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Aflac Life Insurance Review 2022

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A black couple is sitting together on a couch in the middle of talking to a financial advisor when their son shows up in his pajamas to ask a quesiton.
10'000 Hours/Getty Images
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Bottom line: Although Aflac’s life insurance offerings are somewhat limited compared to other carriers and the company received a slightly above-average number of consumer complaints for individual life insurance policies, it does offer a mobile app for easy digital policy management, which may make this carrier a standout for select consumers.

  • Date established: 1955
  • Insurance products offered: Supplemental insurance, including term life and whole life options
  • AM Best financial strength rating: A+ (Superior)
  • NAIC complaint index: 09
  • Availability: Varies depending on product

Since 1955, Aflac has offered a number of supplemental insurance policies, including life insurance and short-term disability, critical illness, dental and vision coverage and many other products. Headquartered in Columbus, Georgia, Aflac may be known for the famous duck commercials, but Bankrate’s Aflac life insurance review reveals it also has a strong reputation for quick claim payout and offering numerous supplemental insurance policies. Aflac offers a unique blend of policies available through employers or policies that can be purchased directly for individual or family coverage.

If you do decide to purchase directly from Aflac, you will only be able to work through one of its independent agents since the life insurance quote process cannot be completed online. You may also find its website resources limited, since many details of the life insurance purchase process and policies are not included. However, Aflac’s highly-rated mobile app can help you with your policy management and claims filing.

Pros Cons
Generally pays out quickly for covered claims No online quote system; you must request for an Aflac independent agent to contact you
Available through the workplace or directly to individuals Limited whole and term life insurance options
An online and mobile app claims center for faster claims processing and policy management Lack of key details online regarding life insurance policies
Widely available, although specific riders and policies may not be available in some states

Aflac life insurance coverage types

Aflac life insurance offers two types of life insurance policies: term and whole life. Depending on your location, different riders are available to add to a policy for greater Aflac life insurance benefits. For example, an accidental death benefit rider or waiver of premium rider may be available for whole and term life policies.

Aflac also offers a life insurance calculator online, so you can receive an estimate of how much life insurance would be ideal for you and your beneficiaries, based on your current debts, projected age of retirement and other factors.

  • Term: Term life insurance is a policy guaranteeing a payout to your beneficiaries if your death occurs within a specified term. Aflac offers term life policies in 10-, 20- and 30-year terms. Riders such as accelerated death payment, waiver of premium benefit and accidental death may also be available as riders. With a term life policy from Aflac, your premiums remain the same throughout the life of the policy.
    • Group term: Group life insurance policies purchased through your employer from Aflac are considered portable, which means you can take it with you when you change jobs or retire if you purchased the policy through work. The maximum payout amount depends on if the policy was purchased through the workplace or as an individual.
  • Permanent: Aflac offers a whole life option, which provides coverage for your entire life instead of a specified term, as long as premiums are paid. The whole life policy also builds a cash value, which you may be able to borrow against if needed. The accelerated death payment, waiver of premium benefit and accidental-death riders are also available for these policies. Premiums will also stay the same over the years, unless you decide to increase or decrease your policy’s cash value. The whole life policy also offers a juvenile life option for purchase. This rider guarantees your child will be insurable when they become adults and are ready to purchase their own life insurance policies.

Aflac life services

In addition to term and permanent life insurance, Aflac’s main insurance products fall under the category of supplemental insurance. Aflac’s plans are intended to cover out-of-pocket expenses that may not be covered by medical insurance, such as copays and deductibles. Plans that Aflac offers include coverage for cancer, critical illness, accident and hospital insurance, along with supplemental vision and dental. Aflac also has coverage options for dental and vision insurance, short-term disability and pet insurance.

Keep in mind that not all policies are underwritten directly with Aflac. Individual policies may be underwritten by American Family Life Assurance Company of Columbus or the Tier One Insurance Company. New York residents may have coverage underwritten by American Family Life Assurance Company of New York. Continental American Insurance Company (CAIC) is the Aflac subsidiary that underwrites group policies. When requesting a quote, you’ll be able to see which underwriting company would be providing your Aflac policy.

Aflac life insurance customer and claims satisfaction

As reported by the National Association of Insurance Commissioners (NAIC), Aflac indexes just over the national baseline index of 1.0 for company complaints filed by policyholders. Aflac’s complaint index of 1.68 for all life insurance products means the insurer has received more registered complaints than normal. However, its individual life insurance index is 1.09, which is about the same as the industry average (1.0). Aflac also earns an A+ (Superior) rating from AM Best, which illustrates the company’s strong historical ability to pay out claims.

Other Aflac perks worth considering

For those unsure of their life insurance needs, Aflac has two online calculators that could help with estimating coverage. The primary life insurance calculator has eight questions to get an understanding of how much life insurance coverage is needed, while the supplemental insurance calculator can provide a picture of how much medical costs might be associated with different procedures.

Aflac social responsibility

In keeping with its insurance products, Aflac’s main corporate social responsibility efforts target disease and treatment efforts for cancer and sickle cell anemia. Its Aflac Childhood Cancer Campaign has raised more than $157 million since 1995 for childhood cancer research, with a large portion of the funds coming internally from Aflac’s employees and independent agents who elect to donate a portion of their payroll or commission. Aflac also supports nonprofit organizations selected by team members through its Aflac Community Giving program.

Not sure if Aflac is right for you? Consider these alternatives

Before deciding if Aflac is right for you, you may want to compare it to some other top life insurers such as the ones below:

Written by
June Sham
Insurance Writer
June Sham is an insurance writer for Bankrate. Before joining the team, she worked for nearly three years as a licensed producer writing auto, property, umbrella and earthquake policies.
Edited by
Insurance Editor
Reviewed by
Director of corporate communications, Insurance Information Institute