American National Life Insurance Company Review

Life insurance can be an important component of most any overall financial plan. That’s because the proceeds from a life insurance policy may be used for any number of things, including the payoff of debt, the continuation of ongoing living expenses, and/or the payment of a child or grandchild’s future education.

While some people can easily qualify for life insurance coverage due to good health, there are others who may have a more difficult time. 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.

Before you purchase any life insurance coverage, it is important that you ensure that you are going with the proper type and amount of protection and that the insurance carrier you choose to purchase through is strong and stable from a financial standpoint. The company should also have a good, positive reputation for paying out its policyholders’ claims. One company that meets these criteria is American National Insurance Company or ANICO.

The History of American National Life Insurance Company

anicoAmerican National has been in the business of offering 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, and the company is licensed to do business in all of the U.S. states, as well as 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 names 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)

Insurer Ratings and Better Business Bureau Grade

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.

Due in large part to its strong financial foundation, American National has received positive ratings from the insurer rating agencies. These include an A from A.M. Best Company and an A from Standard and Poor’s.

At this time, American National Insurance Company is not an accredited company by the Better Business Bureau (BBB), and as such, the BBB has not assigned this company an overall grade. Throughout the past three years, however, American National has closed out a total of 16 customer complaints via the Better Business Bureau, four of which have been closed within the past 12 months. Of these total 16 complaints, 11 had to do with problems with the company’s products and/or services, and another five were related to billing and/or collection issues.

No Exam Life Insurance Coverage Offered Through American National

American National offers a wide range of life insurance coverage options. These include:

  • 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. Because there is no cash value or investment build up, the premium that is charged for 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 even that he or she dies unexpectedly while they still have a balance.
  • Whole Life – Whole life is a form of permanent life insurance that includes a death benefit, as well as a cash value component. The cash in these policies will typically grow at a set rate of interest that is set by the insurance company. Also, the death benefit and the premium rate on whole life are locked in. These policies cannot be canceled by the insurance company, other than for the non-payment of premium.
  • Indexed Universal Life – Indexed universal life insurance is another form of permanent life insurance coverage. Here, there is a death benefit and a cash value. The return on the cash value is based largely on the performance of an underlying market index (such as the S&P 500). When the underlying index performs well, the cash component will be credited – usually up to a certain cap. If, however, the underlying index performs negatively in a given year, the principal will be protected, and the cash value component is just simply credited with a 0%.
  • Variable Life – A variable life insurance policy – another form of permanent life insurance protection – 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. It is important to note that, 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

In addition to life insurance coverage, 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 – Today, as people are living much longer than ever before, one of the biggest concerns on people’s minds is that of having enough income throughout retirement. A retirement annuity can help to answer that concern, as the lifetime benefit option can provide 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 that are inside of the account can grow on a tax-deferred basis. 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.

How to Get the Best Premium Rate on No Exam Life Insurance Coverage

If you have been looking for the best premium rates on life insurance coverage through American National Life Insurance Company (ANICO) – or for that matter, from any insurance carrier – then it is likely to be beneficial if you work in conjunction with an independent life insurance agency or brokerage. That way, you will be better able to compare, side-by-side, numerous insurance policies, carriers, and premium quotes, and from there you can choose which one will be the best for you, as well as for your budget.

When you are ready to move forward with the process of shopping for life insurance, we can help. We are an independent life insurance broker, and we work with many of the top life insurance carriers in the marketplace today. We can provide you with all the key details that you require for making a well-informed life insurance buying decision, and we can do so for you very quickly and easily – all from your computer – and without you having to meet in person with an insurance agent. If you are ready to proceed, then just simply take a quick minute to fill out the quote form on this page.

Should you find that you still have any additional questions or concerns regarding no exam life insurance or even a fully medically underwritten plan, then please feel free to call us directly by phone. Our experts can be reached toll-free by dialing 800-277-3098.

We understand how overwhelming it can be to go through the process of purchasing life insurance protection. There are so many different variables to consider, and you want to make sure that you can move forward with the property type and amount of protection.

The good news is that this process can be made so much easier when you are working closely with an ally on your side. So, contact us today – we’re here to help.


Susan Wright holds a BA from Michigan State University and an MBA from St. Louis University. Having over 20 years of working experience in the insurance and financial services industry, she has trained more than 10,000 financial services representatives. Susan has had licenses in real estate, insurance, and NASD Securities, and she has earned nine industry professional designations, including CLU, ChFC, RHU, REBC, CSA, CLTC, CCFC, CSS, and ADPA. Read more about her on Google+

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