One America is not one of our top-rated life insurers. You can check our list ofbest life insurersfor what we think are better options.
benefits explained
- Several options for the whole life:OneAmerica has several lifetime options for individuals who want ongoing protection. It has plans with different payment options so you can find a policy that fits your budget.
- Low number of complaints:OneAmerica has a very low number of customer complaints. In the last year tabulated (2021), only six claims and zero for individual life insurance were received. This gives the company an extremely low complaint rate, meaning it has received far fewer complaints than the average company of its size.
Disadvantages explained
- Very limited online information:OneAmerica's website caters to businesses looking for group life insurance and financial professionals who sell insurance. For people looking for life insurance options, OneAmerica has very limited information about their policies and passengers.
- Policies can only be purchased through agents:OneAmerica does not have an online quoting tool or allow customers to apply for policies online. To apply for coverage, please contact a financial professional or a OneAmerica insurance agent.
- Insurance agents work on a commission basis:OneAmerica's financial professionals and insurance agents work on a commission basis and receive awards when they meet performance goals. They have a financial incentive to direct you to certain products, so make sure you do your research before choosing a policy.
Available Plans
Within its individual life insurance segment, OneAmerica sells life and term policies. All of your insurance options are fully insured and require medical evaluations, and you must contact an insurance agent or financial professional to obtain a quote or apply for coverage.
OneAmerica has the following individual life insurance options:
Expression
Also known as temporary insurance,concept of lifeInsurance coverage protects you for a predetermined period of time. Your beneficiaries will only receive the policy death benefit if you die within the pre-determined period; After that, no money will be paid to the beneficiaries.
OneAmerica Lifetime Policies are available in 10, 15, 20 and 30 year terms. All policies have tiered awards and tiered death benefits. The company also promotes that policies are affordable.
Not all products may be available in all states and, as noted, the Company is not licensed in New York.
at
AlthoughWhole lifeThe coverage is generally more expensive than term life insurance, it does not have the limitations of term life insurance. Life insurance is permanent and lasts a lifetime, and your policy may also accumulate cash value.
OneAmerica has several Whole Life products. All products offer a higher level of customization than their lifespan. Life insurance policyholders receive dividends because OneAmerica is a mutual insurance company. Policies have tiered premiums and tiered death benefits. Additionally, life insurance policies add cash value and, in most cases, are a tax-free way to transfer assets to heirs, according to the company.
available passengers
When you buy life insurance, companies like OneAmerica often have optional items that you can add to your policy.Insurance pilotscan increase your premiums, but you can use them to get additional benefits or to buy insurance for family members.
OneAmerica has the following pilots:
child support
With the supplementary child benefit, you can take out life insurance for your dependent children.
waiver of price
Öpremium exemptionThe passenger keeps your policy in force and waives your premiums if you become incapacitated.
Customer service
OneAmerica has very limited information online about its policies and passengers. Consult an insurance agent or financial professional for details of available plans and their costs. You can use yoursLocator-Toolto find a finance professional in your area.
If you have general questions, please contact customer service at 800-537-6442. The phone line is open Monday through Friday from 8:00 a.m. to 6:00 p.m. HUSA.
While OneAmerica has many educational resources on its website, it doesn't offer any form of secure messaging or online customer service chat, a feature widely available among major insurers.
Complaint index
It's nice to see how many complaints customers make about an insurance company. The National Association of Insurance Commissioners (NAIC) publishes claim ratios that reflect the number of claims filed relative to a company's market share. The average score is 1.0, and the lower the score, the better.
OneAmerica's complaint rate is way, way better than the industry standard. The loss ratio for the single life insurance segment was 0.00 in 2020, meaning that no claims related to the single life segment were filed with the NAIC. Across all of the company's businesses, only six complaints were received, with a microscopic complaint rate of 0.06.
Third Party Reviews
Although OneAmerica isn't in the J.D. Power 2021 - a study that ranked the top life insurers and ranked it 21st - has a strong reputation for financial stability in the insurance industry.
AM Best, the rating agency that rates insurance companies, has given OneAmerica an A+ (Superior) rating.
Cancellation policy
As with other insurance companies, you are entitled to free consultation time when you purchase a OneAmerica policy. Generally, you have a few days after the policy is issued to receive a full refund.
After the free consultation period, the termination procedures depend on your policy type. Term policies can be canceled at any time, but you will not receive a refund. For life insurance policies, you get the cash settlement value minus management fees.
You must contact your insurance agent to cancel your policy.
Preis
OneAmerica does not have an online pricing tool or list sample prices. You should work with an agent or financial professional to find out what your premiums would be under different life insurance plans.
As with other insurance companies, OneAmerica requires you to select "male" or "female" when requesting a quote or applying for life insurance.Being non-binary doesn't preclude you from getting life insurance, but you should be aware that most insurers have not updated their underwriting processes to reflect current gender awareness.
Competition
Although OneAmerica offers lifetime and lifetime policies, information on their plans, passengers, and costs is very limited. If you are looking for a company that has more information, consider themBezirksbauernhof, a leading life insurer.
State Farm has several policies to choose from, including lifetime, comprehensive, and universal lifetime coverage. You can get quotes for some policies online and even buy end-of-cost policies without undergoing a medical exam.
State Farm has an excellent reputation in the insurance industry, ranking first out of 21 companies in the J.D. Power 2021 US Individual Life Insurance Study.It also has an A++ (Superior) rating from AM Best, the highest possible rating.
| One America | Bezirksbauernhof | |
|---|---|---|
| Market share of individual life insurance | extremely small | 6th largest, 3.7% |
| number of plans | 2+ | 10 |
| dividends | $27.3 million (2022 estimate) | $584 million (2020) |
| Discounts on wellness programs/smoking incentives | Not applicable | Not applicable |
| Service Method | Insurance agent, finance professional | Agents |
| AM Best rating | A+ (superior) | A++ (Superior) |
| Complaint history (general, individual life) | 0,06, 0,00 | 0,18, 0,25 |
final verdict
OneAmerica has both term and lifetime options, but individuals can become frustrated when researching their insurance options due to the limited information available about the company's policies. The only way to get quotes or details is to work with an agent, which some people might find annoying. For those looking for a streamlined shopping experience, it's probably best to partner with another insurance company.
This is how we rate life insurers
Our life insurance ratings are based on aquantitative methodologywhich analyzes each insurer for stability and reliability, customer service, claims experience, diversity of product lines and costs. We compare the terms of each policy type offered - including available coverage levels, optional supplements and premium payment options - to those of other major life insurers. Finally, we look at how the company is rated by third-party organizations to determine its overall trustworthiness and reputation.