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Last updated June 16, 2009
American National was organized in 1905 by Willam Lewis Moody, Jr. The company has grown into a major American insurance corporation that now operates in all 50 U.S. states. Although a publicly traded company, most stock is still controlled by the Moody family through Moody Foundation and Libby Shearn Moody Trust.
The company offers a wide array of insurance products and services including life insurance, annuities, health insurance, property and casualty insurance, credit insurance and pension plan services. Mutual funds and other securities products are distributed through its broker-dealer subsidiary, Securities Management and Research, Inc. Through its subsidiary, ANREM, the company founded and developed the large-scale housing development, South Shore Harbour, in League City, Texas.
The four types of life insurance that American National Insurance Company offers are whole life insurance, universal life insurance, variable universal life insurance and term-life. Whole life insurance, a lifelong policy, where the owner of the policy continuously pays the premiums and, then, the insurance company in turn pays the death benefits. The policies are priced for individuals to keep for long periods of time and are set based on age at purchase.
Universal life insurance is a form of cash value insurance. Such policies allow buyers to vary payments in time and amounts as long as the total amount of the premium paid over a period of time.
Variable universal life insurance, similar to universal life, builds cash value. This value can then be invested into a large variety of separate accounts. The flexibility in universal life insurance policies is also seen in variable universal life. The main difference between the two is variable life’s ability to invest in these separate accounts, like that of mutual funds.
Term-life is a relatively cheap type of insurance policy that provides coverage for a set period of time, either a contracted number of years or to a named age. In these policies, the insurance company pays for out death benefits to the surviving family of the policyholder so long as the specific contract is still in force.
Contact american national insurance Company at:
American National Insurance Company One Moody Plaza Galveston, TX 77550-7999 Telephone: (800) 899-6806
Sources: “American National Insurance Company,” Wikipedia, June 2009; “Life Insurance,” American National Insurance Company web site, 2009