Amica
Whereas Amica’s life insurance coverage lineup is proscribed, the corporate has a low criticism ratio amongst its clients.
on Nerdwallet
Monetary energy ranking
Distinctive
On-line buy
Sure
NAIC complaints
Fewer than anticipated
Insurance policies supplied
Time period & everlasting
on Nerdwallet
Amica
Whereas Amica’s life insurance coverage lineup is proscribed, the corporate has a low criticism ratio amongst its clients.
Monetary energy ranking
Distinctive
On-line buy
Sure
NAIC complaints
Fewer than anticipated
Insurance policies supplied
Time period & everlasting
How we overview life insurance coverage corporations
In our life insurance coverage critiques, our editorial crew considers the shopper and the insurer. These are a number of the components we take note of:
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Time period life insurance coverage provides short-term protection and a assured payout if the policyholder dies through the time period.
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Everlasting life insurance coverage sometimes lasts a lifetime and builds money worth that may be borrowed in opposition to sooner or later.
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No-exam life insurance coverage points protection with out the necessity for a medical examination.
Monetary energy. We use AM Greatest rankings to verify an insurer’s long-term monetary stability and skill to pay claims. For all times insurance coverage, NerdWallet sometimes recommends contemplating insurers with rankings of A- or greater. Right here’s the breakdown:
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Distinctive: A+, A++.
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Robust: A-, A.
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Average: B, B+.
Complaints. These rankings are based mostly on complaints to state regulators relative to an organization’s measurement, in response to three years’ price of information from the Nationwide Affiliation of Insurance coverage Commissioners. The greatest life insurance coverage corporations have fewer than the anticipated variety of complaints.
Purchase on-line. This means whether or not an insurer lets you apply for and purchase a coverage fully on-line.
Headquartered in Lincoln, Rhode Island, Amica sells time period and complete life insurance coverage nationwide. The corporate has a great repute with clients, although you may’t apply for protection on-line in all states.
Amica life insurance coverage
Amics earned 4.5 stars out of 5 for general efficiency. NerdWallet’s rankings are decided by our editorial crew. The scoring method takes under consideration shopper expertise, criticism information from the Nationwide Affiliation of Insurance coverage Commissioners and monetary energy rankings.
Amica life insurance coverage insurance policies
Time period life insurance coverage. Amica’s Stage Time period coverage offers protection lasting 10, 15, 20, 25 or 30 years. The corporate points time period life insurance coverage insurance policies price $100,000 to $5 million to individuals ages 18 to 75. You’ll have to fill out a well being and life-style questionnaire, and a few candidates may be capable to skip the medical examination based mostly on their solutions and protection quantity.
Complete life insurance coverage. Amica’s complete life insurance coverage insurance policies provide protection starting from $25,000 to $1 million or extra. You’ll be able to decide to repay your coverage in 20 years, or unfold your funds out till you attain age 65 or 100.
Further coverage options
In lots of states, Amica contains an accelerated dying profit rider with time period and complete life insurance policies for no additional cost. The rider prompts when you’re recognized with a terminal sickness.
You may as well file a declare to waive your premiums when you expertise a incapacity that stops you from working.
Amica buyer complaints and satisfaction
Over three years, Amica has drawn fewer than the anticipated variety of complaints to state regulators for a corporation of its measurement, in response to a NerdWallet evaluation of information from the Nationwide Affiliation of Insurance coverage Commissioners.
Extra about Amica
You may get a time period life insurance coverage quote on-line in all states besides Hawaii, and apply for protection on-line in all states besides Hawaii and New York. To get a quote or apply for complete life insurance coverage, you’ll want to talk to an agent.
Beneficiaries can file a life insurance coverage declare over the cellphone or on-line, and Amica provides entry to Empathy, an app to assist individuals navigate via loss and grief.
Life insurance coverage apart, Amica provides different forms of protection. Try NerdWallet’s critiques to study extra:
Methods to contact Amica
Amica’s life insurance coverage division could be reached by:
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Telephone: Name 800-234-5433 on weekdays from eight a.m. to 7 p.m. ET.
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E mail: Fill out a kind on Amica’s contact web page.
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Stay chat: Obtainable on weekdays from 6 a.m. to midnight ET and weekends from 7 a.m. to midnight ET.
Life insurance coverage shopping for information
When evaluating charges, ensure the quotes are for a similar quantity of protection over the identical time frame. It’s additionally vital to verify the coverage’s medical necessities match your wants. For instance, if you wish to skip the life insurance coverage medical examination however don’t thoughts answering well being questions, verify that the appliance course of for every coverage you are evaluating aligns with that.
Worth might not be the most important driver behind your choice to purchase. Have a look at the variety of shopper complaints every firm receives, as excessive numbers generally is a crimson flag concerning the high quality of service.
Life insurance coverage rankings methodology
NerdWallet’s life insurance coverage rankings are based mostly on shopper expertise, criticism index scores from the Nationwide Affiliation of Insurance coverage Commissioners for particular person life insurance coverage, and weighted averages of monetary energy rankings, which point out an organization’s potential to pay future claims. Inside the shopper expertise class, we think about ease of communication and web site transparency, which appears to be like on the depth of coverage particulars accessible on-line. To calculate every insurer’s ranking, we adjusted the scores to a curved 5-point scale.
These rankings are a information, however we encourage you to buy round and examine a number of insurance coverage quotes to seek out the perfect fee for you. NerdWallet doesn’t obtain compensation for any critiques. Learn our editorial tips.
Insurer complaints methodology
NerdWallet examined complaints obtained by state insurance coverage regulators and reported to the Nationwide Affiliation of Insurance coverage Commissioners in 2020-2022. To evaluate how insurers examine with each other, the NAIC calculates a criticism index annually for every subsidiary, measuring its share of complete complaints relative to its measurement, or share of complete premiums within the trade. To guage an organization’s criticism historical past, NerdWallet calculated the same index for every insurer, weighted by market shares of every subsidiary, over the three-year interval. NerdWallet conducts its information evaluation and reaches conclusions independently and with out the endorsement of the NAIC. Ratios are decided individually for auto, house (together with renters and rental) and life insurance coverage.
