Choosing the right insurer is very important. Old American Insurance Company has been around for over a century. This review compares its classic coverage to today’s needs.
We talk about the basics: policy tools, ratings, and coverage for life and annuities. We also cover auto products from Old American Indemnity. Plus, we share details on death claim forms and auto claims handling.
Learn about rates, customer feedback, the claims process, and how to log in. We also discuss phone support. This helps you see how easy it is to get help when you need it.
Keep reading to see if Old American Insurance Company is right for you. It’s all about fitting your budget and giving you peace of mind.
Key Notes;
- Old American Insurance Company blends a long-standing reputation with focused products for seniors and final expense coverage.
- Expect classic insurance coverage and straightforward policy management, plus an auto arm for higher-risk drivers.
- Key practical items to check: rates by state, claims timelines, death claim forms, and online login portal features.
- Insurance ratings and financial strength matter for long-term reliability; we detail those later in the review.
- Customer reviews and phone support performance can tip the balance—read the claims and service sections closely.
Overview of Old American Insurance Company and Company History
Old American Insurance Company started in the 20th century. It was founded in Kansas City, Missouri, to protect families. This early goal led to a focus on customer service and financial stability.
The company’s structure is family-based and diversified. It has been a part of Kansas City Life Insurance Company’s family for 30 years. This setup helps manage money and follow rules better.
Old American grew by making smart buys and partnerships. This helped it offer more products and reach more people. It now offers more than just life insurance, like auto and specialty insurance.
Old American is seen as a traditional, reliable insurer. It values long-term relationships and stability over new ideas. This attracts people who want dependable insurance.
The company is well-known in its market. It serves almost 200,000 customers across the country. It specializes in whole life insurance for seniors.
Its customers are mostly older people. The company works with independent agents to build strong community ties. This helps keep customers happy and loyal.
Old American Insurance Company product lineup and core offerings
Old American focuses on life insurance for seniors. They offer whole life final expense policies in 47 states. These policies have level premiums that never change.
They also include extras like a living will and a guide for beneficiaries. This helps with planning and making charitable gifts.
The company guarantees benefits for those who keep up with payments. Benefits can be up to $25,000. They promise not to cancel coverage as long as premiums are paid.
This is great for those wanting predictable coverage and to give to charities.
They have four immediate death benefit plans. Agents help pick the best one based on age, health, and money needs. You can choose how long to pay premiums, from life-long to 10 to 20 years.
For those with health issues, Old American has modified graded death benefit plans. These plans cover ages 40 to 80. They offer partial benefits for the first two years, then full benefits.
This makes it easier for those who might not qualify for other plans.
Agents compare these plans to older policies. This helps clients understand the differences and choose what’s best for them.
| Product | Key Features | Typical Eligibility | Payment Options |
|---|---|---|---|
| Whole life final expense | Level premiums, guaranteed benefits, living will and document registry | Adults across 47 states | Life-long premiums, limited-payment options available |
| Immediate death benefit plans | Four plan choices, customizable face amounts, agent selection | Applicants approved by underwriting; age and health dependent | Life-long or 10–20 year limited payments |
| Modified graded death benefit | Three graded forms, partial benefits for first two years, full after two years | Applicants ~40–80 with health concerns | Level premium schedules; varies by form |
Life insurance: policy types, features, and who they’re best for
Old American sells life insurance through agents. They help match coverage to individual needs. Agents explain options and help manage policies.
They also help pick premium schedules that fit budgets. The company focuses on whole life final expense plans. They also offer graded and limited-term options in some cases.
Whole life vs. universal vs. term options available through Old American
Whole life has level premiums and guaranteed coverage for life. It’s good for seniors who want predictable protection. It also offers steady policy performance.
Universal and term products are also available. But Old American mainly sells whole life and graded plans to older buyers.
Juvenile insurance features, cash value, and limited premium payment plans
Juvenile insurance is for ages 15 days to 15 years. It has ten-year level premiums. You can also pay with a single premium, like saving for two years.
Parents choose this insurance for early cash value growth. This can help fund education or other needs later.
Cash value in juvenile plans grows over time. It’s available even if the child gets sick later. Some policies also guarantee benefit increases up to $25,000 and keep coverage no matter the future health.
Customizable riders and value-added tools like living will and document registry
Policyholders can add riders for more benefits or to name charities. Agents help choose riders based on cost and coverage. Old American offers tools like living will access and a vital document registry.
These tools help with end-of-life planning. They make managing policies easier. Whole life is good for seniors wanting stability. Juvenile insurance is for families wanting early cash value. Customizing with agents is key for choosing the right premium and riders.
Annuities and retirement products offered by Old American
Old American now offers annuities and retirement products. These go well with classic insurance. They aim to give steady income and help with tax-deferred growth and legacy planning. You can get help from an agent before buying.
There are different types of annuities: fixed, indexed, and deferred. You can choose how you get your money, like a lifetime income or a lump sum. Each type affects how your money grows and is paid out.
Think about using annuities with life insurance for financial planning. This can help with steady income and keeping your estate liquid. A small annuity can cover funeral costs, keeping other assets safe.
Look closely at the guarantees, fees, and how long you can surrender the policy. The fees and surrender charges can change over time. They affect how much you get from your annuity.
Make sure the company is backed by A.M. Best, like Kansas City Life. Talk to an agent about how fees and surrender periods work. They can show you how your annuity might perform.
| Feature | Typical Option | Impact on Buyer |
|---|---|---|
| Type | Fixed, Indexed, Deferred | Determines return method and volatility exposure |
| Payout | Lifetime, Period Certain, Lump Sum | Affects income predictability and legacy transfer |
| Guarantees | Guaranteed interest or indexed floor | Supports conservative elder financial planning |
| Fees | Rider costs, admin fees, market value adjustment | Reduces net return; review illustrations carefully |
| Surrender periods | Declining charge schedule (often 5–10 years) | Limits liquidity early; plan withdrawals around schedule |
| Sales approach | Agent-assisted with illustrations | Enables tailored scenarios and compliance with needs |
Auto insurance products under the Old American group
Old American Indemnity Company offers car insurance for drivers with past problems. They focus on simple, practical coverage for those who can’t find standard insurance. Their products are designed for high-risk drivers, not fancy online tools.
Old American Indemnity Company: focus on high-risk drivers
The Old American Indemnity Company started in 1946. It works with agents to help drivers with recent tickets or gaps in coverage. They offer clear, affordable options that help drivers get back on track.
Available coverages commonly offered
They offer basic liability coverage and optional extras like collision and comp. Medical payments and personal injury protection are also available. Other options include GAP, rental reimbursement, and roadside assistance.
States served and policy management online limitations
They sell insurance directly in 12 states. You can get a quote online or by phone. But, managing your policy online is limited.
Customers must call agents for policy changes or to request documents. Phone support and agent contact are key for making changes or getting proof of insurance.
| Feature | What to expect | Action needed |
|---|---|---|
| Target market | High-risk drivers with past violations or coverage gaps | Work with an authorized agent for placement |
| Core coverages | Liability coverage, collision, comp, PIP/MedPay | Request agent quote for limits and deductibles |
| Additional options | Uninsured/underinsured motorist, GAP, roadside, rental, umbrella | Bundle add-ons during underwriting or at renewal |
| States served | AL, AZ, IN, KY, LA, MO, NC, ND, SC, TN, TX, UT | Obtain state-specific quote online or by phone |
| Online service | No policy holder login, no online payments, no digital ID card requests | Contact agent, call 866-233-7091, or email [email protected] |
| Mailing address | P.O. Box 793747, Dallas, TX 75379-3747 | Send required documents or correspondence by mail |
Claims process, forms, and contact details for policyholders
Filing a claim with Old American is easy. You need clear paperwork and to contact them quickly. They offer phone, email, and online chat for help.
Remember to have your policy number ready. Also, save digital copies of your policy and important documents in Old American’s registry.
How to file life insurance and death claims (forms and required documents)
For life insurance claims, work with your agent from start to finish. They help you with the needed documents and forms. You’ll need a certified death certificate, the original policy, and other documents.
Send in the completed forms by mail or through your agent. The review process can take time. Make sure all documents are complete to speed things up. If you have questions, call the customer service numbers for help.
Auto claims, roadside assistance, and typical claim timelines
For auto claims, start by calling 866-233-7091 or emailing them. Roadside assistance and rental reimbursement are extra options on some policies.
Claim times vary. Simple claims are faster than those needing more investigation. Sometimes, there are delays if there are many claims or extra reports needed. Keep in touch with your agent and use the claims support lines for urgent matters.
Customer service phone numbers, claims phone number, mailing addresses, and login/portal notes
You can reach out by phone, email, or online chat. For auto claims, call 866-233-7091. Send documents to P.O. Box 793747, Dallas, TX 75379-3747. Keep copies of all correspondence and certified mail receipts.
There’s no public login portal for life policies. Auto policyholders have limited online options. So, phone and agent help are key. For quicker service, call customer service early and ask for a claims ticket.
- Tip: Make a checklist with policy number, claimant name, and beneficiary details. Also, have photocopies of ID ready to speed up claims.
- Tip: Save your agent’s direct line and the claims support number before you travel or have surgery. This makes it easier to handle urgent claims.
Rates, pricing factors, and sample cost considerations
Insurers price policies based on personal and regional factors. Agents and underwriters use these to give quotes. These quotes vary by company and product.
Factors that affect life and auto premiums
Age and health are key for life insurance rates. Young, healthy people pay less than older ones with health issues. Smoking, new health diagnoses, and meds can change rates.
Driving record, car type, and where you live affect auto insurance. Your credit score and gender might also play a role. Drivers with high-risk profiles pay more, with some companies targeting this group.
Sample auto-rate ranges by state and national comparisons
Auto insurance rates vary by state. The national average for full coverage is about $94 a month. This gives a base for comparing quotes.
| State | Full Coverage Monthly | Notes vs. National Avg |
|---|---|---|
| Alabama | $83 | Below national average; lower liability costs in many counties |
| California | $93 | Near national average; urban density drives variability |
| Texas | $106 | Above average; large state-level risk differentials |
| Louisiana | $135 | Significantly above average; frequent severe weather impacts |
| Florida | $118 | Higher than average; fraud and storm exposure raise costs |
| North Carolina | $69 | Well below average; favorable regulatory and risk mix |
| Kansas | $78 | Below average; rural driving patterns lower frequency |
| Missouri | $82 | Below average; mixed urban-rural profile |
| Utah | $81 | Below average; strong safety and lower claims rates |
Payment period choices and whole life pricing
Many whole life plans have level premiums that never go up. You can choose to pay for life or for a set period. This includes 10- and 20-year plans.
For amounts up to $25,000, you can get lifetime coverage without paying forever. This is with limited-payment whole life.
Practical steps when comparing costs
- Get quotes from at least five companies to see the range.
- Compare the death benefit you get right away versus one that grows over time.
- Think about getting help from an agent, which can help get better rates.
- Look at how often you pay and how it affects your monthly costs and total cost.
Financial strength, ratings, and insurer stability
Old American plays a big role in the Kansas City Life group. This affects how people see its financial strength and stability. The company’s premium income has grown steadily. It also has a careful investment plan to keep things running smoothly.
The parent company has an A.M. Best A- rating with a stable outlook. This means they have enough money to pay claims and are financially strong. The A.M. Best A- rating is the top rating for Old American from outside experts.
Other big rating agencies don’t cover Old American as much. So, people should look at Kansas City Life’s overall financial reports. Asking an agent for the latest financial details can give a clearer view of the company’s money and how it’s doing.
For car insurance, Old American Indemnity has an A rating on the Better Business Bureau. The BBB rating shows how well the company handles customer complaints. But it doesn’t tell everything about the company’s financial health.
When looking at insurance ratings, check the company’s financial trends. Look at their surplus, investment results, and how they handle claims. Even if a company has been stable in the past, it’s important to check their current finances.
To make a smart choice, check the latest ratings and financial reports. Ask an agent about the company’s reinsurance and reserve policies. These steps help you choose an insurer that fits your needs for stability and financial strength.
Customer reviews, complaints, and reputation analysis
Old American Insurance Company gets mixed feedback. People often praise agents for being kind and explaining things clearly. But, some say issues arise when claims get complicated.
Google reviews average around 3.5 out of 5 from about 74 reviews. Some customers love their agents for being patient and helpful. Others complain about slow responses when they need more documents.
Business Review listings show a different picture. The company has an A rating with the Better Business Bureau, despite some complaints. Three negative posts on the BBB site mention disputed claims and long wait times.
Yelp has over 20 negative comments about auto claims. People often talk about claims being denied or payments being changed. Searching for “Old American Insurance Company ripoff” brings up stories about claims disputes.
Many complaints are about slow claims and poor customer service. But, some praise the agents for their help, saying they’re great with seniors.
To protect yourself, check agent credentials and ask for references. Keep records of all claim talks. If a problem lasts, go to your state’s insurance department and keep all your documents.
Here’s a quick comparison of what people say to help you decide.
| Source | Typical Feedback | Actionable Tip |
|---|---|---|
| Google reviews | Average rating ~3.5/5; mixed praise for agents; reports of slow claim responses | Read multiple reviews, note repeat themes, call agent before purchase |
| BBB listings | A rating with several BBB complaints and some one-star reviews citing claim disputes | Check complaint resolution details and timelines on the BBB profile |
| Yelp and forums | Multiple negative auto claims posts; frustrated drivers describe denials or reduced payouts | Document accident details, get third-party estimates, and follow up in writing |
It’s good to look at reviews and talk to agents directly. An agent with a good track record might be more helpful. Be realistic about how long claims take and ask for clear steps when you file one.
Comparing Old American to competitors and industry alternatives
Old American offers whole life final expense plans with fixed premiums. These plans are designed for seniors. They like the personal service from an agent and simple benefit limits.
How Old American’s whole life final expense plans compare to major carriers
Old American limits final expense policies to up to $25,000. They sell mostly through agents. Big carriers like New York Life offer more face amounts and health checks.
Older applicants with health issues might find Old American more predictable. But, younger, healthier buyers might prefer big carriers for lower rates.
Auto insurance alternatives for bundling home and auto with larger insurers
Old American Indemnity targets high-risk drivers. Big insurers like State Farm offer discounts for bundling. They also have easy online tools.
Ask for combined quotes to compare. Look at discounts, claims apps, and billing ease.
When to choose a traditional vintage insurance provider versus a modern insurtech
Choose a vintage provider for stability and agent support. Insurtechs are good for fast, online service. It depends on what you value more.
Here’s a quick guide to help you buy:
- Rate sensitivity: get five quotes to compare.
- Service preference: pick agents for personal service.
- Digital needs: test online tools for payments and claims.
- Bundling priority: ask for discounts for home and auto.
- Risk profile: check underwriting for high-risk drivers or health issues.
| Feature | Old American | Large National Carriers | Insurtechs |
|---|---|---|---|
| Distribution | Agent-driven, limited online enrollment | Agents plus direct channels | Direct-to-consumer online |
| Final expense benefits | Up to $25,000, guaranteed level premiums | Wider benefit ranges, varied rates | Flexible limits, rapid quotes |
| Bundling home and auto | Limited bundling through group | Robust multi-policy discounts | Selective partnerships with home carriers |
| Policy management | Agent-assisted account handling | Full online portals and mobile apps | Seamless digital policy management |
| Best for | Seniors seeking guaranteed, agent-led plans | Consumers wanting wide product choice and discounts | Tech-first buyers hunting quick binding and low friction |
Pros and cons, and analysis of “Old American Insurance Company ripoff” concerns
When picking an insurer, people look for the good and the bad. This part talks about what’s good and what’s not. It also shows how to tell if complaints are real problems or just one-off issues.
Key advantages
Old American has guaranteed premiums for whole life policies up to $25,000. This is great for seniors who want steady costs. Kansas City Life’s A.M. Best rating of A- (stable) shows they are financially strong. Their auto insurance is for high-risk drivers, helping those hard to insure.
Key drawbacks
Online reviews show both good and bad. Some people are happy with their agents, but others are upset about long wait times and no online services. This makes it hard for those who want to manage their policies online.
Understanding ripoff concerns
Concerns about ripoffs often come from claims issues and unmet expectations. But, the company is regulated and has a good financial rating. This means they likely follow the law and are not fraudsters. Yet, it’s wise to read negative reviews carefully before buying.
How to evaluate legitimacy
- Check if they are licensed in your state.
- Look at the A.M. Best report and Kansas City Life’s financials.
- Ask for policy details to compare.
- Keep all communication and receipts.
Dispute resolution pathways
If you have a problem, start with the company’s internal appeal. If that doesn’t work, talk to your state’s insurance department. For car issues, you might need small claims court or an independent appraisal. Always keep a record of your interactions and follow the company’s deadlines.
| Aspect | Positive signal | Warning sign | Recommended action |
|---|---|---|---|
| Financial strength | A.M. Best A- via Kansas City Life | Ratings change over time | Check latest A.M. Best report before buying |
| Product features | Guaranteed level premiums for final expense | Limited online policyholder tools | Request paper illustrations and ask about payment options |
| Customer experience | Positive feedback about agents and personalized service | Complaints about claim delays and responsiveness | Document interactions and escalate when needed |
| Regulatory signals | State filings and BBB activity | Public complaints visible on review sites | Verify licensing and file complaints with regulators |
| Resolution options | Internal appeals and agent escalation paths exist | Time-consuming external dispute processes | Follow insurer timelines and prepare evidence for escalation |
Conclusion
Old American Insurance Company offers a great choice for seniors and families. They provide guaranteed whole life final expense coverage and help with customizing policies. They are backed by Kansas City Life and have an A.M. Best A- rating.
They also have reliable cash-value plans for kids and special auto coverage for high-risk drivers in some states. This is through Old American Indemnity.
Choosing Old American means you get guaranteed benefits and personalized service. But, you might miss out on online policy management and have mixed reviews from customers. Auto shoppers should think about the focus on high-risk drivers and compare with other big carriers.
For the best advice, get quotes from Old American and at least four others. Ask for detailed life policy information and auto coverage options. You can call 866-233-7091 or email [email protected] for auto quotes.
Next steps include checking the A.M. Best rating and recent financials. Talk to a licensed agent for comparisons. Keep good records during claims and use your agent to help with disputes.
These steps will help you find the right balance between guaranteed benefits, service, and online ease. This is important when picking your protection.
