Ameritas Life Insurance
A.M. Best: A
S&P Global: A+
Ameritas Life insurance company has been around since 1887. Today the company has over 25 billion dollars in total assets that they manage with 3.8 million customers.
They have 2.6 billion dollars in policyholder benefits and have generated 2.2 billion dollars in total revenue.
They have received strong financial ratings.
Table of Contents:
- Ameritas Term Life Insurance Options
- Term Life Insurance Riders
- Ameritas Permanent Life Insurance Options
- Pros & Cons of Ameritas
Ameritas Term Life Insurance Options
With these company term policies, you can get a higher benefit at a lower cost compared to permanent policies.
Ameritas Value Plus Term for Families
The Value Plus term life insurance policy for families helps to protect those you love.
It can be a critical part of your financial plan to help pay off any mortgage or home-related expenses, to pay for estate taxes, to provide money for college education for your children, to leave your inheritance to your children, to replace lost income, and a cover any final expenses.
Buying this life insurance plan is an economical choice for a family especially during critical growing years when income might be lower but at the same time your financial needs for insurance might be higher.
You can purchase this coverage for yourself and your spouse under one policy and your policy fees are cut in half which can make the entire plan much more affordable for younger couples. Contingent upon your circumstances you can choose the coverage to last anywhere between 1 and 30 years and your policy premiums will stay the same for that term.
At the end of the term, you have a conversion opportunity where you can convert the term policy into a permanent policy without undergoing any other medical exams. If you want to increase the coverage amount you have or add a benefit, then you might have to undergo a medical exam, however.
Ameritas Value Plus Term for Business Owners
As a business owner, this policy provides money to pay off business debt. You can set up a buy-sell agreement to Define how you want your business to be transferred upon your death or the death of a business partner.
These policies can also provide immediate resources to a business when an estate needs to be liquefied with the least amount of difficulty.
The coverage you want for your business can last between 1 and 30 years and your premiums will stay the same throughout the duration of that time.
Term Life Insurance Policy Riders
There are coverage enhancements from which to choose if you want to extend coverage beyond a death benefit:
- Accidental death benefit for your family and beneficiaries in the event that your death is an accident.
- Children’s Insurance allows you to add $25,000 for term life insurance coverage for each of your children and when they turn 18 they can convert that to permanent insurance if they want.
- Terminal illness allows you to receive an advanced portion of your death benefit to cover any financial needs if you are diagnosed with a terminal illness.
- Waiver of premium allows you to waive the payment of any premiums if you become disabled.
Ameritas Permanent Life Insurance Policy Options
Index Universal Life
The index universal life insurance policy provides a death benefit and has the potential to build cash value over time. the cash value is linked to the performance of an equity index or the S&P 500 Index.
You can enjoy cash value accumulation, but you are not directly investing in those equities which mean that you get downside protection. If a market loss takes place you will still earn a minimum guaranteed interest rate without losing everything.
This plan gives you protection but also the flexibility to make any changes. You can enjoy a flexible death benefit alongside the ability to build cash value.
Universal life provides permanent protection and has no end date. As long as the policy has a cash surrender value of at least $1 the policy remains fully in effect.
You can use the cash value of the policy to pay for things like college or your children, to supplement your retirement income, or to cover other financial needs. The cash value for this Universal policy is tax-deferred and based on your premiums.
There is flexibility in how and when you pay premiums. If money is tight you can decrease the policies cash value and pay less in your premiums, and vice versa. You can customize the policy whenever there are changes to your financial situation.
A universal life insurance plan is a good option for people who want protection to last as long as they need, cash value which is based on the life insurance company’s general account performance, and who want premium and death benefits flexibility. Again, this policy can be easily adjusted after it has been issued.
The whole life insurance policy has a guaranteed death benefit that does not decrease and the premium which is guaranteed to not increase. The cash value associated with this permanent plan earns a guaranteed interest rate, so you get a solid Financial Foundation.
This provides permanent lifetime protection and as long as premiums are paid, beneficiaries receive all the money they need and typically speaking will not owe any income taxes on that money. These policies grow tax-deferred guaranteed interest rate value, so you can accumulate more money along the way.
You can take out some of this cash value to supplement retirement income, pay for college for your children, or pay off other debts as needed knowing that this could reduce the total amount of your death benefit.
It is not guaranteed but your whole life insurance policy can receive annual dividends which increase your policy death benefit or reduce the number of premiums you pay, depending on which you choose. You get to choose because of the custom coverage options provided by this policy.
The whole life insurance policy is a good fit for people who can commit to paying level premiums on a regular basis and want strong, lifetime protection which grows cash value at a conservative rate.
Variable Universal Life
The variable universal life insurance policy has great accumulation potential. It provides a death benefit for family members, business partners, or other beneficiaries in the event that you pass away prematurely.
With this life insurance policy, your beneficiaries receive the money without delay and typically tax-free. There is a portion of your premium payment taken regularly and invested in an investment option of your choosing. The portfolios are managed by different individuals and companies within the mutual fund industry.
You can choose any combination or number of investment options and choose the level of risk tolerance you want. With the variable universal life insurance, you can use these investment options as sophisticated Financial tools so that you can meet other goals.
Understand that with these investment opportunities there is a higher rate of risk. You have the option of building more cash value which you can take out of your policy and off of your death benefit, but you also stand to lose more.
Pros & Cons of Ameritas
- financially stable
- wide array of options
- limited customer support
- challenging claims process
Is Ameritas a good life insurance company?
- Ameritas has received an A rating from A.M. Best, and A1 from Moody’s and an A+ from S&P Global.
How long has Ameritas been in business?
- Ameritas has been around since 1887 originally known as Old Line Bankers Life Insurance Company of Nebraska.