Life Insurance FAQs

1. Our policies are “portable” – this means, if you purchase the policy in Cayman and move to another country, the coverage remains in force as long as the premium payments are maintained.

2. The reason our prices are so competitive is because we use the same premium rates that Americo uses in the United States , a competitive market with over 1500 Life Insurance Companies.

3. When we provide you a quote for 10 15, 20 or 30 year Term Life plans, this means that for the period of years you select, the premiums and death benefits are guaranteed.

4. We encourage our clients to consider the purchase of 20 or 30 year term life products – this is because while one is relatively young and healthy, they can get our preferred rates and have it guaranteed at this low rate for the term period.

5. Our Universal Life products have a benefit that allows you to insure husband/wife and chilren under on policy.

6. We pay for the medical underwriting requirements of the company.

7. When acquiring life insurance for the coverage of a bank mortgage, please keep in mind that our policies are not “decreasing term” policies – the face value remains the same, even as your mortgage obligation decreases – this of course leaves more to the beneficiaries in the long run as the mortgage is paid off.

8. Our “Money Back” term life policies provide for a slightly higher premium, however, at the end of the policy period, whether is be 15, 20 or 30 years, the policy holder receives back 100% of the total premiums paid. If the policy is cancelled after 5 years, a percentage of the premiums paid are refunded.

9. Americo is rated A- (excellent and strong) by A.M. Best and Standard and Poor, two of the most respected independent evaluators of insurance company strength and performance.

10. Americo is a registered and licensed company approved to do business in the Cayman Islands . It is supervised by the Cayman Islands Monetary Authority. Because of this, all persons have the protection of the Monetary Authority in the event of any dispute arising under a policy.

11. Our Universal Life Policies carry a “guaranteed minimum rate”, but your funds are actually credited with a current interest rate. Different to Term Insurance, the premiums for Universal Life plans are guaranteed for LIFE (not just a fixed period of time).

12. As a United States company, all of our policies are issued in U.S. Dollars. Sum Insured (face value) conversions are made at the rate of .82, premium conversions are made at .84 when paying in C.I. dollars.

13. Further information about Americo can be found at the companies web site, It includes a history of the company, detailed financial information and product highlights.

14. Americo is exclusively represented in the Cayman Islands by Cayman Insurance Centre and its licensed agents.