*Please note, we are not affiliated with Amica Mutual Life Insurance Company. This is simply a review.
Lots of people associate Amica Mutual Life Insurance Company with auto and homeowners insurance policies. They began operations over a century ago to pioneer the new field of auto insurance. Amica began offering life insurance a few decades ago, and they made a name for themselves by offering life insurance for seniors, younger adults, and even kids. In fact, this insurer will offer discounts on various insurance products for people who buy more than one kind of policy from the same company. They’ve quickly become known as one of the best rated life insurance companies out there. These discounts can give many people the chance to get cheap life insurance and save money on other kinds of policies.
We offer cheap life insurance quotes online or over the phone. You are welcome to try out instant, online system at any time. You can also call via a toll-free phone number during business hours if you have questions. If you want to shop for life insurance for seniors or for younger adults, we can help. We also make it easy to apply for no exam life insurance, but we can also help with fully underwritten products.
Some of the best rated life insurance companies offer a product known as guaranteed acceptance life insurance. These policies don’t require you to take a medical exam or answer any health questions at all. They are usually small, whole life policies that are sometimes called burial insurance or final expense insurance. They get these names because they are meant to cover final expenses, such as the funeral cost.
Insurance companies usually market these kinds of policies to people who are at least 50 years old. Some companies may accept people up to age 80 or even older. While not having to answer any health questions might offer some older and sicker people an advantage, many people can qualify for simplified-issue policies. With simplified-issue policies, you do have to answer a few health questions. In return, you will often get greater amounts of coverage, more affordable rates, and instant coverage.
Amica Mutual Life Insurance Company doesn’t promote guaranteed-acceptance life insurance for seniors on their marketing website. They do offer life insurance for seniors as a simplified issue policy. Again, this requires answering a few medical questions to apply; however, they design these policies so that they can accept relatively active seniors.
These are the two kinds of life insurance for seniors that Amica Mutual Life Insurance offers:
For the most affordable life insurance option, you might consider Amica for term life. These are some sample rates for a no exam life insurance policy for a woman in good health with a face value of $250,000 and a 20-year term:
Premiums for men tend to average a few dollars a month more.
Please note: These prices are just examples, so your rates could differ, depending upon when you apply, your answers to health questions, and other factors. Also note that some people may not qualify for no exam life insurance, according to the Amica website. The company might ask for an exam because of answers to the application questions or other information they receive.
Amica Mutual Life Insurance company offers two different kinds of term life insurance policies that you could consider.
Amica Level Term
This is a traditional, level term life insurance policy. These are some highlights of this policy:
The company says that all face values and terms may not be available for people at any age or health condition, so it’s best to consult with an agent for details. It’s pretty common to only find 20- or 10- year options for people from ages 50 to 65.
Some people can qualify for discounted rates based only upon answers to health condition and other information that Amica gathers, so this is a good way to get no exam life insurance if you’re healthy. Some insurers only assign a standard rate to everybody. However, based upon information, the company could ask for an exam in some cases.
What to Know About Life Insurance Exams
The company will pay for the exam, and it’s usually performed by a traveling paramedic and scheduled at a time and place that is convenient for the applicant. Typically, these are not invasive. The paramedic may take your height, weight, and vitals. They may ask for a urine, saliva, or blood sample. If you’re healthy, consenting to one of these exams may offer you the chance to save a lot of money on your premiums.
Amica’s Annual Renewable Term
You can also choose an annual, renewable term product from Amica. Because the insurer only sets rates for one year, this is one way to get cheap life insurance. The problem with it is that rates could increase a lot for the next year or in a few years, so you don’t have predictable premiums as you would with whole life or a longer term policy.
People tend to opt for this kind of term life when they have a short-term need for coverage and think that need will end within a year or so. For example, this might be good for people between jobs, people who are starting a business, or in similar situations. The company will allow you to convert this kind of coverage to a permanent policy at any time, so you might use renewable term as a way to hedge your bets if your finances or situation aren’t certain.
These are some highlights of renewable term from Amica:
Note that you may see very low rates that make renewable term appear to be very cheap life insurance, and that could be true for some period of time. As you age, your premiums will be certain to increase. Even if the company guarantees renewals, you may not be able to keep the policy if the premiums get too high. That’s why many people choose to lock in rates with longer terms or permanent coverage.
Amica is known as a company with competitive, affordable rates. This life insurance company also gives many customers the chance to have the entire application process streamlined by not having to take a medical exam. Some applicants may be asked to get a medical exam, based upon answers to medical questions or information that the insurer pulls from various sources.
If you also need homeowners or auto insurance, you may be able to save money on your other policies as well by enjoying a multiple-policy discount. The company says it has an annual retention rate of 95 percent for its auto and homeowners insurance customers.
These are some interesting facts about Amica Mutual:
Another positive thing to know about Amica is that JD Powers has awarded them their highest ratings for customer service for several years in a row. This award and the high retention rate must mean that they are doing something right to please customers.
You can try to search Google or Bing for affordable, best rated life insurance companies, but you’re bound to only find thousands of search results and very little information that you can actually use.
Instead of wasting your time, simply use our instant quote system to find best rated life insurance companies with competitive premiums and valuable coverage. If you have questions or need live assistance, you can also find toll-free phone numbers that will allow you to speak with a live agent.