American Mayflower Life Insurance Company of New York
This company began in New York City in 1964 as the Animal Insurance Company of America. From those humble but necessary beginnings, it was purchased by the First Colony Life Insurance Company. Today, the American Mayflower Life Insurance Company of New York is licensed in New York, New Jersey, Connecticut, Maryland, Virginia, Rhode Island, and Florida. Almost 95 percent of this company’s business is still in New York State, but it now exclusively insures people’s lives. The company is currently a wholly-owned subsidiary of First Colony Life Insurance Company and GE Finance Assurance Holdings Incorporated. American Mayflower Life Insurance Company of New York has more than $9.5 billion insurance policies in force. Total assets are more than $class="container" million.
American Mayflower Products
The American Mayflower Life Insurance Company specializes in term life insurance and universal life insurance. Their term life insurance includes the following:
- Term life insurance policies can be bought for people up to age 75.
- Terms of five, ten, fifteen, twenty, or thirty years are available.
- Shorter terms are geared to people between the ages of 50 and 55 for short-term needs like mortgages and business loans.
- This company has term insurance with guaranteed level premiums for the length of the term.
- After the period of the term, premiums will increase yearly until the owner reaches 80.
- The owner may convert the policy to a permanent life policy created for this purpose.
- Permanent life policies must be written for the same face value, but with a higher premium than the term insurance.
- Special rates are available for non-smokers, people with a good driving record, and people with good health histories (including no history of cancer, low cholesterol, low blood pressure, no substance abuse, and no genetic factors that might suggest an early death).
American Mayflower Life Insurance Ratings
A.M. Best: A
Fitch: A+
Moody's: A1
Standard & Poor's: A
The financial strength of a company and potential for prolonged survival are represented by the above ratings.
American Mayflower Company Information
622 Third Avenue, 33rd Floor
New York , NY 1001
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