2024 Americo Burial Insurance Review
Written by Daniel Ray, Life Insurance Expert |
✅
Fact Checked by
Lisamarie Monaco |
Editorial Disclosure
This Americo Burial Insurance Review aims to provide seniors with all the information they need to make an informed decision.
Planning for the future is essential, especially when it comes to securing burial insurance.
With a focus on affordability, coverage, and reliability, we’ll address common concerns and questions, ensuring you feel confident about your choice.
What is Americo Burial Insurance?
Americo burial insurance is a type of whole life insurance designed to cover funeral and burial expenses. It offers various coverage amounts, $5,000 to $40,000 tailored to fit your needs, ensuring that your loved ones won’t face financial burdens when you pass away.
Why Consider Americo Burial Insurance?
Choosing the right burial insurance is crucial. Americo stands out due to its competitive rates, flexible plans, and exceptional customer service. Compared to other providers, Americo offers unique benefits that make it a top choice for seniors.
Quit Smoking Advantage
The Quit Smoking Advantage allows you to receive an Eagle Premier Smoker policy with Nonsmoker rates for the first three policy years. Prior to the third policy anniversary, if you can provide evidence satisfactory to Americo’s requirements that you have quit smoking for at least 12 months, your Death Benefit and premium will remain level.
How Does it Work?
You pay the Nonsmoker premium in the first three years and, if you stop smoking for 12 consecutive months, you will continue to receive the Nonsmoker rates. If after three years you are unable to quit smoking, your face amount will be reduced and premium will not change. If you would like to keep the same face amount, you can contact Americo and request a higher premium.
Take a look:
Male, age 65, $10,000 Death Benefit, $65.40 Monthly Premium for first three years.
| Policy Year | Quits Smoking | Default Option – Never Quits Same Premium, Lower Death Benefit | Never Quits – Higher Premium and Same Death Benefit |
|---|---|---|---|
| 1 – 3 | $65.40 Monthly; $10,000 Death Benefit | $65.40 Monthly; $10,000 Death Benefit | |
| 4+ | $65.40 Monthly; $10,000 Death Benefit | $65.40 Monthly; $5,438.70 Death Benefit | $117.06 Monthly; $10,000 Death Benefit |
Detailed Review of Americo Burial Insurance
Coverage Amounts & Policy Features
Americo offers a range of coverage amounts, allowing you to choose the plan that best suits your needs. Whether you need minimal coverage or a more extensive policy, Americo provides customizable options to ensure you get the protection you need.
| Feature | Description |
|---|---|
| Policy Type | Individual, Permanent Whole Life Insurance |
| Coverage Amount | From $5,000 to $40,000 |
| Physical Exam Requirement | No physical exams required; acceptance based on answers to medical questions |
| Day One Protection | Immediate coverage from the first day |
| Cash Value | Builds cash value after a specified period |
| Accelerated Benefit Payment Rider | Included at no additional cost; advances up to 50% of the death benefit for terminal illness (maximum $20,000) |
| Accidental Death Benefit Rider | Additional benefit equal to the base death benefit or two times if death occurs while riding as a fare-paying passenger in a Common Carrier |
| Child and Grandchild Term Rider | Coverage for children up to age 25, with maximum coverage of $5,000 or equal to the base policy face amount |
| Quit Smoking Advantage | Smoker rates as Nonsmoker for first three years if the insured quits smoking; various options after three years based on smoking status |
Affordability of Premiums
One of the biggest concerns for seniors is the cost of premiums. Americo offers affordable premiums with options for different age groups and health conditions. Various discounts and payment plans are available to make it easier to fit insurance into your budget.
Female Sample Rates For $10,000
| Age | Eagle Premier | Eagle Premier Guaranteed |
|---|---|---|
| 40 | $29.95 | N/A |
| 45 | $32.24 | N/A |
| 50 | $34.08 | $70.76 |
| 55 | $37.89 | $78.29 |
| 60 | $41.34 | $85.27 |
| 65 | $52.83 | $95.57 |
| 70 | $65.60 | $114.82 |
| 75 | $86.89 | $146.40 |
| 80 | $135.12 | $166.54 |
| 85 | $196.69 | N/A |
Male Sample Rates For $10,000
| Age | Eagle Premier | Eagle Premier Guaranteed |
|---|---|---|
| 40 | $33.62 | N/A |
| 45 | $37.37 | N/A |
| 50 | $39.97 | $94.77 |
| 55 | $46.47 | $113.30 |
| 60 | $52.16 | $131.98 |
| 65 | $65.40 | $149.33 |
| 70 | $86.49 | $175.18 |
| 75 | $118.10 | $210.94 |
| 80 | $172.93 | $231.80 |
| 85 | $235.58 | N/A |
Medical Exam Requirements
Many seniors worry about the hassle of medical exams. With Americo, there are simplified issue options that do not require a medical exam, making the application process quick and straightforward.
Benefits Over Other Providers
Americo burial insurance offers several unique features, such as living benefits and flexible payment options. This sets Americo apart from competitors, providing added value to policyholders.
Reliability of Americo
Americo has a strong reputation for reliability and financial stability. The company has high financial stability ratings and positive reviews from customers, ensuring you can trust them with your burial insurance needs.
Claim Payout Speed
Timely payouts are crucial for funeral expenses. Americo is known for its efficient claim process, with average payout times being among the fastest in the industry. Real-life testimonials highlight the ease and speed of receiving benefits.
Policy Fees and Clauses
Transparency is key. Americo provides clear information about any fees and policy clauses, ensuring there are no surprises. You can review a sample policy document to understand all terms and conditions thoroughly.
Adjusting the Policy
Life circumstances can change, and Americo understands this. The policies are flexible, allowing you to adjust coverage or convert the policy if your needs evolve over time.
Missed Premium Payments
Worried about missing a payment? Americo offers a grace period and options for reinstating your policy, ensuring continuous coverage even if you face temporary financial difficulties.
Pre-existing Conditions and Policy benefits
Seniors often have concerns about pre-existing conditions. Americo burial insurance provides options that consider these conditions without excessively high premiums, including guaranteed issue policies.
Search your health impairment below to find out if you qualify
Borrowing Against Cash Value
Americo’s policies build cash value over time. You can borrow against this cash value if needed, with clear terms on interest rates and repayment options.
Additional Benefits and Riders
Enhance your policy with optional riders like accidental death, accelerated death benefits, or living benefits. These options provide added peace of mind and additional coverage.
Application Process
Applying for Americo burial insurance is simple. The process is designed to be user-friendly, with a step-by-step guide or checklist to help you through it. This ensures a smooth experience from start to finish.
Most applications are approved in under 10 minutes and can be activated immediatley.
Support During Application and Claims
Americo offers robust customer support throughout the application and claims process. Dedicated agents, 24/7 support lines, and online resources are available to assist you whenever needed.
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FAQ
Americo offers a range of coverage amounts to suit different needs, from minimal coverage to more extensive policies.
Premiums are affordable and vary based on age and health conditions, with various discounts and payment plans available.
No, there are simplified issue options that do not require a medical exam.
Americo offers unique features, competitive rates, and excellent customer service, making it a standout choice.
Americo is known for its financial stability and positive customer reviews, ensuring reliability.
Americo has an efficient claim process, with quick payout times often highlighted by customer testimonials.
Americo provides clear information on fees and policy clauses, ensuring transparency.
Yes, Americo offers flexible policies that can be adjusted or converted as needed.
Americo offers a grace period and reinstatement options to ensure continuous coverage.
Americo considers pre-existing conditions with fair premiums and offers guaranteed issue options.
Yes, policies build cash value over time, allowing you to borrow against it with clear terms.
Optional riders like accidental death and living benefits can enhance your policy.
The application process is straightforward and user-friendly, with a step-by-step guide to assist you.
Americo offers comprehensive customer support with dedicated agents and 24/7 assistance.
Conclusion
Choosing the right burial insurance is a crucial decision. This Americo Burial Insurance Review aims to provide seniors with all the necessary information to make an informed choice. With affordable premiums, flexible options, and excellent customer support, Americo stands out as a reliable choice for burial insurance.
For more information, contact a representative today and secure peace of mind for you and your loved ones.
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