Independent review
Ameritas Life Insurance Review
A policyholder-owned mutual insurer operating since 1887.
This is a review of Ameritas written by Call For Life Quotes. We are not Ameritas and have no affiliation with the company.
What to know first
- Ameritas is structured as a mutual, meaning it answers to policyholders rather than to outside shareholders.
- It has held an A rating from AM Best for a very long stretch — well over fifty years by the company's own account.
- Its whole life policies are participating, so they are eligible for dividends, which are never guaranteed.
- It is a full-line insurer rather than a final expense specialist, and it also issues policies sold through other platforms.
Ameritas Life Insurance Corp. has operated since 1887 and is headquartered in Lincoln, Nebraska. It sits under Ameritas Mutual Holding Company, which makes it policyholder-owned rather than publicly traded. Supporters of the mutual structure argue it lets a company manage toward long-term policyholder outcomes instead of quarterly earnings.
Unlike carriers that concentrate on small final expense policies, Ameritas writes a broad range of coverage, and it is also known for dental and vision insurance — a line most life insurers do not touch. It additionally serves as an issuing carrier for third-party platforms, which means some buyers end up with an Ameritas policy without having shopped for Ameritas directly.
Ameritas at a glance
| Founded | 1887 |
|---|---|
| Headquarters | Lincoln, Nebraska |
| Structure | Mutual holding company — owned by policyholders |
| AM Best rating | A (Excellent), affirmed May 2025 with a stable outlook |
| Product lines | Term, whole life, indexed universal life, dental and vision |
| Also operates as | An issuing carrier for third-party platforms |
Coverage offered
Term life insurance
Level coverage for a defined period, typically the most affordable way to buy a large death benefit.
- Suited to covering a mortgage, replacing income, or protecting a family through the working years.
- Some term policies offer the ability to convert to permanent coverage later without new medical underwriting — a valuable feature worth asking about.
- Standard underwriting applies, so health and age drive the premium.
Participating whole life
Permanent coverage with guaranteed premiums, guaranteed cash value growth, and dividend eligibility.
- Ameritas offers several whole life designs aimed at different goals, from maximizing early cash value to maximizing the death benefit.
- As participating policies, they are eligible to receive dividends when the company declares them. Dividends are not guaranteed and depend on company performance.
- Premiums are level and the coverage does not expire as long as it is funded.
Indexed universal life
Permanent coverage with flexible funding and cash value credited in part on index performance.
- Offers more flexibility than whole life but shifts more responsibility onto the policyholder to fund it properly.
- Values shown in an illustration are projections that depend on crediting rates, caps, and fees.
- Appropriate for buyers with a defined long-term strategy and an advisor to review it.
Living benefit riders
Provisions that let you access part of the death benefit while still living under defined circumstances.
- Commonly triggered by a qualifying terminal, chronic, or critical illness diagnosis.
- Any amount accessed early reduces what beneficiaries eventually receive.
- Availability and terms vary by product and by state.
Financial strength
Ameritas holds an A (Excellent) rating from AM Best, affirmed in May 2025 with a stable outlook. AM Best's published assessment points to very strong balance sheet strength, adequate operating performance, a favorable business profile, and appropriate enterprise risk management.
The company also highlights that it has maintained an A rating for more than fifty years. For permanent life insurance in particular — a contract that may not pay out for decades — that kind of rating consistency is a reasonable thing to weigh.
Strengths and trade-offs
Strengths
- Founded in 1887, with a very long and stable rating history.
- Mutual structure, so the company answers to policyholders rather than shareholders.
- Participating whole life policies are eligible for dividends.
- A broad product range, including living benefit riders and conversion options.
- Unusual breadth for a life insurer, including dental and vision coverage.
Things to weigh
- Not a final expense specialist — if you want a small burial policy with no health questions, other carriers focus there.
- Most products require standard underwriting, which can mean health questions and an exam.
- Dividends on participating policies are never guaranteed.
- Indexed universal life is complex and deserves careful review before purchase.
Ameritas may be worth a look if you are:
- Buyers who want a long-established mutual insurer rather than a publicly traded one
- Applicants in reasonable health who can qualify through standard underwriting
- People interested in participating whole life with dividend potential
- Households wanting living benefit riders attached to their coverage
Ameritas FAQs
What does it mean that Ameritas is a mutual company?
It is owned by its policyholders rather than by outside shareholders, through Ameritas Mutual Holding Company. In practice, that means there is no shareholder group with a claim on profits, and participating policyholders may receive dividends when the company declares them.
Is Ameritas financially strong?
AM Best affirmed an A (Excellent) rating with a stable outlook in May 2025, citing very strong balance sheet strength and appropriate risk management. The company reports having held an A rating for over fifty years.
Are Ameritas dividends guaranteed?
No. Dividends on participating whole life policies depend on the company's actual experience with investments, expenses, and claims. They are declared at the company's discretion and should never be treated as promised income when comparing policies.
Does Ameritas offer final expense coverage?
Its focus is broader than the small-face-amount burial market. If a modest simplified-issue policy is what you need, it is worth comparing Ameritas against carriers that specialize in that product before deciding.
Compare your options before you decide
We are not Ameritas and cannot quote its policies. What we can do is connect you with a licensed insurance agent in our partner network† who can compare available coverage from one or more carriers.