American Life & Security Corp., often referred to simply as American Life, is a life and annuity insurance company headquartered in Lincoln, Nebraska.Founded in 1960, the company has recently undergone a significant transformation to become a technology-enabled provider of retirement savings products.By leveraging cloud-based administration and a capital-efficient business model, American Life aims to offer competitive interest rates and streamlined service to policyholders across the United States.

History and Corporate Overview

While American Life & Security Corp. has been in business for over six decades, its current operational structure was largely established during a strategic "reimagining" in 2018.In that year, the company was recapitalized by Vespoint, an insurance-focused investment and management firm.This transition shifted the company's focus toward a modern, tech-centric approach to the annuity market.

According to Business Wire, American Life is a subsidiary of Midwest Holding Inc., a publicly traded financial services company. In late 2023, Midwest Holding was acquired by an affiliate of Antarctica Capital, an international investment firm, further strengthening the financial backing behind American Life's product line.

Financial Strength and Ratings

Financial ratings are a critical metric for annuity buyers, as they indicate an insurer's ability to meet its long-term obligations. AM Best, the primary credit rating agency for the insurance industry, has assigned American Life & Security Corp.a Financial Strength Rating of B++ (Good).

As noted by Annuity.org, this rating reflects the company's stable balance sheet and adequate operating performance. While a B++ rating is secure, it is slightly lower than the "A" ratings held by some of the largest legacy carriers in the industry. However, the company argues that its efficient, low-overhead model allows it to pass value to customers through higher crediting rates on their annuity products.

Annuity Product Portfolio

American Life & Security Corp. specializes in fixed and fixed indexed annuities designed for retirement accumulation.These products are distributed through a network of independent agents and marketing organizations.

Multi-Year Guaranteed Annuities (MYGA)

The company’s flagship fixed product is the American Classic, a Multi-Year Guaranteed Annuity. This contract functions similarly to a bank CD, offering a guaranteed fixed interest rate for a specific term, typically ranging from 3 to 5 years.

  • Guaranteed Rates: Policyholders lock in a set interest rate for the entire term.

  • Liquidity: Most contracts allow for penalty-free withdrawals of accumulated interest or a specific percentage of the account value (e.g., 10%) after the first year.

Fixed Indexed Annuities (FIA)

For investors seeking growth potential linked to market performance without risking their principal, American Life offers the American Select and MaxGrowth 10 annuities.

  • Market Upside: Interest credits are tied to the performance of external indices, such as the S&P 500 ESG Index or the Goldman Sachs Xenith Index.

  • Principal Protection: If the market index falls, the account value does not decrease due to market performance. The interest credit for that period is simply zero.

  • Tech-Driven Strategies: As highlighted in their product announcements, American Life was one of the first carriers to introduce fixed annuities linked to ESG (Environmental, Social, and Governance) indices.

The "MYGIA" Hybrid: American Fusion

In 2023, the company launched a unique product called American Fusion, which they classify as a "Multi-Year Guaranteed Index Annuity" (MYGIA). According to PR Newswire, this product combines the stability of a traditional fixed annuity with the upside potential of an indexed annuity. It offers a guaranteed fixed rate for a 5-year term, plus the potential for a "bonus interest credit" at the end of the term if the S&P 500 meets a specific performance threshold.

Technology and Operational Strategy

A key differentiator for American Life & Security Corp. is its reliance on modern technology to reduce administrative costs.The company claims to be the first US life insurer to run its core administration entirely on the cloud, utilizing the FAST (Flexible Architecture, Simplified Technology) platform and Amazon Web Services (AWS).

This infrastructure allows the company to process applications faster and manage policies more efficiently than legacy carriers burdened by older mainframe systems. As described in their corporate story, this efficiency is central to their business model, enabling them to offer competitive rates while maintaining a capital-efficient balance sheet.

Contact Information

Policyholders and agents can contact American Life & Security Corp. through their corporate office in Nebraska.

  • Headquarters: 2900 S 70th St, Suite 400, Lincoln, NE 68506.

  • Phone: General inquiries can be directed to (402) 489-8266 or the toll-free line listed on their Better Business Bureau profile.

  • Online: The company maintains a portal for agents and customers at american-life.com.