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MoneyGeek’s Take: Is Ameritas Right for You?

Ameritas is a good insurer for most buyers as it offers most of the basic types of life insurance policies, including term life, whole life and universal — indexed and variable. Unlike most life insurance providers, Ameritas offers three living benefit riders at no extra cost.

If you look forward to earning dividends on your policy, consider the company’s array of whole life insurance products. The insurer offers an exclusive rider for children, allowing you to purchase a term policy for them and convert it to permanent coverage after they turn 25. Businesses and workers may leverage Focus 10 Life to get guaranteed insurance for at least 10 years. Several policy types and riders are also available for those who are terminally ill.

However, Ameritas does not offer a burial insurance option, and despite having numerous policies, you cannot apply for any of them online. If you do not wish to purchase your policy through an agent, AIG offers a good selection of term, whole and universal life insurance and allows you to get your policy online.

To ensure you find the best policy type before applying, read on to discover Ameritas life insurance products and their features.

At a Glance: Ameritas Life Insurance



Wide selection of term, whole life and universal life plan types

Pays dividends on whole life insurance plans

Widely available

Includes living benefit riders

Receives very low customer complaints


No option to apply online

Lacks a final expense policy


Ameritas was established in Nebraska in 1887 as the Old Line Bankers Life Insurance Company of Nebraska. The company is still headquartered in Lincoln with nationwide operations, serving over 5 million customers. By 2021, Ameritas had $115.7 billion worth of life insurance policies in force.

Ameritas customers can select from numerous life insurance products, including term life, universal life and whole life plans of diverse kinds. Some of the plans do not require a medical exam. Universal life and whole life policies include living benefits through an accelerated death benefit for terminal, critical and chronic illnesses. The triggers for the benefit vary based on the state.

The Ameritas life insurance policies are:

  • Value Plus Term Life
  • Focus 10 Life
  • Growth Whole Life Insurance
  • Access Whole Life Insurance
  • Value Plus Whole Life
  • Growth Index Universal Life
  • Performance II Variable Universal Life
  • Advisor II Variable Universal Life
  • Value Plus Index Universal Life
  • Value Plus Survivor Index Universal Life
  • Value Plus Universal Life

Ameritas' customer complaint ratio was 0.23 in 2021 and 0.27 in 2022, as indicated by the National Association of Insurance Commissioners (NAIC) report. These scores show that the insurer has fewer than average customer complaints. The company also had an A financial strength rating from AM Best.

In addition to the different life insurance policy types, Ameritas has a variety of policy riders, including living benefit riders that may come with no upfront charges, depending on the policy. Unfortunately, the company allows you to obtain a quote but does not allow you to apply online. You will need to consult a financial professional near your home to complete your application.

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Key Takeaways

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A mutual-based organization, Ameritas offers dividends on whole life insurance policies.

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Ameritas has an online term life insurance quote tool, but applications get submitted through an agent.

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Policyholders can get living benefit riders on some permanent life policies.

Ameritas Policy Options Explained

Based on the 2022 Insurance Barometer Study from the Life Insurance Marketing and Research Association (LIMRA), 68% of American adults feel more secure if they have life insurance to assist their financial dependents. Luckily, Ameritas provides several life insurance coverage options at varying price points to appeal to many budgets.

Term Life Insurance Options From Ameritas

Term life insurance offers a cheap way to protect your loved ones for a limited period, but your policy won’t accrue a cash value. The premium amount does not change for the duration of your policy, and your death benefit is guaranteed and should be easy to get at Ameritas due to its excellent claims management capability.

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    Ameritas Value Plus Term Life

    Depending on your situation, you can purchase Value Plus Term insurance to last 1, 10, 15, 20 or 30 years. If you buy coverage for multiple individuals, the policy fees will be cut in half, making your plan more affordable. You can convert your policy to permanent insurance during the first five years. No medical exam will be required unless you increase coverage or purchase a rider.

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    Focus 10 Life

    A simplified term insurance plan that is tailored to employers and employee groups of at least 10 people that offers benefits from $50,000 to $1.5 million. The insurance plan guarantees a level premium for at least 10 years and requires no physical exam. Anyone can apply for this policy as long as they are not more than 70 years old and convert it to permanent insurance without additional underwriting.

Term life insurance offers a cheap way to protect your loved ones for a limited period, but your policy won’t accrue a cash value. The premium amount does not change for the duration of your policy, and your death benefit is guaranteed and should be easy to get at Ameritas due to its excellent claims management capability.

Whole Life Insurance Options From Ameritas

Whole life insurance features a guaranteed death benefit and cash value that accrues interest. Whole life insurance policies provide lifetime coverage and pay your beneficiaries a tax-free benefit after you pass if you have been consistent with your payments. Whole life typically earns you annual dividends that may reduce your premiums significantly.

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    Ameritas Growth Whole Life Insurance

    This is permanent insurance that offers a long-term cash value for periods of, say, 20 to 30 years.

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    Ameritas Access Whole Life Insurance

    Access Whole has the potential to earn an early cash value. Policyholders can get a return on investment in 10 to 15 years, earlier than other whole life plans.

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    Ameritas Value Plus Whole Life

    Offers the lowest premium for whole life coverage and places a secondary priority on the cash value.

    Whole life insurance from Ameritas offers living benefits. The policy features an accelerated benefit rider that offers access to the death benefit while you are still alive in case of a terminal, chronic or critical illness. Ameritas is a mutual-based organization that offers dividends on whole life policies.

You can purchase whole life insurance from Ameritas if your priority is lifetime protection. One beneficial feature of whole life insurance is the tax-free cash value. Beneficiaries can use the death benefit from such plans to cover estate taxes or pay for long-term care expenses.

Universal Life Insurance Options From Ameritas

Universal life insurance lasts as long as you need and offers flexibility around the death benefit and premium. Typically, universal policies do not feature a maturity date, and your policy remains in force as long as you pay your premiums. You decide how much you pay as your premium and when to make the payment based on the changes in your life.

Ameritas offers standard universal coverage, index universal life and variable universal life insurance options:

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    Ameritas Growth Index Universal Life

    It offers a competitive accumulation potential plus death benefit protection. The policy offers a 10-year lookback guarantee and 10% index credit enhancement.

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    Ameritas Performance II Variable Universal Life

    It has an array of long-term investment options for aggressive policyholders. A section of your premium may be invested in select opportunities. Policies have a minimum no-lapse period of 10 years.

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    Ameritas Advisor II Variable Universal Life

    Offers low fees and low-cost investment options that may not be available in other universal life policies. The plan provides maximum value to buyers by waiving sales and withdrawal charges, keeping the policy costs at a minimum.

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    Ameritas Value Plus Index Universal Life

    Value Plus Index is optimized for guaranteed coverage up to 90 years of age. The plan also includes an index credit enhancement and a 10-year lookback guarantee.

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    Ameritas Value Plus Survivor Index Universal Life

    Value Plus Survivor Index suits 50 to 70-year-old buyers who are keen to purchase cheap protection with an index product for two people. The beneficiaries receive the death benefit after the second insured individual passes away.

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    Ameritas Value Plus Universal Life

    It offers the advantage of permanent protection with an affordable death benefit. The plan features a no-lapse guarantee of 15 years and low premiums.

Universal life insurance is the best protection if you need a policy that is cash-value based and lasts as long as you need it. You can utilize the cash value of your universal life insurance to add to your income or meet other expenses as they arise. Utilizing the cash value component during the policy’s lifetime will reduce the death benefit until the money is paid back.

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Ameritas Life Insurance Riders

A rider offers add-on protection to an existing life insurance policy and can be obtained at an extra fee. You can take advantage of riders to tailor your life insurance plan to match your preferences.


Accelerated Death Benefit Rider

Known as the Care4Life Accelerated Death Benefit rider via Ameritas,
this is available on all policies at no additional cost. The rider carries three
components: a chronic illness rider, a critical illness rider and a terminal
illness rider. The maximum limit for the critical illness rider is $250,000.
Chronic illness and terminal illness each have a maximum of $1 million
and not more than 50% and 75% of the policy amount, respectively.

Conversion Extension Rider

This rider extends the conversion date of your term policy to the policy
anniversary close to attaining age 70, allowing you to convert your
protection to permanent insurance.

Accelerated Benefit Rider for Terminal Illness

This rider also comes at no cost and allows part of your policy’s death benefit to
cover terminal illness costs as a living benefit.

Paid-Up Insurance Benefit Endorsement

The endorsement prevents your policy from lapsing due to a large debt based on
certain conditions. It allows you to convert your plan into paid-up protection.

Children’s Insurance Rider

You can use this rider to get $25,000 term insurance for children below 18 years.
Once they reach 25, they can convert it to a permanent policy without additional

Waiver of Monthly Deduction Rider

If the unfortunate happens and you become disabled, you can get this optional
rider to waive your monthly deduction. This rider only applies to policyholders
aged 55 and below, and its fee varies depending on your age, policy size and
various other factors.

How to Get Ameritas Life Insurance

If you’re unsure how to purchase life insurance from Ameritas, the following tips can help you complete the application process and handle a denied application accordingly.

How to Buy Life Insurance From Ameritas


Do Your Research

The best way to start is by researching the type of policies offered by Ameritas before choosing one that fits your needs. You can speak to a financial professional about available options or check out the company’s resource center.


Compare Quotes

Even if you identify a policy that suits your preferences, be sure to compare quotes. Note that the cost of your life insurance plan will vary based on attributes like your gender, age, health and coverage requirements. You can use the Ameritas online quote tool to estimate your premium for a term policy.


Health Check

After deciding on the best policy type, work with your financial professional to complete the application and undergo the underwriting process. Depending on the plan type, you may need to undergo some lab or medical tests. Ensure you provide as much detail as required.



Once Ameritas approves your application, you will receive your policy, and if you have any concerns or questions, you can talk to your agent or an Ameritas representative.

What to Do if Ameritas Denies You Coverage

Getting a rejection on your life insurance application is not the end of the road, as there are several options to consider, including the following.


Contact Your Broker

Consult an Ameritas representative to understand why you were denied a policy. You may need to provide more details, alter your coverage options or choose a different policy type altogether.


Lifestyle Changes

Ameritas and several other life insurance providers may decline your application if you have a specific pre-existing health condition. Once you demonstrate improved health, you may get reconsidered for your preferred policy.


Explore Other Options

Consider other life insurance products, including those that need no medical exam. Note that the cost and coverage level of alternative insurance may differ from your initial choice.

Frequently Asked Questions About Ameritas Life Insurance

We answered the following questions, which are common among buyers who are seeking a life insurance policy from Ameritas.