American Memorial Life Insurance Company (South Dakota) provides life insurance policies to policyholders.
These policies ensure that, upon the insured person’s passing, the company will deliver a sum of money to the named beneficiaries.
In exchange for the premiums paid by the policyholder during their lifetime.
 Company’s Overview
American Memorial Life Insurance Company operates from 440 MOUNT RUSHMORE RD in Rapid City, South Dakota, USA.
 Has its headquarters located in Rapid City, South Dakota.
This company primarily operates in the field of liability insurance.
Founded in 1955, American Memorial Life Insurance Company was acquired by Assurant in 1996. Assurant, which issued its initial policy in 1892, entered the preneed insurance market.
American Memorial is a part of the Assurant Solutions division, comprising brands specializing in niche insurance products.
Assurant, a Fortune 500 Company, is headquartered in New York. However, it has encountered legal disputes over the past decade related to the cancellation of health insurance policies.
How can I contact American Memorial?
Information | Assurant | American Memorial |
---|---|---|
Website | www.assurant.com | www.assurant.com |
Final Expense Customer Service | Phone: (800) 621-7162 | Phone: (800) 621-7162 |
Prearranged Funeral Customer | Phone: (800) 533-2220 | Phone: (800) 533-2220 |
Headquarters Address | Not provided | 440 Mt Rushmore Road, Rapid City, SD 57701 |
Benefits Of Joining American Memorial Life Insurance Company offer?
American Memorial Life Insurance specializes in unique life insurance products, not the typical term or whole life insurance.
They focus on final expense and preneed insurance.
Final expense policies offer smaller death benefits, primarily covering end-of-life expenses like funerals.
These policies are often more budget-friendly.
Preneed insurance is similar but lets you plan your funeral and designates the funeral home as the beneficiary, while final expense policies let you choose the beneficiary.
Types of Life Insurance Policies Offered
- American Memorial Life Insurance offers a variety of life insurance policies to suit different needs.
- Options include term life, whole life, and universal life insurance.
- Take your time to assess these options and select the one that best fits your needs and budget.
- Term life insurance provides coverage for a specific period (10 to 30 years).
- It’s often chosen for working years or specific financial responsibilities.
- Whole life insurance offers lifelong coverage and builds cash value.
- It serves as both protection and a savings component.
- Universal life insurance combines flexibility with lifelong coverage.
- Policyholders can adjust premiums and death benefits over time.
- American Memorial is committed to offering comprehensive coverage and excellent service.
- Their knowledgeable agents guide you in choosing the right policy for your loved ones’ protection.
How much is American Memorial life insurance?
American Memorial life insurance rates cannot be accessed online.
However, to provide you with an estimate of what you could expect to pay for final expense insurance, please refer to the table below.
Policyholder Age | $10,000 Policy: Male Average Monthly Rates | $10,000 Policy: Female Average Monthly Rates |
---|---|---|
40 | $24.02 | $20.43 |
45 | $27.16 | $22.65 |
50 | $43.20 | $32.91 |
55 | $50.06 | $38.89 |
60 | $57.86 | $45.98 |
65 | $71.02 | $55.60 |
70 | $88.55 | $69.69 |
75 | $114.80 | $91.51 |
80 | $163.18 | $126.89 |
85 | $230.74 | $181.52 |
It’s important to consider that your rates may fluctuate depending on various factors, such as your age, gender, health, location, and more.
The Company’s’ positive ratings
American Memorial Life Insurance holds an A+ BBB rating with 7 resolved complaints and a 1.57/5 star rating.
Assurant, too, has an A+ BBB rating but with 446 complaints and a 1.05/5 star rating.
In terms of financial strength, American Memorial boasts an A- rating from A.M. Best, while Assurant lacks an overall rating but has good long-term and outstanding short-term issuer credit ratings.
Additionally, American Memorial stands out with an NAIC complaint index of 0.26, significantly lower than the national median of 1.00, reflecting fewer customer complaints for a company of its size.
How can I get a file a claim with American Memorial?
Step-by-Step Guide to Filing a Claim with American Memorial
Initiating the Claim Process:
- Begin by contacting American Memorial to kick-start the claim process, as this is the foundational step.
- The dedicated team at American Memorial will guide you through this initial contact, offering the essential information needed to move forward.
- Prepare required documents and inform American Memorial about the insured individual’s passing during this conversation.
Filling Out the Claim Form:
- Once you receive the claim form from American Memorial, carefully complete it, ensuring all necessary details are accurate.
- Accurate contact information, including your name, address, phone number, and email address, is crucial for effective communication.
Submitting the Claim and Required Documentation:
- Submit the claim form and the necessary documentation promptly to avoid processing delays.
- Required documentation may include a copy of the death certificate, proof of your relationship to the insured individual, and other relevant supporting documents.
- Organize the paperwork properly before submission to expedite processing.
What to Expect After Filing a Claim:
Claim Processing and Approval Time:
- American Memorial strives for efficient claim processing and aims to provide a prompt response.
- Processing times may vary based on claim complexity and required documentation, but they generally occur within a reasonable timeframe.
Possible Outcomes of a Claim:
- American Memorial will assess your claim carefully and determine the outcome, which may include full approval and payment, a request for additional documentation, or denial due to policy exclusions or inaccuracies in the application.
- The company maintains transparent communication throughout the process and offers explanations as needed.
Filing a life insurance claim with American Memorial Life Insurance Company can be a straightforward process with proper preparation and an understanding of the involved steps.
By following this step-by-step guide and being proactive in gathering necessary documents.
You can navigate the process smoothly, ensuring financial support for your loved ones during challenging times.
Why buy American Memorial life insurance?
American Memorial Life Insurance Company provides straightforward policies that assist in shouldering funeral and burial costs, relieving your family from the financial burden.
However, these policies may not furnish sufficient coverage for long-term support.
If you require a policy with a larger death benefit, American Memorial may not have what you need, but you might discover such a policy from one of Assurant’s other subsidiaries.
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