Insurance Quotes

Get quick and easy insurance quotes

Currently insured?
Yes No

Valid zip code required

Ameriprise Financial Life Insurance

About Ameriprise Financial Company

Since 1894, Ameriprise has focused on shaping financial solutions designed to meet clients' needs. This began with their earliest products, the investment certificate and their first mutual funds in the 1940s, and continues today with insurance and annuities. Ameriprise helped pioneer financial planning in the 1970s, and this remains their core service today.

Ameriprise Financial, Inc. (NYSE: AMP) is a company that offers financial advice and products. It is the successor to American Express Financial Advisors (AEFA), which was a subsidiary of the American Express Company. In 2005, American Express launched the spin-off of AEFA as an independent company. The new name came into being on Aug. 1, 2005, and the transaction closed on September 30, 2005. James Cracchiolo is the chairman and chief executive officer of Ameriprise. The company's headquarters are in Minneapolis, Minnesota.

Ameriprise Financial Life Insurance Says

Ameriprise offers four different types of life insurance. These are term life, whole life, universal life, and variable universal life. Term life insurance offers the insured life insurance protection for a specific number of years. Whole life insurance combines permanent protection with a savings component. As the policy gains value, the insured may be able to borrow up to 90% of their policy's cash value tax-free, although loans reduce the policy's death benefit and cash value, and may trigger a taxable event if the policy lapses.

Universal life is similar to whole life with the added benefit of potentially higher earnings on the savings component. Universal life policies are also highly flexible in regard to premiums and face value. Premiums can be increased, decreased or deferred, and cash values can be withdrawn. The insured may also have the option to change face values. Universal life policies typically offer a guaranteed return on cash value. The insured will receive an annual statement that details cash value, total protection, earnings, and fees. Variable Life generally offers fixed premiums and control over the insured's policy's cash value. Their cash value is invested in their choice of stock, bond, or money market funding options. Cash values and death benefits can rise and fall based on the performance of the insured's investment choices. Although death benefits usually have a floor, there is no guarantee on cash values.

Contact Ameriprise Financial at:

Ameriprise Financial
70400 Ameriprise Financial Center
Minneapolis, MN 55474
Telephone: (800) 862-7919

Sources: "Buying Life Insurance; What kind & how much?" Ameriprise Financial web site; "Ameriprise Financial,” Wikipedia, June 2009; “Our History,” Ameriprise Financial web site, 2009, “Ameriprise Financial,” A.M. Best web site, October 2008

Ready to get a quote?

Get quick and easy insurance quotes

Valid zip code required

Ask the Insurance Expert
Penny Gusner Consumer Analyst
Penny Gusner has been working in the insurance business for more than 10 years. She researches your questions, from the routine to the bizarre, with equal enthusiasm. Read More

Please Enter Valid Question

Thank You, Your message has been received. Penny typically answers questions within two working days. Note that due to the volume of questions we receive, not all may be answered. Ask another Question
Tell us your thoughts
0 Responses to "Ameriprise Financial Life Insurance "

No Comments

What do you think? You can add a helpful comment to this page by filling out the form below.