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Amica Life Insurance Review


ConsumersAdvocate.org Rating: 5 / 5 (Excellent)
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For more than 100 years, Amica Mutual Insurance Company has provided insurance products to policyholders across the U.S. while maintaining a solid industry reputation for financial stability and customer satisfaction. Its subsidiary, Amica Life Insurance Company, has provided life insurance policies and annuity products since 1969. The Rhode Island-based company offers policies in all states and the District of Columbia
 
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Call: (844) 395-2871

How is Amica rated?

Breakdown

5.0/5
Company Stability
5.0/5
Reputation
5.0/5
Policies & Coverage

Overall Rating: 5 / 5 (Excellent)

Amica offers two types of life insurance policies: term and whole life. Both include level premiums and protection which guarantee that premiums will stay the same during the life (or term) of the policy and the coverage will never go down.

Although its policies are not as customizable and do not offer as many riders as other insurers, it does offer an automatic rider that provides coverage in the case of terminal illness.

The company’s website does a good job of providing basic information about its products, with a calculator that lets you determine how much life insurance you need, plus articles, videos and definitions for key life insurance concepts.

The company also has robust online services for filing claims and customer support available via chat, email and over the phone.

Financial Strength

Key Details

Underwriter
Amica Mutual Insurance Company
AM Best Financial Rating
A+

Company Stability - 5 / 5

Amica Mutual Insurance Company has been rated by A.M. Best as an A+ (Superior) company, the second highest rating, for 17 years in a row.
*The above information reflects the market share, premiums, and financial strength of the issuer of the Amica life insurance policies: Amica Mutual Insurance Company.

Reputation & Customer Experience

Customer Ratings

Trust Pilot Rating
4.6 out of 5
BBB Rating
A+
Date Collected
2022-02-04

Reputation - 5 / 5

Amica is an accredited company with an A+ rating from the BBB. It also carries an excellent 4.6 out of 5 score on Trustpilot. Since Amica is a large company that sells auto, home, and life insurance, online ratings and reviews are not separated into individual categories per product. Nonetheless, it’s a positive sign when a company this large still has positive ratings such as these.

Also noteworthy is the insurer’s response to both positive and negative online reviews. Trustpilot reports that the company replies to 100% of its negative reviews and typically does so in 24 hours or less. That type of commitment towards resolving customer complaints helps consumers have confidence in the company.

Amica Policies

Amica offers customers the following life insurance policies: Term, Whole Life.

Term Life Insurance

Maximum Death Benefit
$1,000,000
Available Terms
10 year
15 year
20 year
25 year
30 year

Key Term Policy Features

  • Terminal illness rider
  • Level Term Premiums

Key Whole Life Policy Features

  • Terminal illness rider

Whole Life

Maximum Age
80
Maximum Death Benefit
$1,000,000

Policies & Coverage - 5 / 5

Amica offers two types of life insurance: term and whole life. Term life insurance is available for 5, 10, 15, 25, and 30-year terms with a maximum death benefit of $1 million (or more in certain cases). Level premiums and protection mean that rates stay the same during the policy’s period and that, as long as premiums are being paid as established in the contract, the coverage amount will not decrease. Additionally, term life holders have the option to convert their policy to a permanent whole life one. In some cases, and depending on several factors including meeting specific underwriting criteria, policyholders might be able to bypass a medical exam.

For whole life insurance, Amica offers coverage between $25,000 and $1 million, with three payment option plans:
Whole Life 20 is available to individuals up to 80 years of age. Premium payments are completed at 20 years after the policy’s issuance and coverage is guaranteed for the remainder of the policyholder’s life.
Whole Life 65 also lasts a lifetime and premium payments are complete when the holder turns 65 years of age. This option is available for individuals who are 50 years old or younger.
Whole Life 100 offers the lowest whole life premiums. The lifetime coverage payments end at 100 years of age. Individuals up to 80 years old can apply.

Flexibility and Available Riders

Available Term Life Riders

  • Terminal, Chronic, and Critical illness Accelerated Benefit Riders

Flexibility & Available Riders - 4.6 / 5

Unlike other major life insurance providers, Amica only offers one rider for its term and whole life products. The rider, which is added at no extra cost, allows the insured to receive a portion of their death benefit if they are diagnosed with a terminal illness with a life expectancy of 12 months or less.

Additional Company Information

Homepage URL
https://www.amica.com
Company Phone
(800) 242-6422
Headquarters Address
100 Amica Way, Lincoln, RI, 02865
Year Founded
1907

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Our Partner
  • Offering term life policies from $100,000 to $5 million. Get a quote and apply online today
  • AM Best Rating: A+ (Superior)
  • Trusted by customers: rated ‘Excellent’ on Trustpilot (over 2,000 reviews)
  • Ability to take advantage of discounts on auto insurance when you secure life insurance with Amica
(844) 395-2871
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