American National Insurance Company (ANICO) Review

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With competitive pricing and a wide range of policy types including no exam coverage, American National is a solid choice for life insurance.

A.M. Best




Standard & Poor’s


The Good

  • Financial security
  • No exam coverage
  • Competitive pricing
  • Wide policy selection
  • Additional insurance products

The Bad

  • Lack of brand recognition
  • Few customer satisfaction ratings
  • Vague policy information online
  • Limited financial strength ratings

Product Availability

Policy Types
  • Term
  • Universal
  • Indexed Universal
  • Guaranteed Universal
  • Whole
  • Accelerated death benefit
  • Child protection
  • Disability waiver
  • Guaranteed cash-out

Review Breakdown





Financial Strength


User Experience


Product Availability





Your choice of a life insurance company will hinge on several factors, but it ultimately comes down to value.

You should choose the provider that offers you the most value at the lowest cost possible.

Each company weighs risk factors differently, so your rates could be far lower with one company than another.

In terms of affordability, American National, or ANICO, scores high. The company offers some of the most competitively priced policies for applicants across several demographics.

One of the top companies for no exam life insurance, ANICO touts competitive policies that allow consumers to apply without completing a medical exam.

Financial Strength

Financial strength is another important marker of a strong life insurance company.

Since your family’s financial future could depend on your policy, it’s important to pick a provider that is solvent.

To assess a company’s financial stability and ability to pay out claims to its policyholders, we can look at their performance and financial strength ratings.

American National has $29.5 billion in assets and more than 5 million policyholders.

ANICO has an “A” rating from both A.M. Best and Standard & Poor’s, two of the most esteemed independent rating agencies.

However, the company is not rated by Fitch or Moody’s, which contributed to a lower financial strength score.

Regardless, ANICO’s “A” ratings and performance suggest the company is in good shape with a stable outlook for the future.

User Experience

User experience is another factor worth considering as you choose a company.

Ideally, you should be able to purchase a life insurance policy, manage it, and file a claim quickly and easily.

You can gauge a company’s user experience by looking to their consumer reviews, online resources, and application process.


American National does not have a rating from the Better Business Bureau, nor is it accredited.

Likewise, ANICO is not included in the annual J.D. Power survey of life insurance companies, which ranks the nation’s best life insurance companies based on clients’ responses.

While ANICO’s lack of ratings does not discount it as a customer-friendly provider, these indicators can add to a company’s credibility.


American National’s website is easy to navigate. It provides new users with important information about the company’s leadership and values.

It also provides transparent financial reports and press releases.

When it comes to policies, the website offers basic overviews of each of its coverage options. While these descriptions are easy to access and understand, they don’t give many specifics about the policies on offer.

Policyholders can easily pay bills, file claims, and download policy forms on the site.


ANICO is somewhat vague about its application process as well, encouraging you to connect with a local agent to get the ball rolling.

Though you can get quotes for some of the company’s other insurance products, you need to contact an agent to get a life insurance quote or apply for coverage.

The company does offer an accelerated underwriting program that allows you to skip the medical exam for term life insurance up to $1 million depending on the applicant’s health and age.

Eligibility for accelerated underwriting is based on the applicant’s application responses and medical records.

Whether or not you have to undergo a medical exam, the application process is completed with the assistance of an agent.

Product Availability

American National’s life insurance lineup features several term and permanent policy options.

With a versatile mix of products, the company has suitable policy options for most family’s needs.


American National offers term life insurance in several flexible term lengths, starting as low as 1-year annual renewable terms and extending to 30-year terms.

These affordable policies come with level premiums and several rider options, such as an accelerated death benefit rider.

If you need to switch to permanent coverage later in life, these policies are also convertible, providing even more flexibility.

Keep in mind that the company’s no exam term policies are among the best, as well.


If you need permanent coverage but still want to maintain some flexibility, ANICO offers universal life insurance.

These policies come with a cash value investment account in addition to the policy’s face amount, with an interest rate set by the company.

You can access this account while you’re alive. Universal policies also allow you to adjust both your premiums and the amount of your death benefit as your needs change.

Like the term policy, ANICO’s universal coverage comes with a handful of riders to extend coverage, such as a disability waiver and children’s insurance.

Indexed Universal

You can also purchase an indexed universal policy through ANICO for more investment growth.

With an indexed policy, cash value growth is based on a stock index, like the S&P 500.

The indexed option comes with the same flexible premiums and policy benefits, allowing you to tweak your coverage as you go.

It also offers a slew of riders for even more customization.

Guaranteed Universal

If you don’t care about cash value growth but want an affordable alternative to whole life insurance, ANICO’s guaranteed universal policy could be a good fit.

Guaranteed universal life combines the best of both worlds, offering some of the flexibility of a term policy and the lifelong promise of a permanent plan.

You can set your coverage to end at a certain age or leave it in place for life.

It also comes with a guaranteed cash-out rider, allowing you to access your cash value and walk away from the policy if you no longer need it.


The most expensive option, whole life insurance is all about the guarantees.

The policy’s premiums and face amount are locked in from day one.

As long as you don’t let the policy lapse, you’ll have lifelong coverage.

While they aren’t guaranteed, you may also be paid dividends as a whole life policyholder.


American National has opened its doors to insurance shoppers for more than a century.

Cotton farmer William Moody, Jr founded the company in 1905 to assist servicemen and women with life insurance.

ANICO was founded in Galveston, Texas, which is still home to its headquarters today.

In 1950, ANICO made the first of many acquisitions to diversify its business, purchasing the Commonwealth Life and Accident Insurance Company of St. Louis, Missouri.

Over the last century, the company has continued to expand its products to include:

  • Annuities
  • Auto insurance
  • Business insurance
  • Health insurance
  • Life insurance
  • Property insurance

Today, ANICO operates in all 50 states, as well as Guam, Puerto Rico, and American Samoa, with more than 4,600 employees.

The company is publicly traded under the ticker symbol ANAT on the NASDAQ.

Despite being a stock-held company open to the public, the majority of shares are still owned by the Moody family, via the Libby Shearn Moody trust and the Moody Foundation.

Brand Recognition

Despite its longstanding history in the insurance industry and its size, American National is a name you may not be familiar with.

The company does not have a very recognizable brand, nor does it make many efforts to promote its philanthropic efforts or accolades.

ANICO appears to have a presence on some social media platforms, including:

  • Facebook
  • Instagram
  • Youtube

The company’s Instagram feed is empty, while its official Facebook account posts sporadically to its 9,000 followers.

ANICO appears to be most actively engaged and popular on Youtube, with a series of marketing and educational videos garnering lots of views.


When you evaluate a life insurance company, you should consider more than one expert opinion.

Our ranking system factors in reviews from numerous authoritative sources in the life insurance industry to gauge the consensus towards a company.

American National doesn’t make everyone’s list of top providers, but that can be largely attributed to the company’s lack of brand recognition and consumer ratings.

While ANICO comes up short in these areas, it offers competitively priced policies backed by financial stability.

If affordability is your main concern or you’re considering a no exam policy, American National could be worth considering.

American National Insurance Company (ANICO) Review

(409) 763-4661
One Moody Plaza
Galveston, TX 77550

Company Name (and subsidiaries)

  • American National Life Insurance Company of New York
  • American National Life Insurance Company of Texas
  • Standard Life And Accident Insurance Company
  • Garden State Life Insurance Company


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.