Occidental Life Insurance Review & Ratings (2024)
Occidental life insurance: ratings, reviews, policy options, and pricing. Find out if Occidental is the right choice for you by comparing quotes from multiple insurers. Learn about the company's financial strength, customer service, and available policy types. Explore the pros and cons of term life insurance, universal life insurance, and accidental death and dismemberment insurance.
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Brad Larson
Licensed Insurance Agent
Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...
Licensed Insurance Agent
UPDATED: Jan 22, 2024
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Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Jan 22, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance company and cannot guarantee quotes from any single insurance company.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
In this article, we will delve into the ratings, reviews, policy options, and pricing of Occidental Life Insurance. We will provide insights into the company’s financial strength and customer service, as well as discuss the various policy types available, including term life insurance, universal life insurance, and accidental death and dismemberment insurance.
- Occidental Life Insurance Company is a part of the American-Amicable Group of Companies
- Occidental has good financial strength ratings, but the company tends to field more complaints than usual
- You’ll have a few Occidental life insurance policy options to choose from with a handful of convenient riders
Whether you are looking for competitive premiums, flexible coverage amounts, or specific riders to enhance your policy, we’ve got you covered. To ensure you make an informed choice, we encourage you to enter your zip code above and compare rates from top insurance providers. Let’s dive in and find the perfect life insurance solution for you.
Is Occidental Life Insurance Company any good?
Occidental Life Insurance Company of North Carolina is a smaller entity that’s affiliated with the American-Amicable Group of Companies. The company was founded over a century ago, so there’s a strong history of service.
It appears that Transamerica and Aegon US Holding Group-owned Occidental Life Insurance Company at one point, but the company has since moved.
Despite the official name, Occidental Life Insurance Company of North Carolina is actually based out of Waco, Texas. American Amicable companies are based out of the historical ALICO building in Waco.
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How are the reviews for Occidental life insurance?
As a subsidiary of a larger organization, Occidental may have a limited number of ratings and reviews that directly represent the company. This is common with life insurance companies as the rating agencies tend to focus on larger corporations.
There are two major classifications of ratings that you’ll want to be aware of, financial strength and customer service. There are a handful of organizations that help identify these ratings for consumers.
American Amicable and Occidental Life Insurance Company share the following ratings and reviews:
- A.M. Best: A-
- Fitch: A
- Better Business Bureau (BBB): A+
- NAIC Complaint Index: 2.66
As mentioned previously, it’s hard to come by ratings for Occidental directly. Even American Amicable is considered a smaller company that falls outside of the top life insurance companies by market share.
In any case, there are some ratings available for the two collectively. For financial strength, A.M. Best and Fitch have each rated American Amicable highly.
A company’s financial strength ratings are essential because they help prospective policyholders know whether or not a company is financially stable.
When you’re expecting a major death benefit that totals hundreds of thousands of dollars, the insurer has to be reliable. As with any company, it’s also important to know that a company is fair to its customers.
In this case, there is some cause for concern given the NAIC Complaint Index. This score suggests that Occidental fields almost three times as many complaints as other industry competitors.
On the bright side, the BBB rating indicates that they are at least proactive in resolving those complaints. Their customer service could use some improvement overall.
What Occidental life insurance policies are there?
It can get a little confusing when searching for an Occidental life insurance policy. When you try to visit the Occidental Life Insurance Co website, you will be redirected to the American Amicable website.
From there, you’ll find that there are a few different policy options which include:
- Whole life insurance
- Term life insurance
- Universal life insurance
Each policy has different pros and cons that should be considered based on your personal situation. In short, the best policy for you will depend on how much life insurance you need, if you want cash value, and how dependent your beneficiaries are on your income.
Most people choose term life insurance since it is the most affordable on a monthly basis while yielding a significant death benefit to provide financial stability to your beneficiaries.
With Occidental life insurance, you will be able to choose term lengths of 10, 15, 20, 25, or 30 years. This means you will pay the same monthly rate over the course of the term or until death, whichever occurs first.
Occidental’s term life insurance policies have some nice features that could be helpful if you experience certain unexpected life challenges. You can include life insurance riders on your policy to make it more flexible.
The life insurance riders offered by Occidental include:
- Disability income rider
- Terminal illness accelerated death benefit rider
- Accelerated benefits rider – confined care (long-term care)
- Chronic illness accelerated death benefit rider
- Accelerated living benefit rider – critical illness
These riders come with different options, so you’ll need to get more detailed information from an agent if you decide to pursue an Occidental life insurance policy.
Another convenient feature that Occidental life insurance includes is a return of premium option. Occidental advertises this as Easy Term Return of Premium Plan, and it enables a 75% return on your premiums if you outlive your original term length.
Again, these riders and policy options typically come at an added price. This price will most likely vary from person to person.
How much does Occidental life insurance cost?
Occidental life insurance will have different price points for different policy types. This can be a little confusing when you consider the flexibility associated with universal life insurance policies.
Occidental’s term and whole life insurance policies will have level premiums, but the amounts can be different for each policyholder depending on health status, age, and gender.
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It’s hard to guarantee any company’s life insurance rates, and smaller companies like Occidental are even more difficult. While we don’t have direct rates available for Occidental, we do have sample rates from American Amicable, which should be comparable.
Sample American Amicable Life Insurance Rates for a 20-year, $250,000 Policy
| Age | Male, Non-smoker | Male, Smoker | Female, Non-smoker | Female, Smoker |
|---|---|---|---|---|
| 25 | $25.65 | $56.48 | $17.78 | $42.53 |
| 30 | $26.10 | $60.75 | $19.35 | $54.90 |
| 35 | $29.25 | $89.33 | $23.85 | $67.50 |
| 40 | $40.28 | $143.10 | $31.05 | $106.20 |
| 45 | $59.85 | $219.15 | $42.98 | $162.23 |
| 50 | $87.75 | $315.00 | $58.50 | $234.90 |
| 55 | $132.75 | $436.50 | $84.83 | $325.58 |
| 60 | $190.35 | $613.80 | $136.35 | $456.30 |
| 65 | $330.53 | $1,062.00 | $238.73 | $658.80 |
Above, you can get an idea of how much you would pay for a policy with Occidental Life Insurance Company. Although the rates are specific to American Amicable, the affiliation between the two companies could mean that they share similar rates.
You can see that American Amicable puts a hefty price on smoking. Rates for smokers can be over three times more expensive than for non-smokers. Each company weighs these types of factors differently.
Comparison of American Amicable Life Insurance Rates for a 20-year, $250,000 Policy
| Age | American Amicable | John Hancock | Liberty Mutual | Nationwide | Prudential |
|---|---|---|---|---|---|
| 25 | $25.65 | $14.21 | $33.30 | $23.59 | $19.03 |
| 30 | $26.10 | $14.79 | $33.75 | $16.02 | $20.35 |
| 35 | $29.25 | $16.86 | $39.60 | $16.02 | $20.78 |
| 40 | $40.28 | $22.09 | $55.13 | $21.36 | $24.50 |
| 45 | $59.85 | $31.54 | $78.53 | $35.16 | $29.97 |
| 50 | $87.75 | $49.24 | $144.68 | $53.85 | $45.50 |
| 55 | $132.75 | $78.24 | $220.95 | $80.77 | $71.53 |
| 60 | $190.35 | $116.99 | $399.83 | $180.23 | $129.07 |
| 65 | $330.53 | $202.24 | N/A | $279.24 | $242.60 |
Compared to some industry competitors, American Amicable’s life insurance rates are more expensive. This doesn’t mean that your Occidental life insurance rates will definitively be more expensive at all times; however, there’s a good chance that you’ll be able to find more affordable quotes.
At the end of the day, it’s important to get quotes from multiple providers so you can find the best rate from the most reliable company.
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More About Occidental Life Insurance
Occidental Life Insurance Company has some nice policy options with reasonable rates. If you feel comfortable buying a policy from Occidental based on the information thus far, you’ll need to make one last consideration.
Some life insurance providers have an easier claims process than others. If your beneficiary is going to struggle to submit a claim, then the policy is virtually useless.
As a policyholder, you can use your Occidental life insurance login to change any information related to your policy, such as your address or beneficiaries.
For your beneficiaries, they can find claims forms directly on the company website. It appears that these forms will need to be mailed in, although there is a claims email listed on the claims form as well.
If they have any doubt about the claims procedure, they should be able to reach someone by calling the Occidental life insurance phone number.
For what it’s worth, many companies now allow claims to be completed online, which is much easier to manage and track. Occidental is still behind in this regard.
Effortless Occidental Life Insurance Claims Filing
Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)
Occidental Life Insurance offers multiple options for filing a claim, including online submissions, phone assistance, and traditional mail. While they have embraced online claims filing, it’s important to note that they do not offer a dedicated mobile app for this purpose. Customers can access claims forms and relevant information on their website.
Average Claim Processing Time
The average claim processing time with Occidental Life Insurance can vary depending on the complexity of the claim and the supporting documentation provided. Typically, simpler claims are processed more quickly, while complex cases may take longer. Customers can contact the company’s claims department for specific information regarding their claim’s status and expected processing time.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback on Occidental Life Insurance’s claim resolutions and payouts is mixed. While the company has received high financial strength ratings from agencies like A.M. Best and Fitch, there have been customer complaints about the claims process.
The NAIC Complaint Index indicates that Occidental has a higher-than-average number of complaints compared to industry competitors. However, it’s worth noting that they are proactive in resolving these complaints according to their BBB rating.
Occidental Life Insurance Tech-Driven Insurance Solutions
Mobile App Features and Functionality
Occidental Life Insurance does not currently offer a dedicated mobile app for policyholders. While they have an online presence for information and claims forms, customers looking for mobile app features like policy management and claims submission will need to use the company’s website.
Online Account Management Capabilities
Policyholders can manage their accounts and update information online through Occidental’s website. This includes tasks such as changing addresses and updating beneficiaries. However, the absence of a dedicated mobile app means that these features are primarily accessible through a web browser on a computer or mobile device.
Digital Tools and Resources
Occidental Life Insurance provides digital tools and resources on their website to help customers navigate their policies and understand their options. These resources include educational materials on different policy types and riders, as well as access to claims forms and contact information for customer support.
While Occidental offers some digital tools, their overall digital and technological features may not be as advanced as some other insurance providers who offer dedicated mobile apps for streamlined policy management and claims processing. Customers should consider their preferences and priorities when choosing an insurance company based on these features.
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Occidental Life Insurance Company: The Bottom Line
Occidental life insurance could be worthwhile if your quotes are competitive with other life insurance providers. Be aware of potential customer service issues.
We hope you enjoyed reading our Occidental Life Insurance Company review. Before you go, enter your ZIP code to get free quotes from the best life insurance companies in your area.
Frequently Asked Questions
Is Occidental Life Insurance Company any good?
Occidental Life Insurance Company has a long history of service, and its parent company, American-Amicable Group, has strong financial strength ratings from A.M. Best and Fitch. However, the NAIC Complaint Index suggests that Occidental fields almost three times as many complaints as other industry competitors.
How are the reviews for Occidental life insurance?
As a subsidiary of a larger organization, Occidental may have a limited number of ratings and reviews that directly represent the company. American Amicable and Occidental Life Insurance Company share the same ratings and reviews. A.M. Best and Fitch have each rated American Amicable highly for financial strength. On the other hand, the NAIC Complaint Index suggests that there are a high number of complaints for Occidental.
How do I get a quote for Occidental life insurance?
To get a quote for Occidental life insurance, you can contact an Occidental representative or use a third-party website to compare rates from multiple insurers, including Occidental.
What types of life insurance does Occidental offer?
Occidental offers term life insurance, universal life insurance, and accidental death and dismemberment insurance.
How much life insurance coverage can I buy from Occidental?
The maximum amount of life insurance coverage that you can buy from Occidental varies depending on your age, health status, and other factors. You can contact an Occidental representative or use their online quote tool to see how much coverage you qualify for.
How can I file a claim with Occidental life insurance?
To file a claim with Occidental life insurance, you can contact their claims department by phone or email. The claims process will vary depending on the type of policy you have and the circumstances of the claim. It’s important to have your policy number and other relevant information ready when you contact Occidental.
Compare The Best Insurance Quotes In The Country
Compare quotes from the top insurance companies and save!
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Brad Larson
Licensed Insurance Agent
Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.