Amica Life Insurance Review

Based on MoneyGeek’s analysis, Amica Life Insurance Company may be an ideal option for individuals looking for term or permanent life insurance with various coverage options. Although the company offers only one term insurance product, it has many policy types under whole life insurance that you can choose based on your needs.

However, you won’t benefit much from Amica’s policies if you want a universal life insurance policy with an investment option or want multiple rider options.

MoneyGeek recommends purchasing a universal life policy from State Farm, which offers exceptional service quality and robust universal life options.

Read this Amica life insurance review to understand the policy offerings of this company to make a better decision.

MoneyGeek analyzed the 2022 Insurance Barometer Study from the Life Insurance Marketing and Research Association (LIMRA) and found that the COVID-19 pandemic increased the likelihood of 31% of U.S. adults purchasing life insurance.

Understanding the various policy options from Amica will help you decide which one will suit your needs.

Term life insurance has a set period, up to 30 years with Amica, and can be more cost-effective than whole life insurance, which lasts a lifetime. Amica offers one term life policy.

The ideal term life insurance buyer is a younger individual who needs significant protection for several years, such as to protect their family, pay off a mortgage or care for dependents. Since it has affordable premiums, it might also suit you if you’re on a budget and looking for a cheaper policy.

Whole life insurance offers permanent coverage that lasts the duration of your life, fixed premiums and a cash value that you can benefit from in case of an emergency funding need. Amica offers three whole life plans and lets you choose coverage from $25,000 to $1 million or more.

Buying whole life insurance from Amica will suit you best if you are looking for a lifelong insurance plan and want a policy that enables you to borrow against the cash value without taxation.

Amica does not offer final expense insurance, but its Whole Life 100 policy may suit older adults that want coverage to assist their families.

Final expense insurance is a great option for seniors that want to make sure their family does not have to cover the costs of a funeral or other expenses when they pass away.

A rider adds more benefits to a life insurance policy or increases coverage options. MoneyGeek explains below the rider that is available with Amica’s policies.

MoneyGeek explains in the following sections the essential tasks when purchasing an Amica life policy and what to do if you don’t get approved.

MoneyGeek gathered the following frequently asked questions so you can clearly understand the coverage details of Amica's life insurance policies.