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Business Profile

Life Insurance

Americo Life Inc.

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Life Insurance.

Complaints

This profile includes complaints for Americo Life Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see

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Americo Life Inc. has 2 locations, listed below.

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    Customer Complaints Summary

    • 91 total complaints in the last 3 years.
    • 25 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:04/09/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I’ve had a account with this company for 4 years now & every year they send me a statement saying my cash surrender value has decreased I called and they re assure me everything is fine and they made a mistake … I call today and they lady tell me I only have $80 in the account when I’ve been paying 80 for the last 5 years into this account never missed a payment. Americo originally informed me that is a life insurance policy but if I don’t die or use the benefits in 30 years I will receive a full refund of all payments made over the course of the term. I asked the lady how is it possible to get charged for monthly expenses on a life insurance policy she refused to answer the question. I couldn’t speak with a supervisor either just totally unprofessional.

      Business Response

      Date: 04/11/2025

      In compliance with state and federal privacy laws, we are required to restrict access to policy information to the policy owner.  Since the documents we have been provided do not contain authorization from the policy owner to deal directly with and release policy information to your offices, we will be providing our response directly to the policy owner.  The act of filing a complaint with your offices does not imply authorization by the complainant to deal directly with the Better Business Bureau. 

      If a written authorization by the policy owner to respond directly to your offices exists please provide a copy to our offices.  If the authorization allows, we will be glad to provide information directly to you concerning the policy.  To further save time, you may e-mail the authorization to me at [email protected].  Otherwise, our response will be sent directly to the complainant under separate cover.

      Sincerely,
      ******* *******
      Regulatory Compliance Department
      Americo Life 

    • Initial Complaint

      Date:04/04/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      A former employee of American Income Life who worked for Americo contacted me pretended to still work for AIL told me that he could give me give me a better rate. I had a whole life policy with AIL. I found out in March 2025 that I did not have a whole life policy with Americo that I had term. I was lied to and I never received a copy of my policy. If I would have had a copy of the policy, or if I was told it was term they were offering me I would have never signed up with him. The lady from Americo informed me that the person who sold the policy (I believe ***) is no longer employed with me. I would like all monies back that I paid into the policy for false advertising/misrepresenting what I was buying.

      Customer Answer

      Date: 04/18/2025

      I have a letter from Americo dated April 8 stating that they are restricting policy access to the policy to me because  BBB does not have the authorization. I can grant you the authorization so they can deal with you.  The letter states that they hope to complete their research in 10 business days. Please send me the authorization form so that you can have access. The correspondence was sent from ******** ******. I will send over a copy as well.

      Business Response

      Date: 04/21/2025

      In compliance with state and federal privacy laws, we are required to restrict access to policy information to the policy owner.  Since the documents we have been provided do not contain authorization from the policy owner to deal directly with and release policy information to your offices, we will be providing our response directly to the policy owner.  The act of filing a complaint with your offices does not imply authorization by the complainant to deal directly with the Better Business Bureau. 

      Our response was sent directly to the complainant under separate cover on April 15, 2025, and they should be receiving it shortly.  If signed authorization to release policy information to the BBB exists, please forward that to our office and I will be happy to provide you with a copy of our reply.

      Sincerely,
      Regulatory Compliance Department
      Americo Life 

    • Initial Complaint

      Date:03/03/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I contracted for a life policy that guaranteed 6.25% interest and was informed in December 2024 that they spent all my premiums and wanted to increase my guaranteed monthly rate by three times . I want what I was guaranteed.

      Business Response

      Date: 03/04/2025

      I am writing in reference to the above inquiry our company received from you concerning *** ****** life insurance policy.

      In compliance with state and federal privacy laws, we are required to restrict access to policy information to the policy owner.  Since the documents we have been provided do not contain authorization from the policy owner to deal directly with and release policy information to your offices, we will be providing our response directly to the policy owner.  The act of filing a complaint with your offices does not imply authorization by the complainant to deal directly with the Better Business Bureau. 

      Our response was sent today directly to the complainant under separate cover, and they should be receiving it shortly.  If signed authorization to release policy information to the BBB exists, please forward that to our office and I will be happy to provide you with a copy of our reply.

      Sincerely,
      ******* ********
      Regulatory Compliance Department
      Americo Life 

      Customer Answer

      Date: 03/05/2025

      I have never received a policy only a hand written explanation of the policy. I authorize you to get the policy information that was never provided to me.

      Business Response

      Date: 03/12/2025

      *** ****** statement to the BBB advises that he never received a policy, only hand-written explanation of the policy.  Our records indicate the policy contract was sent to his address of record after issue via mail on December 31, 2003.  *** **** also signed and returned a delivery receipt dated January 19, 2004 acknowledging receipt of the contract.  Today, I sent *** **** a copy of the original policy contract as well as the signed delivery receipt for his records. 

      Thank you, 

      Customer Answer

      Date: 04/14/2025

      Have received my first copy of the policy. Have responded as prescribed on the first page. The policy doesn't match the policy I signed for in December. I have indicated that I want to cancel the policy because it didn't represent what I signed for. The receipt that they added the date to was signed in December as response to the page I had previously sent you that described the policy.

    • Initial Complaint

      Date:02/27/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I received a letter telling me that despite trying to sign up for a policy that I had been denied for whatever reason (I don’t remember exactly what it was) then little did I know that they still were taking transactions out of my bank account. Why are you taking money out of my account while after denying me a policy and never even sending me an insurance card or anything! I’m furious.

      Business Response

      Date: 02/28/2025

      I am writing in reference to a letter our company received from you concerning the above referenced policy.

      In compliance with state and federal privacy laws, we are required to restrict access to policy information to the policy owner.  Since the documents we have been provided do not contain authorization from the policy owner to deal directly with and release policy information to your offices, we will be providing our response directly to the policy owner.  The act of filing a complaint with your offices does not imply authorization by the complainant to deal directly with the Better Business Bureau. 
       
      If a written authorization by the policy owner to respond directly to your offices exists please provide a copy to our offices.  If the authorization allows, we will be glad to provide information directly to you concerning the policy.  To further save time, you may e-mail the authorization to me at **.  Otherwise, our response will be sent directly to the complainant under separate cover.

    • Initial Complaint

      Date:02/24/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      In June of 2023, my father and I added a second plan to his current life insurance policy, while changing the beneficiary in the first policy. July 30, 2024 my father passed due to respiratory failure, pneumonia, and coronary artery disease. Since then, Americo has fought me at every turn. Using underlying terms to not uphold their end of the policy. Americo claims the policy is void due to a question being answered incorrectly. The problem here is there is more than 1 question unanswered and has nothing to do with the passing of my dad.. My father and I added this policy over the phone and Americo took my money as if the policy was correct for over a year. Then upon my fathers unsuspected passing, Americo claims he would never have received the policy had it been filled out correctly. First myself nor my father filled out the policy, that was their agent. Second, he had an existing policy which they did pay on but not to me. As referenced prior I was made the beneficiary on both the old and new policy. Americo has been sent a "LOI" and I will continue to pursue and bring light to their antics, both in the legal and public spectrum.

      Business Response

      Date: 02/26/2025

      I am writing in reference to a letter our company received from you concerning the above referenced policy.

      In compliance with state and federal privacy laws, we are required to restrict access to policy information to the policy owner.  Since the documents we have been provided do not contain authorization from the policy owner to deal directly with and release policy information to your offices, we will be providing our response directly to the policy owner.  The act of filing a complaint with your offices does not imply authorization by the complainant to deal directly with the Better Business Bureau. 

      Our response was sent directly to the complainant under separate cover on February 26, 2024, and they should be receiving it shortly.  If signed authorization to release policy information to the BBB exists, please forward that to our office and I will be happy to provide you with a copy of our reply.

      Sincerely,
      ******* ********
      Regulatory Compliance Department
      Americo Life 

      Business Response

      Date: 02/28/2025

      POLICY: **************                **************

      Dear BBB:

      Our records indicate that Heather Ayres has provided authorization for Americo to respond directly to the Better Business Bureau (BBB) regarding the claims decisions on two policies insuring her father, ****** * *****, who passed away on July 30, 2024.  Please note that Americo has provided 3 detailed responses to *** ***** including contract documentation.

      Policy ending ***** – This application for life insurance was signed June 6, 2023, and issued effective June 21, 2023.  The insured passed away during the 2-year Contestable Period as outlined in the contract.  Therefore, medical records were ordered and reviewed to determine if the answers on the application for life insurance provided by *** ***** were accurate as of the date the application was completed.  As summarized in multiple detailed responses to *** ***** had our Underwriting Department known the true facts of *** *****’ health history at the time of application, he would not have been issued this policy as applied for.  *** ***** was named as the beneficiary of this policy, however, due to the material misrepresentation, the policy was considered null and void from inception, and no proceeds are payable under this policy.   A full refund of premiums has been provided. 

      Policy ending ***** – This application for life insurance was signed April 15, 2022, and issued effective April 28, 2022.  As the insured passed away after the 2-year Contestable Period, a review of medical records to confirm the application content was not necessary.  This death benefit was paid to the named Beneficiary ***** ** ***** (child of insured).  *** ***** was not named as the beneficiary under this policy and therefore no funds are due to her.
      If the BBB has any questions, please feel free to contact us.  

      Customer Answer

      Date: 03/10/2025

      I’ve hired a lawyer 

    • Initial Complaint

      Date:02/17/2025

      Type:Customer Service Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I can’t get ahold of the customer service at all it just keeps saying there offices are closed and it’s 11:30pm est so they should be open I just want to cancel my policy I can’t even access said policy online and I never signed anything and they are taking money from me I just want it cancelled and my money back.

      Business Response

      Date: 02/18/2025

      Hello,
      we apologize for the negative experience you've had. Can you please contact us directly with your policy number and the best contact information to reach you
      at. If you prefer to contact us directly please submit a correspondence to [email protected]. Thank You for allowing us the opportunity to
      assist you.

    • Initial Complaint

      Date:02/15/2025

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I've recently discovered I have been having an unauthorized payment of $157.80 a month to Americo from my account with **** ***** credit union account. This payment did not originate from me and had been deducted for over a year. My attempts at having my bank stop these payments were not successful. They wanted me to pay to have a stop pay put on the account. When contacting Americo it resulted in me being blocked from receiving any information. The information in the policy has been altered by the insurance company so I can't access it. It is my belief that this is a strategy used by the agent who opened the policy fraudulently. The independent agent area rep *** ***** was adamant that I used my checking account on the policy payment refusing a debit card or to let me mail payments monthly. I would appreciate any help getting these payments refunded and this company investigated as my bank stated any investigation would have to be at my expense. Sincerely ******** * *****

      Business Response

      Date: 02/18/2025

      I am writing in reference to a letter our company received from you concerning the above referenced policy.

      In compliance with state and federal privacy laws, we are required to restrict access to policy information to the policy owner.  Since the documents we have been provided do not contain authorization from the policy owner to deal directly with and release policy information to your offices, we will be providing our response directly to the policy owner.  The act of filing a complaint with your offices does not imply authorization by the complainant to deal directly with the Better Business Bureau. 

      Our response will be sent directly to the complainant under separate cover. If signed authorization to release policy information to the BBB exists, please forward that to our office and I will be happy to provide you with a copy of our reply.

      Sincerely,
      ******* ******* 
      Regulatory Compliance Department
      Americo Life 

    • Initial Complaint

      Date:01/21/2025

      Type:Billing Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      RECEIVED VERIFICATION LETTER AS CONFIRMATION OF AUTO BANK DRAFT ISSUED ON 12/10/2024 ON 12/15/2024 POLICY LAPSED ALTHOUGH THEY HAD BANK ACCOUNT IFORMATION

      Business Response

      Date: 01/22/2025

      In order to better assist you please provide a policy number for the policy and we will be glad to provide you with a thorough review of your account. If you wish to contact us directly please submit your request to **********************************

      Sincerely, 

      Regulatory Compliance 

      Customer Answer

      Date: 01/22/2025


      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, attached you will find the policy number. You should have in your files, ****** gave you permission for me to communicate on her behalf, unless its lost, like other documents, that have been submitted.

      Sincerely,

      ******* *******

    • Initial Complaint

      Date:08/25/2024

      Type:Billing Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      This complaint is in conjunction with my wife's (****** ********) regarding the same matter. I am completing a complaint since my release of information may also be needed and the origin of the policy complaint is in my name. Last year, without our knowledge, my wife and I were signed up for a health policy that what was sold to us. Additionally, Agent ****** ******* instead signed us up for life insurance. We never heard the words "life insurance" nor did we provide the beneficiaries or consent needed for such a policy. Furthermore, we never signed anything electronically or otherwise for this policy. Upon realization that my wife was signed up for life insurance, she promptly cancelled it in August of 2023. We made it explicitly clear we did not agree to this to the agent and fired him. My wife revoked auto draft consent (which was for health insurance NOT life insurance), connected to my account. Yet I was charged for a policy I did not realize existed until a few weeks ago when I received a letter from Americo in the mail the only mail I have ever received regarding this matter). I have asked Americo for my policy documents (which I cannot view online due to them being under my wife's email and she cancelled her policy), but are still waiting. I want to see the supposed "signatures" on our application and policy documents that WE NEVER PROVIDED. We have spoken to Americo and tried reaching out the agent, who has obviously gone silent and has made no attempts to rectify this, as demonstrated in the texts attached. We are out thousands are requesting a full refund. The agent falsified his address, presumably to get the application processed and approved in GA (he is based in FL). My wife and I have consulted with our attorney and will pursue legal and other necessary action, including contacting media outlets, should this not be addressed. This is fraud, plain and simple. We will not rest until this matter is resolved.

      Business Response

      Date: 08/28/2024

      August 28, 2024

      POLICY(S):
      ************** (******* ********)
      ************** (******* *******)

      Dear BBB:

      Thank you for allowing Americo Financial Life and Annuity Insurance Company (Americo) this opportunity to address the above individuals concerns.

      Americo has researched their files and provided a detailed response with documentation of the applications completed with writing agent ****** ******* in July 2023.  Due to the private nature of the information contained in our response, we have sent our letter via mail directly to *** ******* and *** ******** addressing each of their concerns.  This letter was sent today, August 28, 2024.

      If the BBB has any additional questions, please contact our office directly.


      Sincerely,

      ******* ** ******** AIRC, ACS
      Senior Compliance Manager

      Customer Answer

      Date: 09/17/2024

      The fact that I was not aware and not once ever talked to our rep about signing up for life insurance is unfathomable.  This should be something to be considered. The text clearly stated not once did we speak about it and agreed to look into a plan. 

    • Initial Complaint

      Date:08/22/2024

      Type:Billing Issues
      Status:
      Resolved
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Hello sorry to inform you that this company Americo life ins has illegally taken money out of my account for life insurance. do not know how they got this authurization. i did not sign up for this and am very upset. I emailed them and have not heard back. I have nine payments of around 48 dollars each. I am dissabled and am struggaling to survive. I did not need that money taken from my account. I have heard people having the same problem with this Americo life. I think they got this info when I sighned up for goverment health care. they still call and text me every day so frustrating.Any help would be great these people are using some kind of scam

      Business Response

      Date: 08/30/2024

      I am writing in reference to a letter our company received from you concerning the above referenced policy.

      In compliance with state and federal privacy laws, we are required to restrict access to policy information to the policy owner.  Since the documents we have been provided do not contain authorization from the policy owner to deal directly with and release policy information to your offices, we will be providing our response directly to the policy owner.  The act of filing a complaint with your offices does not imply authorization by the complainant to deal directly with the Better Business Bureau. 
      Mr. Gibbons email was received on August 20, 2024 and our response will be sent directly to Mr. Gibbons. If signed authorization to release policy information to the BBB exists, please forward that to our office and I will be happy to provide you with a copy of our reply.

      Sincerely,
      ******* *******
      Regulatory Compliance Department
      Americo Life 

      Customer Answer

      Date: 08/30/2024


      Better Business Bureau:

      I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

      Sincerely,

      ***** *******

    Americo Life Inc. is NOT a BBB Accredited Business.

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