American Heritage Life Insurance: A Comprehensive Overview
American Heritage Life Insurance Company, a subsidiary of Allstate Benefits, has been a leading provider of supplemental insurance products in the United States for decades. The company specializes in providing voluntary group benefits that enable employers to provide additional financial security to their employees.
About American Heritage Life Insurance
American Heritage Life Insurance was founded in 1956 and is based in Jacksonville, Florida. Its focus is on offering supplemental insurance that complements traditional health and life insurance coverage. The company operates as Allstate Benefits, a division of Allstate Corporation, one of the largest insurance providers in the country. American Heritage Life has earned a reputation for providing reliable and flexible insurance options tailored to the needs of individuals and businesses.
Insurance Products Offered
American Heritage Life Insurance offers a wide range of optional benefits including:
Life Insurance – Term and whole life insurance to provide financial security to policyholders’ families.
Accident Insurance – Coverage for unexpected accidents, including medical expenses and lost wages.
Critical Illness Insurance – Protection against the financial burden of serious health conditions such as cancer, heart attack or stroke.
Work Disability Insurance – Income protection in the event of incapacity to work due to injury or illness.
Hospital Liability Insurance – Coverage for hospitalization and related medical expenses.
These products are designed to provide policyholders with peace of mind by covering expenses that traditional health insurance plans may not fully cover. Additionally, employers can offer these benefits as part of an employee benefits package, improving employee retention and satisfaction.
Acquired by StanCorp Financial Group
In August 2024, it was announced that StanCorp Financial Group, Inc. (parent company of Standard Insurance Company) had entered into an agreement to acquire Allstate’s voluntary benefits business, including American Heritage Life Insurance. This transaction is currently awaiting regulatory approval and is expected to close in 2025.
Following this announcement, AM Best adjusted the Company’s Financial Strength Rating to A+ (Superior) with a negative impact, reflecting the uncertainty surrounding Allstate’s transition to StanCorp.
Financial Strength and Stability
Prior to the acquisition, American Heritage Life Insurance had a strong financial rating due to its association with Allstate Benefits. Plans and employers should remain informed of potential changes that could impact their coverage, premium costs and claims management following the completion of the acquisition.
Despite the pending acquisition, American Heritage Life continues to provide high-quality customer service and claims support to ensure that policyholders receive their benefits efficiently. The Company’s long-standing commitment to policyholders has helped it maintain a strong customer base and reputation in the insurance industry.
How to Contact American Heritage Life Insurance
For policyholders who need help or information about their insurance coverage, American Heritage Life Insurance offers several ways to contact customer service:
Choose the Right Supplemental Insurance
When choosing supplemental insurance, it is important to consider financial stability, customer service, underwriting options, and coverage limits. American Heritage Life Insurance offers several plans that address different financial needs and risk factors. Policyholders should evaluate their specific needs and work with an insurance professional to determine the best coverage options available.
Additionally, employers who offer American Heritage Life voluntary benefits can enhance their employee benefits packages, making their companies more attractive to potential employees and improving employee retention.
Final Thoughts
American Heritage Life Insurance has established itself as a trusted provider of supplemental insurance, helping individuals and families maintain financial security during life’s unexpected events. In light of the impending acquisition of StanCorp Financial Group, policyholders should stay informed of any changes that may affect their insurance coverage. click for more information
