This National insurance company was founded in 1905, having experience of more than a century in providing coverage to its consumers.
It is ranked to have a financial size category of over $2 billion.
Summary
| Insurance Company | American National Insurance |
| Founded | 1905 |
| Availability | 24/7 |
| Website | Click Here |
Key Takeaways
- American National Insurance offers multiple coverage options for business, health, and life insurance.
- American National Insurance offers 4 options- whole, term, indexed universal & universal life policies.
- Indexed universal life provides an opportunity to increase the value of your cash.
- Term life insurance offers temporary coverage and a lump sum if the insurance holder passes away during the insurance term.
- Whole life policy provides permanent coverage with a defined death benefit.
- Universal life offers permanent coverage to customers like a whole life policy.
- The complaint ratio of ANI was 0.94, which indicates good customer service.
What is American National Insurance?
It makes its financial coverage available to its customers throughout the country with more than 4,500 employees.
With multiple coverage options for business, health, and life insurance, it ensures 24/7 availability for its customers.
American National Insurance Pros and Cons
Pros
- A renowned name in the world of insurance for more than a century.
- Covers multiple types of insurance for individuals and businesses.
- Strong financial stability with nationwide coverage.
- It provides you access to multiple riders to provide you access to benefits in any terminal illness.
- Some companies offer only one type of insurance; with American National Insurance, you can purchase any whole, term, indexed universal or universal life policies.
- Depending upon the type of your policy coverage, it ensures rapid application reviews.
- Provides 24/7 support to its customers.
Cons
- Some companies offer the facility of online quotations, which makes it easy for the customer to make comparisons. However, American National Insurance does not provide any such facilities.
- It allows you to purchase insurance only through some agent, so you should go to another company if you want to go for online purchasing.
- The Better Business Bureau has not accredited it. There have been several customer complaints in recent years.
- Based on your medical history, you may be denied insurance coverage because they don’t offer guaranteed issue policies for different age groups.
American National Insurance Available Plans
There are several insurance plans, and you can choose the one that exactly fits your needs.
You can leave ample protection for your family from $50,000 to almost $1 million. It has four plans.
Term life
Term life is the least expensive type of life insurance that offers temporary coverage and a lump sum if the insurance holder passes away during the insurance term.
You can select the term of 5, 10, 15, 20, or 30 years for this insurance and can even convert it into full-term or permanent coverage under the previous terms and conditions.
Any person under 65 can get term coverage of up to $250,000, and your application can get approved within 72 hours without any medical exam.
Whole Life
The whole life policy of American National insurance provides permanent coverage with a defined death benefit.
Unlike other companies, American National pays dividends to its policyholders, even if it is not guaranteed.
Universal Life
It also provides permanent coverage to customers like a whole life policy and is even more flexible as it provides you an opportunity to adjust your benefit amount over time. You can even take a loan for an emergency issue.
Indexed Universal Life
Indexed universal life provides an opportunity to increase the value of your cash.
This package is tied to the stock index, and hence you can earn interest according to the performance.
You can increase or decrease the benefit amount according to your needs, and American National Interest never credits a negative interest rate.
Customer Service
Suppose you want to get any information about the policies, riders, or premiums of American National Insurance.
In that case, you can contact their local insurance agent, which you can easily locate through the agent locator tool.
Moreover, they have a chatbot feature that provides automated answers to the basic and simple questions of the customers instantly.
Some customer service managers do not handle it, so you need to call them for detailed inquiries into their policies.
The Customer service providers are available on weekdays from Monday to Friday from 7 am to 8 pm CST, on Saturday from 7 am to 7 pm, and on Sunday from 9 am to 7 pm. You can contact them at 800-899-6806.
Moreover, fax and email contact options are available, and American National Insurance claims 24/7 hotline availability.
Complaint Index
The complaint index shows how well a company provides customer service to its consumers.
The National Association of Insurance Commissioners (NAIC) issues the complaint index by collecting the customer’s complaints and using them to create the company’s complaint ratio by relating the number of issues with the size of the insurance company.
The complaint ratio of 1.0 or lower is considered good as it indicates fewer complaints than expected because of the number of its insurances in the market.
According to the NAIC index of 2020, the complaint ratio of ANI was 0.94, which indicates good customer service.
In the last three years, 21 complaints have been registered against the company, and 6 of these complaints have been closed in the last 12 months. This indicates its good reputation among consumers.
Cancellation Policy
Every life insurance company offers you a time duration known as the “free look period” to decide whether you want to go with the insurance.
This period is usually ten days which can be longer in several states.
If you change your mind during this time, you can cancel your package and get a full refund.
However, after the free look period, the cancellation of the policy depends on the type of insurance.
Like you can cancel a term policy at any time, but you won’t get a refund of the amount you paid.
If you want to cancel the whole, universal or indexed universal policy, you will receive less cash value.
Hence, it is very important to review the cancellation policy of the company before purchasing any policy.
What differentiates it from others?
There are certain points that make American National Insurance different from others.
- It is known to sell a wide variety of insurance facilities.
- It is available in 50 states.
- It has high customer satisfaction.
Our experience with the product
I wanted insurance for my home and vehicle, and this is one of the best companies which helped me.
It not only provided me with the best insurance policy but also guided me regarding each of the policies.
I could call them any time to get information about my insurance.
The best thing was that I could buy more than one policy, and they also provided me with a complete package which does not cost much.
Comparison
Let’s compare it with some other companies.
American National Insurance vs. Lemonade Homeowners Insurance
The best thing about lemonade homeowners insurance is that it is completely online. You can sign up to their insurance website and can claim your files.
You can also make changes to the policy and can receive guidelines for any kind of insurance.
It provides a lot of extra coverage for your convenience. However, if you go for American National Insurance, it has a lot of insurance policies.
American National Insurance vs. USAA Homeowners Insurance
USAA Homeowners Insurance is highly rated because of their insurance policies and the customer service they provide.
It is popular among military families because it is considered one of the best military Insurance companies.
On the other hand, American National Insurance will provide insurance facilities to anyone without being related to a specific group.
American National Insurance vs. Amica Homeowners Insurance
If you are looking for the cheapest Insurance Company, It is recommended to go for. Amica Homeowners Insurance.
It mostly deals with automobiles insurance policies. You can also get other services from this company at a very good rate.
Frequently Asked Questions
How Is American National Insurance Customer Service?
American National claims that their hotline is 24/7 available to their customers and available for a generous hour.
Moreover, they also have a presence on social networking sites like Facebook, Linkedin, and Twitter.
How Can A Customer File A Claim?
American National insurance allows customers to file a claim online via email and over the phone.
To make it simple, you can claim by calling their life and annuity claim center at 888.265.2393.
Does American National Provide A User-Friendly Experience To Its Customers?
Though it is comparatively more restrictive than the websites of other insurance companies, the customers can still find information easily by requesting quotes. They can also connect through social media.
Amit Gupta is the founder of National Planning Cycles, a company that helps startups, individuals, and small businesses with their financial planning. He has a vast amount of experience in the finance sector, having managed Google Play accounts for some of the world’s most successful unicorns. Amit is an expert in his field, and he uses his knowledge to help others achieve their individual goals.
ARTICLE SOURCES
The National Planning Cycles is committed to producing high-quality content that follows industry standards. We do this by using primary sources, such as white papers and government data alongside original reporting from reputable publishers that were appropriate for the accuracy of information while still being unbiased. We have an editorial policy that includes verifiable facts with due credit given where applicable.