Amica Life Insurance Review 2024

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Who Can Benefit From Amica Life Insurance?

Amica Life Insurance is a good option for anyone who wants to purchase customizable term life insurance quickly, online, and with as little hassle as possible. Most policies require a medical exam, but healthy individuals may be approved for an Amica term life policy without one.

The policies offer coverage ranging from $100,000 to $5 million, so they’re suited for a wide range of financial situations. The term life insurance policies are especially suitable for anyone who recently bought a house or is starting a family. The death benefit from these policies can ensure that your family has the money to pay for future expenses in the event of your passing.

Your premiums at Amica will never increase for the life of your policy. That ensures that you can plan out the cost of your policy many years into the future and feel confident that you won’t pay more for the same coverage due to aging or health changes.

Another unique benefit is that you have the option to convert your term life policy into a permanent life insurance policy. This can be helpful if you want to build cash value in your life insurance policy, but many other term life insurance policies don’t offer this conversion option.

All Amica term life policies come with a terminal illness rider. If you’re diagnosed with a terminal illness during the life of your policy, you can access some or all of the death benefit before you pass. However, there are no other riders available to add to your policy. As a result, Amica may not be suitable if you need a long-term care rider, for example.

Features

Amica term life insurance policies come with terms from 10 to 30 years and coverage of up to $5 million. All Amica term life policies include a terminal illness rider and the option to convert to a permanent life insurance policy.

Here’s a look at the main highlights:

• 10, 15, 20, 25, or 30-year terms available

• Customizable coverage from $100,000 to $5 million

• Premiums never increase 

• Option to convert to permanent life policy

• Terminal illness rider

• Healthy individuals may not need a medical exam

Application Process

You can get a quote and apply for an Amica term life policy online or over the phone.

To get an online quote, you’ll need to select your desired coverage and categorize your health on a scale from “fair” to “excellent.” You’ll also need to state whether you’ve ever used tobacco or nicotine and whether you have any significant medical concerns, such as diabetes or heart disease. Finally, you must provide your date of birth, address, and contact information.

You can view quotes for multiple policy terms and update your death benefit to see how it impacts your premiums. If you find a policy you like, you can complete your application online.

The online application takes about 10 minutes and asks for more details about your health, lifestyle, income, and financial situation. Questions cover whether you travel frequently, whether you currently have another life insurance policy, and whether you have any known medical conditions. I found the application pretty easy to complete.

After you submit your application, a Life Insurance Representative will get in touch within a few days to confirm your coverage and premium. You may also need to schedule a medical exam before your policy can take effect.

Policy Types and Terms

Amica offers a single term life insurance policy. You can choose a policy term of 10, 15, 20, 25, or 30 years and coverage ranging from $100,000 to $5 million. All policies come with a terminal illness rider, but there are no additional riders available.

• Available in all 50 states

• May require a medical exam

• Upper limit to apply is 75 term and 80 for whole life

This type of policy lasts for your entire life and can accumulate cash value. Amica also offers whole life insurance, but you cannot apply for these policies online.

How Safe Is It?

Amica Mutual Insurance has been in business since 1907. The company has an A+ rating with the Better Business Bureau and an A+ financial stability rating from A.M. Best. Amica also has a 4.5-star rating from Trustpilot after more than 2,800 customer reviews.

Amica uses Secure Sockets Layer (SSL) encryption to protect your online application information. In addition, Amica’s privacy policy states that the company will never sell your information to third parties.

Help and Support

Amica offers customer support by phone and email. Phone support is available from 8am-7pm (ET), Monday-Friday. I like that there are dedicated phone and chat channels for making a life insurance claim.

Amica has an online resource center with guides explaining how term life insurance works and how to determine the level of coverage you need. If you’re a current policyholder, there’s also an online portal where you can pay your premiums or your loved ones can start a claim.

Bottom Line

Amica Life Insurance offers term life insurance policies with up to $5 million in coverage. Every policy comes with a terminal illness rider and the option to convert to a permanent life insurance policy before the end of your term. Your premiums never increase over the life of your policy. 

It’s easy to apply for Amica term life insurance online, and healthy individuals may not need to undergo a medical exam. I also like that you can get a quote online in minutes and customize your term and coverage level.

Physical Address

Amica Life Insurance, 10 Amica Center Blvd, Lincoln, Rhode Island