Jeffrey Manola is an experienced life insurance agent and the founder of Top Quote Life Insurance. His mission when he created Top Quote Life Insurance was to provide online consumers searching for life insurance with the absolute best quotes for term life insurance, permanent life insurance, no medical exam life insurance, and burial insurance. Not only does he strive to provide you with the ...

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Written by Jeffrey Manola
Founder & Licensed Agent Jeffrey Manola

Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insur...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years Leslie Kasperowicz

UPDATED: Jun 30, 2022

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No medical exam, living benefits, a return of premium option and competitive rates are all really great reasons why you may want to consider American National Life Insurance Company (ANICO) for life insurance coverage.

If you’re in the early stages of shopping around for life insurance coverage then American National Life Insurance Company, also known as ANICO for short, should be one at the top of your list.

ANICO Life Insurance Company is just one of several great life insurance companies offered through Top Quote Life Insurance. We have put the following review together to help our online visitors with information regarding the insurance company as well as details pertaining to the different types of life insurance coverage they can offer you.

We hope you find our review on ANICO Life Insurance Company helpful in your search for great life insurance coverage. As always, please be sure to reach out to us with any questions.

Looking to compare life insurance prices? We can help. Enter your ZIP code to get free quotes from multiple insurers.

History of American Nation Insurance Company (ANICO)

When it comes to purchasing life insurance one important factor is the history of the insurance company. Knowing that a company has a long history within the insurance industry can provide peace of mind that they will be around at the time when they are needed most.
ANICO Company Logo

ANICO is one company that has a long history within the insurance industry. The insurance company dates back to 1905 and was originally founded by William L. Moody, an American financier, and entrepreneur from Galveston Texas.

The insurance company began with just 10 employees, a small 500 square foot office, $100,000 of capital and a $20,000 surplus.

Fast-forward to over a century later, surviving wars, great depressions, and economic turbulence, ANICO has not only been able to provide for its customers but also grow from a small insurance carrier into a massive multi-billion dollar company that is a leader within the insurance industry today.

Present Time

Today, ANICO is still headquartered in both the same city and state the company was founded in, Galveston, Texas. In addition to life insurance coverage, the insurance company also offers health insurance, home insurance, auto insurance, business insurance as well as annuities.

ANICO currently operates in all 50 states including Puerto Rico. New York business is conducted under American National Life Insurance Company of New York who is a wholly-owned subsidiary of ANCIO. Other home offices include League City, Texas, Springfield, Missouri, and Glenmont, New York.

Throughout the insurance company, there are more than 4,000 employees that work to make ANICO the success that it is.

Towards the end of 2017, ANICO reached a milestone announcing that they surpassed more than $100 billion in active inforce life insurance. The insurance company has also provided services to more than 5 million policyholders in the course of 112 years. Currently, there are over 2 million policyholders that have their life insurance coverage with ANICO.

It is also important to note that 2018 marked the 108th consecutive year that ANICO has paid out dividends to its stockholders.

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ANICO Life Insurance Reviews

Among several company awards and recognition’s, one of their biggest came in 2017 when ANICO was named to Forbes “America’s Most Trustworthy Financial Companies“. The companies that have made this list are chosen based on their accounting and governing practices.

This means that ANICO as a company scored excellent in being both honest and transparent in their accounting naming them 1 out of 50 of the most trustworthy companies.

ANICO Company Ratings

As we mentioned earlier, one important factor in any great life insurance company is its long history within the insurance industry. Another factor that is just as important as history is the company’s ratings and customer reviews.

ANICO has received some of the highest ratings available from the insurance industries’ professional rating services. It’s also important to mention that they have consistently received a rating of (A) or higher from A.M. Best for the last 75 years.

A.M. Best ratings are a very helpful indicator of measuring life insurance companies’ financial strength and ability to pay claims to their policyholders. The rating system is based on letter grades with (A++) being the best, or also considered “secured” and (S) being the lowest or meaning, “rating suspended”.

  • A.M. Best: A
  • Standard & Poor’s: A

ANICO Online Website

In recent years ANICO has updated its online website making it much more customer-friendly and easier to navigate.

The website has a clean look and provides plenty of information pertaining to the different insurance products offered by the insurance company.

If you do purchase an ANICO insurance policy you will have the ability to create a customer login account that allows you to manage your policy.

There is also a helpful claims tab on the company’s website that provides toll-free numbers for the claims departments for each of their different insurance departments.

ANICO Life Insurance Coverage Options

ANICO offers a wide selection of different types of life insurance coverage options. However, what puts ANICO at the top of our list is the variety of unique features that are not typically offered with other insurance carriers.

Below is a list of the different types of ANICO life insurance coverage options that we will be reviewing.

  • Term Life Insurance
  • Universal Life Insurance
  • Indexed Universal Life Insurance
  • Whole Life Insurance

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ANICO Signature Term

Level Premium: Similar to any traditional term life insurance coverage, Signature Term offers a 10, 15, 20 and 30 level premium contract options. This means that your rate will be locked in for the entire duration of the contract chosen.

No Exam Option: Looking or something that doesn’t require a medical exam? Signature Term is available with the option to apply without having to take a medical exam. This option is available to applicants below the age of 64 that only need $250,000 or less of life insurance coverage. The best health class for this coverage is standard rates. This means you cannot qualify for Preferred rates, but you get the benefit of skipping the exam if desired.

Living Benefits: One of the greatest features of ANICO’s Signature Term is the built-in living benefit riders. These riders come free and can pay out a cash benefit if you become diagnosed with a qualifying terminal illness, chronic illness or critical illness. Best of all, it’s free.

Conversion: If coverage needs change in later years that require permanent life insurance coverage, Signature Term offers a conversion feature. The conversion feature allows for your term life insurance policy to be switched to permanent life insurance without any evidence of insurability. You will also be awarded with conversion credits that will go towards the premium if you choose to convert your term policy prior to the 5th policy anniversary.

Issue Ages:

10 Year – Ages 18-70
15 Year – Ages 18-65
20 Year – Ages 18-60
30 Year – Ages 18-50

Minimum Death Benefit:


Maximum Death Benefit:


Optional Policy Riders:

  • Disability Waiver of Premium
  • Children’s Term Rider


ANICO Signature Guaranteed Universal Life

Permanent Protection: ANICO’s Signature Guaranteed Universal Life (GUL) is its affordable permanent life insurance coverage. This coverage offers a guaranteed death benefit as well as a premium that will be locked in until age 121.

Since this coverage is considered universal life insurance, it does have the ability to earn cash values, but in most cases, it will not. The main focus of this coverage is to provide permanent life insurance protection at a low cost. If cash values are a concern, you will want to skip to either ANICO’s indexed universal life or whole life insurance.

Living Benefits: Same as the term insurance option, this coverage also comes with the same free accelerated benefit riders that can pay out a cash benefit from a qualifying terminal, chronic or critical illness.

Guaranteed Cash-Out Rider: This is another feature that really makes ANICO stand out from the other available universal life insurance options. The Guaranteed Cash-Out Rider is a free rider built into the life insurance policy that allows for you to surrender your policy for a full return of premium.

This rider only becomes available in policy years 15, 20 and 25. If you decide you no longer need life insurance coverage you can surrender your policy for up to a full return of paid premiums.

Issue Ages:


Minimum Death Benefit:


Maximum Death Benefit:


Optional Policy Riders

  • Disability Waiver of Premium
  • Children’s Term Rider


ANICO Signature Indexed Universal Life

Flexibility: One of the best features of any indexed universal insurance plan is the flexibility it allows you to have with the life insurance coverage. When we speak of flexibility, indexed universal life insurance allows you to adjust your premium payments, as well as how your cash values are grown.

Cash Value Growth: ANICO’s Signature Indexed Universal Life has the potential to earn tax-deferred cash growth by utilizing two interest-crediting methods. These methods are based on a fixed interest amount of 2.5% as well as an indexed credit amount that can fluctuate based on the historic values of the market.

S&P 500 Index: Indexed universal life insurance has become an increasingly popular type of life insurance due to its ability to earn higher cash values. Cash values based around the performance of popular market indexes. ANICO utilizes the historic performance of the S&P 500 to determine the interest rates for the indexed crediting method of life insurance coverage.

4 Crediting Strategies: With ANICO’s Signature IUL, you have options. This coverage allows you to choose one of four different indexed crediting strategies.

  • Point to Point with Cap
  • Point to Point with Cap and Higher Floor
  • Point to Point with Specified Rate
  • Point to Point Uncapped with Interest Rate Spread

0% Floor: As with most IUL coverage options, this coverage also has a 0% floor that can protect your cash values should the index market perform poorly.

Issue Ages:


Minimum Death Benefit:


Maximum Death Benefit:


Optional Policy Riders

  • Chronic, Critical and Terminal Illness (INCLUDED)
  • Overloan Protection Benefit (INCLUDED)
  • ANICO Signature Term Rider for UL
  • Disability Waiver of Minimum Premium
  • Disability Waiver of Stipulated Premium
  • Children’s Term Rider
  • Guaranteed Increase Option Rider


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ANICO Signature Whole Life

Guarantees: Whole life insurance is one of the more popular forms of permanent life insurance coverage. Similar to guaranteed universal life insurance policy, ANICO’s Signature Whole Life can offer a guaranteed fixed premium, cash value growth as well as death benefit protection.

Coverage is guaranteed to remain active for the life of the insured up to age 121. Cash values grow based on the fixed interest rate in addition to potential dividends.

Dividends: One of the best benefits to Signature Whole Life is the ability to receive dividends. ANICO offers 4 different dividend options to choose from:

  • Cash
  • Premium Reduction
  • Dividend Accumulation
  • Paid-up Additions

Issue Ages:


Minimum Death Benefit:


Maximum Death Benefit:


Optional Policy Riders

  • Chronic, Critical and Terminal Illness (INCLUDED)
  • Children’s Term Rider
  • ANICO Signature Term Rider
  • Disability Premium Waiver
  • Paid-up Additions Rider
  • Guaranteed Insurance Option Rider


ANICO Accelerated Underwriting (Xpress Plus)

Xpress is an accelerated underwriting program that can significantly reduce standard approval times by eliminating the medical exam when applying for coverage.

This program should not be confused with the no medical exam option on ANICO’s Signature Term Insurance as they are different.

Yes, they both can allow for no medical exam underwriting however, with Xpress Plus you can be required to take an exam if you do not meet the parameters for underwriting.

Qualification for Xpress Plus underwriting is determined based on answers to the application questions as well as results from MIB, RX and a Risk Classifier. The Risk Classifier utilizes characteristics derived from public records, driving history and credit history.

If for some reason you do not qualify for Xpress Plus accelerated underwriting you will be notified and provided with the opportunity to go through full underwriting.

Who can apply for Xpress Plus Accelerated Underwriting?

Issue Ages:


Death Benefit Amounts:

  • Ages 18-50 ($250,001 – $1,000,000)
  • Ages 51-60 ($250,001 – $500,000)

Final Thoughts on American National (ANICO)

ANICO has been providing quality products to its customers for over a hundred years. The company has continued to grow based on the founder’s visions, goals, and principles of reinvesting in the company.

They have millions of customers located throughout the U.S. and excellent customer service with very low complaints.

With that said, ANICO is a company we recommend as well as provide to our clients if it is a good fit.

When it comes to shopping for life insurance coverage we always recommend talking with an experienced life insurance agent or agency.

Whether choosing to work with Top Quote Life Insurance or another party, be sure they can offer you multiple options. For example, Top Quote Life Insurance is independent and works the over two-dozen top (A) rated life insurance providers.

This allows us to offer our clients a variety of life insurance options ensuring that we fit them with the perfect coverage that meets their insurance goals while doing it at the most affordable price.

We hope you enjoyed our ANICO life insurance review and please be sure to contact us if you have questions or need any assistance on finding great life insurance coverage.

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