Ameritas Life Insurance Review

Ameritas Life Insurance Company Review

We can all agree that paying high premiums on life insurance is a bit unrealistic. That premium is an expense you’re stuck with for the rest of your life. In this Ameritas Life Insurance review, we will see just how important and affordable life insurance can be. 

With over 1,000 different life insurance companies in the United States, we know you can get term life insurance rates by age by switching to Ameritas Life Insurance Company. We’re here to give you more information about Ameritas Life Insurance and show you where you can get quotes.

Why wait to save money? Click on our FREE quote tool above, then check out our Ameritas life insurance review.

Average Ameritas Life Insurance Rates by Age

Shopping for life insurance can be a draining task. Each year it seems that there are more and more companies offering life insurance at the best rate. Keep in mind that there are high-risk lifestyles that can cause a higher rate such as smoking or skydiving.

More than a third (35 percent) of households would feel the financial impact within one month if the primary wage earner died.

People purchase life insurance for many reasons, such as replacing the income that would be lost with the death of a wage earner and to make sure your dependents don’t incur debt from your death.

Ameritas Life Insurance doesn’t offer rates for those of smokers versus non-smokers directly but does offer some helpful information. It is known that smoking can cause great harm to your body and can make the cost of life insurance a little more expensive.

Ameritas Life Insurance Average Annual Rates

Ameritas offers life insurance for people of all ages and in many different health conditions but it is important to understand that rates may vary based on health conditions and high-risk lifestyle.

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Ameritas Life Insurance Policies 

Ameritas has several policies for people of all ages and to fit the needs of all. If offers a wide variety of policies to choose from that fit the need of everyone and are affordable.

Term Life Insurance

As with most companies, buying term life with Ameritas Life Insurance is generally a higher benefit at a lower cost than permanent life insurance because protection is provided for a limited period and the policy does not grow in value. It’s a cost-effective way to cover a shorter-term need.

Whole Life Insurance

Ameritas Life Insurance’s whole life insurance features a guaranteed death benefit that won’t decrease, a premium guaranteed not to increase, and cash value that earns a guaranteed interest rate. Whole life insurance can create a good foundation for traditional insurance.

Whole life insurance provides permanent lifetime protection for those you care about. No matter when you die, as long as your premiums are paid, your beneficiaries will receive the money they need and generally won’t owe income taxes on those funds.

Universal Life Insurance

Universal life insurance policies with Ameritas include the Ameritas Value Plus Universal Life, Excel Essential Universal Life, Excel LifeValue Universal Life, and Excel LifeValue Survivor Universal Life. These universal policies offer control over your premiums and guaranteed protection as long as your policy maintains a cash surrender value of at least $1.

• Indexed Universal – With the Ameritas Excel Performance Variable Universal policy, you can select any combination of investment options to invest in with a portion of each premium you pay. You’ll have access to several investment management tools and are free to tweak your premium payments to benefit your current financial needs.
• Variable Universal with Ameritas offers three index universal policies to choose from: Excel Index Universal Life, Excel Plus Index Universal Life, and Growth Index Universal Life. These policies accumulate cash value based on the performance of the equity index they’re linked to, like the S&P 500 Index.

Ameritas Life Insurance pays the death benefit to the beneficiary upon the death of the insured. This money is typically tax-free.

Other Life Insurance Products

Ameritas also offers other products for its customers: disability insurance, retirement plans, and programs that help pay for college.

Life Insurance Riders

If its basic plans are not enough income protection for you, Ameritas has some additional riders you can attach to your plan. One of the popular riders is a cost-of-living adjustment. This rider will increase the monthly benefit based on the Consumer Price Index, with a maximum increase of 3 percent.

The longer you have the plan, the higher the cost of living might be, which means that when you file a claim, the money you receive may not go as far as you’d like.

On a similar note, you can also add future insurance optional coverage. If your policy has this rider, you can increase the coverage amount every year (up to age 55), without having to go through the underwriting process again.

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How to Get a Quote Online With Ameritas Life Insurance

It’s always important to make sure you are getting the best deal for your money and to get quality protection. To get a quote from Ameritas you just simply go to the website, type in your information such as date of birth, age, and name. Once you have decided you want to apply for life insurance with Ameritas just simply complete the online insurance application form.

The best way to get life insurance would be to visit the Ameritas Life Insurance website. You can also get a life insurance quote from Ameritas by phone and speaking to an agent directly.

Canceling Your Life Insurance Policy

Making the decision to cancel a life insurance policy is not something most people want to make but sometimes it is something that has to be done. Canceling a life insurance policy should be hassle-free and the company should not come with any questions about canceling. Canceling a policy with Ameritas Life Insurance is just that, easy and hassle-free.

How to Cancel

People may choose to cancel their life insurance policies for different reasons. Whatever the reason, it’s important to know that you’re not stuck with a policy for life. Canceling a life insurance policy should not be a hassle or come with a lot of questions. Canceling your life insurance policy with Ameritas has never been easier.

When canceling a policy all you have to do is complete the Ameritas Life Insurance Cancellation Form and send it to the company via email or fax. Within 30 days your policy will be canceled.  For retroactive terminations, from the date you notify the company, you may qualify for a refund of unearned premium credit from the most current statement.

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How to Make a Claim with Ameritas Life Insurance

Making a claim with Ameritas Life Insurance is easy. There is a claims forms to download and fill out. If you are making a death beneficiary claim you will make sure you are the beneficiary of the policy.

The first part of the claims process is to complete the claims form online and submit via email or fax.

If you still have questions after completing the claims forms:

• Existing individual member inquiries: 1-800-300-9566
• Inquiries for group plans (excluding claims): 1-800-659-2223
• Inquiries for group member claims. Phone: 1-800-487-5553

As you can see making a claim with Ameritas Life Insurance is a very simple process and does not take up a lot of your time. As with anything, it is important to follow up with Ameritas Life Insurance a few days after completing the form.

Ameritas Life Insurance’s Customer Experience

Ameritas feels that customer experience is very important, which is probably why the company has such a low number of complaints about life insurance, according to the National Association of Insurance Commissioners (NAIC).

There are only five customer complaints within the last three years.

This speaks favorably for Ameritas because there is such a small amount of customer complaints and it shows it responds to the needs of customers. The company’s claims contact center earned an excellence award for Benchmark Portal’s Center of Excellence. Ameritas has earned 12 Center of Excellent Call Center certifications.

Design of Website/App

On its website, Ameritas makes it easy for customers to navigate through to find the information they’re looking for. It shows a list of different areas of interest that customers might want to know when searching for life insurance. Ameritas also provides important background information about the company as well as several methods of contacting the company for even more information.

Ameritas, like many other companies, has an app for iPhones and Androids. 

• Look at ratings in the app stores. This app is free and delivers quotes for Ameritas FLX Living Benefits Insurance.
• The Ameritas Life Insurance App is user-friendly and easy to use. It’s easy to navigate. All you have to do it create an account and set up your account.

Using the Ameritas App on a phone or tablet is very easy. It’s just as simple as going to the App Store or Google Play store, downloading the app, and creating a login or using your current Ameritas login and having all your life insurance information right at your fingertips.

Ameritas Life Insurance mobile app is user friendly and makes accessing your information easy.

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About Ameritas Life Insurance

Ameritas Life Insurance also referred to as Ameritas Investment Corporation was founded in 1887 in Lincoln, Nebraska, where there were no other local insurance companies. Ameritas was started by five local businessmen who saw an opportunity and started The Old Line Bankers Life Insurance Company of Nebraska, which is now Ameritas Insurance Company. The company’s headquarters is still in Lincoln, Nebraska.

The company doesn’t just offer life insurance, but also Ameritas dental insurance and vision as well.

Researching Ameritas vision reviews can help you make an informed decision.

Ameritas Life Insurance’s Ratings

Ameritas has outstanding ratings with several different agencies. It is rated highly among the Better Business Bureau and Standard and Poor’s.

A.M. Best: As the most widely recognized financial rating service A.M Best has Ameritas rated an A (Excellent). Ameritas is rated as one of the best life insurance companies.

Better Business Bureau (BBB): The BBB is known for providing top-notch information for both customer satisfaction and complaints and gives Ameritas an A+ BBB rating.

Standard & Poor’s (S&P): S&P rates the worthiness and ability of a company to repay a debt. Ameritas is rated A+ (Strong), which shows its creditworthiness and financial strength.

Ameritas Life Insurance’s Market Share

If you are looking for a life insurance company you can trust, that is financially independent and continues to grow, then Ameritas is right for you.

Net income, also called net earnings, is calculated as sales minus cost of goods sold, selling, general and administrative expenses, operating expenses, depreciation, interest, taxes, and other expenses. Net loss is when expenses exceed the income or total revenue produced for a given period of time.

In 2018, Ameritas ranked 57th in the nation with a market share of 0.37 percent. Ameritas closed 2019 with $2.5 billion in total revenue, a 5 percent increase from the prior year, and grew total members’ equity 24 percent to $3.6 billion.

Ameritas Life Insurance is headed for a promising financial future, as the company’s numbers and profits continue to grow each year. Ameritas Life Insurance prides itself on being able to provide strength and financial stability to its customers.

Ameritas Life Insurance’s Online Presence

Ameritas Life Insurance has a strong online presence and is currently active on Facebook and Twitter. It also makes it easy for customers to reach out to them via email with questions.

Ameritas’ commercials are about building a stronger tomorrow for families and financial services.

Ameritas Life Insurance’s focus is on protecting what matters most to individuals and families.

Ameritas Life Insurance in the Community

Over the years, Ameritas has been dedicated to giving back and making a difference in the community.

Ameritas associates recorded 21,000 volunteer hours in their community. More than 300 organizations benefited from Ameritas’ charitable giving. Almost half of every dollar Ameritas contributed to a nonprofit in 2019 supported educational incentives. These are just a few of the ways Ameritas Life Insurance gives back to the community it serves. 

Ameritas Life Insurance’s Employees       

Ameritas Life Insurance has 3.1 stars with 170 employee reviews, according to glassdoor.com. Ameritas Independent Agencies Insurance Agent yearly salaries in the United States earns on average $67,787 a year.

Ameritas Life Insurance company employee benefits include great dental, vision, and medical plans as well as 401(k), stock options, and abundant leave time for all full-time employees. Ameritas 401(k) reviews state that they match employee contribution up to five percent, Ameritas Life Insurance has a place for people in all positions.

It has highly skilled managers and assistants as well as paid internships for those just starting out. Ameritas Life Insurance also offers employees student loan debt assistance. Ameritas Life Insurance is a good company to work for.

 Ameritas Life Insurance employees have received several awards and accolades. As mentioned earlier, the company’s claims contact center earned an excellence award for Benchmark Portal’s Center of Excellence. Ameritas has earned 12 Center of Excellence Call Center certifications.

The contact center is also accredited by the Utilization Review Accreditation Commission (URAC), an organization responsible for accrediting health plans.

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Pros & Cons of Ameritas Life Insurance

There are pros and cons when it comes to having Life Insurance, some may look at it as an extra expense but in reality, it is something everyone should invest in.

Pros of Ameritas Life Insurance

Just as with any other company, there are pros to having life insurance with Ameritas Life Insurance.

• Helps pay the bills and meet ongoing living expenses
• Pays off outstanding debt, including credit cards and your mortgage
• Finances large, future expenses
• Helps pay for college
• Protects a spouse’s retirement plans

Cons of Ameritas Life Insurance

There are not very many cons when it comes to having life insurance with Ameritas Life Insurance.

• Slower-moving company
• Cost of life insurance

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Ameritas Life Insurance: The Bottom Line

Ameritas offers a wide range of policies for those of all ages and in different stages of life. The company offers affordable whole, term and universal coverage policies to meet the ends of all individuals. It offers great financial strength and stability as well as offering a downloadable free mobile app for phones and tablets.

Through the app and online services, you can enroll in and check your coverage, make payments and so much more. Ameritas offers an award-winning customer service department that can always answer any questions and help with filing a claim.

Ameritas does not just have life insurance but also offers investments and vision and dental as well so you can have everything you need in a trustworthy company.

Now that you’ve read our Ameritas life insurance review, click on our FREE quote tool below to find out what you can save.

References:

1. https://www.bbb.org/us/ne/lincoln/profile/insurance-companies/ameritas-life-insurance-corp-0714-206000048
2. https://content.naic.org/cis_refined_results.htm?TABLEAU=CIS_CODE&COCODE=61301&:refresh
3. https://www.cdc.gov/tobacco/data_statistics/fact_sheets/index.htm

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