American National Life Insurance Company Review

Regardless of what you’re shopping for, you want to make a good choice. This is especially true with life insurance.

Aside from your home, a life insurance plan will be the longest investment you make. With a lot of purchases, it’s easy to tell which one is a better deal.

Life insurance shopping isn’t that easy. Not only are there tons of plans and riders, but there are also thousands of companies.

For example, one choice you’ll have to make is about the medical exam.

In some cases, applying for a no exam policy could be the answer. That is because by skipping the medical examination, the underwriting process may be at least somewhat less stringent.

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After you’ve made that decision, which company are you going to choose? You need one who has a strong history and a bright looking future.
Thi article is going to review American National and determine if they fit in this category.

The History of American National Life Insurance Company

anico logo life insurance review American National has been selling insurance to its customers since 1905. Over the past 110+ years, the company has grown and expanded a great deal, due to expanding its product line, as well as affiliating with other insurance and financial entities.

American National Insurance Company – which is also oftentimes simply referred to as ANICO –  is the parent company of the American National family of companies –  which are collectively referred to as American National. This company offers a broad array of coverage products, which include life insurance, annuities, and property / casualty coverage. It also offers other financial related products and services.

Today, the company has more than 5 million policyholders who rely on it for financial protection – particularly in times of unexpected events such as illness, death, and natural disasters. American National Life Insurance Company is headquartered in Galveston, Texas. They can sell insurance in every state and also in Puerto Rico.

American National Life Insurance Company Review

American National is known for offering quality products, as well as for providing stellar customer service. The company has earned many awards and accolades over the years, including being named as one of America’s Most Trustworthy Financial Companies in 2017.

The company has a mission of earning the trust of its customers and its diverse distribution partners by always acting with integrity and fairness, and by working to exceed the expectations of its clients. This mission includes placing values FIRST in all the company does, including the areas of:

  • Financial Strength
  • Integrity
  • Respect
  • Service
  • Teamwork

American National makes it easy for policyholders to file claims and get their issues resolved by providing helpful links and information directly online.

The company is also highly involved in helping to give back to the communities I which its employees work and live. Just some of the charitable entities and organizations that are helped financially by ANICO include the following:

  • American Cancer Society (through the American Cancer Society Relay for Life)
  • Breast Cancer Support (through the D-Feet Breast Cancer Walk)
  • Resource & Crisis Center (through the Show You Care annual carnation sale for Valentine’s Day, and proceeds benefitting the Resource Crisis Center of Galveston)
  • The Salvation Army – (through assistance with various projects, such as the Back to School Clothing Drive, food drives, and the Angel Tree Holiday Drive)
  • United Way – (by American National Employees contributing to more than 90 local charities in the Galveston area)
  • Youth United / Student United Way – (through the Rock n’ Rib BBQ Festival)
  • Remember Our Veterans – (through the Flags for Veterans program)

Grades and Ratings

For well over a century, American National Life Insurance Company has kept its commitment to its original vision of helping families to reach higher and grow stronger by offering life insurance protect that help to provide both security and confidence. Today, the company’s vision has made American National strong and prosperous, ranking ANICO among the largest of life insurance companies in the United States.

American National has good grades from all of the organizations who specialize in these ratings. From A.M. Best, they have an “A” and the same is true with Standard and Poor’s.

Another place you should look when reviewing a company’s strength is with the BBB. unfortunately, ANICO has not been given a grade or accredited.

No Exam Life Insurance Coverage Offered Through American National

American National sells several kinds of insurance:

  • Term Life – Term life is the simplest form of life insurance protection. This is because term offers pure death benefit coverage for a set period, usually at a set premium rate. Term life insurance is usually quite affordable – even for substantial amounts of coverage.
  • Credit Life – Credit life is a specialized form of term life insurance which is typically used for paying off some or all a borrower’s debt in the event that he or she dies unexpectedly while they still have a balance.
  • Whole Life – These plans are permanent. In addition, to never expiring, they also accumulate value. They have more benefits, but they are also more expensive.
  • Indexed Universal Life – Indexed universal life insurance is another form of permanent life insurance coverage. The cash accumulated can earn higher rewards based on the market index it’s attached to.
  • Variable Life – A variable life insurance policy – has both death benefit coverage and a cash/investment component. Here, the funds in the cash component have their return based on the performance of equity investments, such as mutual funds. In this case, the policy will be credited positively when the funds perform well but can sustain a loss if the underlying funds suffer a loss.

In some cases, it is required that an applicant for coverage fully complete an application for coverage, and also take a medical examination, which typically includes submitting a blood and urine sample for review by the insurance company.

However, American National also offers several no exam life insurance policy options. Without the need to take a medical exam, it could be possible for someone who has various health issues to still qualify for coverage.

With American National’s no exam term life insurance, applicants may opt for between $50,000 and $250,000 in protection. No exam whole life insurance can be purchased up to $150,000 in coverage.

Typically, an applicant must be age 65 or under to be able to obtain no exam life insurance protection through American National. Even though a medical exam is not always required, the insurance company may still obtain a copy of an applicant’s health records and/or require that an individual answer certain health-related questions.

Because the no exam life insurance policies do not entail waiting for blood and urine sample result to be returned, the approval process for this type of coverage can be very quick. For example, in some cases it may only take just a few days for policy approval, and for the insurance coverage to take effect. In other instances – particularly with the company’s guarantee issue product – approval could be as quick as 15 minutes.

Other Products and Services Available

American National Life offers a long list of other products and services, including the following:

  • Health Insurance – American National offers many health insurance related products, including Medicare Supplement insurance, Supplemental Health coverage, credit disability, and employer stop loss coverage.
  • Personal Insurance – American National provides coverage for a broad range of personal insurance coverage options, including homeowners, renters, auto, collector car, recreational vehicle, and umbrella coverage.
  • Agribusiness Insurance – Another line of insurance provided through American National is agribusiness. These include insurance for farms and ranches, equine owners, and country estate coverage.
  • Business Insurance – American National also offers business owners and commercial auto insurance protection.
  • Retirement Annuities – A retirement annuity can act as a guaranteed lifetime income that lasts for as long as you need it (no matter how long that may be). In addition, before converting an annuity over into an income stream, the funds aren’t taxed until you withdraw them. American National Insurance Company offers an extensive list of annuity products, including a fixed deferred annuity, an index deferred annuity, a variable deferred annuity, and a single premium immediate annuity.

Getting Better Rates from American National

Because American National sells no exam protection, you’re going to have a harder time getting lower premiums. If they are getting less current health info, there are fewer things for you to improve.

One thing you can do is quit any tobacco products. As a smoker or chewing tobacco user, you’re getting hit with massive premiums.

Aside from quitting those bad habits, the quickest way you can save money is by looking at other companies. When you go to the store, you probably look at all the different brands. You want the cheapest option (depending on what it is).

You can’t walk into a store and look at the different life insurance options on the shelf, but you can still compare. We tell all of our customers the same thing: compare, compare, compare.

We can do the shopping for you. We will pick off the best policies off the shelf and deliver them to you. Why spend time doing something you don’t have to.


Susan Wright, CLU, ChFC, RHU, REBC, ADPA, CITRMS, CIPA has been in the insurance and financial field for over 27 years. Even with years of experience, she continues to create new resources for others. Everything from books to training material.

Susan received her MBA from St. Louis University and her BA from Michigan State University.

She has worked in several areas but excels in writing material for both finances and insurance. Her goal is to give professionals credibility and assist in streamlining the sales process.

She has written countless articles for a variety of websites.

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