Founded in 1969, Amica Life Insurance Company is a subsidiary of Amica Mutual, a Rhode Island-based mutual insurance company that has been in business for over a century. Amica life insurance is licensed in all states and sells term and whole life insurance nationwide.
Business Insider has compared Amica against the best life insurance companies on the market, and we found it to be a strong contender worth considering.
Amica Life Insurance Overview
Amica Life Insurance is a solid choice if you only need basic term or whole life insurance coverage and want to save money by bundling multiple insurance policies with the same company.
Amica currently offers discounts ranging from 10% to 30% if you bundle your life insurance policy with other Amica insurance products, such as auto, home, and condo insurance. The more policies you bundle together, the higher the discount. For example, you're eligible for up to a 10% discount on your Amica auto policy when you bundle with life, but the discount goes up to 30% when you bundle auto, home, umbrella, and life insurance policies.
The multi-policy discount is just one of the many things to like about Amica. The company also has strong customer reviews and an A+ (superior) financial strength rating from AM Best, which means they're a reliable and stable insurance provider you can trust.
Amica's life insurance products are also pretty budget-friendly. For example, a $250,000 20-year term life insurance policy starts at approximately $11 per month for a healthy 25-year-old.
That said, because Amica does not sell universal or variable life insurance and offers only one add-on, it's not the best option if you're looking for a comprehensive and customizable life insurance policy to cover your insurance needs.
Amica Life Insurance Plans Available
Amica only offers term life and whole life insurance policies and does not offer universal or variable life insurance.
Term Life Insurance
Term life insurance provides protection for a limited amount of time. With Amica, you can choose a term of 10, 15, 20, 25, or 30 years and get anywhere from $100,000 to $1 million in coverage if you pass away during the covered period. In most cases, no medical exam is required to qualify.
Your rate and coverage amount will stay the same throughout the selected period of time. Amica also allows you to convert this policy to a permanent policy regardless of your health condition.
Whole Life Insurance
Unlike term life insurance, whole life insurance is a permanent policy that provides protection for your entire lifetime as long as premiums continue to be paid. Amica's whole life policies range from $25,000 to $1 million. As you make payments, these policies also build cash value — a portion of a permanent life insurance policy that earns interest and can be accessed during your lifetime.
Amica offers three whole life insurance options:
- Whole Life 20. With this option, you'll complete making your premium payments after 20 years. and your policy is guaranteed for the rest of your life. It's available to individuals who are up to 80 years old at the time of issue.
- Whole Life 65. Premium payments are complete at age 65 with this plan. You're only eligible if you're under the age of 50 at the time of issue.
- Whole Life 100. With this policy, premium payments finish when you reach age 100. It's the most affordable option of the three, but it's restricted to applicants who are 80 or younger.
Additional coverage options from Amica life insurance (Riders)
When you buy life insurance, most insurance companies allow you to add optional insurance endorsements (riders) to your policy for additional coverage. At Amica, all policies already come with a free terminal illness rider, which pays out a portion of the death benefit while you're still alive if you're diagnosed with a terminal illness.
However, unlike some other major insurers that offer a range of optional riders to customize your policy, Amica only provides this one rider, so you won't have as many options to tailor your coverage.
How Much Does Amica Life Insurance Cost?
Amica provides quotes for term life insurance online, but you must contact Amica to get a quote for whole life coverage.
Below are the monthly premiums for a 20-year, $250,000 term life insurance policy from Amica to give you a better idea of what to expect.
Age | Women | Men |
25 | $11.46 | $12.95 |
30 | $11.89 | $13.37 |
35 | $12.31 | $14.01 |
40 | $16.13 | $19.10 |
50 | $31.63 | $40.54 |
How to Purchase and Manage an Amica Life Insurance Policy
- Determine how much coverage you need. Everyone's situation is unique, and the amount of life insurance coverage you need will depend on factors like your lifestyle, how many kids you have, where you live, your debts, and future plans. Nonprofit organization Life Happens provides an online life insurance calculator to help you estimate the amount of life insurance coverage you may need.
- Apply for life insurance. Amica lets you apply for a term life policy online, but for whole life insurance, you must apply through an Amica agent by phone at 800-234-5433 or in person due to their higher level of complexity.
- Undergo a medical exam. No medical exam is required for term life insurance if you meet specific underwriting criteria based on the amount you applied for. However, you'll typically need to undergo a medical exam for whole life insurance.
- Wait for approval. Once the application process is complete, Amica's underwriter will take the information gathered from your application and medical exam to determine if you're eligible for coverage. If approved, Amica will send you policy documents to review and sign.
- Review and update your life insurance coverage. Your life insurance needs may fluctuate with time, so you'll want to review your coverage regularly to ensure you're adequately protected and that you're not paying more than necessary.
How to file a claim with Amica Life Insurance
As the beneficiary, you or your representative can file a death claim in one of two ways: By reporting the claim online or by calling 800-234-5433, ext 89079, and asking for Life Claims.
To proceed with the claim process, you'll need information regarding the manner and cause of death, as well as a certified copy of the death certificate. In some cases, Amica may also ask for medical history information, including doctors' names and medical treatments. An Amica representative is there to help if you have any questions.
Amica Life Insurance Customer Service and Support Experience
Amica provides a friendly and efficient customer service and support experience. You can contact their customer support team via phone, chat, email, and physical mail. Plus, the company has an extensive online resource hub where you can find answers to questions about each product line and service.
On Trustpilot, Amica has earned a solid 4.5 out of 5 stars from around 4,100 reviews. While few of these reviews pertain to Amica's life insurance policies, the general feedback is quite positive, especially about their customer service. One reviewer praised the company, saying: "Amica's best feature by far is their customer service. I think they're competitive on price for sure, but I can't believe how helpful and well-trained their phone representatives are."
According to the National Association of Insurance Commissioners (NAIC), there have only been a total of two complaints submitted about Amica in the past three years.
Amica Life Insurance Alternatives
Amica vs. State Farm Life Insurance
If you're looking for a life insurance company that offers more comprehensive and customizable policies than Amica, consider State Farm Life Insurance. State Farm gives you a wider range of life insurance products to choose from, including term, whole, and universal, with various rider options for customization. Some of the riders they offer include Accidental Death Rider, Children's Term Rider, and Accidental Death Rider.
Like Amica, State Farm also offers multi-policy discounts, allowing you to save money by bundling your life insurance policy with their other insurance products. Neither company offers online quotes for whole life insurance, and you'll need to speak to an agent to apply for a policy.
Read our State Farm life insurance review.
Amica vs. Prudential Life Insurance
Prudential Life Insurance offers term life insurance with higher coverage amounts and more customization options compared to Amica. Their Term Essential® policy provides coverage anywhere from $100,000 to $65 million+, and it is available to anyone between 18 and 75 years old. If you're under 60 and the coverage amount is less than $3 million, you may not need a medical exam to apply.
Additionally, Term Essential® lets you customize your coverage with four riders, including Accidental Death Benefit, Children's Protection Rider, Living Needs Benefit Rider, and Waiver of Premium Rider.
However, if customer satisfaction is important to you, Prudential's high complaint index score of 7.65 from the National Association of Insurance Commissioners can be a dealbreaker, as it suggests more complaints than average. In comparison, Amica has a much lower score of 0.66 in 2023.
Read our Prudential life insurance review.
Amica Life Insurance FAQs
Amica is a solid option to consider since it offers both term life and whole life coverage at competitive rates. The company has also received strong customer reviews and a positive financial strength rating from AM Best.
You can contact Amica's customer service team at 800-234-5433. They're available Monday through Friday from 8 a.m. to 5:30 p.m. ET. You can also use the live chat option on its website to contact the claims, sales, and customer service departments. The live chat is available from 8 a.m. to midnight ET on weekdays and from 10 a.m. to 5:30 p.m. on Saturdays.
Yes. If, for any reason, you need to cancel your Amica life insurance policy, contact their customer service team at 800-234-5433, extension 89075. You'll be connected to an Amica representative who'll help you cancel the policy.
Why You Should Trust Us: What Went Into Our Amica Life Insurance Review
All of our life insurance company reviews are rated based on our expert's insurance rating methodology to ensure objectivity. The factors we considered when rating our best life insurance products include the following:
- Customer satisfaction
- Financial stability
- State coverage
- Ethics
- Policy types
- Average premiums
- Waiting periods
- Standard exclusions
- Agent training
To create this Amica life insurance review, we compared Amica's life insurance policies and coverage options to life insurance policies from a wide range of insurers. We also used information from customer review websites and other online resources to make our review as unbiased as possible.
Learn more about Business Insider's life insurance rating methodology.
