American National Life Insurance

American National Universal Life

A simple description of universal life insurance is that it is similar to term life insurance with an added cash value component. 

So, part of your premium will go towards your death benefit, while another portion will go towards the cash value.

The funds inside your policy’s cash value portion will earn tax-deferred interest and fluctuate over time.

Since American National discontinued term life sales, you might wonder if they even sell universal life insurance coverage.

It appears that when Brookfield Reinsurance acquired ANICO, they made a corporate decision to focus on selling only permanent coverage.

Universal life insurance is purchased by people who need coverage for their entire lifetime.

They offer various permanent protection, including two universal life products, the Executive UL and the Signature Guaranteed UL.

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Executive Universal Life

American National Insurance Company offers a product known as Executive Universal Life, which is a form of universal life insurance that combines a death benefit and a cash value component.

This policy allows the policyholder to customize their premium payments and coverage amounts based on their requirements.

The Executive Universal Life is meant for long-term cash value accumulation but lacks a no-lapse rider. 

A no-lapse rider guarantees that your universal life insurance policy will remain in force as long as a specified premium is paid, regardless of the accumulated cash value.

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Signature Guaranteed UL

We prefer ANICO’s Signature Guaranteed UL because it guarantees lifetime coverage and is often one of the cheapest policies in the market.

Despite a 6% increase in premiums in 2023, the Signature Guaranteed UL policy remains competitively priced.

With Signature Guaranteed UL, you can choose a guaranteed premium and death benefit ranging from age 95 to 105.

If you no longer require coverage, Signature Guaranteed UL allows you to access your policy’s cash value under specific circumstances.

For instance, you can surrender your policy and receive back 65% of your premiums after 15 years and 100% after 20 and 25 years.

 ANICO Indexed Universal Life

Indexed universal life insurance invests your cash value into fixed or different indexes, such as the Dow Jones, S&P 500, and the NASDAQ.

The cash value inside an IUL policy grows due to index performance, and your gains are generally capped at a certain percentage.

Indexed universal life also offers downside protection guarantees that prevent you from losing money if the market index change is negative.

American National offers two indexed products, Signature Protection IUL and Signature Performance IUL.

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Signature Protection IUL

The Signature Protection IUL policy is a versatile life insurance option offering protection and long-term financial growth.

With this policy, you can choose from various indexed strategies to maximize your potential for accumulating value over time.

We highly recommend ANICO’s Signature Protection IUL because it has a guaranteed death benefit that can be adjusted until certain ages, such as 80, 90, 95, 100, and even up to 121.

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Signature Performance IUL

The Signature Performance Indexed Universal Life is a policy provided by American National Insurance Company, which allows for flexible premium payments and offers coverage for the duration of one’s life.

This flexible premium IUL policy has a fixed account and various indexed crediting accounts. It provides a non-guaranteed death benefit and the ability to build cash values over time. 

What’s the difference between the two IUl products?

The main distinction between the two policies is that Signature Performance IUL provides two indexed crediting strategies and includes living benefits for chronic, critical, and terminal illness through accelerated benefit Riders.

Conversely, Signature Protection IUL offers five index crediting strategies based on the performance of the S&P MARC 5% Excess Return Index, Nasdaq-100 Index, and the S&P 500.

American National Whole Life

Whole life insurance is a conservative and more expensive form of permanent coverage because of its contractual guarantees and dividend potential. 

American National offers several whole-life policies that offer lifetime coverage with a fixed premium and death benefit.

Whole life also has a tax-deferred cash value that grows at a fixed rate over time and can be borrowed against in an emergency.

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Signature Whole Life

A traditional whole policy with guaranteed premiums, cash values, death benefits, and the potential for annual dividends.

Your whole life coverage can be structured to have limited payments, which means your policy can be paid up after 20 years or at 90 or 95.

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Graded Benefit Life

These expensive guaranteed issue policies are for people aged 45 to 80 with no medical questions asked.

You will need to wait two years to get a total death benefit. If you die within the first two years, the death benefit equals 110% of the premiums.

These whole-life policies have limited death benefits and are best for someone with pre-existing medical conditions.