Americo Final Expense Insurance Review & Complaints: Life Insurance (2024)

Premiums
Claims
Feedback
Financial Strength

Americo has more than 100 years of experience in the life insurance industry and serves most of the country. Their products include life insurance, retirement savings plans, and Medicare Supplement coverage.

This Americo Final Expense Insurance review will cover the company’s final expense insurance plans. We’ll look at Americo insurance rates and how to get Americo Insurance quotes, as well as what coverage is available.

Before you read our Americo Insurance final expense insurance review, take a moment to see what you could pay for life insurance. Enter your ZIP code for free quotes.

About Americo Life Insurance

Americo was founded in 1946 as The College Life Insurance Company of America. The company has grown through mergers and acquisitions with other companies, some of which are much older and trace back to the early 1900s. These include The Ohio State Life Insurance Company (1906) and Great Southern Life Insurance Company (1909).

Americo is the underwriter and issuer of all of the life insurance policies for its family of companies, which then handle the management of in-force policies. They are licensed to operate in all states with the exception of New York, including the District of Columbia. The company’s headquarters is located in Kansas City, MO.

Group companies are responsible for several firsts in the insurance industry, including being the first to offer children’s policies and the first to provide living benefits.

Among the life insurance plans, they offer is final expense coverage, which like all of their policies is sold through local independent agents. The company’s website appears to be mainly aimed at agents, with little detail regarding the policies readily available and more information on agent incentive programs. The setup of the website indicates that they do not see a lot of sales through potential customer web searches.

Read our full review of Americo and all of its products for more information.

Americo Final Expense

The final expense plans offered by Americo are known as the Eagle Premier Series, and there are two options to choose from. Both expense policies are standard whole life insurance policies providing permanent life insurance coverage.

The main difference between the two is how death benefits are paid out. Eagle Premier offers the full death benefit from day one, while Eagle Guaranteed has a graded death benefit, with three years required before full benefits will be paid. The full benefit is payable for accidental death on both policies.

Both plans offer death benefit amounts ranging from $2,000 up to $30,000 and have no requirement for a medical exam in order to be issued. The rates do not change over time regardless of age or health condition. Americo also offers a Quit Smoking Benefit on these plans, through which smokers can qualify for non-smoker rates by quitting.

The site does not state what the issue age range is for this product. As mentioned previously, the information on the site is mainly aimed at agents and not at potential customers.

Americo Life Insurance Rates

In keeping with the agent-based approach, this company does not offer online quoting. Rate quotes can be obtained directly from an agent. The site does offer a quick contact form through which potential customers can request more information.

Interestingly – and unusually – there is no agent search found on the website. Only the request info form is available, which means the company will likely forward your contact information to a local agent of their choosing, who will provide an Americo final expense presentation.

Solicitation often results from this approach. You may receive a call from Americo final expense telesales operators, or they might mail you an Americo final expense brochure.

This takes away the customer’s option to select their own agent. There’s no detail on how to fill out an Americo final expense application, but an agent can help.

Americo Final Expense Claims Process

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

When it comes to filing a claim with Americo Final Expense Insurance, the process primarily involves contacting an agent directly. Americo’s website does not provide an online claims submission option, and the focus appears to be on agent-assisted sales. This means that customers who wish to file a claim will need to connect with their designated agent to initiate the process.

Average Claim Processing Time

Americo’s website does not specify an average claim processing time for their final expense insurance. The absence of detailed information on claim processing times suggests that customers may need to consult their assigned agent for specific details regarding claim timelines.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback on Americo Final Expense Insurance’s claim resolutions and payouts is limited. The Better Business Bureau (BBB) rating for Americo is B+, and there are 33 complaints on file within the past three years. Some complaints mention issues with claim payments.

However, more customer reviews and feedback from policyholders are needed to draw comprehensive conclusions about Americo’s claim resolution and payout performance.

Digital and Technological Features of  Americo Final Expense

Mobile App Features and Functionality

As of the available information, Americo’s website does not highlight specific mobile app features or functionality related to their final expense insurance. It appears that Americo’s digital presence is primarily geared towards agents rather than providing customer-facing mobile app features.

Online Account Management Capabilities

Americo’s website does not provide details regarding online account management capabilities for policyholders. Given their agent-focused approach, customers may need to rely on direct communication with their assigned agent for account-related inquiries and management.

Digital Tools and Resources

Americo’s website lacks specific digital tools and resources for policyholders related to final expense insurance. The absence of online tools suggests that customers may need to engage with their agents or contact Americo directly for any digital resources or tools they require.

Americo Life Insurance Ratings and Consumer Reviews

Americo has a B+ rating with the Better Business Bureau (BBB), which is down since the last time we looked at the file. The lowered grade is the result of two complaints against the company that were not resolved. The company has a total of 33 complaints on file in the past three years.

The reviews on the BBB page cite failure to play claims; one of these is written by an agent that sold Americo policies and states they repeatedly failed to pay client claims.

We were unable to find customer reviews anywhere else, and overall the number of complaints is low. That said, the failure to resolve two complaints has dropped this company’s rating and affects our impression of their reputation.

Americo Insurance: The Bottom Line

Americo is not the type of life insurance company that someone seeking to buy final expense insurance independently through online searches is likely to consider; they are very focused on agent sales instead. It would be beneficial to see them bring their rating back up. We would recommend purchasing insurance from this company only after consultation with a trusted agent of your choosing.

If you’d like to compare rates now that you’ve learned all about Americo life insurance, enter your ZIP code right here.