American Income Life Whole Life Insurance Review
American Income Life Insurance Company sounds like a company that would provide high-quality whole life insurance coverage to a large audience.
While it has several products to choose from, these continually come up short compared to the competition.
If all you are looking for is a quote to compare, you can get one here:
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The Good
- Strong Financial Ratings
- Lot’s of Riders
- Good Product List
- Solid Customer Base
The Bad
- Bait And Switch
- Non-Participating Whole Life
- Poor Customer Service
- Hard To Find Your Agent
Here are some crucial details and statistics associated with the company:
- American Income Life Insurance Company was founded in 1951 based in Waco, Texas.
- American Income Life Insurance is a wholly-owned subsidiary of Globe Life Inc. (NYSE: GL), an S&P 500 Company (source AIL)
- The company is licensed in 49 states, the District of Columbia, and Canada.
- Along with their New York subsidiary National Income Life, American Income Life has combined assets of more than $4.2 billion with more than $59 billion of life insurance in force in 2017 (as of 3/18).
With numbers like these, it’s only natural for some consumers to navigate toward American Income Life Insurance Company.
However, it’s also important to compare all the finer details to other providers, as this is the only way to understand what’s available fully. (data from AIL Website).
The Good
Strong Financial Rankings
While some companies fall short in this area, American Income Life Insurance Company has remained relatively strong over the years.
Consider the following:
- AM Best: A+
- Fitch: A+
- S&P: AA-
You can confidently purchase a policy from the company, knowing that it’s likely to be around in the future.
Solid Customer Base
There is no denying that American Income Life Insurance Company is smaller than some whole life insurance industry leaders.
Even so, the company has grown to more than two million policyholders throughout the United States and Canada.
When you consider its $59 billion of life insurance in force, you have a company with a solid customer base. One of their main focus is to:
“AIL’s efforts are focused on creating more union jobs. We proudly proclaim our status as a 100% union label Company.”
As you can see, they have a decent size customer base.
Wide Product List
American Income Life Insurance Company sells more than just whole life insurance. They have many different policies like:
- Hospital Indemnity
- Cancer Protection
- Critical Illness
- Whole Life Insurance
- Term Insurance
These products offer an excellent array for their customer base.
For example, its term life policies are very popular.
The Not So Good
Non-Participating Whole Life Insurance
When shopping for whole life insurance, it’s best to avoid non-participating companies.
American Income Life’s whole life has a 4.5% guaranteed rate, enough to attract many consumers. However, it’s important to note that there is no dividend on top of this.
Here’s why this is a big deal: many other companies offer both a guaranteed rate and a dividend. With this dividend, it’s easier to see that your policy will grow much faster with each passing year. As a result, your cash value grows faster, and your death benefit can also grow.
As a comparison, please look at our historical dividend article: Historical Whole Life Dividend Rates.
This one pitfall alone is reason enough to shy away from American Income Life Insurance Company’s whole life policies instead of choosing a participating company.
Bait And Switch
Unfortunately, there have been many instances of clients complaining about a bait and switch on the sale of Child Safety Kits. These kits seem like a fantastic idea:
The problems come with a salesperson trying to pressure you into buying life insurance.
In reality, everyone needs life insurance, but it’s strange when you expect one thing and get something else.
Now let’s look at some other reviews that are worrying.
Check out some of the bad reviews on Yelp:
Here are some other bad comments on the marketing tactic:
The kits can be a great idea if sold properly. But this strange way agents sell American Income Life policies can leave customers feeling cheated, and that’s why they call it a scam.
Bad Customer Service
There is nothing more important than keeping customers happy in today’s day and age. But unfortunately, it only takes a few bad online reviews to harm a company.
Unfortunately, the American Income Life Insurance Company finds itself in this position. As a result, hundreds upon hundreds of online reviews, both from individual policyholders and employers, are unhappy with the company.
Some people complain that it takes entirely too long to purchase a policy. You may be disappointed with the customer service. Some customers say that they are unable to get in touch with a company representative when they have questions or concerns.
Don’t take our word for it read more directly from the Better Business Bureau: Click Here to read more
It’s good that American Income Life Insurance Company has strong financial ratings, but this doesn’t do anything for the company regarding its online reviews.
Final Word
If there is one thing you should know about whole life insurance, it’s this: many reputable companies are selling high-quality policies while providing the best possible customer service.
Our American Income Life Whole Life Insurance Review is not favorable.
American Income Life Insurance Company has been around for more than 65 years, but it’s not the right choice for whole life insurance buyers for two reasons:
- It is a non-participating company, meaning your money will go further elsewhere.
- It doesn’t have positive reviews from other consumers.
With so many choices, you should never settle when buying a whole life insurance policy. This is an important purchase that you need to get right the first time around. American Income Life Insurance Company doesn’t allow you to purchase with peace of mind.
See How AIL Stack vs. The Competition
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Company Contact Information
American Income Life Insurance Company
Website: ailife.com
Phone Number: (800) 433-3405
Address:
1200 Wooded Acres Dr.
Waco, TX 76710
You are not even putting the right information. Do you research properly before giving the wrong picture of the company to people who are looking for the right whole life Insurance. Guarantee rate is 4.5%, it’s a big difference
Actually, American Income Life pays a 4.5% guaranteed interest rate on its Whole life policies… check your facts and don’t believe everything you read until you fact check for yourself.
Stating that folks are sold the child safety kits shows that you didn’t do proper research. Those kits are free. And for anyone who needs to call a corporate office, there’s an easy to find 1800 number right on the company web page.
There’s something questionable about a review followed up by links to other life insurance companies. Biased much? Perhaps AIL didn’t pay you a fee like the ones you advertise?
Hi Michael, thank you for your comment. The “selling” part comes from the selling life insurance after you present the kit. We do not represent AIL, as we only work with the best whole life carriers. And yes we would recommend other companies specifically for whole life insurance.
I need to contact you guys for 5 years you guys taking money from my account and I need to know what I’m a pain for, please.
Hi Wilmarie, we are not American Income Life. Feel free to call their customer service line at: 1 (800) 433-3405
Whole Life Expert
I understand that you don’t represent AIL but there are a lot of innocent people left holding the bag- I still don’t have a policy- We are on auto-pay and asked for the AIL to be cancelled still response. I am not asking for help but I only want to post this so AIL “agents” can see the other side of the business-
I get tired of your agents or who ever they are to keep calling and calling wanting to set up an appointment and then when you do setup an appointment with them they always show up late when you set an appointment you agents need to keep them and not show up an hour or so later some people don’t stay up all hours of the night when you have to go to work the next day. They really need to do scheduling better.
Hi Karen, we do not represent American Income Life, and we do not meet people in person. However, if you need help with your life insurance, we will be happy to assist you.
They hound you to death with phone calls and their agents just show up at your house wanting to come in and “explain” things to better your policy. They dont leave you alone. They tell you they cant send things through the mail. Well guess what, I get stuff from Prudential about my life ins policy. DONT GET INVOLVED WITH THEM!!
I have been with these people since 2015, I had no interaction with them until now! I was told I can draw a loan off my policy so I started the process I spoke with the representative, after answering lots of questions, being put on hold, discussing repayment and an interest rates I thought it was a done deal! After waiting a while I call back just to hear whole different story I had no idea that our form was to be mailed or emailed to me and then once it goes to the loan officer it would take 7 to 10 days or if direct deposited 3 days! So I opted for form to be emailed to me, which the representative act like she’s going to email it out right then, will 5 days later still no email! Highly agitated and disappointed kind of makes me think, is this how it’s going to be, in the case of something happening to me, in my family tries to collect my benefits on my behalf??
To everyone that has had a crappy experience with AIL let me just say I’m sorry. I’ve been an agent for a little less than a year now and I can tell you that I’ve NEVER pressured anyone into buying anything. I’ve encouraged enrollment into our cheaper programs ($15 and less) but never pressured. It’s so heartbreaking to hear how people have been treated in the past. I make sure my clients feel comfortable and regularly keep in contact with them. People can be awful but don’t blame the company for the greed of others.
This has been… enlightening. I’m a new agent with AIL (this isn’t my real name), and I admit I do feel a little iffy about the whole Child Safe Kits routine, but they are a solid resource. We offer a few other no-cost benefits alongside these that you get regardless of whether or not you purchase insurance. Maybe I’m being more patient because it’s my first job in the industry, but I still believe in what I’m doing. I’m so sorry so many people have had negative experiences. I know it’s not much, but I’m going to remember looking through these and take them into account in the future. I’m at least glad you did purchase insurance—it’s so much better to have it than not.
American Income Life changes people’s lives. They explain life insurance in a language that anyone can understand. I never knew the difference between term life and whole. Now I do. I won’t ever be rich so my family needs whole life. I got it when I was in my 20’s and they’ve come to me every other year to review my policy. 30 years later I know exactly who and what my life insurance means. How many of you even know what kind of coverage you have??
I was an agent for this company for several years. I sold to family and friends because I believed it to be a sound company with offerings to fill some legitimate needs. I had 2 tragedies with loved ones, 1 of whom was covered by a cancer plan. It worked as explained and added to my enthusiastically offering other clients this product. Insurance is about the “what if’s” in life. The purpose isn’t a get rich for the bereaved, nor system of investment for the policyholder’s financial advancement. Find a solid company that can ASSIST you in determining your needs and that can honestly fulfill them. Is AIL that company? Perhaps. Do your homework, but remember…..Every Company has a bottom line. $$$$$, or they won’t continue to be around. The management needs to grow so the agents must sell, sell, sell. The agents have families to support so they must sell, sell, sell. It’s BUSINESS. Businesses need product 🔄 so around it goes. Clients often do have events that require policy adjustments…..could be less or more or just different. AIL was my intro job to the industry. There was certainly a lot of competition, lying, favoritism, greed, shaming, boasting etc in house; that’s BUSINESS on the whole no matter the industry. It’s called commercialism! I’m no longer affiliated but I do have former clients still calling. Asking about their coverage as well voicing complaint about the annoying agents. In closing I remind them upselling is the lifeblood of every business, even Fast Food. ” How about fries to go with that drink” 😉
Unrelated to their products and ethics as a Company, the various agencies and agents are another matter. As previously mentioned….there is a bottom line for everyone.
I worked for AIL for a year.
I can tell you lots of things in the script they teach us to say is lying to the clients.
For ex.
1. Papers can’t be mailed
2. A new servicing agent that needs an updated claim (freedom of choice) form. These don’t expire and aren’t even needed and you don’t have a new service agent.
3. “Their job isn’t to sell you insurance”. It’s 100% commission.
It’s all bait and switch to get into you house to pressure you with sales or up sell your existing policy and you’ll get higher prices than most other companies.
There are also WAY too many dishonest people working there. Steer clear.
Hi,
So I’ve been an agent for this company for no more than 2 months now. First of all I feel really bad for all the customers that have had a negative experience with AIL and should never feel forced to buy life insurance. It’s not right when agents think about their finances before the families finance but from my personal experience, that varies from agent to agent and their moral ethics. Also AIL promotes higher quality with bonuses when families are satisfied so really it’s some agents who are thinking short term gains then their long term quality and retention. I’ve definitely shown URGENCY with my clients but NEVER pressured anyone just to make a sale. They are completely different, Urgency is more focusing on the fact that “my” schedule gets busy fast and it’s hard to reschedule(which is true) so definitely think about it sooner than later and the fact that the more they wait the higher chances of it being more expensive and their family not being covered. Pressure is when the client feels forced to do something despite them not wanting to. I believe a sense of Urgency is necessary because in most cases when people want to think about it, they never will until they experience a tragedy, see someone else go through it, or when they’re turning old. The only problem, is that their family won’t be covered during that whole time if something were to happen and when they finally do realize that they need it, they’re either unable to qualify or not get half as much coverage for the same price. I do believe in AIL and it’s benefits. One of the huge pro that wasn’t clearly mentioned is that a lot of unions actually endorse our programs so the company must be meeting some standards with their product. Idk 100% if there are better products out there to use as a financial tool, but definitely this is the best product I’ve come across that’s more catered towards protecting working people’s family. As far as the Child Safety Kit goes, like any business, it is a great resource for both the company and the client as long as the agent is not pressuring anyone into buying. The family gets the safety kits and other no cost benefits even when they don’t decide to enroll and they get to see the life insurance options which a lot of families don’t yet have. Again, I feel bad for the people that have had a negative experience with some agents but I definitely do not think those agents represent AIL and their products fairly. Hopefully this is helpful to anyone interested in knowing more about the company and their goal.
I have been with AIL for 4 years as an agent – As a result of COVID -the company has chosen to implement a totally virtual means of visiting with our prospective clients as well as existing policy holders – we are doing this in the form of either a Zoom visit or over the phone – we pride ourselves in being a company that STILL provides personal one on one service (rather than requiring our members to contact us either online or thru multiple frustrating phone prompts.
The company itself maintains & promotes strong ethics (were that not the case – we would not have an excellent rfinancial rating & longevity in the industry)
Unfortunately, as in every career – you can only encourage by example good work ethic – but that becomes the personal responsibility of each individual – those who choose to circumvent the process for their own benefit will reap what they sow & it is unfair to hold the company responsible for an individual’s actions and/or motives. I know many AIL agents llike myself who make themselves available 24/7/365 for any policyholder (even if they were not the one who wrote the original policy)
to address any needs or questions. That is something I can assure is not available from other companies.
Finally, as an AIL agent my desire is to establish a lifetime relationship with each person with whom I visit & to not only provide coverage that is needed, but also affordable – that results in continued trust & retention
We also provide each person with whom we visit valuable benefits at No Cost which has include ADD policy & a Health Savings Discount card which includes a No Cost Dental plan thru Humana Plus – these are given REGARDLESS of whether additional premium coverage is chosen.
***AIL also provides no cost premium waivers when policyholders experience a bonafide lay-off or strike and these premiums are not required to be paid back.
Thank you