Aflac – American Family Life Assurance Company Review

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Chances are you can picture, or better yet, hear, the Aflac duck in your head.

Few insurance carriers have as much recognition as Aflac, one of the most well known companies in America, by name.

But does a well-known name and creative ad campaign mean you can trust the company to maintain your life insurance policy?

In this American Family Life Assurance Company review, we’ll break down every aspect of AFLAC, from its history to its financial performance and products in the marketplace today.

Quick Links

  1. History
  2. Ratings
  3. Products
  4. Company Summary

Our Aflac Life Insurance Review

1955 marked the beginning of the extremely well-known insurance company, Aflac, which was originally named American Family Life Insurance Company.

By 1964, it had been renamed to American Family Life Assurance Company of Columbus, although it wasn’t coined as Aflac until 1989.

Although Aflac isn’t one of the longest standing insurance companies in America, it has without a doubt made a long-standing footprint in multiple insurance industries over the last few decades.

Aflac is one of the most reputable life insurance companies in America from a supplemental policy standpoint, working with countless businesses, big and small.

In fact, almost all of its business model is now structured through work-site (also known as payroll deduction) avenues, where employers offer a line of benefits to their employees, which are then paid directly through the employees’ paychecks.

The line of benefits offered by Aflac today includes life, health, cancer (which it was a pioneer for), accident, disability, and more products which protect families in times of hardship.

Aflac is a publicly held company, meaning it offers stock to shareholders on the New York Stock Exchange (or NYSE) under the ticker profile AFL.

The company also plays a significant role in funding events and philanthropic endeavors.

Aflac has additionally provided millions of dollars to charities for childhood cancer treatment and cancer research, one of the issues they are most passionate about.

They include:

  • Cancer research: Aflac has contributed beyond $100 million towards children’s oriented cancer research and programs.
  • Environment: With Aflac SmartGreen® initiatives, Aflac sparked a company-wide focus on renewables, recyclables, and cleaner workspaces.
  • Events: Aflac provides sponsorships for well-known events like the Grammy’s and the PGA Tour.

Financial Strength and Ratings

Aflac’s financial performance is as strong as its brand is and philanthropic efforts are.

The company boasts great ratings from the major rating institutions A.M. Best, Moody’s and Standard & Poor’s, cementing the company’s status as a reliable insurer.

Aflac has “A” ratings or better from three of the four major ratings agencies, an “AA-” from R&I (a well-known Japanese rating agency), and an excellent Comdex score.

Based on these measures, Aflac is clearly able to withstand the choppy economic waters of the financial industry and has an excellent outlook for future expansion and growth.

While these ratings are not guarantees of any kind, they are clear indications of Aflac’s solvency and claims-paying ability.

Over the years, the company has become an industry giant, now the largest supplier of supplemental insurance (including all types) throughout the United States.

With over 10,000 employees and even more affiliates, it hosts a large network of strategically planned partners.

A lesser-known aspect of Aflac is its presence in Japan, where its business has reached empire sized success.

Aflac claims “nearly 90% of all companies listed on the Tokyo Stock Exchange offer Aflac products to their employees.”

This also leads to their market share of households in Japan being more than 25%.


With Aflac, you can choose between term and whole life insurance, which are intended to serve as supplementary workplace insurance.

With Aflac’s term coverage, you get protection for a set amount of time, like 10 years, providing your loved ones with a guaranteed death benefit if you pass away during that time period.

Whole life insurance, on the other hand, comes with a death benefit and cash value and lasts for the entirety of your life, as long as premiums are paid.

These policies will be more expensive than their term counterparts.

Life insurance from the American Family Life Assurance Company (AFLAC) touts a few standout benefits applicants enjoy, like

  • No exam coverage: Aflac’s policies do not require medical exams or blood tests for coverage up to $50,000.
  • Portability: You don’t have to leave your insurance behind if you leave your workplace.
  • Juvenile policies: You can protect your children with these small policies offered by Aflac.
  • Additional riders: With features like an Accidental Death Benefit Rider, you can provide even more for your family.

Just keep in mind there is an integrated price increase for no exam policies.

These guaranteed types of life insurance allow you to get covered regardless of your health risks, as the insurer has to account for non-healthy applicants among the healthy groups.

There are other companies who offer life insurance without an exam, so you may want to consider them if you’re healthy enough to be approved, especially if you need more comprehensive coverage.

For those looking to secure many different types of insurance all in one place, Aflac may be an intelligent consideration within your insurance portfolio.

In addition to life insurance, Aflac also provides access to:

  • Accident Insurance
  • Cancer Insurance
  • Critical Illness Insurance
  • Hospital Insurance
  • Short-Term Disability
  • Dental/Vision Coverage


There’s a reason Aflac has risen towards the top of the life insurance industry.

Here are a few of the main reasons to consider purchasing an Aflac policy:

  • Financial strength: Aflac is in steady financial shape, with excellent credit ratings and a positive outlook for the future.
  • Customer experience: Aflac has below average complaints about their communication with clients and claims process.
  • Product lineup: You can customize your Aflac policy to suit your life insurance needs with an impressive suite of policies and advantageous riders.


While the benefits above are certainly worthwhile, here are a few reasons you may want to duck out of Aflac’s coverage.

  • Policy limits: Aflac’s life insurance is designed to supplement a larger insurance policy rather than to stand alone. It won’t likely be sufficient to cover major financial needs.
  • Workplace structure: Because Aflac’s policies are primarily designed for the workplace, you have to purchase these group policies with your employer, creating some limitations.

The cons above aren’t necessarily shortcomings on Aflac’s part, but simply limitations to how their policies are set up.

For more robust coverage, you’ll need to look elsewhere.

Final Thoughts

Aflac has made itself a household name not only in its branding through its massive marketing campaigns with the Aflac duck, but also by issuing in excess of 50 million policies of all insurance types in the US alone.

To decide whether or not one of Aflac’s supplementary policies is right for you, look at your life insurance needs and other options.

Before you purchase any product from any carrier, you should always do your homework, matching the product to your needs, your budget, and your level of comfort.

Take a look at alternatives to Aflac and get quotes before you commit to a policy to guarantee you get the lowest rates at your disposal.

Aflac – American Family Life Assurance Company Review

(800) 992-3522
1932 Wynnton Rd
Columbus, GA 31999

Company Name (and subsidiaries)

  • AFLAC Inc.
  • Aflac Japan


Jason Fisher

Jason Fisher is the founder and CEO of, LLC. and a multi-state licensed life insurance agent who has helped over a million Americans seek out affordable coverage, compare quotes, or get their family and businesses covered.