Amica

• High Financial Strength Rating
• Free Quote and Online Application
• Term Life Insurance Coverage
• Permanent Life Insurance

High Financial Strength Rating

Amica has earned high financial strength ratings from A.M. Best. Financial strength ratings are good indicators of a life insurance company's ability to meet its claims obligations. High ratings show that a company is financially strong.

Free Quote and Online Application

You can log onto the Amica website and quickly request a free quote. In order to request a life insurance quote, you must fill in the following health and personal information:

• Coverage period
• Coverage amount
• Health rating
• Last time you used tobacco or nicotine in any form
• Whether you have any significant medical concerns
• Gender
• Birthday
• Height
• Weight
• First name
• Last name
• Street address, city, state, zip
• Phone number
• Email address
• Whether you are currently an Amica customer

After you are done, the company automatically gives you a quote and provides several alternatives. The online quote tool is simple and easy to use. You can apply for Amica life insurance online as soon as you have seen the quotes.

Once you've applied for a life insurance policy, your application will go through underwriting to determine the risk of insuring you and what the rates would be. Underwriting often includes a medical exam. However, Amica waives underwriting in some cases if you already qualify for their best rates based on your answers to your health questionnaire.

Term Life Insurance Coverage

A term life insurance policy offers coverage for a set period of time. Once the period is over, you no longer have insurance coverage. Terms typically range from 10 to 30 years. Amica offers three term life insurance options:

• Guaranteed Level Premium
• Guaranteed Level Protection
• Conversion Option

The Guaranteed Level Premium option has fixed premium rates throughout the term of your policy. The Guaranteed Level Protection policy allows you to maintain the same level of coverage through age 95 as long as your premiums are paid. The Conversion Option allows you to change your term policy into a permanent one even if your health changes.

When you buy a term life policy, you can add a Terminal Illness Rider. With this rider, policyholders can receive some of the death benefit in advance if they're diagnosed with a terminal illness.

Permanent Life Insurance

Permanent life insurance offers coverage for your entire lifetime as long as you continue to pay your premiums. The other advantage of permanent life insurance is the ability of these policies to accrue cash value over time. The cash value is considered an asset. As you consider permanent and term life insurance, keep in mind that permanent life insurance premiums tend to be more expensive than term life insurance policies because of the additional features permanent life insurance policies have.

Amica offers two kinds of whole life insurance policies:

• Guaranteed Level Premium
• Guaranteed Level Protection

These options function the same way as their term life counterparts. The only difference is that these policies last a lifetime and build cash value. Policyholders can access the cash value if they surrender the policy before they could file a claim or borrow from their life insurance policy.

Amica's whole life insurance policies also have an early benefit provision for when the insured is diagnosed with a terminal illness with less than a year to live.

• Requires Medical Exam for Underwriting
• No Universal Life Insurance

Requires Medical Exam for Underwriting

No medical exam is required when you get a quote from the company's website. Keep in mind that if you decide to go through with the application, you'll likely have to go through a medical exam for the underwriting process that then determines the risk of insuring you and what your monthly premium cost will be. While slightly inconvenient, it may help you qualify for a lower rate. The good thing is that the exam is done at Amica's expense.

Medical exams are required for by most life insurance carriers unless you're applying for a guaranteed acceptance policy. While inconvenient, you'll find similar processes at other companies.

No Universal Life Insurance

Amica does not offer universal life insurance. Universal life insurance is another kind of permanent insurance. It offers more flexibility when determining premium payments and investment choices. Because there is more risk with the cash value of these policies, the premium rates are typically lower than whole life insurance. If you want this kind of insurance policy, you'll need to consider another life insurance carrier.