Americo Funeral Insurance Review (Eagle Premier Series)

Americo Funeral Insurance Review
Americo Funeral Insurance Review (Eagle Premier Series)

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When researching different life insurance companies, it is hard to know which plans are better than others. There are great burial insurance companies, while others should be avoided.

Our industry experts have reviewed Americo’s Eagle Premier series in this article.

Americo Funeral Insurance Review

Americo was established in the year of 1946. Formally known as “The College Life Insurance Company.” Americo is the holding company for multiple subsidiaries that the carrier owns and controls.

There are four carriers in the family of Americo insurance products.

  • Great Southern Life Insurance Company
  • United Fidelity Life Insurance Company
  • National Farmers Union Life Insurance Company
  • Investors Life Insurance Company of North America

Americo is currently one of the largest independent and privately-held life insurance companies in the United States. As of 2019, this carrier has 608,000 active policies and over $28.3 billion of coverage in force.

Company Details

  • Established: 1946
  • A.M. Best Financial Rating: A (excellent)
  • Headquarters: Kansas City, MO

Plan Types

This Americo life insurance review will be detailing the Eagle Premier Series, which has two funeral insurance plans.

  • Plan 1: Eagle Premier
  • Plan 2: Eagle Guaranteed

Both plans have three permanent whole life benefits.

Coverage Never Terminates: The policy will never terminate, and the death benefit will not decrease in coverage. This gives families peace of mind knowing coverage will be available regardless of how long the policyholder lives.

Price Never Increases: The price is locked in and will never change. This is a major benefit for seniors on a fixed income who need to know their expenses moving forward.

Builds Cash Value: For every payment made, a portion will go towards the cash value. Over time this amount will grow and can be borrowed from.

Eagle Premier

Plan 1: Eagle Premier

Eagle Premier Plan Facts

  • Age Eligibility: 50 – 85 (Depending on smoker or non-smoker)
  • Coverage Amount: $2,000 – $30,000
  • State Availability: 48 states & DC (excluding NY & VT)
  • Medical Exam: No
  • Health Questions: Yes
  • Waiting Period: No
  • Permanent Coverage: Yes
  • Builds a Cash Value: Yes
  • Smoking Rates: Yes

Day One Coverage

The Americo Eagle Premier product offers immediate coverage, which means that the policyholder will have death benefit coverage the day the policy is issued.

Quit Smoking Advantage Plan

This benefit allows smokers to qualify for non-smoking rates. It incentives policyholders to stop smoking while also saving them money each month. This is accomplished by giving tobacco users a non-smoking rate for the first three years of the policy.

If the client can provide evidence that they have quit smoking for 12 consecutive months during the first three years of the policy, they will continue to receive the nonsmoking rate for the remainder of the policy.

You will need to stop using this specific list of nicotine products for 12 consecutive months.

Additional Plan Benefits

Applicants can include the following three benefits with the plan.

Accelerated Death Benefit: Americo will advance up to 50% of the face amount if the insured is expected to die in the next 12 months. This feature is included with the policy at no additional cost.

Accidental Death Benefit: This feature gives an additional benefit if the insured passes away within 90 days of an accidental bodily injury. This benefit is included with the plan at no additional cost.

Child & Grandchild Rider: This feature issues level term insurance for children or grandchildren until 25 years old. This benefit requires an additional fee.

Americo Final Expense Rates

The Eagle Premier prices are comparable to plans from other top burial insurance providers. The rates shown are non-smoking.

Eagle Premier Monthly Premiums

$10,000 of coverage

Age Female Male
50 $33 $38
55 $36 $45
60 $38 $50
65 $49 $63
70 $61 $83
75 $83 $114
80 $129 $167
85 $191 $230

Eagle Guaranteed

Plan 2: Eagle Guaranteed

Eagle Guaranteed Plan Facts

  • Age Eligibility: 50 – 80
  • Coverage Amount: $2,000 – $10,000
  • State Availability: 48 states & DC (excluding NY & VT)
  • Medical Exam: No
  • Health Questions: No
  • Waiting Period: Yes
  • Permanent Coverage: Yes
  • Builds a Cash Value: Yes
  • Smoking Rates: No

No Medical Questions

Asking no medical questions, this final expense insurance plan is meant for seniors with severe health conditions. No health questions mean Americo will implement a required three-year waiting period.

Compare guaranteed acceptance plans.

Three-Year Waiting Period

This product has a three-year waiting period before your beneficiary will receive the full benefit upon death. This means if the policyholder were to pass away anytime before the third policy anniversary date, the beneficiary would be subject to a partial payout.

The Breakdown of Payout

  • Year 1: All paid premiums returned plus 5%
  • Year 2: All paid premiums returned plus 10%
  • Year 3: 75% of the coverage amount
  • All other years: Full coverage amount

Americo Accidental Death Provision

If the policyholder dies due to an accident during the waiting period, the full coverage amount will be distributed to the beneficiary. Once the waiting period has concluded, the accidental death benefit will no longer be active.

Americo Final Expense Quotes

The Eagle Guaranteed is more expensive when compared to most other guaranteed issue plans on the market. After reviewing Americo Eagle Guaranteed quotes, guaranteed life insurance from Gerber and Great Western are both less expensive and enforce only a 2-year waiting period.

Eagle Guaranteed Monthly Premiums

$10,000 of coverage

Age Female Male
50 $74 $95
55 $88 $113
60 $102 $132
65 $122 $158
70 $157 $221
75 $215 $303
80 $225 $312

Americo Final Expense Insurance Review: Medical Questions

Any YES answer to questions will disqualify the senior from the Eagle Premier plan. 

Have You ever been diagnosed, treated, tested positive, or been given medical advice, or prescribed medication by a licensed member of the medical profession for:
  • Alzheimer’s disease, dementia, memory loss, muscular dystrophy, or ALS (Lou Gehrig’s disease)?
  • Congestive heart failure, defibrillator placement, cardiomyopathy, chronic kidney disease or kidney failure, or received kidney dialysis?
  • Cirrhosis of the liver, Hepatitis (all forms, excluding recovered Hepatitis A), or liver failure?
  • Emphysema, chronic obstructive pulmonary disease (COPD), or any other chronic respiratory or lung problem, excluding allergies or asthma?
  • Metastatic cancer (cancer that has spread to other parts of the body)?
  • Two or more occurrences of cancer of any kind or a reoccurrence of a previous cancer?
  • AIDS, ARC, or HIV?
In the past 24 months, have You been diagnosed, treated, tested positive, or been given medical advice by a licensed member of the medical profession for:
  • Internal cancer, brain tumor, or malignant melanoma (excluding basal cell skin cancer)?
  • Complications of diabetes, including amputation, retinopathy (eye disease), nephropathy (kidney disease), neuropathy, insulin shock, or diabetic coma?
In the past 24 months, have You been diagnosed, treated, tested positive, received medical advice, counseling, or been prescribed medication by a licensed member of the medical profession for drug or alcohol abuse/dependency or addiction?
Within the last 12 months, have You been advised, by a licensed member of the medical profession, to have tests, surgery, or hospitalization (except for those related to HIV or AIDS), which have not been completed, or are You waiting for a medical diagnosis or results of medical tests or procedures which have not been received?
In the past 12 months, have You been diagnosed, treated, tested positive, been given medical advice, or prescribed medication by a licensed member of the medical profession for:
  • Angioplasty (balloon procedure), stent placement, or heart bypass surgery?
  • Stroke; heart attack, heart valve disease, coronary disease, angina (chest pain), or heart disorder (excluding hypertension)?
Have You received advice from a licensed member of the medical profession to have, are You waiting for, or have You ever received, an organ or tissue transplant?
Are You now or within the past 6 months have you been:
  • Hospitalized for 48 hours or more, bedridden or confined to or living in a nursing facility or correctional facility?
  • Receiving or been advised by a member of the medical profession to receive hospice care?
  • Receiving home health care for a chronic or debilitating condition?
  • Receiving assistance with activities of daily living, including eating, bathing, toileting, or dressing due to a chronic or debilitating condition?
  • Confined to a wheelchair or using a walker for assistance (except in the case of a temporary condition immediately following injury

FAQ icon tan & green

Americo Burial Insurance FAQ’s

Is Americo Insurance Legit?

This carrier is well-respected with a history of delivering on its commitments. With over 28 billion dollars of coverage in force, Americo is a company people can trust.

Is Americo a Good Insurance Company?

This Americo Life Insurance review shows that the company has a strong financial backing to pay claims. The Americo Eagle Premier product is a good option for smokers interested in quitting and for those in good health. However, applicants should avoid the guaranteed issue plan.

Are Americo Life Insurance Reviews Good?

Americo has competitive insurance pricing and solid product offerings. Seniors in the market for final expense insurance can feel confident using the Eagle Premier plan for coverage.

What is the Americo A.M. Best Rating?

The A.M. Best Americo insurance rating is an A (excellent). This shows Americo can be trusted to deliver on its financial liabilities, including paying out your claim when filed.

Who Owns Americo?

Americo Life owns multiple companies that are under their umbrella. This includes Great Southern Life Insurance Company, United Fidelity Life Insurance Company, National Farmers Union Life Insurance Company, and Investors Life Insurance Company of North America.

What is the Americo Ultra Protector Series?

The Americo Ultra Protector series consists of three plans.

  • Ultra Protector 1
  • Ultra Protector 2
  • Ultra Protector 3

This series is also final expense insurance but has different plan structures with separate price points. Talk to an agent to learn more about the specific differences between the Eagle Premier and Ultra Protector series.

Does Americo Life Insurance Payout?

When the policyholder passes away, there is a process that needs to be followed. The beneficiary will need to send the death certificate to Americo along with other requirements. If all steps are followed, the company will deliver on its financial commitments.

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Final Thoughts On The Americo Burial Insurance Review

a. This Americo Funeral Insurance Review has shown the company is a top option for tobacco users. The quit smoking advantage plan allows for smokers to receive non-smoking rates for a three-year period.

b. The Eagle Guaranteed plan is a more expensive option than other guaranteed issue plans on the market and should not be considered.

c. Working with an independent agent will be the top way to secure the best plan at the lowest price.

Willamette Life is an independent insurance agency specializing in burial insurance. Our job is to find you the lowest possible prices with the best plan structure.

Call us at 844-576-0019

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