American Family Life life insurance

Overview

American Family Life Insurance Company is the life insurer of American Family Insurance (AmFam), the Madison, Wisconsin, group best known for auto, home and farm coverage. It is a stock company owned by American Family Mutual Insurance Company, S.I., a mutual insurer owned by its policyholders. Its policies are sold under the DreamSecure name.

It is not Aflac. Aflac's main insurer is legally named American Family Life Assurance Company of Columbus, based in Columbus, Georgia, and the two companies are unrelated. If your policy says "Life Assurance Company of Columbus" or covers cancer, accident or other supplemental benefits sold at work, see the Aflac profile instead. American Family Life Insurance Company's NAIC company code is 60399; Aflac's Columbus company is 60380.

The American Family Insurance group ranked #58 among U.S. life insurance groups by 2024 individual life direct premiums written, according to NAIC market share data, with $484.8 million in premiums and a 0.31% share. American Family Life is the only life company in the group's NAIC filing. Policies are sold mostly by American Family agency owners, who contract with AmFam and sell its auto, home and life products, and AmFam's site also offers online pricing. The wider group reported $45.5 billion of assets and $19.5 billion of revenue for 2025 and contracts with more than 2,400 agency owners.

History

Herman Wittwer opened Farmers Mutual Automobile Insurance Company in Madison on October 3, 1927, selling auto insurance to farmers, whom he considered safer drivers than city residents. The company added non-farm customers, windstorm and accident coverage over the next three decades. In 1958 it introduced homeowners insurance and opened American Family Life Insurance Company, which expanded to 10 states within its first year. The parent took its current name, American Family Mutual Insurance Company, S.I., in 1963.

The group grew mainly on the property and casualty side. It acquired Homesite, a Boston-based direct home insurer, in 2013; merged with The Main Street America Group, approved by policyholders in October 2018; and took over Ameriprise Auto & Home in 2019, rebranding it CONNECT. It sold The General, a non-standard auto insurer, to Sentry Insurance in a deal that closed December 31, 2024. Bill Westrate succeeded Jack Salzwedel as chief executive in 2022 and is now chair and CEO. None of these deals changed American Family Life, which remains the group's only life insurer.

Life insurance products

American Family Life's current DreamSecure line covers term, whole and adjustable life:

• DreamSecure Choice Term: fully underwritten term life for ages 18 to 70, with level premiums for 10, 15, 20 or 30 years depending on age and a $50,000 minimum. Coverage is convertible, and after the level period it can be renewed each year at higher premiums up to the policy anniversary at or after age 95.
• DreamSecure Simple Term: a simplified-issue term policy with health questions but no medical exam or call-center interview, in 10-, 15-, 20- and 30-year terms. Coverage runs from $50,000 to $750,000; applying for more than $250,000 requires an eligible American Family auto, home, farm/ranch or life policy.
• DreamSecure Whole Life and DreamSecure 15 Pay Whole Life: permanent coverage with guaranteed level premiums, payable to age 100 or for 15 years (a form of limited-pay whole life), with cash value you can borrow against.
• DreamSecure Flexible Life: an adjustable permanent policy that lets you change premiums and coverage, builds cash value, and includes a paid-up option that reduces coverage and stops premiums.
• DreamSecure Senior Whole Life: small whole life policies of $10,000 or $15,000 for ages 50 to 80, with no medical exam and a few health questions; AmFam says policies can be issued in as little as a week. It is aimed at final expense needs.
• DreamSecure Children's Whole Life: $25,000, $50,000 or $75,000 of permanent coverage on a child or grandchild, paid over 10 or 20 years.

Riders, sold at extra cost, include a children's insurance benefit ($15,000 of term coverage per eligible child, convertible to permanent coverage), waiver of premium for disability, a guaranteed purchase option for buying more coverage at set ages and life events without medical questions, and waiver of monthly deductions for disability on the flexible policy.

Buying and service

Most buyers work with an American Family agent, who can quote and complete the application with them. AmFam's site also offers online pricing and coverage options for people who want to start on their own. Because AmFam agents mainly sell American Family products, you will not see other insurers' prices from them; see captive vs independent life insurance agents for the trade-off.

AmFam's main number, 800-692-6326 (1-800-MYAMFAM), handles billing and general service questions Monday through Friday 7 a.m. to 8 p.m. and Saturday 8 a.m. to 8 p.m. Central, and its automated pay-by-phone line runs 24 hours a day. Policyholders can also use the My Account site and the MyAmFam app, which lists the assigned agent's contact details. Written correspondence goes to 6000 American Parkway, Madison, WI 53783.

Claims

Beneficiaries can notify American Family Life of a death through the online "Report a life insurance claim" form on amfam.com, which goes to the company's life claims unit, or by calling 800-692-6326. The form asks for the deceased's name, date and place of death, cause of death and, if known, the policy number; American Family Life policy numbers have eight characters and start with S, U, L, P, J or the digits 0, 1, 2, 3, 4 or 9. The company replies by phone, mail or email, and it will discuss a policy only with the named beneficiary. Expect to provide a certified death certificate. The claims guide covers the usual steps.

Ratings and reputation

AM Best affirmed American Family Life's financial strength rating of A (Excellent) and its long-term issuer credit rating of "a+" in October 2026, with a stable outlook, as it had in September 2025. AM Best assessed its balance sheet strength as strongest and its operating performance as adequate. In September 2022 AM Best had revised the outlooks on the American Family companies to negative; the outlook was stable again by the 2025 affirmation. American Family Life does not publish S&P, Moody's or Fitch ratings on its life pages.

American Family was not among the brands ranked in the J.D. Power 2026 U.S. Individual Life Insurance Study, where its larger agent-based rival State Farm ranked second.

Who it suits

American Family Life fits households that already insure their cars or homes with AmFam and want life coverage from the same local agent, including a no-exam term option and small senior and children's whole life policies. It is a weaker fit for people outside the states where American Family has agents, for buyers who want universal life, indexed products or very large face amounts, and for shoppers who want an independent broker to compare many companies.

• Strengths: A (Excellent) AM Best rating affirmed in September 2025 with a stable outlook; no-exam term up to $750,000 for existing AmFam customers; children's and senior whole life options; part of a mutual group with a 1927 history.
• Weaknesses: sold mainly through AmFam's own agents in its operating states; no-exam term above $250,000 requires another AmFam policy; no indexed or variable life products; easily confused with Aflac, whose legal name is similar.

How to contact American Family Life