Americo vs Royal Neighbors of America
For clients seeking affordable life insurance, Americo and Royal Neighbors of America stand out for their competitive rates, simplified applications, and flexible options. Both companies have a long history and a reputation for serving middle-income families and seniors, but their approaches, benefits, and member experiences differ in meaningful ways.
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Customer Reviews
Americo
Americo Financial Life and Annuity Insurance Company is one of the largest privately held independent insurers in the U.S., with roots dating back over a century. Americo offers a broad range of life insurance products through independent agents, focusing on affordability and ease of application, especially for seniors and families.
Royal Neighbors of America
Founded in 1895, Royal Neighbors is a fraternal benefit society with a mission to insure lives, support women, and serve communities. While not-for-profit, it offers life insurance and annuities to its members, along with community programs, scholarships, and grants. It is especially known for its focus on women and community impact
Financial Strength & Ratings
| Company | AM Best Rating | S&P Rating | Assets (2023) |
|---|---|---|---|
| Americo | A (Excellent) | BBB (Stable) | $9.1 billion |
| Royal Neighbors | A (Excellent) | Not rated | $1.19 billion |
Both companies are rated “A” (Excellent) by AM Best, indicating strong financial stability and claims-paying ability.
Policy Types Offered
| Product Type | Americo | Royal Neighbors |
|---|---|---|
| Term Life | Yes (15, 20, 25, 30 yrs) | Yes (10, 15, 20, 30 yrs) |
| Whole Life | Yes | Yes |
| Universal Life | Yes (including indexed) | Yes |
| Final Expense/Burial | Yes | Yes |
| Single Premium Life | No | Yes |
Coverage Options & Flexibility
Americo:
- Term: $25,000–$450,000, convertible with return of premium
- Final expense: $2,000–$30,000
- Indexed universal: Up to $450,000 no-medical with living benefits
Royal Neighbors:
- Term: $50,000–$5 million
- Whole life: $25,000 minimum (adults); youth from $10,000
- Final expense: $7,000–$30,000 simplified issue
Underwriting & Application Process
Americo: Instant decisions via e-app, no medical exams for most under $450,000, MIB & Rx checks.
Royal Neighbors: Simplified issue with brief health interview, policies issued within 1–2 days, flexible app methods.
Pricing & Affordability
Americo: Final expense starts around $40/month for a 50-year-old man. Level premiums. Strong for smokers.
Royal Neighbors: Final expense starts ~$25/month for healthy seniors. Known for leniency with diabetes and flexible options.
Alternatives to Consider
- Mutual of Omaha
- AIG
- Liberty Bankers Life
- Trinity Life
- Family Benefit Life
Riders & Customization
Americo: Critical/chronic/terminal illness riders included. Additional options: children’s term, accidental, unemployment waiver, waiver of premium.
Royal Neighbors: Accelerated death, accidental death, charitable giving, grandchild rider.
Best For…
| Company | Best For |
|---|---|
| Americo | Seniors, smokers, fast approvals, flexible term/universal plans |
| Royal Neighbors | Seniors, moderate health issues, member perks, community focus |
Pros and Cons
| Company | Pros | Cons |
|---|---|---|
| Americo | Instant decision, strong for smokers, wide product mix | Not BBB accredited, smaller face amounts for some plans |
| Royal Neighbors | Strong member benefits, lenient underwriting, top-rated customer satisfaction | Not in all states, lower coverage for final expense |
Customer Experience & Support
Americo: Service by phone and email. Mixed reviews, not BBB accredited, A rating from AM Best.
Royal Neighbors: Strong BBB feedback, Forbes-ranked, and offers scholarships/grants to members.
Final Verdict
Americo is best for fast approvals, higher coverage, or favorable pricing for smokers. Royal Neighbors is excellent for community-focused applicants seeking lenient underwriting and member perks. Both offer great final expense options, but the best choice depends on your health and feature needs.
FAQs: Americo vs. Royal Neighbors of America Life Insurance
Blake Insurance Group
Phone: (888) 387-3687
Email: [email protected]
Hours: Mon-Fri 9:00 am to 5:00 pm
Sat-Sun: Closed
Blake Nwosu
Owner & Principal Agent