American Amicable No Medical Exam Review
Quick Summary: A strong and well rounded no exam option. You can find cheaper, but the overall value here is excellent for what is included. Renewable to age 95, issued until 75, and convertible until 75 are all some of the highest age limits available. Not a great fit for those in excellent health but they will approve people with some health issues and do so without requiring a physical exam.
Skip the Exam
See our in-depth guide about life insurance without the medical exam. Compare more than 20 of the top companies and policies. Find out which is right for you today.
About the Company
Starting back in 1910, American Amicable has prided itself on being at the leading edge of innovation in the life insurance market. Through the years, their portfolio of companies has grown to 5 different insurance companies operating under the group.
AM Best gives American Amicable a rating of "A" which is the 3rd highest and considered very strong. The parent company, Industrial Alliance, manages over $100 Billion in assets.
American Amicable is considered a very safe company on solid financial footing.
About the Policy
Product Name
Term Made Simple
Coverage
$50,000 to $400,000
ISSUE AGE
18 to 75
TERM LENGTH
10, 15, 20, 30 years
Product Name
Term Made Simple
COVERAGE
$50,000 to $400,000
ISSUE AGE
18 to 75
TeRM LENGTH
10, 15, 20, 30 years
Underwriting Process
American Amicable will run a series of database checks to quickly gather information about you since they don't have the medical exam to look at.
- Motor Vehicle Report
- Prescription Database
- Medical Information Bureau
Think of the Medical Information Bureau (MIB) like a credit bureau for insurance application information. This was started to keep underwriting costs down and prevent fraud. Information about your health and previous approvals/denials will be stored in the MIB. Insurance carriers share what they find with other companies.
Bottom line: Expect information about your health to be discovered even if you don't take a medical examination.
Application Questions
Just like a fully underwritten policy, expect questions about your medical history and lifestyle including:
- Age
- Gender
- Hospitalizations
- Medical conditions
- Height and weight
- Tobacco usage
- Drug and alcohol use
- Occupation
- Income level
- Dangerous hobbies
Decision Time
- Age
- Gender
- Hospitalizations
- Medical conditions
- Height and weight
- Tobacco usage
- Drug and alcohol use
- Occupation
- Income level
- Dangerous hobbies
Decision Time
American Amicable is pretty fast. Some are approved within a few days, most in under 2 weeks. Medical records may be requested in some cases in order to give a decision. This can extend the timeline a couple more weeks.
Pros
Very good included riders and policy options
Can be renewed up to age 95 without new underwriting
Liberal build chart
Cons
You can find less expensive options (although it is a nice value)
Extras and Options
Term Made Simple has some very nice riders included at no cost. These are better than you'll find at most no exam companies. Included are:
- Terminal Illness Accelerated Benefits Rider
- Accelerated Benefits Rider - Confined Care
- Chronic Illness Accelerated Benefit Rider
At an additional cost, you can further customize this policy with the following riders:
- Accidental Death Benefit
- Accelerated Living Benefit Rider
- Children's Insurance Agreement
- Total Disability Benefit Rider
- Waiver of Premium Rider
- Waiver of Premium Rider for Unemployment Rider
American Amicable permits conversion to one of their permanent policies up to age 75. This is much higher than the average no exam policy. No proof of health and insurability is needed if you exercise the conversion.
Cost
American Amicable's no medical product is not the cheapest available although we do think it's a nice value for what you get in return.
Sample No Exam Term Premiums - American Amicable
42-year-old male at Standard health class - pricing listed is per month
Death Benefit | 10 Year | 20 Year | 30 Year |
|---|---|---|---|
$150,000 | $22 | $30 | $41 |
$250,000 | $44 | $65 | $90 |
$400,000 | $66 | $101 | $141 |
38-year-old female at Preferred health class - pricing listed is per month
Death Benefit | 10 Year | 20 Year | 30 Year |
|---|---|---|---|
$150,000 | $16 | $19 | $25 |
$250,000 | $27 | $37 | $52 |
$400,000 | $40 | $56 | $80 |
Use our quote engine to see what rate you'll pay for an American Amicable policy without the exam.
How to Find the Right No Medical Exam Policy
American Amicable is a popular non-medical choice for some of our clients.
But how to know if it's the right choice for you?
If you are in great health, you can probably do better since they don't offer higher than Standard health class without taking a physical exam. For those at Standard or substandard down to Table 4, it should be towards the top of your list.
You will want to consider the benefits and riders included in their policy and see if any are important to you. If you have a health issue that American Amicable is lenient towards, they may be a strong option. It's important to compare and investigate the 20+ companies and policies that offer no exam coverage before making this important decision.
The best way to do this is to work with an independent agency that is:
No Pressure. No Cost.
You're in luck:) We do all the above and more. If you'd like to have a no pressure talk about options, please contact us or fill out the quote request form on this site.
Life insurance rates are fixed by law so there is no additional cost to use our service and expertise. We would be grateful to help you put protection in place for those you love.
