About Amica Life Insurance
What type of life insurance policies does Amica Insurance offer? Well, it provides term life, which pays out only if the policy holder passes away. This is a low-cost cover and one that’s mostly opted by young people in good health.
Amica Life Insurance is the greatest and oldest insurance company in the United States. And it is the oldest insurance company of automobiles more than 100 years of experience in the insurance business. Amica has no stockholders and it is said a mutual insurance company.
No cash value is built up in the policy and it's a very basic one, so no benefit other than payout in the event of loss of life is available. The term life coverage period is only for a certain time which can be 5, 10, 15, 20 or 30 years and the premium to be paid remains the same throughout the policy period.
In case of permanent life insurance, Amica Insurance offers a while life policy that gives payout in the event of passing away and also builds up a cash value over the years of premium payment.
This cash value accrues interest and the amount of premium paid gathers interest. Hence those wishing to gift beneficiaries with a lot of money will find this one to be just right.
The policy is not restricted by a term period instead premium have to be paid for the whole life. The money built up in the policy can be borrowed at any time.
Furthermore, the benefits apply for the lifetime of the policy holder and will holds good as long as premiums are paid on time.
Amica Insurance Policies List
1. Auto Insurance
2. Homeowners Insurance
3. Whole And Term Life Insurance
4. Condo insurance
5. Boat Insurance
6. Motorcycle Insurance
7. Umbrella Insurance
8. Wedding and Event Insurance
9. Renters Insurance, and
10. Small Business Insurance
Amica's rating in paying insurance claim is high and superior. This company is good in term of customer satisfaction.
Find Full Amica Review here at nerdwallet.com.
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