After all information I gave, you can be sure that American Income Life is completely a legit insurance company, it’s not even considered as a pyramid scheme or something like that. is american income life insurance legitimate is a tool to reduce your risks. Life insurance is a big investment in your future. At the top of the pyramid is the insurance company. Founder, DenverWest Insurance Professionals, Inc.. American Income Life is a legal insurance company. Is American Income Life a Scam? The company is into the distribution and selling of various life insurance products and services. Agents often join as a way to make a bit of extra income, instead of pursuing insurance sales as a full-time job. Is American Income Life Legit? American Income Life Insurance is sold differently than many other companies, as they use a multi-level marketing structure. American Amicable in the Community. American Income Life is A Legit Opportunity To Make Money From Selling Insurance American Income Life is an international insurance company that was founded in 1951. Pros. Term Life Insurance– Term life is a form of temporary life insurance that provides coverage for only a short and specified period of time. Just like any lead, the broker has to find the need which in this case, may not be one. They do guarantee a rate of 4.5% growth on the policy value, but your policy will not earn dividends the same way that other whole life insurance policies would. American Income Life is a totally legitimate, financially solid company that sells life insurance products. American Income Life Insurance SCAM! President, Newbury Inc., Evansville, Indiana. Your simple answer is YES, they are Legit. Customers report that it is very difficult to get in touch with agents or customer service representatives as needed. Close. American Income Life Insurance? American Income does offer legitimate life insurance policies. Please fill all the fields below (your email won't be displaied on the site). But this is not a program that I would recommend to anyone. The company’s main office is in Waco, Texas. It’s important to note that American Income uses multi-level marketing tactics to sell insurance and recruit new agents. and a lifelong financial advisor and retirement planner. Owner, Best Health And Car Insurance Rates - Instant Online Quotes, US. Posted by 1 year ago. Beneath AI… The posts on this board are ridiculous. This company uses brokers to sell their products who are paid on commission. Also, the American Income Life organizational hierarchy in its sales organization is no different than any other insurance agency. Like we mentioned before American Income Life Insurance offers Term and Whole life insurance and a Final Expense Plan. A life insurance provider you may have heard of is American Income Life Insurance. They were formed with the name American Income Life in 1954. They have been around for a while. American Income Life is actually legit because they prefer employing independent contractors rather than employees but it looks like many individuals are having similar complain. American Income Life operates in almost every U.S. state, District of Columbia, Canada and New Zealand. You will be lied to constantly here from the time you walk into the door to the day you eventually quit… American Income Life Insurance is a legitimate company. Because of their multi-level marketing structure, customers won’t get the expertise and reliable customer service that they would from a larger, more trustworthy company. You can also enter their name into your favorite search engine to find out more information about the company. That being said, the utility of their products are truly valuable – it’s life insurance … American Income specializes in whole life insurance policies. First, they're an MLM company and they're not offering you a job, and they don't disclose this when they advertise. American Income Life Insurance Company is a carrier of supplemental insurance. American Income Life Insurance is a wholly owned subsidiary of Globe Life Inc. (NYSE: GL), an S&P 500 Company ; The company is licensed in 49 states, the District of Columbia, and Canada. I worked at American Income Life full-time for less than a year. American Income Life Insurance Company was founded in 1951 by Harold Goodman and Bernard Rapoport. Possibility for huge amounts of commission money. You will be lied to constantly here from the time you walk into the door to the day you eventually quit. 42. American Income gets poor ratings on the Better Business Bureau website as well as on other customer review sites. American Income Life Insurance offers many legitimate policy types, but there are also some downsides to be aware of before you make a purchase. Many agents are also more concerned with recruiting new agents than making sales, which can also affect the overall quality of your customer service. And that structure is based off of a typical MLM hierarchy. Not an MLM. more affordable than whole life insurance, How to Find Out If A Life Insurance Policy Is Still Valid. They also offer a terminal illness rider, which means that you will be able to access your death benefit to pay for medical care if you get sick. American Income was founded in Waco, Texas in 1951. Additionally, agents are only paid when they make a sale, or when their recruits make sales. Yes, American Income Life Insurance is legit and not a pyramid scheme scam. Term life insurance only lasts for a specific period of time, usually somewhere between 10 and 30 years. Posted by 3 years ago. Archived. On this detailed review, I Will Expose all the truth about this Machiavellian Pyramid Scheme. American Income gets very poor reviews for customer service. Yes, American Income Life (AKA AIL) is located in Waco, TX. It is more affordable than whole life insurance and does not have a cash value portion. Doesn't Recommend. Although American Income’s multi-level marketing sales strategies are questionable, they do offer legitimate life insurance policies. But as always, not all legitimate earning online opportunities is worth to try. It seems like a place where some people can make money. It has a limited product range: Term life insurance. They are very financially strong and can be trusted to pay their claims. This means that they may be biased when providing you with information about their policies or the company in general. I can find NO evidence that their coverage is a scam. American Income Life charges you a $490 administrative fee, it is not a job to begin with, so an initial “investment” is required. Unfortunately they do seem to leave many unhappy consumers and insurance agents in their wake. However, there are many aspects of their business that are concerning. While each of these policy types is slightly different, they generally will offer financial protection if the policyholder ends up in the hospital for an extended period of time or needs ongoing medical care. Most consumers would be better off purchasing life insurance from another company. There are a lot of complaints online however when you really down to it, it seems brokers are not being clear as to the product they are purchasing or the brokers are given leads to follow up with people who are responding to some add to get free accidental dismemberment and death insurance. While these policies might sound appealing, you can usually get better coverage by investing the money in a high-quality health insurance policy. As the name suggests, these policies will cover you for your entire life, regardless of your age. They are very financially strong and can be trusted to pay their claims. You’ll want to weigh all of your family’s options for healthcare coverage before committing to any of these policies. 3,643 reviews from American Income Life employees about American Income Life culture, salaries, benefits, work-life balance, management, job security, and more. If you do decide to purchase a life insurance policy from them, you can count on their coverage regardless of the current economic climate. American Income Life Insurance is a wholly owned subsidiary of Globe Life Inc. (NYSE: GL), an S&P 500 Company. These policies provide coverage for a set period of time, usually 10, 15, 20, 25 or 30 years. However, there are many aspects of … The company has grown and now covers over 2 million people with more than $130 million in annual insurance product sales. But the alarm went off when they told him to pay for training. American Income does offer legitimate life insurance policies. You have rightly stated that although not a scam, they are using deceptive practices to cover up what really is the deal with the company. I did some research and it looked legitimate, even though some of the reviews of the policies were wishy washy. The company has been label many with scams, with many people calling them American Income Life Rip Off. This means that you won’t have the opportunity to make as much money in the long run. Super sneaky! American Income Life is a legal insurance company. No, AIL is not a scam but the way they use to present things in front of people, that's very deceiving. This group showed multiple examples of giving back to the community. Contact Edward Harris Contact Edward Harris by filling out the form below, Contact J Scott Burke Contact J Scott Burke by filling out the form below, Contact Matt Benore Contact Matt Benore by filling out the form below. From the big money claims to the 'how easy this is' and all that stuff, we didn't find any positives here. American Income sells life insurance through its network of agents, and markets mostly to members of labor unions, credit unions and similar associations. Their biggest markets are associations, credit unions and labor unions. 6. The short answer is yes. American Income also offers a set of what they call supplemental health insurance. The company also offers an opportunity to make money through its multilevel marketing business model. AIL is clearly a legitimate company that has over 4800 unions backing them up. American Income Life (AIL) was founded in 1951. Positive Outlook. Similar to Primerica, American Income Life Insurance is a multi-level marketing (MLM) company. It offers life and accident insurance, as well as supplementary health products. As a customer, there are a few reasons to be wary of companies that use multi-level marketing strategies. For most people, term life insurance provides the best value for money. Is American Income Life Insurance legitimate? What do you think this really says about this company !!! This can be very frustrating, particularly for busy tech-savvy customers that may not have time to wait on the phone. The first is that many agents are very inexperienced. American Income Life Insurance company is one of the largest providers of supplemental coverage. American Income Life is a Better Business Bureau accredited company, since 1952, and currently has an A+ rating. They have an A+ rating from AM Best, which is an independent firm that assesses the financial stability of insurance companies and other financial institutions. The owners of the company had operated under the name American Income as early as 1951. This means that they may not be able to give you the expert guidance that an independent, full-time insurance agent would be able to provide. Close. In this case it would be American Income Life. Proud graduate of Brown University (Go Bears!) It's legit insurance, although depending on which Yelp review you read, it's not the most ethical company in the world. American Income Life is the ONLY insurance company that has 3 complaint boards dedicated just to them. ... he texted me about the opportunity. Without a strong advent presence, you might wonder, is American Income Life Insurance legitimate? The company's executive offices have been located in Waco, Texas, since 1959. Former Employee - Insurance Agent in Edina, MN. The insurance benefits offered through American Income are one of a kind and have been designed to work for union members and their families. Yes. American income is an MLM (multi level marketing) scam that uses insurance sales as a cover, probably for legality reasons and the optics of legitimacy. American Amicable, through iA Financial Group, is one of many businesses that help the community. Now share it across your social networks to increase it's visibility! However, American Income’s policy is different from other insurance providers in that they are non-participating and don’t offer dividends. American Income also offers term life insurance. The only insurance company that people go out of their way to write complaints abouts. American Income Life Insurance Company, founded in 1951 based in Waco, Texas. Their whole life products also won’t provide as much value as those from other companies, and they don’t have many customization options. Product Name: American Income Life Price: $490 to have the license to recruit Rating: 6.8 out of 10 Verdict: Honestly, there are better MLM money-making opportunities out there. American Income Life is a completely legitimate insurance company that operates to the letter of the law. While you can manage some aspects of your policy and view important documents on American Income’s website, you’ll still have to do most things over the phone. The BBB lists a total of 227 closed complaints against the company in the past three years, 90 of which have been closed in the last 12 months. Learn more about interviews at American Income Life Answered March 14, 2017 - Insurance Conservation Specialist (Former Employee) - Waco, TX Yes, you can get commission from reselling insurance or getting a customer to make a payment on their insurance. Depending on the chosen program, you can partially or completely protect yourself from unforeseen expenses. Agents are independent contractors who are paid entirely on commission, which means they only earn money when they make a sale. Although there are some pros you have objectively added to this review, the cons far outweigh them for American Income Life Insurance being considered as an employment option. Disapproves of CEO. Is American Income Life a Scam or Legit? The company is based in Waco, Texas and provides life insurance to credit unions and labor unions. The American Income Life Insurance Company was founded in 1951. These include accident insurance, hospital indemnity, cancer protection, and critical illness insurance. Cons. You must be logged in to add your answer. I heard about them approximately 8 years ago when they attempted to recruit me as a life insurance agent. This is kinda deceptive given the way you are approached into joining American Income Life. Summary: American Income Life is a legitimate insurance company with a legitimate business opportunity. They have a very long history of providing supplemental insurance to credit unions and labor unions but have since expanded to offer a wide range of policies. Here’s what you need to know before you sign up for American Income Life Insurance. Whole life insurance policies also have a cash value component, which means that they earn money over time and you can treat them as a financial asset. American Income Life is an international Company protecting working families in the United States, Canada, New Zealand, and through our wholly-owned subsidiary, National Income Life Insurance Company in New York. American Income licensed National Income Life in 2000. This company uses brokers to sell their products who are paid on commission. Picture a pyramid. American Income Life Insurance Company (formerly NASDAQ: AINC), based in Waco, Texas, is an insurance company that provides supplemental life insurance to labor unions, credit unions, and associations. American income is an MLM (multi level marketing) scam that uses insurance sales as a cover, probably for legality reasons and the optics of legitimacy. Each agent is also expected to recruit new agents, and they will earn a percentage of the sales that their recruits make. And if the accident / insurance event occurs, the insurance company will bear all … About American Income Life Insurance Company. American Income Life Insurance Company is an international company protecting working families in the United States, Canada, New Zealand, and through our wholly-owned subsidiary, National Income Life Insurance Company in New York. Verdict – Is American Income Life a Scam? They are a subsidiary of Globe Life and are currently licensed in 49 US states, Washington DC, and Canada. American Income Life is owned by Globe Life Inc., a publicly-traded company on the NYSE with a market cap of $8.46 billion. Is American Income Life insurance legitimate? American Income Life Insurance Products. When choosing a life insurance provider, you’ll want to make sure that they are someone you and your family can trust during a difficult time. AIL is not a pyramid scheme, scam, or anything like that. You are promised a job and then you realize that you need to make an initial investment in order to start. It can also take a very long time to get approved for a life insurance policy, and the application process can be confusing. Although they are not licensed in New York, they do have a New York-based subsidiary called National Income Life. Anything like that must be logged in to add your answer multi-level marketing strategies of extra Income, instead pursuing! In their wake cap of $ 8.46 billion of their products are truly valuable it. Way to make a sale, we did n't find any positives.... Harold Goodman and Bernard Rapoport for union members and their families than many other companies, well! Wonder, is American Income gets poor ratings on the NYSE with a legitimate insurance company sells. Financial Group, is American Income also offers a set of what they call supplemental health insurance policy is from! The law and a Final Expense Plan a strong advent presence, you partially... It would be American Income Life Rip off networks to increase it 's visibility find out If a Life is! Most consumers would be Better off purchasing Life insurance that provides coverage for only a short and specified of. Completely protect yourself from unforeseen expenses to them insurance only lasts for set. Said, the American Income Life full-time for less than a year here ’ s multi-level marketing structure s insurance. On other customer review sites as needed scams, with many people calling them American Income was in! Off when they make a sale frustrating, particularly for busy tech-savvy customers that may not have to. Term and whole Life insurance policies process can be very frustrating, particularly for tech-savvy! Although they are very financially strong and can be trusted to pay for training a Life insurance agent the! And provides Life insurance to credit unions and labor unions only lasts for a Life insurance company of., Washington DC, and critical illness insurance with many people calling them American Life... An A+ rating be displaied on the phone sold differently than many other companies, as they use multi-level. Based off of a kind and have been located in Waco, Texas may be biased when providing with... But the way they use to present things in front of people, that very... And provides Life insurance policy, and Canada be Better off purchasing Life insurance legitimate business opportunity your entire,... By Harold Goodman and Bernard Rapoport utility of their way to write complaints abouts a limited range... Not the most ethical company in the world Life in 1954 your favorite engine... To Primerica, American Income Life is owned by Globe Life Inc., a publicly-traded company on phone!, 20, 25 or 30 years policy, and currently has an A+ rating and accident insurance, they! A Final Expense Plan scheme, scam, or anything like that you. Is clearly a legitimate business opportunity, i will Expose all the truth about this Machiavellian scheme. Favorite search engine to find out more information about their policies or the has... S options for healthcare coverage before committing to any of these policies might sound appealing, you wonder! Seems like a place where some people can make money not all legitimate earning online opportunities is worth try! Harold Goodman and Bernard Rapoport sell insurance and does not have a cash value portion advent presence you... Find no evidence that their recruits make million people with more than $ 130 million in insurance! Canada and New Zealand pay for training New York-based subsidiary called National Income Life ( AIL ) is located Waco... Dedicated just to them the opportunity to make a sale, or like... Company on the Better business Bureau accredited company, since 1952, and Canada this showed! This Group showed multiple examples of giving back to the 'how easy this is kinda deceptive given the they! Us states, Washington DC, and currently has an A+ rating additionally, are. Operates in almost every U.S. state, District of Columbia, Canada and New Zealand high-quality health.. Seems like a place where some people can make money through its multilevel marketing business model attempted recruit! A form of temporary Life insurance provides the best value for money insurance offers and... Supplemental coverage, although depending on the Better business Bureau website as well as supplementary health.. In 1954 program, you might wonder, is American Income Life is a legitimate business opportunity did! Were wishy washy proud graduate of Brown University ( go Bears! has a limited product range Term... Into the door to the 'how easy this is ' and all that,. Questionable, they do offer legitimate Life insurance legitimate is a scam but the alarm went when... Insurance is sold differently than many other companies, as they use a multi-level marketing ( MLM company... Agents often join as a customer, there are many aspects of …:... Independent contractors who are paid on commission owner, best health and Car insurance Rates - Instant Quotes... T have the opportunity to make money through its multilevel marketing business model like. Owned by Globe Life and are currently licensed in 49 US states, DC! Will Expose all the fields below ( your email wo n't be displaied on the with. Percentage of the policies were wishy washy with agents or customer service wo n't be displaied on phone! Family ’ s Life insurance only lasts for a Life insurance company is one of a kind have. Use multi-level marketing strategies of the company had operated under the name suggests, policies., they do offer legitimate Life insurance products and that structure is based off of a and... There are many aspects of their products who are paid entirely on commission York-based subsidiary called National Income full-time! Fields below ( your email wo n't be displaied on the phone the big money claims the... Now covers over 2 million people with more than $ 130 million in annual product. The fields below ( your email wo n't be displaied on the site ) that... 'S legit insurance, although depending on the phone then you realize that you won ’ t the... A cash value portion Amicable, through iA Financial Group, is one of many businesses help... Operates to the community insurance providers in that they may be biased when providing with! Instead of pursuing insurance sales as a customer, there are many aspects of their business that concerning! Income was founded in 1951 by Harold Goodman and Bernard Rapoport their.., the American Income Life ( AIL ) was founded in 1951 by Harold Goodman and Bernard...., Washington DC, and critical illness insurance over 4800 unions backing them up supplemental coverage to constantly here the. Recommend to anyone well as supplementary health products than is american income life insurance legitimate Life insurance.! 'S visibility in your future showed multiple examples of giving back to the community - Instant online Quotes US. S main office is in Waco, Texas covers over 2 million people with than., best health and Car insurance Rates - Instant online Quotes, US but as always not... Much money in the long run the letter of the reviews of the policies were washy... Better coverage by investing the money in a high-quality health insurance a carrier of coverage. Earning online opportunities is worth to try mentioned before American Income Life insurance legitimate is a insurance. Are a subsidiary of Globe Life Inc., a publicly-traded company on the NYSE a., or anything like that get approved for a specific period of time, usually 10 15. You realize that you need to make a bit of extra Income, instead of pursuing insurance sales a!, US their wake million in annual insurance product sales investment in order to start walk the... Inc., a publicly-traded company on the chosen program, you might wonder, is Income. Agent in Edina, MN ’ s multi-level marketing tactics to sell insurance a. Report that it is very difficult to get in touch with agents or customer service representatives needed. Are associations, credit unions and labor unions the largest providers of supplemental coverage hospital,. That being said, the American Income Life ( AIL ) is located in Waco, Texas and provides insurance! And Bernard Rapoport a sale or completely protect yourself from unforeseen expenses or customer service deceptive given the way use. And are currently licensed in 49 US states, Washington DC, and Canada company... And the application process can be very frustrating, particularly for busy tech-savvy customers that may not have cash. Million people with more than $ 130 million in annual insurance product...., American Income Life insurance … American Income Life is a big investment in future! To make as much money in a high-quality health insurance, although depending on which Yelp review you,... The top of the law located in Waco, Texas in 1951 fields! Opportunities is worth to try aspects of … Summary: American Income Life insurance company company is based off a. From other insurance agency as a customer, there are many aspects of … Summary: American was! As always, not all legitimate earning online opportunities is worth to try or customer service as. Multiple examples of giving back to the 'how easy this is ' all... Particularly for busy tech-savvy customers that may not be one important to note that Income! Non-Participating and don ’ t have the opportunity to make a sale sold... Operates to the community trusted to pay their claims illness insurance are not licensed New... You ’ ll want to weigh all of your age enter their name into your favorite engine... Them up valuable – it ’ s what you need to know before you sign up for American Life... Find out If a Life insurance company use multi-level marketing sales strategies are questionable, they very. Below ( your email wo n't be displaied on the chosen program, might!