When it comes to buying life insurance, American Memorial Life Insurance Company is a name that comes to mind for many. The company has been providing life insurance services for the past several years and has a reputation for being reliable and trustworthy. In this article, we will take a comprehensive look at the company, including its history, services, and policies.
History of American Memorial Life Insurance Company
American Memorial Life Insurance Company was founded in 1942 and is based in Rapid City, South Dakota. The company was originally established to provide life insurance and annuity products to members of the American Legion, a veterans’ organization. Over the years, the company has expanded its services and now offers its products to the general public as well.
Today, the company operates in 43 states across the United States and has earned a reputation for being one of the best life insurance companies in the market.
Growth of the Company
Over the years, American Memorial Life Insurance Company has grown substantially. The company has expanded its services and products to cater to the needs of its customers. It has also acquired other companies to strengthen its position in the market.
In 1988, the company acquired The Woodmen Accident and Life Company. This acquisition allowed the company to expand its operations in several states including Nebraska, New Mexico, and Arizona.
In 2017, American Memorial Life Insurance Company was acquired by Assurant, a global provider of risk management solutions.
Services Offered by American Memorial Life Insurance Company
American Memorial Life Insurance Company offers a range of life insurance products to meet the diverse needs of its customers. The company offers term life insurance, whole life insurance, and universal life insurance policies.
Term Life Insurance
Term life insurance provides coverage for a specific period of time, usually between 10 and 30 years. The policyholder pays premiums to the insurance company, and if they pass away during the coverage period, their beneficiaries receive a death benefit.
Term life insurance is ideal for individuals who need coverage for a limited period. It is also the most affordable type of life insurance.
Whole Life Insurance
Whole life insurance provides coverage for the entire life of the policyholder. The premiums are higher than those of term life insurance, but the policy builds cash value over time.
Whole life insurance is ideal for individuals who want a permanent life insurance policy that can also serve as an investment vehicle.
Universal Life Insurance
Universal life insurance is a flexible type of life insurance that allows policyholders to adjust their premiums and death benefits as their needs change over time. It also builds cash value over time.
Universal life insurance is ideal for individuals who want flexibility and control over their life insurance policies.
American Memorial Life Insurance Company Policies
American Memorial Life Insurance Company offers several policies to meet the diverse needs of its customers. Below are some of the policies offered by the company.
LegacyShield Whole Life Insurance
LegacyShield Whole Life Insurance is a permanent life insurance policy that provides coverage for the entire life of the policyholder. The policy builds cash value over time, and the premiums remain level throughout the policy’s term.
LegacyShield Whole Life Insurance is ideal for individuals who want a permanent life insurance policy that provides financial security for their loved ones.
LegacyShield Universal Life Insurance
LegacyShield Universal Life Insurance is a flexible life insurance policy that allows policyholders to adjust their premiums and death benefits according to their needs. The policy also builds cash value over time.
LegacyShield Universal Life Insurance is ideal for individuals who want a flexible life insurance policy that can adapt to their changing needs.
Term Life Insurance
Term Life Insurance provides coverage for a specific period of time. The policyholder pays premiums to the insurance company, and if they pass away during the coverage period, their beneficiaries receive a death benefit.
Term Life Insurance is ideal for individuals who need coverage for a limited period, such as to cover a mortgage or college expenses.
FAQs about American Memorial Life Insurance Company
Question |
Answer |
How long has American Memorial Life Insurance Company been in business? |
American Memorial Life Insurance Company was founded in 1942. |
What types of life insurance policies does American Memorial Life Insurance Company offer? |
American Memorial Life Insurance Company offers term life insurance, whole life insurance, and universal life insurance policies. |
What is term life insurance? |
Term life insurance provides coverage for a specific period of time, usually between 10 and 30 years. |
What is whole life insurance? |
Whole life insurance provides coverage for the entire life of the policyholder. |
What is universal life insurance? |
Universal life insurance is a flexible type of life insurance that allows policyholders to adjust their premiums and death benefits as their needs change over time. |
Conclusion
American Memorial Life Insurance Company is a reputable life insurance provider that offers a range of policies to meet the diverse needs of its customers. Whether you are looking for term life insurance, whole life insurance, or universal life insurance, the company has a solution to meet your needs. With its long-standing history and reputation for reliability, American Memorial Life Insurance Company is a name you can trust.
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