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I am a soldier and I bought the policy before 6 years. Did you say a letter and check in the mail today, the company had reached an agreement with the government.

2 Thoughts on Should I tell the life insurance policy by Horizon American-Amicable Life Insurance Company of Texas?
  1. Reply
    lesliepham_bui
    April 6, 2013 at 9:57 pm

    It depends. The best thing to do is take your policy to a life insurance agent in your town. Have him/her review your policy. Ask the same question. By reviewing the policy, the agent will have a better idea of the type of policy you have (term or permanent). They can tell what kind of company Horizon Life is (financial strength, claim history, reputation, etc.) By informing you of the information and with some guidance, you are in a better position to answer your question. I strongly recommend a life insurance specialist– As opposed to multi-line agents (i.e. auto, home insurance, etc.) If you are considering replacing the existing policy, NEVER CANCEL it until your are approved by the new company. Good Luck. Let us know what you decided!

  2. Reply
    MostChoice.com
    April 6, 2013 at 10:49 pm

    You probably already know this, but the American-Amicable Life Insurance Company of Texas was sued by the Securities and Exchange Commission for engaging in shady selling practices. It involved the Horizon Life line of products that was part of the “Building Success” program. The settlement calls for $ 10 million to around 57,000 military personnel and a refund of $ 1.4 million to Fort Benning soldiers for a program sold there. (link below to the SEC litigation release).

    I would look elsewhere for investment and life insurance since this company appears to have been involved in less than upright business dealings. I would think about what you want out of a life insurance plan and what you would want out of an investment before you speak to anyone about either product. Talk to friends and make sure you understand any investment or insurance plan you might be considering. MostChoice.com has articles explaining the different types of life insurance and annuities, and you can also compare plans through the site and speak to multiple state-licensed insurance agents without cost or obligation.

    Before you speak to an insurance agent, tell him/her exactly what you want and don’t settle for anything less than that.

    You can find MostChoice.com here: http://www.mostchoice.com/life-insurance.cfm

    Hope this helps,
    [email protected]

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