American National Life Insurance Review

American National (or ANICO) doesn’t specialize in just life insurance. They offer a wide variety of insurance products. Their rates are quite competitive, and every life insurance product comes with living benefits.
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Written by Brian Greenberg
CEO / Founder & Licensed Insurance Agent

Last updated: July 18th, 2022

Reviewed by Grant Desselle
Licensed Insurance Agent

Our Take on American National Insurance Company (ANICO)

American National Life Insurance Company

American National is one of our favorite companies. They have amazing products, helpful employees, and are willing to work with people who have health issues.

The customer service is extraordinary.

We often consult with the company’s underwriters before applying to ensure clients get the best-priced policies.

Applications take about 30 minutes to complete over the phone, and an email signature is required.

American National products offer the best living benefit riders we have, for free The Terminal, Chronic and Critical Illness riders allow you to withdraw from the policy’s death benefit in the event of disability or significant medical expenses.

Regarding the Terminal illness rider, most companies allow access to the death benefit with a diagnosis of fewer than 24 months to live. American National products will enable you to withdrawal the death benefit with a diagnosis of fewer than 12 months. We have witnessed the joy this feature can bring a family.

The prices are not the lowest in the industry, though the free benefits that come with the policies make the products a steal.

We like this company’s ethics.

Founded in 1905 by William L. Moody, American National Insurance Company has grown to provide insurance products in all 50 states, as well as Puerto Rico.

American National (or ANICO, as it is sometimes abbreviated) does not only specialize in life insurance, but provides a variety of insurance products, such as homeowners, auto, and health insurance. When it comes to quality life insurance products, they offer term, no medical exam term, whole, and universal life insurance policies with flexible options.

Applicants will find ANICO’s rates to be quite competitive. All of their policies come with living benefits that can provide financial assistance in the event of a qualifying illness.

Because they offer a variety of products, this could also be a great option for those who are looking to purchase multiple types of insurance (car, health, etc.) from the same vendor.

A.M. Best RatingA
S&P RatingA
BBB RatingNot rated
Customer Service Phone800-899-6806
AddressAmerican National
One Moody Plaza
Galveston, TX 77550-7947

What we like

Diverse Options

Despite the fact that they don’t specialize in life insurance, ANICO offers a diverse array of customizable options for their term, whole, and universal life insurance plans.

Guaranteed Acceptance

Term life customers have the option to opt out of taking a medical exam. But ANICO also offers guaranteed acceptance on universal life policies, as well.

Included Riders

ANICO’s policies include an accelerated death benefit rider at no additional cost. This rider will pay an advance on your death benefit in the event of a qualifying illness.

What we don’t like

No Online Quotes

ANICO does not provide online quotes for their life insurance products; instead, they provide an option to contact an agent. You can get an online quote through life insurance brokers, like True Blue Life Insurance.

Relies on Insurance Agents

While some may appreciate the personal touch of an agent, others may prefer the convenience of an online application, which ANICO does not provide.

Confusing Product Offerings

Understanding the difference between Xpress Term and Xpress Plus requires a careful reading, which may be confusing at first glance.

American National Life Insurance Products

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American National offers a full range of products, with flexible options and included benefits.

Term Life

Length of Coverage10, 15, 20, and 30-year periods
Minimum Coverage$50,000
Maximum Coverage$1 million+
Estimated Time to Approval7-14 days
Product Features
  • No medical exam option
  • Living benefits included
  • Conversion options

American National offers a reliable term life insurance option, sometimes referred to as their “signature term” product. They offer 10, 15, 20, and 30-year options, though the applicant’s age can limit the length of the term available. Coverage ranges from $50,000 to over $1 million, and living benefits offer additional value.

Living Benefits

This policy includes accelerated death benefit riders that pay an advance on your death benefit if you are diagnosed with a chronic, critical, or terminal illness. This cash payout can offer assistance for uncovered medical expenses, groceries, and more. This rider is included at no additional cost.

No Exam Option

American National also provides accelerated underwriting through their Xpress term life product. If you are under the age of 64 and need less than $250,000 of coverage, you can receive life insurance without a medical exam. This is a relatively standard amount of coverage for a no-exam policy, though a few companies do offer larger amounts.

Conversion Options

American National’s term life coverage allows the policyholder to convert to permanent life insurance coverage without demonstrating insurability.

Term Life Xpress Plus

Length of Coverage10, 15, 20, and 30-year periods
Minimum Coverage$50,000
Maximum Coverage$1 million+
Estimated Time to ApprovalImmediate
Product Features
  • No medical exam for some applicants
  • Full death benefit

We found this to be a little confusing, but American National also offers a separate term life product with accelerated underwriting. Their Xpress term coverage offered limited coverage with no medical exam. Their Xpress Plus product is designed for those who need fuller coverage, but it does not guarantee coverage without an exam.

Full Death Benefit

The advantage of this policy is that it allows applicants 50 and younger to receive full coverage. Applicants 51 and above can receive coverage as high as $500,000.

Exam May be Required

If the applicant does not meet the initial parameters for accelerated underwriting, a medical exam may become necessary.

Whole Life

American National offers whole life insurance that lasts until the age of 121. This policy offers cash value accumulation, as well as level premiums throughout the duration of the policy. But we also like that American National provides some flexibility and additional options that increase the value of their product.

Flexible Payment Options

While policyholders have the option of paying level premiums for the lifetime of their policy, American National provides the option to pay the policy in full by age 90 or 95. They also offer an option to pay in full over a 20-year payment period.
If you choose their 21-year, increasing benefit option, your death benefit increases by 5% per year until it doubles, at which point it remains constant for the lifetime of the policy.

Living Benefits

Like their term life policies, their whole life product offers accelerated death benefits at no additional cost.


American National also pays dividends on their whole life policy, although there’s no guarantee that every policyholder will receive them.

No Medical Exam Option

Applicants between the ages of 45-80 can receive whole life insurance with no medical exam. After two years, the policy’s death benefit locks in for the duration of the policy.

Guaranteed Universal Life

American National offers guaranteed universal life coverage, with level premiums and a death benefit that remains constant until age 121.

Living Benefit Options

Like their other products, American National includes accelerated death benefit riders at no additional cost.

No Guarantee of Cash Value

Like other universal policies, this product has the ability to accumulate cash value, but because of the simplified nature of the policy, customers shouldn’t expect to see the same numbers as other permanent policies.

Guaranteed Cash-Out

This free rider allows the policyholder to surrender their policy for a full return of premium during years 15, 20, and 25 of their policy.

Indexed Universal Life

The benefit of any indexed universal life insurance plan is the ability to invest your cash values in popular market indexes. American National relies on the S&P 500 to determine interest rates for the crediting method of life insurance coverage.

0% Floor

Relying on market performance comes with a certain degree of risk. But American National protects your cash values with a 0% floor that protects your cash values, even if the index market performs poorly.

Living Benefits

Once again, American National includes accelerated death benefits free of charge. But this policy also includes a free “overloan” protection benefit to safeguard your cash values.

Policy benefits

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Customers looking for extensive riders and options may need to look elsewhere, but American National still has a reliable set of choices.


As we saw above, American National includes accelerated death benefits in each of their policies with no additional cost. But these policies can also be further modified with additional riders, such as:

Common American National riders:

  • Disability Waiver of Premium – If you are disabled, your premiums are waived for a predetermined period without risking a lapse in coverage.
  • Children’s Term Rider – Policyholders can add their children to their policies at the date of issue.
  • Guaranteed Increase Option Rider – Some universal policies allow the policyholder to increase their options by paying a higher premium.

Other Insurance Offerings

It’s worth noting that American National provides a wide range of insurance products. Some customers may appreciate having their insurance coverage under one roof.


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American National’s prices are competitive at every age bracket. They also offer the option of larger term coverage without a medical exam.

American National’s policies are some of the most affordable life insurance products in the industry. While they offer coverage for applicants as old as 80, their products offer benefits for every age bracket.

Perfect for Light Medical Conditions

Their affordable coverage may be ideal for those who have lighter medical conditions, but their accelerated benefit options ensure that applicants have guaranteed access to both term and whole life insurance.

Added Value of Living Benefits

All of American National’s policies come with accelerated death benefits. Bear in mind that these benefits can be applied not only to medical bills, but also to groceries, debts, and other end-of-life expenses.


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ANICO enjoys positive financial ratings and independent reviews.

Financial ratings

ANICO has received the following ratings from third-party reviews:

  • S&P Rating: A
  • A.M. Best Rating: A

Additionally, Forbes magazine has previously highlighted ANICO as one of the “100 Most Trustworthy Agencies,” indicating a high level of confidence in the company as a whole.

Customer reviews

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Though their life insurance is not independently rated, ANICO has a good track record of customer service overall.

Customer ratings

The National Association of Insurance Commissioners has found that ANICO has consistently received fewer customer complaints than companies of a similar size. However, these ratings are based on ANICO’s entire product line and are not specific to their life insurance products. Still, this speaks to a high level of consumer confidence in their products.

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