$15.30$51.08$77.94
60 year old$31.28$128.93$202.50
70 year old $78.62$356.18$566.10
10-year term samples. Quotes based on healthy non-tobacco individuals.

American Amicable No Exam Quotes Female

20 year old$8.78$15.98$21.78
30 year old$8.96$16.88$23.22
40 year old$9.99$22.50$32.22
50 year old$12.96$37.80$56.70
60 year old$23.40$88.88$138.42
70 year old $47.48$207.68$328.50
10-year term samples. Quotes based on healthy non-tobacco individuals.

If you run free instant quotes, you will see that American Amicable is usually not the most affordable choice.

However, they are a highly-rated carrier with excellent riders.

Next Steps

Whether American Amicable or another carrier is the best option for your life insurance needs, we recommend you do two things.

First, partner up with an independent life insurance agent. Why? Independent agents have your best interest at heart and are not held captive to a particular life insurance company.

That way, you will receive multiple quotes from multiple carriers to find the best policy at the best price.

Second, prepare. Conduct a needs analysis to determine how much coverage you need. And, write down your important information, like your health history, so that you are ready for the application process.

To get started, simply fill out a free quote.