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Ameritas Disability Insurance Review


ConsumersAdvocate.org Rating: 4.7 / 5 (Excellent)
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Ameritas is a mutual insurance company founded in Lincoln, Nebraska in 1887. The company currently offers life, dental, vision, hearing, and disability income insurance for individuals, institutions, businesses, and municipalities. Besides health and accident insurance, Ameritas also sells investment products such as annuities, mutual funds, and retirement plans, among others.
 
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How is Ameritas rated?

Breakdown

4.5/5
Policies & Coverage
5.0/5
Flexibility
5.0/5
Financial Strength
5.0/5
Reputation & Customer Experience

Overall Rating: 4.7 / 5 (Excellent)

Ameritas Disability Income Protection plans offer a simple and affordable alternative for those looking to protect their income through an easy-to-understand supplemental coverage. Although they are marketed for both individuals and businesses, these programs are designed to provide disability insurance coverage to groups working in professional or executive positions with the same employer. The highlight of Ameritas offer is their standard underwriting process, which issues discounted, unisex plans without requiring detailed medical evaluation.

Ameritas Policies & Coverage

Policies & Coverage - 4.5 / 5

Ameritas Life Insurance Corporation sells disability income protection insurance, a supplemental benefit designed to compliment an individual's existing long-term disability coverage. The company's DInamic Foundation and DInamic Fundamental series offer consumers a benefit amount of up to one times their annual earnings based on a percentage of their manual duties, as long as the amount does not exceed $100,000. For total disabilities expected to last at least one year, the benefit is paid out as a single lump sum payment, after which the policy terminates. This plan features a peculiar caveat that states the total disability lump sum benefit will be paid out as long as the policyholder survives the disability for at least 30 years, a clause which lends itself to a certain degree of ambiguity with regard to claims and benefits. Ameritas' non disabling injury benefit will help pay up to $3,000 for out of pocket expenses after an injury. Other relevant policy details are that these plans feature a business overhead expense, level premiums, have no elimination period, and don't require detailed medical underwriting.
Policy Types
Individual
Group
Supplemental Disability Income
Policy Features
Partial Disability
Non-Cancelable
Presumptive Total Disability
Guaranteed Renewable
Level Premiums
Elimination Period
None
Long-Term Benefit Period
A lump sum payment or equal payments for six month
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Ameritas Flexibility

Flexibility - 5 / 5

Since Ameritas' sells standard disability income protection plans at discounted rates, it does not offer any optional riders with which clients can customize their policies. Although that means the company's products are not as flexible as those offered by similar competitors, consumers looking for a simple and cheap alternative to disability insurance may still find Amerita's offer enticing.

Ameritas Financial Strength

Financial Strength - 5 / 5

Ameritas Life Insurance Corporation holds A ratings with all major credit rating agencies including Standard & Poor's and A.M. Best. Although their Moody's rating has been withdrawn, the company remains a stable enterprise with solid financials and an excellent ability to meet its long-term obligations to its policyholders.
Company Type
Underwriter
Underwriter
Ameritas Life Insurance Corporation
Year Founded
1887
Market Share 2017
0.2%
Total Premiums 2017
$195,937,643.00
Standard & Poor's Financial Rating
A+
AM Best Financial Rating
A

Ameritas Reputation & Customer Experience

Reputation & Customer Experience - 5 / 5

Ameritas is a Better Business Bureau-accredited corporation with an A+ rating. The company has yet to receive any customer feedback on the organization's website and isn't registered with Trustpilot.com. Although there are few online reviews for Ameritas, NAIC data reveals the company had merely five complaints filed against their individual accident and health insurance policies in 2017.
BBB Rating
A+
Date Collected
2023-01-19
NAIC Complaint Ratio 2017
0.23
NAIC Total Complaints 2017
5

Company Profile

Full Name
Ameritas Disability Insurance
Company Website
http://www.ameritas.com/
Mailing Address
5900 O Street, P.O. Box 81889, Lincoln, NE, 6850

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Our Partner
  • Provides up to $30,000 per month in coverage if you become disabled and can’t work
  • Benefit periods from as little as 2 years or all the way to retirement age
  • Good health benefit reduces the elimination period each year that the policyholder doesn’t file a claim
  • Non disabling injury benefit will help pay up to $3,000 for out of pocket expenses after an injury
  • Rated A (Excellent) by A.M. Best for financial strength
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