American National Life Insurance Review

Looking at American National for life insurance? You may want to think again.

American National discontinued life insurance sales effective 5/31/2025. This review covers the life insurance products they offered and their life insurance underwriting.

American National, also known as ANICO, was founded in 1905. For over a century, the company has offered a range of life insurance and financial products to individuals, families, and business owners across the United States.

But in a major shift, American National stopped selling new life insurance policies on May 31, 2025. While they continue to service existing policies, no new coverage is currently available.

Despite halting new sales, American National remains financially stable and continues to honor existing policies. Here’s how major rating agencies have scored them:

• AM Best: “A”
• S&P: “A”
• Fitch: “A”

Over the years, we have witnessed several companies discontinue sales. The pattern we see happen with most companies is a series of announcements over time that:

• New sales are no longer allowed.
• The company will continue to service policies.

Here’s what tends to happen: Conversion options tend to decrease over time, and the company may eventually sell the block of policies to another company.

You may want to shop for comparisons to companies that still sell life insurance.

Although American National no longer offers new life insurance, here’s what they provided before exiting the market. This may be helpful if you already own a policy.

Annual Renewable Term (ART) and Level Premium Term products are available.

• Minimum Face – $100,000
• Issue Ages:
  • ART – 18-65
  • 10-year term – 18-70
  • 15-year term – 18-65
  • 20-year term – 18-60
  • 30-year term – 18-50
• Underwriting rate classes:
  • Preferred Plus
  • Preferred
  • Standard Plus
  • Standard
  • Preferred Nicotine
  • Standard Nicotine
• Conversion available
• Conversion credit
• Policy changes are not allowed except for conversion
• Riders:
  • Children’s Term Rider
  • Disability Waiver of Premium
  • Accelerated Benefits for Critical, Chronic, and Terminal Illness

The maximum accelerated death benefit is $2,000,000 for individuals ages 0-65, and $1,000,000 for individuals age 66 or older.

• Terminal Illness benefits are available for individuals with a 12-24-month life expectancy.
• Chronic Illness benefits are available when you can’t perform 2 out of 6 activities of daily living.
• Some critical Illnesses will also qualify for benefits.
• The minimum policy size that can be accelerated is $25,000 for terminal illness, $50,

Other term life insurance competitors include Banner Life, Transamerica, Corebridge Financial, Protective Life, SBLI, and Symetra.

American National offers universal life insurance and whole life insurance.

• Signature Guaranteed Universal Life
  • Issue ages – 18-80 (75 for nicotine)
  • Minimum Face – $25,000
  • Guaranteed death benefit to age 120 possible
  • Underwriting rate classes:
    • Preferred Plus
    • Preferred
    • Standard Plus
    • Standard
    • Preferred nicotine
    • Standard nicotine
    • Under $250k requires standard rate classes
    • Riders:
      • Guaranteed Cash-Out Rider
      • Disability Waiver of Stipulated Premium
      • Children’s Term Rider
      • Accelerated Benefit Riders

American National had one of the most affordable Guaranteed Universal Life (GUL) products. Numerous options are available with John Hancock, Pacific Life, Protective Life, Prudential, and other providers.

• Signature Performance Indexed Universal Life
  • Issue ages – 0-85
  • Minimum Face – $25,000
  • Underwriting rate classes:
    • Preferred Plus
    • Preferred
    • Standard Plus
    • Standard
    • Preferred Nicotine
    • Standard Nicotine
    • Standard Plus & Preferred available at ages 18+
  • Death benefit options:
    • Level
    • Increasing
    • Return of Premium
  • Multiple Interest crediting options
  • Riders:
    • Disability Waiver of Premium
    • Disability Waiver of Stipulated Premium
    • Children’s Term Rider
    • Guaranteed Increase Option Rider
    • Overloan Protection Benefit Rider
    • Accelerated Benefit Riders

Top companies for index policies include Corebridge Financial, Lincoln Financial, North American, Prudential, and Nationwide.

• Signature Whole Life
  • Issue ages – 0-80 (75 for nicotine)
  • Minimum Face – $10,000
  • Dividend Options
    • Cash
    • Premium Reduction
    • Dividend Accumulation
    • Paid-Up Additions
  • Riders:
    • Accelerated Benefit Riders
    • Disability Waiver of Premium
    • Children’s Term Rider
    • Guaranteed Insurance Option Rider
    • Paid-Up Addition Rider
    • Signature Term Rider

If you’re looking for the best whole life policies in the market, consider Mass Mutual, Guardian, Northwestern Mutual, New York Life, or Penn Mutual.

Other companies that offer smaller whole life policies include Illinois Mutual and Assurity.

Term life insurance from American National typically ranked in the top 10 for price, and their Guaranteed Universal Life (GUL) product was competitive.

You may reach customer service

• Phone: 800-899-6806
• Online: here
• Address: 1 Moody Avenue – Galveston, Texas 77550

American National was a strong player in the life insurance space, especially for guaranteed universal life and accelerated living benefits. Although the company has exited the market, policyholders can rest assured that their coverage remains in force.

If you’re shopping for life insurance today, you’ll want to look elsewhere. But if you already have an American National policy, it’s likely a solid one.