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Amplify Life Insurance Review


ConsumersAdvocate.org Rating: 4.8 / 5 (Excellent)
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Launched in 2019, Amplify is a digital insurance platform providing consumers with access to wealth-building life insurance policies. The platform's streamlined process allows customers to compare policies specifically selected for them, and complete their applications in minutes once they've made their choice.
 
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How is Amplify rated?

Breakdown

4.8/5
Company Stability
4.8/5
Reputation
4.8/5
Policies & Coverage

Overall Rating: 4.8 / 5 (Excellent)

Amplify provides a one-stop shop experience where consumers can compare personalized life insurance rates from multiple carriers, apply and get approved all while getting support from the company's highly esteemed agents.

The company offers services for VUL, IUL, term and combination life insurance policies with a variety of carriers such as Nationwide and National Life.

Amplify has received great satisfaction ratings and had no complaints filed with the NAIC in 2022.

Financial Strength

Key Details

Standard & Poor's Financial Rating
A+
Moody's Financial Rating
A1
AM Best Financial Rating
A+

Company Stability - 4.8 / 5

As Amplify doesn't underwrite any of the life insurance policies it offers, it has not been rated by any of the major financial stability rating companies, including Standard & Poor's, Moody's, AM Best, and Fitch. And because it offers insurance from different providers, consumers will need to research that information on their own once they choose a policy and a carrier.

According to Amplify's NAIC overview, in 2022 the company had a total of $1,515,600 in assets and $242,200 in liabilities .

For purposes of this review, we chose one of Amplify's policy providers, National Life, and researched its financial stability ratings.

Reputation & Customer Experience

Customer Ratings

Trust Pilot Rating
4.6 out of 5
Date Collected
2023-10-24

Reputation - 4.8 / 5

In 2022, Amplify had zero consumer complaints filed with the National Association of Insurance Commissioners. The company's profile on Trustpilot has a customer satisfaction rating of 4.6, with over 200 reviews. Most of these praise the company's simple application process, its helpful customer service team, and how knowledgeable its agents are.

Amplify is not yet accredited nor rated by the Better Business Bureau. We recommend searching for your chosen policy provider's BBB profile as well as its consumer reviews.

Amplify Policies

Amplify offers customers the following life insurance policies: Variable Universal Life, Index Universal Life, Term Life, Combination.

Term Life Insurance

Available Terms
10 year
20 year
30 year

Policies & Coverage - 4.8 / 5

Amplify currently offers options for four types of life insurance, including Variable Universal Life (VUL), Index Universal Life (IUL), Term Life and Combination Life insurances. The company's policies provide protection for up to $5,000,000. They also come with the benefit of building cash and tapping into it before you die.

Funds can be used for things like replacing an income, leaving an inheritance, cover health expenses, or pay off debt.

The application process is seemingly simple. Customers can fill out a form for a free estimate, where they'll answer basic questions to narrow down the best type of life insurance for them, compare the recommended products, and apply directly through the website.

Flexibility and Available Riders

Available Term Life Riders

  • Terminal Illness Rider
  • Chronic Illness Rider
  • Critical Illness Rider
  • Long-Term Care Rider

Available Carriers

Nationwide, Transamerica, National Life, Mutual of Omaha, Ameritas, Lincoln Financial Group, Prudential, Great Western Insurance Company

Flexibility & Available Riders - 4.8 / 5

Unfortunately, Amplify's website does not list all the available riders policyholders can complement their life insurance with. This is due to how the company offers policies from different carriers, and the riders vary according to the provider.

Some of the available riders include terminal, critical and chronic illness as well as long-term care riders.

Additional Company Information

Homepage URL
https://www.getamplifylife.com
Company Phone
(855) 630-1027
Year Founded
2019

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Top Rated
Our Partner
  • The only 100% no medical exam term life insurance
  • Ages 18 to 60 are eligible to apply
  • Term life policies $50,000-$1.5 million in coverage
  • Company offers 10, 15, 20, 25, and 30-year terms
  • Monthly premiums as low as $10
  • Featured in WSJ, CNN, Forbes, TechCrunch & Money.com
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