Financial Strength & Ratings

American Amicable’s A rating and A+ BBB rating reflect robust financial strength and customer trust.

Oxford Life also holds an A (Excellent) from AM Best, but its outlook was revised to negative in 2024 due to internal control issues, though these are reportedly being addressed.

Policy Types Offered

American Amicable offers a wider selection, including term, whole, universal, and final expense policies.

Oxford Life focuses on whole life (especially single premium), final expense, annuities, and Medicare supplements, mainly for seniors.

Coverage Options & Flexibility

• American Amicable:
  • Term coverage: $25,000–$250,000 (renewable to age 95)
  • Final expense: Up to $50,000
  • Universal life: Flexible premiums and death benefits
  • No-medical-exam options and quick approvals
• Oxford Life:
  • Final expense: $5,000–$30,000 (lower max for ages 76–80)
  • Single premium whole life: $30,000–$500,000 (ages 55–80)
  • Annuities: $10,000–$20,000 minimums, up to $1,000,000 max
  • No-medical-exam, immediate decision for many policies

Underwriting & Application Process

• American Amicable:
  • Simplified issue underwriting; most policies require only basic health questions, not a full exam.
  • Fast, agent-assisted applications, especially for final expense and term products.
• Oxford Life:
  • No medical exams for final expense and single premium whole life; only a medical questionnaire.
  • Immediate approval decisions during a point-of-sale interview for many products.

Pricing & Affordability

• Both companies are known for competitive pricing, especially for seniors and those seeking smaller policies.
• American Amicable is particularly affordable for tobacco users and offers level premiums that never increase.
• Oxford Life’s final expense premiums are competitive, but some products (like annuities) have high minimum premiums, which may not suit all budgets.

Alternatives to Consider

• Mutual of Omaha: Renowned for affordable term and final expense coverage.
• Banner Life: Competitive for healthy applicants.
• Prudential, State Farm, Guardian Life: All highly rated for affordable and comprehensive coverage.

Riders & Customization

American Amicable stands out for its wide range of riders, including critical illness, disability income, and a unique grandchild rider.

Oxford Life offers essential riders like terminal illness and common carrier, but fewer customization options overall.

Best For…

• American Amicable:
  • Clients of all ages seeking affordable, no-exam term, whole, or universal life insurance.
  • Seniors wanting flexible final expense coverage with customizable riders.
  • Those needing quick, simplified issue policies.
• Oxford Life:
  • Seniors (ages 50–85) seeking final expense or single premium whole life coverage.
  • Clients looking for annuities or Medicare supplement plans.
  • Those wanting immediate decisions and no medical exams.

Pros and Cons

Customer Experience & Support

• American Amicable:
  • Generally positive reviews for smooth application, responsive customer service, and easy claims process.
  • BBB rating of A+; some complaints about premium increases, but overall satisfaction is high.
• Oxford Life:
  • Fewer complaints reported to the NAIC, indicating good customer satisfaction.
  • Not ranked in J.D. Power’s customer satisfaction index, likely due to smaller market share.
  • Focused, personal service for seniors; however, recent internal control issues have led to a negative financial outlook.

Final Verdict

American Amicable is a strong choice for those seeking affordable, flexible life insurance with a variety of policy types and riders. Its simplified underwriting and reputation for customer service make it appealing for families and seniors alike.

Oxford Life is best suited for seniors looking for straightforward final expense or single premium whole life insurance, or those interested in annuities and Medicare supplements. Its products are easy to apply for, but coverage amounts are lower and some products have higher entry costs.

Bottom line:
If you want broad policy choices, customization, and flexibility at a competitive price, American Amicable is likely the better fit. If you’re a senior looking for simple, no-exam final expense or single premium coverage—and you’re comfortable with lower coverage limits—Oxford Life is worth considering. Always compare quotes and policy features to ensure you get the best value for your needs.