Ameritas Life Insurance: 2024 Company Review [For Doctors]

As a medical professional, securing your financial future and that of your family is crucial. Ameritas Life Insurance understands the unique needs of people like you and specializes in providing tailored financial solutions. In this review, we’ll dig into what they have to offer, how stable they are financially, and why they could be a good choice for you.

About Ameritas Life Insurance

Established in 1887, Ameritas Life Insurance has a rich history and offers a wide variety of financial products such as life insurance, annuities, and disability income insurance. As a subsidiary of the Ameritas Mutual Holding Company based in Lincoln, Nebraska, Ameritas operates as a mutual organization, meaning it’s owned by policyholders rather than shareholders. This unique structure enables Ameritas to prioritize the needs of its customers, making decisions geared towards long-term benefits for individuals, families, and businesses who depend on their offerings and services.

As of 2024, Ameritas boasts of $83.2 billion in life insurance policies, over $2.5 billion in annual operating capital, and an impressive debt-to-capital ratio of 3.2%. With assets worth $35.9 billion, the company has consistently proven its stability and reliability.

Ameritas Life Insurance Basics

Ameritas offers several life insurance products, each designed to provide peace of mind by ensuring the financial future of your loved ones. Here are the primary types of life insurance products available at Ameritas.

Term Life Insurance

Term life insurance gives you the flexibility of affordable protection for a specific timeframe, typically anywhere from 10 to 30 years. You have the freedom to customize both the level of coverage and the length of time you’re covered.

Premiums for term life insurance policies are generally lower, making them suitable for new doctors starting their careers. As your financial status improves, you have the option to increase your coverage or convert your term policy into a permanent one.

Cash-Value Life Insurance

Ameritas also offers two types of cash-value life insurance: whole life insurance and universal life insurance. These options provide permanent coverage, ensuring financial security for your beneficiaries no matter when you pass away.

Whole Life Insurance

Whole life insurance offers lifetime protection with the added advantage of accumulating cash value at a fixed interest rate. This policy type allows you to customize your coverage to adapt to your changing needs throughout your medical career.

Universal Life Insurance

Universal life insurance is another permanent coverage option that includes a savings component. This policy doesn’t have a maturity date and remains active as long as you maintain a cash surrender value of $1 or more.

Benefits of Insuring Your Life with Ameritas

Choosing Ameritas for your life insurance needs comes with several benefits. The company’s life insurance policies provide a tax-free death benefit to your beneficiaries upon your passing.

You can also access loans against your policy’s cash value without affecting your credit score or needing lender approval. Ameritas also allows policy customization by adding extra features called riders, offering more flexibility and additional protection for your beneficiaries.

In addition, Ameritas has consistently strong financial ratings reflecting the company’s commitment to long-term growth and stability. Their products and services have been recognized by notable rating agencies like Standard & Poor’s and AM Best for their financial strength and ability to meet ongoing insurance policy and contract obligations.

Key Takeaways

Ameritas Life Insurance offers various policies tailored to provide financial protection for medical professionals and their families. Ameritas is really dependable with a strong financial foundation and a genuine care for keeping their customers happy. They’re a solid choice for life insurance. And when you’re thinking about life insurance, it’s important to consider where you stand financially, what you hope to achieve in the future, and what your family needs.

This will ensure you choose the policy that best suits your personal circumstances. Working with a physician-focused broker of life insurance, like LeverageRx can simplify this process greatly. 

Ameritas Life Insurance is a dependable option for securing your family’s financial security. Their diverse range of products, adaptable policies, and strong financial ratings make them a solid choice for doctors seeking life insurance coverage.