Ameritas Life Insurance Group: A Comprehensive Review for Term Life Coverage

For a complete overview, see understanding term life insurance.

When clients ask me about Ameritas Life Insurance Group, I often start by explaining that they’re one of those carriers that doesn’t spend millions on TV commercials, but quietly provides solid coverage at competitive rates. After more than two decades in financial services and over ten years as an independent agent, I’ve learned that the companies you see advertised everywhere aren’t always the ones offering the best value.

Ameritas has been around since 1887, which means they’ve survived multiple economic downturns, wars, and market crashes. That kind of staying power tells you something about how they manage risk and serve their policyholders. Their term life insurance products, marketed under the AmTerm brand, offer several features that make them worth considering for many of my clients.

Understanding Ameritas Life Insurance Group’s Financial Strength

Before I recommend any carrier to my clients, I always examine their financial stability. Ameritas Life Insurance Group maintains solid ratings from the major rating agencies:

• A.M. Best: A (Excellent)
• Standard & Poor’s: A+ (Strong)
• Moody’s: A2 (Good)

These ratings reflect the company’s ability to meet their financial obligations to policyholders. In practical terms, this means they have the financial reserves to pay claims and the management expertise to navigate challenging economic conditions.

What I find particularly reassuring about Ameritas is their conservative approach to investments and risk management. They’re not chasing high-risk, high-reward strategies that could jeopardize their policyholders. Instead, they focus on steady, sustainable growth that supports long-term stability.

The company serves over 2.5 million customers nationwide and has over $12 billion in assets. While they’re not the largest insurer in the market, their size gives them the resources to compete effectively while maintaining personalized service.

AmTerm Product Line: Coverage Options and Features

Ameritas offers their term life insurance through the AmTerm product line, which includes several variations designed to meet different needs and budgets:

• AmTerm 10: 10-year level premium term
• AmTerm 15: 15-year level premium term
• AmTerm 20: 20-year level premium term
• AmTerm 30: 30-year level premium term

The coverage amounts range from $25,000 to $10 million, depending on age and underwriting. What I appreciate about their approach is the flexibility in both coverage amounts and term lengths. Many of my younger clients choose the 30-year term because it covers them through their peak earning years and until their children are financially independent.

One standout feature is their conversion privilege, which allows you to convert your term policy to permanent coverage without going through medical underwriting again. This can be incredibly valuable if your health changes during the term period. I’ve seen too many people lose the ability to get affordable coverage because they developed a condition after their term expired.

The policies also include an accelerated death benefit rider at no additional cost, which allows access to a portion of the death benefit if diagnosed with a terminal illness. This living benefit feature can provide crucial financial support during difficult times.

Underwriting and Health Considerations

Having worked with thousands of applicants over the years, I’ve learned which carriers are more lenient on certain health conditions. Ameritas falls into what I’d call the “reasonable middle ground” category – they’re not the most lenient, but they’re far from the strictest.

Their underwriting approach tends to favor applicants who have:

• Well-controlled chronic conditions: If you have diabetes, high blood pressure, or high cholesterol that’s well-managed with medication, Ameritas often provides competitive rates
• Family history concerns: They’re generally reasonable about family medical history that might concern other carriers
• Mild mental health history: Depression or anxiety that’s been stable with treatment typically doesn’t result in automatic declines

What sets Ameritas apart is their willingness to look at the whole picture rather than automatically declining or rating up based on a single condition. I’ve had clients who were declined elsewhere find standard or even preferred rates with Ameritas.

They offer both fully underwritten and simplified issue options. The fully underwritten process includes medical exams and medical record reviews but typically results in better rates for healthy applicants. Their simplified issue option, while more expensive, can be valuable for those who want coverage quickly or have concerns about the medical exam process.

Pricing and Value Comparison

When it comes to pricing, Ameritas typically falls in the competitive middle tier. They’re rarely the absolute cheapest option, but they’re usually within range of the best prices, especially when you factor in their underwriting flexibility.

Here’s what I’ve observed about their pricing strategy:

• Preferred Plus rates: Competitive with top carriers for excellent health applicants
• Preferred and Standard rates: Often better than average, especially for applicants with mild health conditions
• Substandard rates: Generally reasonable and sometimes better than carriers known for strict underwriting

The real value often emerges during the underwriting process. I’ve had situations where a client received quotes from multiple carriers, and while Ameritas wasn’t the cheapest quote initially, they were the only one to offer the quoted rate class after underwriting. Other carriers reduced the rate class or added ratings, making Ameritas the best actual price.

Their rate structure also includes some built-in flexibility. For example, if you qualify for a better rate class within the first two years of the policy, they’ll automatically adjust your premiums downward. This feature protects you if your health improves or if there were underwriting factors that initially prevented you from getting the best rates.

Living Benefits and Rider Options

One area where Ameritas really shines is their living benefits and rider options. These features can significantly enhance the value of your coverage:

Terminal Illness Rider: Included at no cost, this allows you to access up to 50% of your death benefit if diagnosed with a terminal illness with a life expectancy of 12 months or less.

Disability Waiver of Premium: If you become totally disabled, this rider waives your premium payments while keeping your coverage in force. For someone in their 30s or 40s, the statistical chance of becoming disabled is actually higher than the chance of dying, making this rider valuable protection.

Accidental Death Benefit: Provides additional coverage if death results from an accident. While I generally don’t recommend this rider as a primary strategy, it can be cost-effective for those in higher-risk occupations.

Child Term Life Rider: Provides coverage for dependent children, which can be converted to permanent coverage later without medical underwriting.

Having helped a client access living benefits when she was diagnosed with ALS, I can tell you these features aren’t just theoretical benefits – they provide real financial support when families need it most. She was able to access 90% of her death benefit while still living and used that money to take a trip with her family before she passed.

Customer Service and Claims Experience

From an agent’s perspective, Ameritas provides solid support throughout the application and claims process. Their underwriting team communicates well, and they’re generally reasonable about requesting additional information or medical records.

The claims process, while something no one wants to think about, is straightforward with Ameritas. They have a reputation for paying legitimate claims promptly without unnecessary delays or disputes. In my experience, this is one of the most important factors to consider when choosing a carrier – you want confidence that your beneficiaries will receive the benefits without hassle during an already difficult time.

Their customer service team is available during regular business hours, and policyholders can access their account information online. While they may not have the 24/7 support systems of the largest carriers, their service quality is generally good for routine policy maintenance and questions.

One practical advantage I’ve noticed is their flexibility with premium payments. They offer various payment options and are generally reasonable about working with policyholders who experience temporary financial difficulties.

Who Should Consider Ameritas Life Insurance Group

Based on my experience working with hundreds of clients, Ameritas tends to be an excellent choice for:

• Applicants with mild health conditions who want competitive rates despite not being in perfect health
• Those seeking strong living benefits at reasonable costs
• Clients who value financial stability over flashy marketing or the absolute lowest price
• People who’ve been declined elsewhere and need a carrier with reasonable underwriting
• Those wanting conversion flexibility to permanent coverage later

Ameritas might not be the best fit if you’re in excellent health and only care about the absolute lowest premium, or if you need coverage amounts above their maximum limits. However, for the majority of applicants, they offer a solid combination of competitive pricing, reasonable underwriting, and valuable features.

The key is understanding that the cheapest quote isn’t always the best value, especially if that quote doesn’t hold up through underwriting. I’ve seen too many people chase the lowest price only to end up with a different rate class or declined altogether, wasting weeks in the process.

Related Reading

• Life Insurance for Parents: The Complete Guide
• 20 Year Term Life Insurance Cost in 2026
• Guaranteed Issue Term Life Insurance: The Complete Guide
• Life Insurance for High Risk Individuals: The Complete Guide

Ready to explore your term life options? Contact me for a personalized quote comparison and let’s find the coverage that makes sense for your specific situation and health profile.