Americo Final Expense Insurance Review (2026)

Americo sells final expense whole life insurance called Eagle Select through licensed agents. It covers ages 40 to 85 with $5,000 to $50,000 of coverage, uses health questions and database checks instead of a medical exam, and gives an instant decision. The trade-off is that the application decides your tier: two tiers pay the full benefit from day one, while the third has a two-year graded benefit and lower limits.

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Americo final expense at a glance

What final expense products does Americo sell?

Americo sells one final expense whole life series split into three tiers. The facts below come from Americo's Eagle Select reference sheet (November 2025) and its Eagle Select agent guide (January 2026). Both are labeled for agent use, but they are Americo's own published descriptions of the product.

Americo's life insurance page says the rate you start with on its whole life stays the same, and your policy cannot be canceled because of age or health, as long as you pay premiums. The one exception in Eagle Select is the smoker option described below, where you can choose to pay more after year 3 to keep your full benefit. The agent guide says Eagle Select premiums are payable to age 100.

You do not pick your tier. The agent guide says the application starts with the top tier and, based on your health answers and third-party checks of your prescription history and MIB records, offers Eagle Select 1, 2, or 3, or declines you. It also lists conditions that lead to a decline, such as Alzheimer's or dementia, ALS, an organ transplant, or hospice care in the last 12 months. The build chart shows, for example, an acceptable weight range of 116 to 292 pounds at 5 feet 8 inches.

A few more details from Americo's materials:

• $40 annual policy fee on every tier.
• Accelerated Benefit Payment Rider on tiers 1 and 2 at no premium. If you are diagnosed with a terminal illness and expected to live 12 months or less (24 months in Illinois, Massachusetts, and Texas), Americo can advance part of the death benefit, up to $20,000. The agent guide says an administrative fee of up to $250 applies, and the advance becomes a lien on the policy that accrues interest.
• No preneed guarantee. Americo's disclosure says the policy does not specifically cover funeral goods or services and may not cover the whole cost of a funeral. Your beneficiary can use the money for any purpose.
• State differences. Americo says products and riders may vary by state and some are not available everywhere.

How does the Americo waiting period work?

Non-nicotine Eagle Select 1 and 2 policies have no graded period. The death benefit is level for the life of the policy, so the full face amount is payable from the start, subject to the normal contestability rules in any life policy.

Eagle Select 3 has a graded death benefit in policy years 1 and 2. According to the agent guide, a natural death in that window pays the premiums you have paid plus interest at a rate equal to the number of months since the policy was issued; for example, 7% in month 7 or 20% in month 20. An accidental death pays the full face amount at any time, and from year 3 on the policy pays 100% of the face amount.

For example, a hypothetical Eagle Select 3 policyholder who had paid $600 in premiums and died of an illness in month 10 would leave roughly $660 (premiums plus 10%), not the full face amount. Ask the agent to show you the graded benefit wording in the policy for your state before you sign.

How does the Quit Smoking Advantage work?

Smokers placed in Eagle Select 1 or 2 get a nicotine policy billed at non-nicotine rates for the first three policy years, according to Americo's Quit Smoking Advantage FAQ. If you prove you have been nicotine-free for 12 consecutive months before the third policy anniversary, the benefit and premium stay level. If you don't, the default is that the death benefit drops starting in year 4 while the premium stays the same. You can instead choose to keep the full benefit and pay a higher premium.

To understand how graded benefits compare across products, see our guide to guaranteed issue vs. simplified issue.

How strong is Americo financially?

Americo reports an A (Excellent) financial strength rating from AM Best for Americo Financial Life and Annuity Insurance Company, dated January 2026, on its Who We Are page. AM Best's scale has 15 ratings from A++ to F, and A is the third highest. A rating reflects the insurer's ability to pay its obligations; it does not measure service or price.

Americo also notes that the company, formerly The College Life Insurance Company, was founded in 1946. Its holding company, Americo Life, Inc., describes itself as one of the largest independent, privately held insurance companies in the U.S., citing AM Best asset rankings from July 2025.

What about complaints?

The NAIC collects complaints filed with state insurance departments. Search "Americo Financial Life and Annuity Insurance Company" in the NAIC Consumer Insurance Search to see its complaint index by year. An index of 1.00 means complaints are in line with what you'd expect for the company's size; higher means more, lower means fewer. The index covers all of the company's lines, not only final expense. We could not retrieve a stable figure to quote here, so please check the current number.

Pros and cons of Americo final expense

Pros

• Non-nicotine tier 1 and 2 policies pay a level death benefit with no graded period.
• Coverage up to $50,000 on tiers 1 and 2 through age 75, and up to $40,000 at ages 76 to 85.
• Issue ages start at 40 and run to 85 on tier 1.
• Accelerated Benefit Payment Rider for terminal illness included on tiers 1 and 2.
• Americo publishes how the tier 3 graded benefit is calculated, and accidental death pays the full amount.
• Optional child and grandchild term rider on all tiers.

Cons

• Tier 3 has a two-year graded benefit, a $25,000 cap, and a top issue age of 75.
• Smokers who don't prove they quit see a lower death benefit from year 4 unless they pay more.
• A $40 annual policy fee applies to every policy.
• Sold through agents; not available in New York.
• No guaranteed issue option in the Eagle Select series, so some applicants will be declined.

Who is Americo a good fit for?

Americo may fit you if you are 40 to 85, in fair to good health, and want a level benefit from day one with up to $50,000 of coverage ($40,000 if you are 76 or older). It may also suit smokers who are ready to quit, because of the Quit Smoking Advantage.

You may want to look elsewhere if you have a condition on Americo's decline list, are over 75 and don't qualify for tier 1 or 2 (tier 3 stops at age 75), smoke and don't plan to quit, or live in New York. If health is a major concern, a guaranteed issue policy may be the only option, and our guide to life insurance with pre-existing conditions explains what to expect.

What are the alternatives to Americo?

If you want guaranteed acceptance, see our Corebridge guaranteed issue review. For other simplified issue options, read our Mutual of Omaha final expense review and Foresters PlanRight review. You can also compare carriers in our list of final expense insurance companies, or read up on final expense insurance for seniors over 70.