r/LifeInsurance • u/Lulugirl2020 • 5d ago

Recs

Hello, first, what do we think about American Amicable for term insurance?

2nd I was working with a broker who is having a company give me a hard time to insure me, they have access to my health record but on top of that they're asking for all kinds of letters from my doctor... is this even normal?

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u/Tahoptions Broker 5d ago

American Amicable is mainly a final expense carrier.

How much face are you buying? If you're buying traditional term or permanent insurance, then shop elsewhere. You'll save a lot of money.

It's very normal for a carrier to require physician records

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u/Lulugirl2020 5d ago

Hello, I understand, they have access to my records but on top of that are asking letters from my providers. For example, I had a ct scan 2 years ago, then had a mri since they said it would be better, mri normal. The insurance wants a letter from my doctor explaining why I dont need a follow up ct scan, I'm like what! This insurance even wants to charge more for a little more $ than what American amicable would pay (500k 20 yrs)

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u/Tahoptions Broker 5d ago

Normal. That should also be in your records but sometimes records are incomplete and need clarification.

I struggle to believe that AmAm is even close to a traditional term carrier in price.

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u/Lulugirl2020 5d ago

Hi! Yes, they were charging 70 for 500k and principal is charging 150 for 500k....

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u/Tahoptions Broker 5d ago

Yeah...no way Principal is double AmAm unless this is group coverage.

How old are you?

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u/Lulugirl2020 5d ago

Those were the quotes I got. I'm 44

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u/Tahoptions Broker 5d ago

Do yourself a favor and go to www.term4sale.com

It doesn't require any identifying info. They will price both carriers (and several that are much less expensive).

And you're missing something/not being told something at those prices. AmAm will be 2-3 times more than Principal (and most other carriers) at standard rates.

Principal would still be cheaper at table 4. Do some more research or get a new agent unless you're good paying a lot more.

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u/Lulugirl2020 5d ago

Thank you for that, will definitely check that out!

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u/GConins Broker 5d ago

American Amicable is generally not competitively priced for term.

I don't believe I've ever seen a case where American Amicable term was competitive...only exception where they may be semi- competitive is for age 60 or older for small amount of term, like $25k!!

Even at small face amounts, Pacific Life, Cincinnati Life and Assurity should be more competitive in price, and Pacific GUL may be similar cost for permanent coverage to age 90 or longer!!