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Amalgamated Life Insurance Company
About the Company
Amalgamated Life Insurance Company was formed in 1943. They specialize in group life insurance for trade union sponsored groups. Known as America's Labor Insurance Company, they insure unions, health and welfare funds, and their members. They cover over 100 public and private unions.
Amalgamated Life is licensed to insure in 19 states. They have offices in Washington DC, Boston, and New York. They cover over 1.1 million union members and their families with life insurance, health insurance, disability, and pension coverage. They have $15 billion in life insurance in force.
Term Life Insurance Products
Amalgamated Life Insurance Company offers the following term life insurance products:
- Basic group term life insurance: This product also offers a death benefit
- Voluntary payroll reduction group level term life insurance
- Voluntary payroll reduction group Decreasing Term Life Insurance
- Voluntary payroll deduction intermediate term disability: This programs offers up to two years of income replacement.
- Group short term disability: This product offers up to six months of income replacement.
Additional Life Insurance Products
On top of term life insurance products, Amalgamated Life Insurance Company offers the following additional life insurance products:
- Voluntary life insurance with cash value
- Paid up retiree life insurance
- Senior Life Insurance: A whole life product that is issued to people from 55 to 75 years of age
- Medicare supplemental insurance
- Basic group accidental death and dismemberment
Amalgamated Life Financial Ratings
A.M. Best: A (Excellent)
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