Am Life Insurance Company is a subsidiary of American Financial Group that sells term and permanent life insurance directly to consumers

Am Life Insurance Company (also called American Life Insurance Company) operates as part of American Financial Group, a publicly traded insurance holding company. The company sells life insurance policies through direct channels — meaning you buy from them rather than through a broker — and focuses on term life and whole life products for individual customers.

The company has been in operation since the 1960s and holds licenses to sell insurance in most U.S. states. Like all life insurers, Am Life is regulated by your state's insurance commissioner, and your policy is backed by the company's reserves and the state's insurance may provide fund if the company were to fail (though this is rare).

Key Takeaways

  • Am Life Insurance Company sells term life and whole life policies directly to consumers without requiring a broker or agent.
  • The company is owned by American Financial Group, a large, established insurance holding company traded on public stock exchanges.
  • Your policy is protected by your state's insurance may provide fund, which covers claims if the company becomes insolvent.
  • You can request a quote online or by phone, and the underwriting process typically takes one to two weeks.
  • Rates depend on your age, health, smoking status, and the death benefit amount you choose.

How Am Life's term life and whole life policies differ

Term life insurance from Am Life covers you for a set period — typically 10, 20, or 30 years. If you die during that term, the company pays your beneficiary the death benefit you chose. If the term ends and you are still alive, the coverage stops and you receive nothing. Term policies are less expensive per month because the company is betting you will outlive the term.

Whole life insurance covers you for your entire life, as long as you pay the premiums. Part of each premium goes into a cash value account that grows over time. You can borrow against this cash value or surrender the policy to receive it. Whole life costs significantly more per month than term, but it never expires and builds a savings component.

Most people who need life insurance to cover a mortgage, student loans, or income replacement choose term. Whole life makes sense if you want permanent coverage and can afford the higher cost, or if you have estate planning needs that require a permanent death benefit.

What happens during the underwriting process

When you request a quote from Am Life, you provide basic information: age, health history, occupation, and smoking status. The company uses this to give you an estimate. If you decide to move forward, you enter formal underwriting.

During underwriting, Am Life will ask detailed health questions and may order a medical exam — usually a blood test and blood pressure check done at your home or a local clinic. The company uses this information to assess your risk and set your final rate. Underwriting typically takes one to two weeks, though it can be faster for younger, healthier applicants or slower if the company needs additional medical records.

Once approved, your policy becomes active on the date you pay the first premium. You can usually pay monthly, quarterly, or annually. If you miss a payment, most policies give you a grace period (usually 30 days) to catch up before coverage lapses.

How Am Life's rates are set and what affects your premium

Am Life, like all life insurers, sets rates based on actuarial tables — mathematical models of how long people in different groups tend to live. Your individual rate depends on factors the company can measure and verify:

  • Age: Younger applicants pay less because statistically they live longer. A 30-year-old pays far less than a 60-year-old for the same coverage.
  • Health history: High blood pressure, diabetes, cancer, or heart disease will increase your rate or, in some cases, result in a decline. Am Life will ask about past diagnoses, current medications, and family history.
  • Smoking status: Smokers pay roughly two to three times more than non-smokers. The company verifies this through the medical exam and may test for nicotine.
  • Death benefit amount: Larger death benefits cost more, but the per-dollar cost often decreases as the benefit increases.
  • Term length: A 20-year term costs less per month than a 30-year term for the same person, because the company's risk window is shorter.

Am Life does not adjust your rate after you are approved, as long as you keep paying premiums. Your rate is locked in for the life of the policy (or the term, for term insurance).

How to get a quote and what documents you will need

You can request a quote from Am Life through their website or by calling their customer service line. You will need to provide your date of birth, general health information, and the death benefit amount you are considering. The quote is free and does not require any commitment.

If you decide to explore, have these documents or information ready: a government-issued ID (driver's license or passport), your Social Security number, and details about any current medications or past medical conditions. If you have had a serious illness or surgery, have the dates and names of the treating doctors available — the company may request medical records.

You do not need a broker or agent to buy from Am Life. The entire process can happen online or over the phone. Some people prefer working with an independent insurance agent who can compare Am Life's rates to other companies, but this is optional and the agent's commission does not change your price.

What to do if your claim is denied or you have a complaint

If Am Life denies a death claim, the company must provide a written explanation of the reason. Common reasons for denial include a lapsed policy (premiums not paid), death during a contestability period (usually the first two years, for fraud or misstatement on the process), or death from an excluded cause (rare, and only if the policy specifically excludes it).

If you believe a claim was wrongly denied, you can file a complaint with your state's insurance commissioner. This office investigates disputes between insurers and policyholders at no cost to you. You can also hire an attorney to review the denial, though this is usually only worth doing for large death benefits.

If you have a complaint about Am Life's service, billing, or underwriting process, start by contacting the company's customer service department. If they do not resolve it, file a complaint with your state insurance commissioner. Most states have an online complaint form and a phone line.

How Am Life compares to other direct-to-consumer life insurers

Am Life competes with other companies that sell directly to consumers, such as Haven Life (owned by MassMutual), Ladder (owned by Ethos), and PolicyGenius (a broker that works with multiple insurers). The main differences are in underwriting speed, available products, and price.

Some direct insurers offer "no medical exam" policies that skip the blood test and rely only on health questions and prescription records — these approve faster but may cost more. Am Life requires a medical exam for most applicants, which takes longer but can result in lower rates for healthy people.

Price varies between companies for the same person, so getting quotes from multiple insurers is worth the time. A 35-year-old non-smoker in good health might pay $25 per month with one company and $35 with another for the same $500,000 term policy. The difference compounds over 20 or 30 years.

Frequently Asked Questions

Is Am Life Insurance Company a legitimate company?

Yes. Am Life is licensed by state insurance regulators and is owned by American Financial Group, a large, publicly traded company. You can verify the company's license status by searching your state insurance commissioner's website. Your death benefit is also protected by your state's insurance may provide fund, which covers claims up to a state-specific limit (usually $250,000 to $300,000) if the company fails.

Can I cancel my policy and get my money back?

Term life policies have no cash value, so canceling returns nothing. Whole life policies have a cash surrender value that grows over time — you can surrender the policy and receive this amount, but it is usually less than the premiums you paid in the early years. Most policies include a free look period (usually 10 to 30 days) during which you can cancel and receive a full refund of premiums paid.

What happens if I miss a premium payment?

Most Am Life policies include a grace period, typically 30 days, during which you can pay a missed premium without losing coverage. If you do not pay within the grace period, the policy lapses. You can usually reinstate it within a certain window (often one to three years) by paying back premiums plus interest, but you may need to pass underwriting again.

Can I increase my death benefit after I buy the policy?

This depends on the specific policy. Some Am Life policies allow you to increase your death benefit without another medical exam, up to a certain limit. Others require you to explore for a new policy or an amendment. Contact Am Life directly to ask about your options — increasing coverage is often cheaper than buying a separate policy later.

Do I need a medical exam to get a quote?

No. Getting a quote requires only basic health information and does not involve any exam or commitment. The medical exam happens only if you decide to formally explore for a policy.