Old American Insurance Company
Old American Insurance Company, founded in 1939 and a subsidiary of Kansas City Life, provides final expense and juvenile whole life insurance to seniors and families through a captive network of over 2,500 agents across 47 states.
- Company typePrivate
- Founded1939
- HeadquartersKansas City, United States
- Headcount251–500
- GTM typeB2C
- OfferingServices
What Old American Insurance Company does
Old American Insurance Company, founded on December 11, 1939, and headquartered at 3520 Broadway in Kansas City, Missouri, is a wholly-owned subsidiary of Kansas City Life Insurance Company (acquired in 1991) and part of the Kansas City Life Group of affiliated companies. The company specializes in final expense whole life insurance for the senior market and offers a complementary juvenile whole life product called Peace of Mind for Tomorrow. Its product portfolio is narrow by design: final expense policies provide up to $25,000 in tax-free death benefits with level premiums for life, options for an Immediate Death Benefit or a Two-year Modified Graded Death Benefit for applicants aged 40–80 with health issues, no medical exam requirement, guaranteed non-cancelability, and cash value accumulation. Juvenile policies cover children from 15 days to 15 years for $5,000 or $10,000 with a 10-year premium payment window and lifetime coverage.
Old American Insurance Company firmographics
Firmographics- Name
- Old American Insurance Company
- Legal name
- Old American Insurance Company
- Website
- https://oaic.com
- Company type
- Private
- Founded year
- 1939
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Old American Insurance Company, founded in 1939 and a subsidiary of Kansas City Life, provides final expense and juvenile whole life insurance to seniors and families through a captive network of over 2,500 agents across 47 states.
- Ownership category
- akta.pro rank
Old American Insurance Company industry classification
Industry- Product category
- Final Expense Life Insurance
- NAICS
- Direct Life Insurance Carriers (524113), Insurance Carriers and Related Activities (524)
- SIC
- Life Insurance (6311)
- akta.pro primary industry
- Final Expense / Burial Life Insurance (FSAIABAF)
- akta.pro secondary industries
- Whole Life Insurance (FSAIABAA), Guaranteed Issue Whole Life Insurance (FSAIABAG)
Keywords
Where Old American Insurance Company is headquartered
LocationHeadquarters
- HQ city
- Kansas City
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Old American Insurance Company business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Marketing or Sales, Operations, Infrastructure, Technology or R&D, Others
Revenue model
- Final Expense Life Insurance Premiums: Whole life insurance policies sold to seniors aged 40-80 for covering final expenses. Premiums are recurring payments that build cash value. Policies can pay up to $25,000 in death benefits tax-free.
- Juvenile Insurance Premiums: Life insurance policies for children from 15 days to 15 years. Premiums paid over 10 years with coverage lasting the child's entire life.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Final Expense Insurance - Whole Life |
| Subscription | Monthly | Two-year Modified Graded Death Benefit |
| Unit Pricing | Multi-year contract | Juvenile Insurance - Peace of Mind for Tomorrow |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Old American Insurance Company product offering
Product offeringCore offering
Old American Insurance Company underwrites and sells final expense whole life insurance policies to U.S. consumers aged 40–80, with tax-free death benefits of up to $25,000, available in Immediate Death Benefit and Two-year Modified Graded Death Benefit options. It also offers a juvenile whole life insurance product ("Peace of Mind for Tomorrow") for children aged 15 days to 15 years, with $5,000 or $10,000 coverage paid over 10 years and remaining in force for life. All products are distributed through a captive field agent network.
Product overview
Old American Insurance Company offers a focused portfolio of life insurance products centered on final expense and juvenile coverage. The core offerings include Final Expense Insurance (a whole life policy providing up to $25,000 in tax-free benefits with options for Immediate Death Benefit or Two-year Modified Graded Death Benefit) and the Peace of Mind for Tomorrow juvenile insurance product for children aged 15 days to 15 years. The company serves the senior market exclusively, with products designed to relieve emotional and financial burdens on families.
Differentiator
Problem solved
Functional benefit
Products and services
- Final Expense Insurance Whole life insurance product designed to cover final expenses for seniors aged 40–80, offering coverage up to $25,000 in tax-free death benefits. Available with either an Immediate Death Benefit or a Two-year Modified Graded Death Benefit option; no medical exam required and includes a living will and vital information registry.
- Whole Life Final Expense — Immediate Death Benefit Final expense whole life insurance plan available in four plan options to fit age, health, and financial situation. Full death benefit is paid from day one of coverage; premiums are paid over the life of the policy or paid up in 10 years.
- Two-year Modified Graded Death Benefit Final expense whole life insurance plan designed for clients aged 40–80 with health issues. Benefits are modified for the first two years: natural death in the first two years pays return of premium with 10% annual interest compounded daily; accidental death in the first two years pays the full face amount.
- Peace of Mind for Tomorrow (Juvenile Insurance) Whole life insurance policy for children aged 15 days to 15 years. Coverage available in $5,000 or $10,000 amounts, with level premiums payable for 10 years and the policy then paid up; coverage continues for the child's entire life. A Discount Pre-Payment Plan allows a single payment equal to just under 8 years of premiums.
Quantifiable outcome
- Nearly 200,000 policyholders served
- +3 more outcomes
Companies that use Old American Insurance Company
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
Old American Insurance Company technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Old American Insurance Company partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Sunset Financial Services, Inc.minorSunset Financial Services operates as a full-service brokerage firm and Registered Investment Advisor. Member of FINRA and SIPC. Offers investment options including variable life, variable annuities, mutual funds, stocks, bonds, and trusts. Wholly-owned subsidiary of Kansas City Life Insurance Company.
Scale indicators5 records
Recent moves6 records
Expansion highlights4 records
Old American Insurance Company competitors and assessment
Company assessmentDirect peers
- Globe Life: Globe Life operates United American and Liberty National, both direct writers of final expense and whole life insurance to the senior market. Highly comparable to Old American in product mix, agent-led distribution, and target demographic.
- American Amicable Life Insurance Company: American Amicable is a direct competitor specializing in simplified issue and final expense whole life products for seniors aged 50-85. Closely aligned with Old American's simplified-issue, no-medical-exam product design and agent distribution model.
- Lincoln Heritage Life Insurance: Lincoln Heritage sells "LifeChoice" final expense policies to seniors through a national agent force. Same customer segment, same simplified-issue whole life product, and similar agent-driven GTM as Old American.
- Royal Neighbors of America: Royal Neighbors is a fraternal benefit society offering simplified issue whole life and final expense coverage to middle-aged and senior women. Comparable niche specialization, target demographic, and simplified-issue underwriting approach.
- Sentinel Security Life Insurance Company: Sentinel Security Life underwrites senior-focused whole life and final expense policies through independent agents. Direct overlap in product type, target customer (seniors 40-85), and simplified-issue underwriting methodology.
Broad incumbents
- Mutual of Omaha: Mutual of Omaha is a broad incumbent insurer offering final expense and whole life products to seniors, alongside Medicare Supplement and other lines. Overlaps directly with Old American in the final expense category but operates a much wider portfolio.
- Transamerica: Transamerica is a broad incumbent life insurer offering whole life, final expense, and term products with both agent and direct-to-consumer channels. Comparable product lines and senior target market, but with much larger scale and broader portfolio.
- Corebridge Financial (AIG Life & Retirement): Corebridge, the Life & Retirement arm of AIG, offers whole life, universal life, and senior-focused insurance products. Overlaps with Old American in life insurance for the senior demographic but operates at much greater scale across multiple product lines.
Market position
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Old American Insurance Company social profiles
Digital presenceOld American Insurance Company compliance and trust
Trust signalCompliance2 records
Old American Insurance Company financial estimates
Financial estimateRevenue estimate
Valuation estimate
Old American Insurance Company leadership team
Management profileNumber of profiles
Profiles1 record
Old American Insurance Company funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Old American Insurance Company M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Old American Insurance Company
What does Old American Insurance Company do?
Old American Insurance Company underwrites and sells final expense whole life insurance policies to U.S. consumers aged 40–80, with tax-free death benefits of up to $25,000, available in Immediate Death Benefit and Two-year Modified Graded Death Benefit options. It also offers a juvenile whole life insurance product ("Peace of Mind for Tomorrow") for children aged 15 days to 15 years, with $5,000 or $10,000 coverage paid over 10 years and remaining in force for life. All products are distributed through a captive field agent network.
Is Old American Insurance Company a public or private company?
Old American Insurance Company is a private company. It is classified as corporate owned and is currently operating.
When was Old American Insurance Company founded?
Old American Insurance Company was founded in 1939. It employs 251 to 500 people.
Where is Old American Insurance Company based?
Old American Insurance Company is headquartered in Kansas City, United States, in the North America region.
How does Old American Insurance Company make money?
Two revenue lines are on record. Final Expense Life Insurance Premiums are the primary driver. The others are juvenile Insurance Premiums.
Who are Old American Insurance Company's main competitors?
Direct peers on record are Globe Life, American Amicable Life Insurance Company, Lincoln Heritage Life Insurance, Royal Neighbors of America and Sentinel Security Life Insurance Company. Broad incumbents are Mutual of Omaha, Transamerica and Corebridge Financial (AIG Life & Retirement).
Does Old American Insurance Company have an API?
No public API is recorded for Old American Insurance Company.
What industry is Old American Insurance Company in?
Old American Insurance Company's product category is Final Expense Life Insurance. Its primary akta.pro industry code is FSAIABAF, Final Expense / Burial Life Insurance, with a secondary code of FSAIABAA, Whole Life Insurance. Its NAICS code is 524113 and its SIC code is 6311.