Accordia Life vs. American National: Top Life Insurance in 2024

Those looking for life insurance have plenty of options on the market, though many look the same. This guide helps compares two of the best life insurance companies, Accordia Life vs. American National.

Accordia Life and American National both have a long list of products and strong financial ratings. Read along as we break down American National Insurance and Accordia Life services.

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What types of insurance do Accordia and American National have?

Accordia is a subsidy of Global Atlantic Financial Group Limited. Accordia’s offered life insurance products are under Global Atlantic.

American National Life Insurance Company writes its life insurance. These products include whole, term, and universal.

Accordia Life Insurance

Accordia’s level premium term policy guarantees that premiums and benefits remain the same throughout the term. Available riders under this coverage type include a waiver of premiums, accidental death benefit, children’s insurance, additional insured, and terminal illness.

Other riders:

• Waiver of premium
• Waiver of premium plus
• Accidental death benefit
• Children’s insurance
• Additional insured
• Terminal illness
• Universal Life

Accordia’s Life Assure universal life is permanent with a guaranteed death benefit, cash value accumulation, and a low-interest rate. Accordia also has indexed universal life insurance, which is a very similar policy.

The difference between the two is that Life Assure applies a minimum interest rate each year, while the market determines the indexed option rates.

Some riders that go along with these policies are:

• Terminal illness accelerated death benefit
• Overloan protection
• Accelerated access rider
• Primary insured
• Additional insured
• Guaranteed purchase option
• Children’s insurance
• Accidental death benefit
• Monthly deduction deduction
• Specified premium deduction

Now let’s learn about American National.

American National Life Insurance

American National term life insurance product is called Signature Term, a fairly standard 10- to a 30-year contract. There is a no-medical exam option for those under 64 years old with limited coverage needs.

The minimum benefit from American National Signature Term life insurance is $50,000, and the maximum exceeds $1 million. Policyholders may add either a disability waiver of premium rider or a children’s term rider.

Its Signature Guaranteed Universal life insurance option is its affordable permanent life insurance option. American Nation’s guaranteed universal life insurance is a locked contract until the policyholder is over 100 years old — which means the benefits are concrete.

One cool feature about this product is the Guaranteed Cash-Out. This is a rider built into the policy that allows you to surrender your policy for a full return of premium.

The minimum benefit is $25,000 for ages 18 to 80, with the same policy riders as Signature Term.

American National’s Signature Whole Life is a permanent life insurance policy with cash value growth, death benefit protection, and a guaranteed fixed premium. This also comes with a chronic, critical, or terminal illness rider.

These policies are for newborns to 80-year-olds with a minimum death benefit of $10,000. This option has many more optional riders than its counterparts:

• Children’s Term Rider
• ANICO Signature Term Rider
• Disability Premium Waiver
• Paid-up Additions Rider
• Guaranteed Insurance Option Rider

Learn more about American National Insurance Company from our full review.

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Accordia Life vs. American National: Which has the most competitive rates?

American National doesn’t provide information on its average rates per policy. However, the Insurance Information Institute has consistently reported the cost of life insurance and annuity premiums trending downward since 2015.

How do Accordia Life vs. American National life insurance ratings compare?

Both companies have strong financial ratings from renowned third-party raters like A.M Best and S&P.

American National received an A or excellent rating from both these companies. Accordia is in a close second as it received excellent ratings from both these reviewers, but A.M. Best gave Accordia an “A-‘.”

Complaints about American National Insurance

As with most online company reviews, American National has a mixed bag of complaints and compliments. Most of the complaints from this company are related to individual claim problems.

Complaints about Global Atlantic life insurance

A common complaint about Accordia Life and Annuity Company and Global Atlantic is that life insurance policies cannot be purchased online.

Other complaints relate directly to individual claims. However, there do seem to be more complaints online than not.

Accordia Life vs. American National Life Insurance History

Accordia Life and Annuity Company is a subsidiary of Global Atlantic. In 2013, Global Atlantic Financial Group Limited acquired Aviva USA life insurance business from Athene, only to later relaunch it as Accordia Life.

American National is a publically traded holding company in all 50 states and Puerto Rico. The parent company of American National Insurance Company bears a similar name and is based in Delaware.

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Accordia Life vs. American National: The Bottom Line

Accordia Life and American National offer similar life insurance experiences with various tweaks to make their products stand out to life insurance policyholders. Do any of these products suit your needs?

Remember that when you buy life insurance, you’re planning for the future. Make sure that you are setting up a stable future for yourself and your family.

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