American Fidelity (AMFI) Life Insurance Review

Permanent life insurance policies for military and civilians

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American Fidelity Life Insurance

American Fidelity Life Insurance

Our Take

American Fidelity Life Insurance lacks online tools and policy details and only offers permanent policies. The company’s financial strength outlook is improving but still is not up to par with other major life insurance providers. AMFI is one of the few companies to offer military members the option to convert their Servicemembers’ Group Life Insurance to a permanent policy, but better options are available. We recommend looking elsewhere for your life insurance needs. 

  • Pros & Cons
  • Key Takeaways
  • Specifications
Pros & Cons
  • Tax-deferred cash accumulation on all products

  • Both whole and universal life insurance policies available

  • Living benefits available

  • Flexible payment options

  • Zero complaints with the NAIC

  • No online quotes or pricing estimates

  • No online claims

  • No term policies available

  • Very little policy information online

Key Takeaways
  • In 2021, AM Best changed the outlook for AMFI from negative to stable and gave the company a B++ (Good) financial strength rating. 
  • AMFI is not rated in J.D. Power’s 2020 U.S. Life Insurance Study
  • AMFI is focused on providing permanent policies to military members, but most people would be better off with a less expensive term policy. AMFI doesn’t provide term options. 
  • Year Founded 1956
  • Kinds of Plans Whole life, universal life
  • Number of Plans 2
  • Payment Options Flexible
  • Official Website


American Fidelity Life Insurance Company offers whole and universal life insurance plans with tax-deferred growth and living benefits. We researched American Fidelity’s policy options, customer satisfaction ratings, financial strength ratings, website tools, and available riders to help you compare the life insurance policy options that American Fidelity offers with the competition. 

Company Overview

American Fidelity Life Insurance Company, also known as AMFI, is headquartered in Pensacola, Florida, and has been in business since 1956. Founded by military service member Charles P. Woodbury, the company is focused on extending servicemembers' group life insurance coverage with whole and universal life insurance policies. AMFI represents less than 0.005% of the life insurance market share. The company is licensed in 47 states, although it's unclear on the company website which states are excluded. 

You can’t get a quote online and you’ll need to speak to an agent by phone to get details about the policies offered. The company website doesn’t state whether a medical exam is required to apply for its life insurance products. 

Available Plans

AMFI only offers two plans and provides very few policy details online. Both plans are permanent policies that offer tax-deferred growth and allow policyholders to borrow against the policy. Policies are portable and military members can convert their Servicemembers’ Group Life Insurance (SGLI) to either policy. 

AMFI heavily highlights that all policies provide tax-deferred growth, but that’s not unique to the company—it’s true of other permanent life insurance policies as well.

Future First Universal Life Insurance

A universal life insurance policy is a permanent policy with a cash value component that allows for flexible premium payments. Rather than paying a level amount each month, policyholders can adjust their premiums as long as they meet the minimum requirements to keep the policy in force. 

AMFI doesn’t provide any details about the policy limits, age limits, or underwriting process of the policy online so you’ll need to speak to an agent to get that information. 

Flexible Dollar Builder Whole Life

A whole life insurance policy provides coverage for your entire life, builds cash value, requires level premiums, and guarantees a death benefit. AMFI doesn’t specify online the policy limits or age limits nor does it provide any underwriting details such as a medical exam requirement. You’ll need to call an agent to ask about the details. 

Available Riders

AMFI’s website mentions living benefits, but it’s unclear what those are and whether or not they’re included or available as an endorsement. An endorsement, or rider, is an add-on to an insurance policy that can help you customize your coverage. Common riders include an accelerated death benefit and a children’s term rider. You’ll need to speak with an agent to see what customization options are available to you. 

Customer Service: Only During Business Hours

AMFI has an FAQ page and an online form that can help with some of your questions. If you need to get a quote or policy information, you can call 850-456-7401 or 844-944-4811 on weekdays between 8 a.m. and 4:30 p.m. CT. For questions specific to the Future First Universal Life Insurance Policy, call 866-997-6349. 

There’s no live chat, no direct email address, and no online policy management with AMFI.

Customer Satisfaction: Zero Complaints and No Reviews

Customer service reviews for AMFI are nonexistent on third-party websites and the company isn’t rated in J.D. Power’s 2020 U.S. Life Insurance Study, so it’s difficult to assess whether customers are satisfied. However, AMFI hasn’t had a single complaint with the NAIC in three years. The company’s complaint index is zero (a score of 1 is average). 

Financial Strength: B++ (Good)

AM Best is an independent rating agency focused on the insurance industry that scores companies based on their financial strength. Grades go up to A++, and a high score indicates that the company will be able to reliably pay claims in the future. AM Best affirmed American Fidelity’s financial strength rating of B++ (Good) in 2021. This is an improvement from previous years when the company was under review with negative implications, but there are plenty of insurance companies with A ratings or better that offer similar life insurance products. 

Cancellation Policy: Written Request Required

By law, all life insurance companies must provide a 15-day free-look period, and some states require a 30-day period. That means you can cancel within that timeframe and receive your paid premiums refunded. AMFI doesn’t provide information about its cancellation policy online but states that you can find the information in your individual policy. 

If you want to cancel, you’ll need to submit a written request of cancellation and include your policy number, Social Security number, address, and signature. 

AMFI doesn’t offer online policy management. That can make it a hassle to cancel or file a claim if you’re accustomed to transacting online.

Price of American Fidelity Life Insurance

While AMFI claims to offer affordable pricing, the company doesn’t provide online quotes or pricing estimates. You’ll need to call an agent to get a quote, which will be based on your individual information. Your health status, smoking status, gender, age, and location could all affect your rate. 

How American Fidelity Compares to Other Life Insurance

There are a lot of options when it comes to choosing a life insurance company, and if you’re looking for a whole or universal life insurance policy, there are companies with higher financial strength ratings than AMFI along with great customer satisfaction ratings. AMFI is not necessarily a company to avoid, but you should call to get a quote and ask about policy details so you can compare the company to other providers. 

American Fidelity Life Insurance vs. New York Life Insurance Review

Both AMFI and New York Life offer whole and universal life insurance, and service members can go through either company to convert their Servicemembers’ Group Life Insurance to a permanent policy. For both companies, you’ll need to speak to an agent to get a quote. However, there are several differences between these two companies:

  • New York Life has many more plan options, including term life insurance, than AMFI.
  • New York Life offers online policy management, while AMFI does not.
  • New York Life has a strong history of paying dividends to permanent policyholders, while AMFI does not.
  • New York Life is highly rated in J.D. Power’s 2020 U.S. Life Insurance Study, while AMFI isn’t rated.
  • New York Life has an A++ (Superior) financial strength rating from AM Best, while AMFI’s B++ (Good) rating lags behind.
  • New York Life is a better option for military members looking to convert their SGLI to a whole or universal life insurance policy. The company is more reputable and financially stable than AMFI, and you’ll have many more options when building your policy. 

Read our full New York Life review

American Fidelity Life Insurance vs. Northwestern Mutual Life Insurance Review

Northwestern Mutual is another company that offers military members the opportunity to convert their Servicemembers' Group Life Insurance to a permanent policy, and they offer both whole and universal policies just like AMFI. However, there are a few differences between these insurers:

  • Northwestern Mutual offers many more plan options, including term life insurance, with some pricing estimates.
  • Northwestern Mutual has online policy management, while AMFI does not.
  • Northwestern Mutual pays dividends to permanent policyholders, while AMFI does not.
  • Northwestern Mutual is highly rated in J.D. Power’s 2020 U.S. Life Insurance Study, while AMFI is not rated.
  • Northwestern Mutual has an A++ (Superior) financial strength rating from AM Best, beating AMFI’s B++ (Good) rating.

Northwestern Mutual would be a better alternative to AMFI given the company’s high rankings in customer satisfaction and financial strength. 

Read our full Northwestern Mutual review.

Insurer Number of Plans  Financial Strength Rating (AM Best)  Customer Satisfaction (J.D. Power)  Years in Business
AMFI 2 B++ Not rated 65
New York Life  10  A++ Above average  176 
Northwestern Mutual  17  A++  Above average  164 
Final Verdict

AMFI provides whole and universal life insurance plans, but you need to call for policy details. The company also lacks the online tools that other, more financially stable, companies have. And AMFI does not offer term life insurance, which is the best option for most people. Even if you’re in the military and looking to convert your Servicemembers’ Group Life Insurance into a permanent policy, there are several other companies you can turn to that will better meet your needs. If you’re considering AMFI, we recommend getting more information and a quote so you can adequately compare its offerings with other companies.


All of our reviews of life insurance companies are based on extensive research and analysis of each company based on offerings, customer service, financial stability, cost, and more. For each company, we compared the life insurance products offered, as well as available features, and reported customer experiences. Visit our life insurance review methodology for the full breakdown of what we evaluated for over two dozen companies.