American National Life Insurance Review

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Edited byKathryn Schroeder
Edited byKathryn Schroeder

Updated: May 22, 2024

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MoneyGeek’s Take: Is American National Right for You?

Because it offers a variety of policy types, including term life insurance, universal and whole life insurance, American National Life Insurance is a wonderful fit for a range of individuals. The company also provides a variety of riders to its policyholders, particularly those with universal life insurance. You might be able to access some of the cash value accumulated through a universal life insurance plan and certain whole life insurance plans and acquire a loan.

Given its lack of senior-specific and final expense policy options, American National Life Insurance may not be the best option for people searching for final expense insurance or for seniors. It may be best to choose State Farm if you are a senior. And choosing Haven Life could be the best option if you are specific about needing final expense insurance.

At a Glance: American National Life Insurance

American National Insurance Company



Multiple insurance types


May pay dividends


Offers term and permanent life insurance policies


Available in all 50 states and D.C.



No final expense insurance offered


American National is a group of businesses offering a wide range of insurance products and services nationwide. Formed in 1905, American National Insurance Company has its headquarters in Galveston, Texas. Several companies underwrite its life insurance products. American National had a complaint index of 1.30 in 2022, which is higher than the industry average, as per the statistics from the National Association of Insurance Commissioners (NAIC).

The company also sells other products, including health insurance, auto insurance, home insurance, renters insurance, recreational insurance and business insurance. In terms of life insurance, the company offers both term insurance and permanent insurance policies. The term insurance policies are ideal for those seeking insurance for a specific amount of time.

With flexible premiums, terms, payout amounts and cash value, its universal life insurance policies can be appealing to a range of people. The policies also allow borrowing against a portion of the accumulated cash value. There is also the option to borrow against cash value through American National’s Whole Life policies, and they come with a fixed premium and death benefit.

American National offers the following life insurance policies:

  • Five-Year Renewable Convertible Term to Age 70
  • Life Paid-Up at 90
  • Life Paid-Up at 95
  • Signature Whole Life
  • Graded Benefit Life
  • 20 Pay Life
  • Signature Guaranteed Universal Life
  • Executive Universal Life
  • Signature Performance Indexed Universal Life
  • Signature Protection Indexed Universal Life
Key Takeaways

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American National offers term and permanent life insurance plans in all 50 states and the District of Columbia.

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Its universal life insurance products have flexible premiums and an adjustable payout amount (death benefit), as well as a guaranteed cash value, the ability to borrow against a portion of the cash value and optional riders.

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Policyholders can convert term insurance to permanent insurance, such as whole life or universal life.

American National Policy Options Explained

In the aftermath of the COVID-19 pandemic, 31% of American individuals are motivated to get life insurance, and 44% would experience financial difficulty within six months in the absence of life insurance as per the 2022 Insurance Barometer Study conducted by the Life Insurance Marketing and Research Association (LIMRA). Learn more about the various policies from American National so you can choose the one that is most suitable for your family.

Term Life Insurance Options From American National

Not everyone requires lifetime protection. For a number of policyholders who may not have significant financial responsibilities in the future, short-term or limited-term life insurance may be preferable. American National offers term life insurance for such consumers.

With American National's term life insurance, your insurance premium remains the same for the duration of the term in return for a predetermined level of coverage. The cost is often cheaper than permanent life insurance.

Also, a term insurance policy facilitates the choice of the term that best meets your requirements. With the level premium payments, you know exactly how much to budget for insurance each month. You may also tailor your coverage using riders, such as the accelerated death benefit (living benefits) rider. Individuals who wish to change their term insurance to permanent insurance may do so.

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    Five-Year Renewable Convertible Term to Age 70

    This term life insurance policy has a fixed premium for the first five years, which renews for a level premium every five years, all the way up to age 65. After the five-year term beyond the age of 65, the policy renews for a fixed premium until the age of 70, when the policy expires. Conversion to a permanent policy is possible before the conversion expiry date, which is the policy anniversary after the 65th birthday of the insured.

Customers of all ages can benefit from purchasing term life insurance. But younger purchasers, those who have just started families or those who have recently gotten a mortgage have the most advantage. Given its lower cost in comparison to other types of plans, term life insurance may be more affordable for persons juggling many financial obligations.

Whole Life Insurance Options From American National

Long-term financial products, such as whole life insurance, are a reliable approach to ensuring the financial security of your loved ones after your death. If you purchase a whole life insurance policy from American National and maintain timely premium payments, your beneficiaries are guaranteed the death benefit.

Whole life insurance from American National has a fixed premium. The buildup of a cash value distinguishes term life insurance plans from whole life insurance. Cash value grows over time, and depending on the policy regulations, you may be able to borrow against it. Also, the death benefit is fixed, allowing you to pick the sum to leave to loved ones.

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    Life Paid-Up at 90

    The face amount of the insurance will be paid tax-free to the beneficiary upon the insured's death if there are no outstanding loans against it and premiums have been paid, according to the policy's terms. Also, the coverage offers 90-year guaranteed level premiums. By making regular premium payments, the cash value will increase tax-deferred and at a fixed rate, and it will be accessible for borrowing in case of a financial emergency or another need.

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    Life Paid-Up at 95

    At the policyholder’s death, their beneficiary will receive the guaranteed death benefit tax-free if there are no outstanding loans and premiums have been paid as specified under the policy. The coverage has guaranteed level premiums that are payable until age 95. There is also a guaranteed cash value, which grows at a fixed rate, without incurring taxes, through regular premium payments; you may be allowed to borrow against it.

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    Signature Whole Life

    Guaranteed death benefit, guaranteed cash value and level premiums are all features of this life insurance. Also, it gives you a chance to get dividends on your policy. Also, you have the option to add paid-up participating whole life insurance riders at the time of your application or for a certain period of time by making fixed monthly payments.

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    Graded Benefit Life

    This insurance with level premiums is available to those between the ages of 45 and 80 who cannot qualify for regular or rated insurance, with no underwriting criteria. The death benefit for the first two years is equivalent to 110% of the due and paid premium, and it is equivalent to the face value of the policy as of the third policy year. Also, there is full compensation for accidental deaths that occur in the first two years.

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    20 Pay Life

    This whole life insurance provides permanent protection for the insured's lifetime and is paid in full after 20 years of level premiums. As long as there are no outstanding premiums due or loans, as stipulated in the policy, your beneficiaries will be guaranteed the death benefit. By making regular premium payments, the cash value will increase tax-deferred and at a predetermined rate, and you may be allowed to borrow against a portion of the cash value in case of emergencies or other necessities.

Whole life insurance is a long-term solution for the financial security of your loved ones. The death benefit will be given to the beneficiary as long as premiums are paid. Whole life insurance plans include a cash value component that grows over time. American National’s Signature Whole Life insurance may pay out dividends. Buyers who would gain the most from this include those with long-term dependents or major financial obligations.

Universal Life Insurance Options From American National

Universal life insurance from American National is a permanent life insurance coverage. Yet, universal life provides the policyholder with far more freedom in terms of premium payments and coverage levels. Furthermore, it offers cash value that is interest-rate sensitive. You get flexible premiums, flexible death benefits and loan access against the policy's cash value, but any unpaid policy debts will lower the death benefit. You can also customize your policy with optional riders, such as accelerated death benefits (living benefits), disability waivers of minimum premium and children’s level term riders.

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    Signature Guaranteed Universal Life

    This policy type offers guaranteed lifetime death benefit protection up to the age of 95 or 105, as well as three guaranteed periods during which the insured can cash out their policy. You can get back some or all of your premium payments if you surrender your policy within 60 days of its 15th, 20th or 25th anniversary, thanks to its guaranteed cash-out rider.

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    Executive Universal Life

    This is a flexible-premium cash accumulation universal life insurance policy. Several choices for death benefits are available to accommodate your financial objectives. There are also accessible riders with specific benefits to meet your insurance needs.

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    Signature Performance Indexed Universal Life

    This policy type offers flexible premium universal life insurance with options for fixed and indexed crediting. It also has a death benefit and the possibility to accumulate cash value. Moreover, riders with certain benefits are available to meet your insurance requirements.

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    Signature Protection Indexed Universal Life

    Clients can choose the face amount and a guaranteed period between the ages of 80 and 121 with this policy. Also, four optional riders with tailored benefits are offered to match your insurance requirements and multiple indexed strategies to maximize cash value accumulation.

Universal life insurance could be the ideal choice if you want permanent protection but also anticipate your insurance needs to evolve over time. These products may be intriguing to investors that place a high value on policy flexibility and large growth in cash value if used properly.


American National Life Insurance Riders

A life insurance rider is an optional coverage that you can add to your policy, usually for a fee. It can modify your individual insurance requirements. The following riders are available for American National's life insurance policies.


Accelerated Death Benefits

Otherwise called living benefits, a percentage of a person's death benefit can be
accessed while they are still alive under specific circumstances. These
circumstances include having a terminal, critical or chronic disease.

Disability Waivers of Minimum Premium

This exempts the policyholder from paying the necessary premiums in the event of a
permanent disability.

Children’s Level Term Rider

Children's level term riders provide coverage for your children up to a specified age or
as per the rider’s terms and conditions.

Guaranteed Cash-Out Rider

It's not uncommon for a person's need for life insurance to shift over the years. If you
have American National’s guaranteed cash-out rider and decide you no longer need
insurance, you can get your money back by surrendering the policy.

How to Get American National Life Insurance

After learning about the company's insurance options, the next step is understanding how to purchase a policy. In the event that American National decides not to accept your application, it might be wise to have some alternatives in place. We will discuss both situations in this section.

How to Buy Life Insurance From American National

Do Your Research

Learning about the many choices for life insurance is a good first step. If you're interested in learning more about your options, you can consult an American National agent or use the company's online resources.

Compare Quotes

Even if you think you've discovered a policy that satisfies your insurance needs, it's a good idea to look around and see what else is available. Factors like your age, gender, overall health, lifestyle habits and medical history can greatly affect the premium you pay. The best course of action may be to look at multiple options if the one you are considering is too expensive, as another may be more budget-friendly.

Health Check

Finally, you need to fill out an application, and it may also be necessary to undergo a medical examination and pass it. The medical examination generally involves both a physical exam and a phone interview. In order to assess the risk of your profile, an underwriter could ask you for extra details.


Your insurance policy will be issued by American National if and only if your application is accepted. For further inquiries, it is best to contact your insurance agent or broker.

What to Do if American National Denies You Coverage

Contact Your Agent

Contacting your agent or the company's representative and requesting information is a helpful technique for learning more about what occurred to cause a denial.

Lifestyle Changes

If a lifestyle habit like smoking or a negative medical test results in your rejection, make adjustments to your lifestyle to improve your health. If you accomplish that, your application could eventually get approved, and you might even obtain a more desirable rate.

Explore Other Options

Lastly, consider other insurance options, particularly ones that don't need a physical examination, if that is why you were denied coverage. However, this might necessitate you to choose a plan with a lower coverage amount or a higher monthly payment.

Frequently Asked Questions About American National Life Insurance

MoneyGeek discusses the most popular questions concerning American National Life Insurance products.

Can you borrow from your American National life insurance policy?
What’s the maximum amount of life insurance coverage available from American National?
Do life insurance policies from American National pay dividends?
Can you get life insurance from American National if you have cancer?
Do life insurance policies from American National cover death by drug overdose?
Do life insurance policies from American National cover death by suicide?