American Family Life Insurance Company Review
- The American Family Life Insurance Company aims to help customers protect what matters most to them. Explore American Family's wide range of coverage options.
American Family Life Insurance Company is one of 14 companies that make up American Family Insurance. This customer-focused company is dedicated to helping clients safeguard their dreams, offering policies ranging from pet coverage to life insurance. Learn whether an American Family Life Insurance Company policy is right for you.
About the American Family Life Insurance Company
American Family Life Insurance Company’s parent organization began its life in 1927 as Farmers Mutual Automobile Insurance Company, selling auto insurance to the Wisconsin farming community. As its base and offerings grew, the company eventually changed its name and is now a Fortune 500 company and one of the nation’s largest property and casualty insurers.
As part of American Family Insurance, the American Family Life Insurance Company is a customer-driven insurance company, selling policies through agents in 19 states. Its mission is to inspire, protect and restore the dreams of its clients by providing the right insurance solutions.
What Life Insurance Products Does the American Family Life Insurance Company Offer?
The American Family Insurance family of companies offers coverage options in numerous categories, including:
- Vehicles: Auto policies through American Family cover everything from cars to snowmobiles. In addition to standard benefits, plans may include coverage for roadside assistance and rental reimbursement.
- Property: American Family Insurance offers homeowners policies that cover freestanding houses, manufactured homes and condos. Renters policies and personal property plans are also available to help individuals safeguard valuable belongings.
- Pet: Pet insurance policies from American Family Insurance provide coverage if your pet experiences an unexpected injury or illness. Plans cover a wide array of services, including emergency care, surgeries and prescription medications.
- Umbrella: Personal umbrella plans add extra liability protection to other types of policies, such as auto and home plans. These policies increase the coverage amounts if property damage or personal injuries occur because of a policyholder's actions or negligence.
- Travel: American Family Insurance offers several types of travel insurance, including global medical insurance, trip cancellation coverage and insurance for travelers driving or boating to Mexico.
- Health: American Family Insurance offers individual health insurance policies and group plans for businesses looking to provide benefits to their employees. The company also offers Medicare supplement insurance and short-term health policies designed to insure individuals who are between plans.
- Business: American Family's business coverage provides solutions for contractors, retail establishments and landlords. Many policies can be customized to accommodate unique situations.
- Farm and ranch: Farmers and ranchers have unique needs, and American Family Insurance offers customizable plans that combine elements of homeowners and business insurance. Benefits may include coverage for equipment breakdowns, lost income and damage to dwellings and other structures.
Life Insurance Policies
To accommodate the varying needs of today's consumers, the American Family Life Insurance Company offers six types of life insurance policies:
- Simplified term life insurance: This budget-friendly coverage features a streamlined buying process with a quick approval time. Purchasers may choose a 10-, 15-, 20- or 30-year term, and a death benefit is guaranteed if the insured dies during the contractual term.
- Term life insurance: Designed for affordability, American Family Life Insurance policies are available in 10-, 15-, 20- or 30-year terms, with varying coverage amounts. Depending on the plan's terms, some applicants may not need to undergo a medical exam. Some term policies also offer an option to convert them to permanent coverage.
- Whole life insurance: American Family’s whole life plans provides lifelong coverage. They feature fixed premiums, a guaranteed death benefit and a cash value component that may be borrowed against. Purchasers may choose a policy with smaller premiums stretched out over a lifetime or can opt for the company’s DreamSecure 15 Pay whole life insurance, which lets policyholders pay off the plan in 15 years.
- Children’s whole life insurance: American Family’s kid-friendly policies are designed to provide a lifetime of coverage. Premiums will never increase, regardless of age or changes to health, and additional coverage may be purchased at specific ages or milestones without additional underwriting steps.
- Senior whole life insurance: Senior whole life plans are designed for individuals between the ages of 50 and 80. With a guaranteed death benefit ranging between $10,000 and $15,000, these policies are ideal for covering funeral and burial expenses and other end-of-life costs. No medical exam is required, and seniors can often get coverage within a week, if approved.
- Flexible life insurance: With adjustable premiums and death benefits, this flexible policy is designed to accommodate a policyholder’s changing needs. It includes a cash value component that may be withdrawn or borrowed against as wealth accrues, and additional coverage may be acquired through add-ons such as children’s insurance riders, guaranteed purchase options and a waiver of monthly deductions if the insured becomes completely disabled and can’t work.
The Pros and Cons of American Family Life Insurance Company
Working with an insurer that’s part of a larger family of businesses has advantages. In addition to a wide array of life insurance plans, the company sells numerous other policies, including coverage for pets, travel and recreational vehicles. American Family Life even offers dedicated life insurance plans for seniors and children.
Plus, because of American Family’s comprehensive selection of plans, customers can often lower their costs by bundling multiple policies, such as home and auto. Customers can also reduce their policy costs through loyalty discounts and price reductions for upfront payments and going paperless.
However, consumers who prefer to conduct their business online may find themselves frustrated with the website’s lack of specific policy information, and interested shoppers may have to speak with an agent to find out additional information, such as plan terms and rates. In addition, not all policies offer an option for online quotes.
American Family Life Insurance Company Reviews: What People Are Saying
In online consumer reviews, satisfied customers often praise the company’s affordable plans and generous discounts, and some reviewers note a consistently positive experience with the company after doing business long term. However, several reviewers report less satisfaction with the claims process, noting issues receiving reimbursement.
Is an American Family Life Insurance Company Life Insurance Policy Right for You?
Consumers who want plenty of choices when selecting a life insurance policy may appreciate American Family Life Insurance Company’s broad selection of coverage. An American Family Life Insurance Company plan may also be ideal for consumers who are looking for an affordable, simplified issue plan that offers enough coverage to help loved ones with funeral and burial expenses.