Amica Life Insurance: Is It A Good Choice?

Amica is a good option for those seeking term or whole life insurance. The company has strong customer service and financial strength ratings, though there aren’t many riders to customise your coverage. Amica offers term life insurance policies ranging from $100,000 to over $1 million. Whole life insurance policies must be purchased through an Amica agent, but you can get free insurance quotes online. Amica's whole life insurance policies offer coverage ranging from $25,000 to $1 million or more.

Amica's term life insurance policies

Amica offers term life insurance policies ranging from $100,000 to over $1 million. The company issues term life insurance policies to people ages 18 to 75. Amica's term life insurance policies tend to be the more affordable option, with low term life insurance rates and discounts for coverage amounts of $250,000 or more. The policies come in 10-, 15-, 20-, 25-, and 30-year increments and have a level premium and coverage, meaning these elements remain consistent as long as the policy is active and up to date on payments. Coverage can be converted to permanent life insurance before a deadline.

In many cases, no medical exam is required to qualify for Amica's term life insurance policies. However, applicants may need to fill out a health and lifestyle questionnaire, and some applicants might be able to skip the medical exam based on their answers and coverage amount.

Amica's whole life insurance policies

Amica offers three different whole life plans, with coverage from $25,000 to $1 million or more, and several payment options, so you can find a policy that fits your needs and budget. The three plans are:

• Whole Life 20: Premium payments are complete after 20 years, and your policy is guaranteed for the rest of your life. This plan is available to individuals up to age 80 at the time of issue.
• Whole Life 65: Premium payments are complete at age 65, and coverage lasts a lifetime. This plan is available to individuals up to age 50 at the time of issue.
• Whole Life 100: Premium payments are complete at age 100. This plan provides lifetime coverage at Amica's lowest annual whole life premiums. It is available to individuals up to age 80 at the time of issue.

Amica's financial strength

Amica Life Insurance has strong financial strength, with an A+ (Superior) rating from AM Best, one of the industry's highest ratings. AM Best is a leading authority on insurance company financial stability, and its ratings measure an insurer's financial strength. Amica Life Insurance's rating indicates that it has a superior ability to pay future claims.

Amica Life Insurance has been in business for over a century and has a reputation for delivering consistent, high-quality customer service. The company offers competitive life insurance rates and a range of product plans that can be customised to fit customers' needs.

In addition to its strong financial strength rating, Amica Life Insurance also has a good reputation for customer satisfaction. It has consistently high customer service and claims satisfaction scores with J.D. Power and has been ranked highly in its 2023 and 2024 U.S. Auto Claims Satisfaction Studies. Amica also scores well below average in terms of customer complaints, indicating that policyholders are generally happy with the company's service.

Amica Life Insurance's financial strength and positive customer satisfaction ratings suggest that it is a stable and reliable company that can be trusted to honour its financial obligations and provide quality service to its customers.

Amica's customer complaints and satisfaction

Amica has a good reputation with customers, with consistently low customer complaint scores. According to a NerdWallet analysis of data from the National Association of Insurance Commissioners, Amica has drawn fewer than the expected number of complaints to state regulators for a company of its size over three years.

Amica's website is user-friendly, with a clean design that makes it easy to find information about its life insurance policies. The website also features a Frequently Asked Questions page and a chat function. Amica also provides a mobile app for Apple and Android users, which can be used to view life insurance policy information, pay bills, and start the beneficiary change process. However, the Android version of the app has received lower user ratings due to reported glitches.

Amica offers a range of flexible policies designed to meet unique needs. The company provides term life insurance policies ranging from $100,000 to over $1 million, and whole life insurance policies ranging from $25,000 to $1 million or more. Amica also includes a terminal illness rider with its life insurance policies, which allows policyholders to receive a portion of the death benefit if they are diagnosed with a terminal illness.

While Amica has a good reputation for customer satisfaction, there have been some complaints regarding a lack of communication from the claims department. Additionally, Amica's life insurance lineup has been criticised for its limited rider options and low coverage amounts for whole life insurance.

Amica's application process

Term Life Insurance

Amica's term life insurance policies are available to people aged 18 to 75, with coverage lasting 10, 15, 20, 25, or 30 years. The policies are worth $100,000 to $5 million. To apply, you will need to fill out a health and lifestyle questionnaire, and depending on your answers and the coverage amount, you may be able to skip the medical exam.

The policy can be converted to permanent life insurance before a specified deadline.

Whole Life Insurance

Amica's whole life insurance policies offer coverage ranging from $25,000 to $1 million or more. You can choose to pay off your policy in 20 years, or spread your payments out until you reach the age of 65 or 100.

Application Process

To get a quote or apply for either type of policy, you will need to speak to an Amica agent by phone or in person. The application process takes around 10 to 15 minutes, and you will need to provide your personal information, medical history, and beneficiary details. After submitting your application, an Amica representative will contact you by phone to gather additional information and schedule a medical exam, which is paid for by the company.

Availability

Amica offers term life insurance quotes online in all states except Hawaii, and you can apply for coverage online in all states except Hawaii and New York. Whole life insurance quotes and applications must be done through an agent.

Frequently asked questions