American Health and Life Insurance Company (AHL) is a part of a family of insurance companies under OneMain Solutions, with over 75 years of experience.
AHL is a life and health underwriter for credit insurance and other life and health insurance products offered through onemain financial.
It was originally known as Cavalier Life Insurance Company, which was incorporated in Maryland in 1954. The company wrote ordinary life, health and annuities, but now focuses on credit life and disability insurance and other risk products offered through its affiliated lenders.
AHL is licensed in 49 states, as well as the District of Columbia and Canada.
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Services rendered by AHL
Credit insurance: AHL offers credit insurance products that can help protect borrowers from unexpected events that may affect their ability to repay their loans, such as death, disability, or involuntary unemployment.
Credit insurance can cover the loan balance, the monthly payment, or both, depending on the type and amount of coverage purchased.
Life insurance: AHL offers life insurance products that can provide financial security for the beneficiaries in case of the insured’s death. Life insurance can help cover funeral costs, debts, living expenses, education, and other needs. AHL offers term life, whole life, and universal life insurance policies with different features and benefits.
Health insurance: AHL offers health insurance products that can help cover medical expenses in case of illness or injury. Health insurance can help pay for doctor visits, hospital stays, prescription drugs, preventive care, and other services.
The organization provides individual and family plans, group plans, and Medicare supplemental plans, each featuring various coverage and cost options. However, it does not extend international coverage or temporary policies.
American Health and Life Insurance Company financial details
Premium Costs: Annual health insurance premiums increased in 2023. Costs vary based on coverage, policyholder’s health, and employer size.
Payment Options: American Health and Life offers flexible payment methods, including online, phone assistance, and mail options.
Discounts and Offers: The company provides multi-policy, safe driving, and loyalty discounts. Affiliates like ahm offer additional member discounts.
Claim Payout Ratio: Higher payout ratios reflect the company’s commitment to policyholders, but may not indicate claims service quality. Specific data for American Health and Life isn’t available; US health insurers had an average ratio of 86.8% in 2022. In India, life insurance had an average ratio of 98.62% in 2023.
American Health and Life Insurance Company claiming process
- Claim process: To make a claim with American Health and Life Insurance Company, you have to follow these steps:
- Download a life claim form from the company’s website here.
- Fill out the form with your personal and policy information and sign it.
- Email the completed form to insclaims@omf.com or upload it to the company’s website here.
- Provide any required documents for your claim, such as a copy of the death certificate, a valid ID proof, and a medical certificate signed by the doctor.
- Claim status: To check the status of your claim, you can use the company’s online policy and claim system here. You will need to log in with your policy number and password. You can also contact your assigned adjuster or call the customer service number at 1-800-285-8623 for updates.
- Required documents for claims: The documents required for claims may vary depending on the type and severity of the loss. However, some of the common documents that you may need to provide are:
- A copy of your current driving license and permit
- A copy of your valid insurance disc
- A policy statement or report
- A completed and signed claim form along with supporting documents as requested by the claim’s office
- Average Claim Approval Time: Claim approval time varies based on factors like claim complexity and evidence availability. The company aims for processing within 7 to 10 business days after receiving all required information, but this may vary by state and individual circumstances.
- Claim Customer Reviews: Customer reviews of American Health and Life Insurance Company’s claims service are mixed. Some praise efficient resolutions, while others criticize unprofessionalism, poor service, and issues like claims filing difficulty, processing delays, denied claims, and coverage inadequacies.
These are the company’s coverage details
Policy Exclusions: Policy exclusions, which prevent beneficiaries from receiving the death benefit, encompass scenarios like suicide, acts of war, and aviation accidents. Specific exclusions vary by plan.
Coverage Limits: Coverage limits represent the maximum amounts for benefits. Some health insurance plans had lifetime or annual limits on essential health benefits, but the health care law prohibits such limits.
Deductibles: Deductibles are out-of-pocket payments before insurance coverage activates. Typically, higher monthly premiums correlate with lower deductibles. Average deductibles for US employer-sponsored health plans increased from $917 in 2010 to $1,763 in 2021.
Add-ons or Riders: Add-ons or riders offer customization to basic life insurance policies, providing extra features like guaranteed insurability, accidental death coverage, and more. These may entail additional costs and terms.
American health and life insurance company details
History and founding year: American Health and Life Insurance Company (AHL) is a part of a family of insurance companies under OneMain Solutions, with over 75 years of experience. AHL is a life and health underwriter for credit insurance and other life and health insurance products offered through OneMain Financial.
AHL was originally known as Cavalier Life Insurance Company, which was incorporated in Maryland in 1954. The company wrote ordinary life, health and annuities, but now focuses on credit life and disability insurance and other risk products offered through its affiliated lenders.
CEO and leadership team: CEO Phil Walker also leads OneMain Solutions. AHL’s leadership team includes Jim Lucas, David McElroy, Kevin Hogan, Sabra Purtill, John Repko, Claude Wade, and Rose Marie Glazer
Annual report: The annual report of AHL is not publicly available, but the annual report of its parent company, OneMain Holdings Inc., can be accessed here.
The report provides financial statements, business overview, risk factors, management discussion and analysis, and other information about the company and its subsidiaries.
Financial stability ratings: AHL has an A- (Stable) rating from Fitch Ratings, which indicates a strong capacity to meet its financial commitments. AHL also has an Aa3 (High Quality) rating from Moody’s Investors Service, which indicates a very low credit risk. AHL does not have a rating from Standard & Poor’s or A.M. Best.
Market share and company size: AHL’s market share and size are undisclosed, but in 2020, U.S. life insurance premiums totaled $159.7 billion. AHL doesn’t rank in the top 25 by market share..
AHL Insurance Company basic information
| Basic Information | American Health and Life Insurance Company |
|---|---|
| Phone Number | 1-800-285-8623 |
| Address | 1420 – 380 Wellington Street London, Ontario N6A 5B5 |
| Customer Service contact | You can email them at OneMainSolutionsCustomerCare@onemainfinancial.com or call them at 1-800-285-8623 |
| Policy details | They offer various health and life insurance products, such as credit insurance, term life, whole life, universal life, individual and family plans, group plans, and Medicare supplemental plans |
| Email address | OneMainSolutionsCustomerCare@onemainfinancial.com |
AHL’s legality and compliance
Licensing Information: AHL, a subsidiary of OneMain Solutions, has 75+ years of experience, offering credit insurance and more, serving 49 states, DC, and Canada.
Regulatory Actions or Violations: AHL adheres to stringent data handling obligations as per the Privacy Act 1988 (Cth), Australian Privacy Principles (APPs), Australian Government Agencies Privacy Code (the Privacy Code), and Archives Act 1983 (the Archives Act).
External sources reveal a $1.5 million ASIC fine in 2022 for misleading conduct and a 2023 class-action lawsuit for non-disclosure.
Privacy Policy: AHL’s privacy policy delineates their management of personal and sensitive information. They may collect such information directly, via authorized representatives, or through compliant third parties. Data collection methods encompass surveys, email and telephone communication, forms or notices, online portals, and their website.
AHL uses data for services, compliance, and improvement. They may share it within Macquarie Group and respect your data rights..
Terms and Conditions: Accessing AHL’s website and online services implies agreement to their terms and conditions. Users must also uphold all relevant laws and regulations. Responsible for maintaining the security of login credentials, users are forbidden from unlawful, fraudulent, harmful, or offensive activities.
Prohibited actions include interference with the website, unauthorized access, copyright violations, and unauthorized data collection. Respect privacy rights.
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