Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, policy cost, underwriting criteria, the insurer’s financial strength ratings, and complaint data.
Americo final expense insurance is not the least expensive option, but they are still a good one to consider.
In many situations, Americo is the best option for people with specific health issues.
Learn how their coverage works, the cost, pros & cons, and when their policy is a good buy.
How Does Americo Final Expense Insurance Work?
Americo final expense insurance, aka burial, funeral, or end-of-life insurance, is a small face value whole life insurance policy that does not require a medical exam.
In most cases, you only need to answer basic health questions and give permission to Americo to check your medication history.
When you die, Americo will pay out the death benefit as a tax-free check directly to your beneficiaries (or funeral him if you prefer).
There are no restrictions on how they spend the money. They don’t have to use it only for funeral costs.
They can use the money for outstanding credit card debts or medical or legal bills.
They are entitled to keep any unused funds.
Americo burial insurance plans have two options to choose from:
- Eagle Premier: This is the least costly plan. To qualify, you must answer health questions. If approved, there is no waiting period.
- Eagle Premier Guaranteed: This is a guaranteed acceptance policy that does require you to fill out a health questionnaire. Because your acceptance is guaranteed, there is a two-year waiting period. Death during the waiting period will result in Americo refunding 110% of your premiums. Also, it’s about 100-150% more expensive than the Eagle Premier option.
Americo products are only sold through licensed brokers. If you call the company directly, they cannot help you.
| Coverage Details | Eagle Premier | Eagle Premier Guaranteed |
|---|---|---|
| Policy Type | Whole Life Insurance | |
| Policy Duration | Lifetime | |
| Fixed Premiums | Yes | |
| Builds Cash Value | Yes | |
| State Availability | All states except NY & VT | |
| New Applicant Age Range | 40-85 | 50-80 |
| Coverage Options | $2,000-$40,000 | $5,000-$10,000 |
| Free Built In Riders | Terminal illness & Accidental Death (2X the payout for accidental death) | None |
| Optional Riders | None | |
| Where to Apply | Agencies licensed to sell Americo Life products (you can't buy this plan directly from them) | |
| Phone Number to Apply | 1-800-644-2926 | |
| Medical Exam Required | No | |
| Health Questions | Yes | No |
| 2-Year Waiting Period | No (subject to underwriting approval) | Yes |
| Application Approval Time | 3-5 Minutes | |
| Brochure | Americo Final Expense Brochure | |
| Sample Application | Americo Final Expense Application | |
How Much Does Americo Burial Life Insurance Cost?
The cost of Americo funeral insurance is based on your exact age, gender, state of residence, health, and the amount of coverage you select.
That said, the table below has some sample funeral insurance quotes from Americo.
All prices shown are monthly for $10,000 in coverage.
| Age | Eagle Premier | Eagle Premier Guaranteed |
|---|---|---|
| 40 | F: $29.95 M: $33.62 | N/A |
| 45 | F: $32.24 M: $37.37 | N/A |
| 50 | F: $34.08 M: $39.97 | F: $73.55 M: $94.77 |
| 55 | F: $37.89 M: $46.47 | F: $87.75 M: $113.30 |
| 60 | F: $41.34 M: $52.16 | F: $101.95 M: $131.82 |
| 65 | F: $52.83 M: $65.40 | F: $122.09 M: $158.09 |
| 70 | F: $65.60 M: $86.49 | F: $157.39 M: $220.83 |
| 75 | F: $86.89 M: $118.09 | F: $215.31 M: $302.66 |
| 80 | F: $135.12 M: $172.93 | F: $224.81 M: $312.16 |
| 85 | F: $196.69 M: $235.58 | N/A |
Pros & Cons Of Americo Final Expense Life Insurance
- No waiting period option
- There is no medical exam to qualify
- Available in nearly all states
- Permanent coverage with premiums that will never increase
- Doubles the death benefit payout for accidental death (no extra cost for this)
- Very fast approvals
- Underwriting that offers no waiting period coverage to people with very high-risk conditions
- Guaranteed acceptance option
- Prices are higher than most final expense companies
- The guaranteed issue option is limited to $10K and is very expensive
- Tobacco users should avoid Americo due to their strange tobacco policy
- Cannot pay quarterly or semi-annually
Is Americo Funeral Insurance Worth Buying?
Americo final expense insurance is generally only worthwhile if you have certain health issues that make them a superior choice.
For otherwise healthy people, companies like Mutual of Omaha or Aetna offer lower rates for their senior final expense coverage.
Where Americo really shines is when you’ve had a recent heart attack, stroke, heart surgery, or have conditions like Parkinson’s or Lupus.
In those circumstances, they are a superior choice.
Their guaranteed issue option should be avoided because it’s too overpriced.
If you want guaranteed acceptance coverage, many other companies offer the same thing for a much lower premium.
Below is a list of common conditions where you’d still be eligible for no waiting period coverage with Americo.
Common conditions still eligible for no waiting period coverage: Afib Aneurysm Arthritis Asthma Bipolar disorder Blindness Blood clots Blood thinners Cancer > 2 years ago Circulatory surgery > 1 year ago Crohn’s disease Depression Diabetes (type 1 or 2) Diabetic amputation > 2 years ago Diverticulitis Epilepsy Fibromyalgia Grave’s disease Heart attack > 1 year ago Heart surgery > 1 year ago High blood pressure High cholesterol Insulin shock > 2 years ago Lupus Multiple sclerosis Pacemaker (installed > 1 year ago) Parkinson’s disease Schizophrenia Scleroderma Seizures Sickle cell anemia Sleep apnea Squamous/basal cell skin cancer Stroke/TIA > 1 year ago Tumors (non-cancerous) |
Americo Company Background
Americo has been in business since 1909 and has an A (Excellent) rating with A.M. Best.
They offer a suite of life insurance products, including term, whole life, and funeral life insurance.
Americo is a privately held company that has various subsidiaries, which include:
- Americo Financial Life and Annuity Insurance Company (formerly known as The College Life Insurance Company)
- Great Southern Life Insurance Company
- United Fidelity Life Insurance Company, National Farmers Union Life Insurance Company, and Investors Life Insurance Company of North America
Their contact information is below:
- Website: www.americo.com
- Phone: 1-800-231-0801
- Mailing address: PO Box 410288 Kansas City, MO 64141-0288
Americo earned 3.5 stars out of 5 for overall performance. Choice Mutual’s ratings are determined by our editorial team. The scoring formula considers consumer experience, complaint data from the National Association of Insurance Commissioners, and financial strength ratings.
Learn about our rating methodology.
Choice Mutual often cites third-party websites to provide context and verification for specific claims made in our work. We only link to authoritative websites that are known to provide accurate information. You can learn more about our editorial standards, which guides our mission of delivering factual and impartial content.
- Americo. https://www.americo.com/who-we-are/
