Amica Life life insurance

Overview

Amica Life Insurance Company is the life insurance and annuity subsidiary of Amica Mutual Insurance Company, the Rhode Island insurer best known for auto and homeowners coverage. Amica Life sells term life, whole life and fixed annuities directly to consumers, by phone and online, rather than through commissioned agents. It is licensed in all 50 states.

The Amica Mutual group ranked #98 among U.S. life insurance groups by 2024 individual life direct premiums written, according to NAIC market share data, with about $113.7 million in premiums and a 0.07% market share. Amica Life is the only life insurer in the group.

Because Amica Mutual is a mutual owned by its policyholders and Amica Life is its wholly owned subsidiary, there are no outside shareholders. Amica Mutual reported about $5.9 billion in assets and more than 3,500 employees. Amica advertises a multi-policy discount of up to 30% when auto is bundled with home, umbrella and life coverage.

History

Amica traces its roots to 1907, when A.T. Vigneron founded the Automobile Mutual Insurance Company of America in Providence, Rhode Island. The company calls itself the oldest mutual automobile insurer in the United States. A sister company, Factory Mutual Liability Insurance Company of America, was chartered in 1914 and merged with Automobile Mutual in 1973. Amica added homeowners insurance in 1956 and moved its corporate offices from Providence to Lincoln, Rhode Island, in 1994.

Amica Life Insurance Company was incorporated in 1969 to offer life insurance to Amica's customers. It marked 50 years in business in 2019 and is now licensed in every state. Edmund Shallcross III became Amica's president and CEO in 2022.

Amica Mutual had substantial underwriting losses in 2022 and 2023 from rising auto and homeowners loss costs. In February 2024 AM Best affirmed the ratings of the group, including Amica Life, but revised their outlooks to negative; it moved them back to stable in March 2026 after rate increases and a return to operating profit. Amica Life's own balance sheet was not the cause of the concern; its rating outlook moved with its parent's.

Life insurance products

Amica Life sells two kinds of life insurance:

• Level term. Terms of 10, 15, 20, 25 or 30 years with a premium that stays the same for the level period. When the level period ends, the policy does not expire: you can keep it to age 100, but the premium may rise. For a limited time, term policies can be converted to permanent coverage without a medical exam (see converting term life to permanent: how the conversion option works). An accelerated benefit lets you take part of the death benefit early if you are diagnosed with a terminal illness. Amica says some applicants qualify without a medical exam by completing a health questionnaire, depending on age, the amount applied for and underwriting review; the company can still require an exam with blood or urine tests.
• Whole life. Three plans, with coverage from $25,000 to more than $20 million: Whole Life 20 (premiums for 20 years, issue ages up to 80), Whole Life 65 (premiums until age 65, issue ages up to 50) and Whole Life 100 (premiums to age 100, the lowest annual cost, issue ages up to 80). All build guaranteed cash value that can be borrowed against, and all include a terminal illness rider. Amica markets the plans for families buying coverage on children or grandchildren and for leaving money to a charity. See limited-pay whole life: 10-pay, 20-pay and paid-up at 65 for how shorter payment periods work.

Amica does not sell universal life, indexed universal life, variable life or final expense policies. Its product line is deliberately simple.

Amica Life's term coverage is also offered through Ladder, an online life insurance agency that sells term policies issued by Amica Life and other insurers (Ladder does not sell in New York). Your policy documents show which company issued your coverage.

Other products

Amica Life sells fixed annuities only: a multi-year guaranteed annuity (MYGA) bought with a lump sum, a flexible premium deferred annuity that accepts contributions over time, and a single premium immediate annuity for guaranteed income starting right away. They can be funded with IRA or 401(k) rollovers or with after-tax savings. Amica does not sell variable or indexed annuities. See fixed annuities: how they work, what they cost, who they suit.

Buying and service

You buy from Amica's own representatives, by phone at 800-619-6077 (weekdays 8 a.m. to 8 p.m. and Saturdays 9 a.m. to 4:30 p.m. Eastern time) or by starting a quote online. Online quotes and applications are not available in every state. Because there is no agent commission structure, the process is closer to buying online than to working with a captive agent, and you will not get in-person advice beyond what Amica's offices provide.

Existing life and annuity customers can call 800-234-5433 (weekdays 8 a.m. to 7 p.m. Eastern time), use live chat, or manage policies through an Amica online account and the Amica mobile app. Life and retirement mail goes to Amica Life Insurance Company, P.O. Box 9700, Providence, RI 02940-9700.

Claims

To report a death, beneficiaries call 800-234-5433, extension 89071, weekdays from 8:30 a.m. to 5 p.m., or report the claim online. An Amica account is not required. Amica needs the insured's name and date of death to start; it then reviews the policy, verifies the beneficiaries, sends them claim forms and asks for a death certificate.

Amica says that once all claim requirements are received, a claim is generally settled within 5 to 10 business days, although contested claims can take longer. Grieving families also get free access to Empathy, an app and service offering a dedicated care manager, help with funeral arrangements and closing accounts, and guidance on probate. See how to file a life insurance claim.

Ratings and reputation

• AM Best: A+ (Superior) financial strength and "aa-" issuer credit rating for Amica Life, affirmed March 17, 2026, when AM Best revised the outlook to stable from negative for Amica Mutual, Amica Property and Casualty and Amica Life. AM Best assessed Amica Life's balance sheet strength as strongest, its operating performance as adequate, and said the outlook change reflected the stabilization of its parent.
• J.D. Power: Amica Life was not among the 23 brands ranked in the J.D. Power 2026 U.S. Individual Life Insurance Study. Amica's property insurance business has won many J.D. Power awards; the company says it ranked #1 for customer satisfaction among homeowners and renters insurers in 2025. Those awards do not measure its life insurance.
• S&P, Moody's, Fitch: Amica's site lists only the AM Best rating.

Who it suits

Amica Life suits people who already like Amica's service on their car or home, want a straightforward term or whole life policy from an A+ rated company, and are comfortable buying by phone or online without an agent. The 25-year term option and conversion right add flexibility. It suits less well people who want universal or indexed life, help from a local advisor, or a wide choice of riders, and buyers who want quotes from several insurers at once may prefer an independent broker.

• Strengths: A+ (Superior) AM Best rating affirmed in March 2026; licensed in all 50 states, including New York; term lengths from 10 to 30 years including 25, with conversion; published claim settlement target of 5 to 10 business days.
• Weaknesses: Small, simple product line with no universal life or final expense; few published riders beyond terminal illness and conversion; online quotes not available in every state; the parent's 2022 and 2023 P&C losses put the ratings on negative outlook from February 2024 to March 2026.

How to contact Amica Life