Company Overview
Ameritas Life Insurance Corp of New York, commonly known as Ameritas, is a mutual insurance company headquartered in Rochester, New York. Founded in 1905 as the American Mutual Life Insurance Company, it rebranded to Ameritas in 2015 to reflect a broader national presence. The company offers life insurance, annuities, and long‑term care products to individuals and businesses across the United States.
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Product Portfolio
Ameritas' offerings are divided into two main categories: Individual Life & Annuity and Business Solutions. The individual side includes term life, whole life, universal life, and fixed indexed annuities. Business products cover group term life, key‑person insurance, and employee benefit plans.
Individual Life Insurance
- Term Life – 10, 20, or 30‑year options with competitive rates.
- Whole Life – Fixed premiums, cash‑value accumulation.
- Universal Life – Flexible premiums and adjustable death benefit.
Individual Annuities
- Fixed Indexed Annuities – Growth linked to stock indices with guaranteed minimums.
- Fixed Annuities – Principal protection and fixed interest.
Business Solutions
- Group Term Life – Coverage for employees with flexible plan design.
- Key‑Person Insurance – Protects against loss of essential personnel.
- Employee Benefit Plans – Supplemental health and retirement products.
Financial Performance
Ameritas operates as a mutual company, meaning policyholders are the owners. As of 2023, the company reported assets of approximately $12.5 billion and a net income of $240 million. Its investment portfolio is diversified across equities, fixed income, and real estate.
Regulatory and Safety Ratings
Ameritas is regulated by state insurance departments and the National Association of Insurance Commissioners (NAIC). Rating agencies assign the following:
| Rating Agency | Rating | Source |
|---|---|---|
| A.M. Best | A‑ (Excellent) | Agency Report |
| Standard & Poor's | A− | Agency Report |
| Moody's | A3 | Agency Report |
Consumer Experience and Claims Handling
Policyholders report a generally positive experience with claim processing. The company emphasizes prompt payouts and clear communication. Its online portal allows customers to file claims, view policy details, and track status.
Community Involvement
Ameritas supports charitable initiatives through the Ameritas Foundation, focusing on education, veterans' services, and financial literacy. The company also partners with local nonprofits for disaster relief and community development projects.
Key Takeaways
- Mutual structure means policyholders have ownership stakes.
- Offers a broad spectrum of life and annuity products for individuals and businesses.
- Strong financial health with solid rating agency support.
- Positive consumer feedback on claims and customer service.
- Active community and philanthropic engagement.