What is American Income Life insurance and how does it work?
American Income Life (AIL) was founded in 1951 and is a wholly-owned subsidiary of the larger Globe Life Inc.
company.
AIL primarily offers life insurance and supplemental health benefits targeting working-class families in the United States, Canada, and New Zealand.
The company operates through its National Income Life Insurance Company subsidiary in New York.
While AIL is recognized for its commitment to customer satisfaction, it has faced some concerns regarding transparency and customer complaints about its sales practices and product affordability.
As of 2024, AIL has an A+ financial strength rating from the Better Business Bureau, indicating the company is financially stable and able to meet its policy obligations.
AIL's product offerings include life insurance, final expense coverage, children's whole life, and term life policies, designed to cater to the needs of its target market.
The company utilizes a network of independent insurance agents to distribute its products, allowing for personalized service and customized policy recommendations.
AIL is known for its advocacy work, particularly its support for labor unions and their members, offering specialized insurance products and services tailored to this demographic.
The company's policies often include additional benefits, such as accidental death and dismemberment coverage, which can provide extra protection for policyholders.
AIL has a strong presence in the supplemental health insurance market, offering products like hospital indemnity and critical illness coverage to complement its life insurance offerings.
The company's underwriting process takes into account factors like occupation, health status, and lifestyle, allowing it to offer competitive rates for its target market.
AIL has a multi-lingual customer service team, catering to the diverse needs of its policyholders in the United States, Canada, and New Zealand.
The company's website and mobile app allow policyholders to manage their accounts, file claims, and access their policy information digitally.
AIL has received recognition for its community outreach and charitable initiatives, which include supporting local organizations and providing financial literacy education.
The company's sales agents undergo extensive training to ensure they are knowledgeable about the products and can effectively communicate the benefits to potential customers.
AIL's policies often have lower minimum coverage amounts compared to traditional life insurance providers, making them more accessible to working-class families.
The company's final expense coverage products are designed to help policyholders' loved ones cover the costs of funeral and burial expenses upon the policyholder's passing.
AIL's children's whole life policies allow parents and grandparents to start building a financial foundation for their loved ones from a young age.
The company's term life insurance policies offer flexible coverage periods, allowing policyholders to customize their protection based on their needs and budget.
AIL's partnership with labor unions and associations provides its policyholders with exclusive benefits, such as discounted rates and additional coverage options.