American Fidelity Assurance Insurance Review & Complaints: Health & Life Insurance (2024)

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American Fidelity is a private, family-owned insurer offering health and life insurance-related coverage. Based in Oklahoma City, Oklahoma, the company has been growing steadily since its inception in 1960. American Fidelity is now the second-largest private, family-owned life insurer in the country, serving more than 1 million customers in each of 49 states and internationally in 23 countries.

American Fidelity offers a variety of health and extended benefit coverages as well as financial products. Although some products are marketed to individuals, American Fidelity typically sells its policies through employers; policies and coverage can be purchased through an AFA plan administrator once an employer has partnered with the company.

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Can I get a life insurance policy?

AFA offers several different life insurance plans for both adults and children. As for plan options, term life insurance policies are sold in increments of 10, 20, and 30 years, with rates being based on the length of the term and the policyholder’s age and health. Permanent whole life insurance coverage, which includes an investment component, provides a guaranteed death benefit up to age 100.

Anyone considering purchasing life insurance should read our post about why term life is better than whole life.

Can I get a health insurance policy?

American Fidelity does not sell any major medical insurance. It does, however, provide a variety of supplemental benefits coverages that can augment a major medical policy. For example, the company sells cancer, accident, and critical illness insurance, which helps to cover the costs associated with these serious conditions. Disability income insurance is also available for customers who lose the ability to work due to a serious accident or injury.

In addition to these benefits, AFA also offers flex spending accounts, health savings accounts, and health reimbursement accounts. These act as supplements to major medical insurance. In the case of flex spending and health savings accounts, customers can set aside pre-tax dollars to pay for medical expenses.

A health reimbursement account, meanwhile, allows employers to reimburse employees for their medical expenses, including major medical premiums, while enjoying tax benefits. A reimbursement account can be used in addition to or in lieu of employee-sponsored health insurance.

What additional products are offered?

Aside from insurance products, AFA also offers financial products for retirement. These include Roth IRAs and several types of annuities. A Roth IRA allows individuals to put money aside after tax to grow for retirement when it can be disbursed tax-free. An annuity, meanwhile, provides guaranteed income throughout a customer’s retirement in exchange for regular tax-deferred investments.

Although AFA sells its policies through employers, individuals are able to keep the policy after leaving a job. All AFA policies are similarly portable.

What are American Fidelity Assurance price (rates)?

Our premium rate tests are currently done using auto insurance, which American Fidelity does not sell. Therefore, the premium price will not be used in determining the overall score for this review.

Streamlining the American Fidelity Assurance Claims Process

Ease of Filing a Claim

Filing a claim with American Fidelity Assurance is a straightforward process. You have multiple options, including online, over the phone, and through mobile apps. This flexibility ensures that you can choose the method that suits you best.

Average Claim Processing Time

American Fidelity Assurance is committed to processing claims efficiently. While the exact processing time can vary depending on the nature of the claim, the company aims to resolve claims promptly. This quick turnaround time is a testament to their commitment to providing responsive service.

Customer Feedback on Claim Resolutions

Customer feedback is a valuable indicator of American Fidelity Assurance’s claim resolutions. Positive feedback from policyholders during claim settlements reflects the company’s reliability and dedication to fulfilling its promises.

Navigating the American Fidelity Assurance Digital and Technological Features

Mobile App Features

American Fidelity Assurance offers a user-friendly mobile app designed to enhance your insurance experience. The app provides features for monitoring policies, making payments, and accessing essential information. It’s a convenient tool that keeps you informed and engaged with your insurance.

Online Account Management

Managing your insurance policies online is a fundamental aspect of American Fidelity Assurance’s service. Their online portal offers robust capabilities, allowing you to take control of your insurance needs and explores the available features on how you can make the most of them.

Digital Tools and Resources

American Fidelity Assurance goes beyond insurance policies by providing digital tools and resources. These resources, including educational materials and calculators, are designed to help you make well-informed decisions about your insurance. They contribute to an overall enhanced customer experience.

What about consumer research and complaints?

American Fidelity Assurance has been accredited with the Better Business Bureau since 1975. It has an “A+” rating on the site. The BBB site lists 24 complaints against the company in the last three years, nine of which have been closed in the last 12 months. Of these, most have been issues with the product or service and billing issues.

What about financial strength?

Rating Company	Grade	Financial Outlook
AM Best	A+	Stable
Fitch	N/A	N/A
S&P	N/A	N/A

What’s the bottom line?

Is American Fidelity a good insurance company? American Fidelity Assurance offers a number of different life and health insurance-related products, though they do not sell major medical insurance directly. Their products can be great companions to most medical coverage plans, and many of them are portable if established through an employer. Their Better Business Bureau rating is above average, and according to AM Best, their financial strength is strong.

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