About

American Legacy Life Insurance Company is the parent company of American Century Life Insurance Company, which has a long history of serving families and helping them with their annuity and life insurance needs.

American Legacy Life Insurance Company was formed in 2023 to refine and expand the product and service offerings in the company’s portfolio.

American Century was founded in 1940 in Jacksonville, Texas, as Cherokee Burial Association. In 1980, the Boren family combined this burial association with other similar associations and created the Boren Life Insurance Company.

American Century became American Century Life Insurance Company of Texas in 2000 and American Century Life Insurance Company in 2021 to reflect our commitment to serve a growing number of individuals and families in the 43 states in which American Century is currently licensed to do business. American Legacy is licensed in the states highlighted below.

American Century Life Insurance Company, the direct writing subsidiary of American Legacy Life Insurance Company, has earned a Financial Stability Rating® (FSR) of A, Exceptional, from Demotech, Inc.

Demotech is a Nationally Recognized Statistical Rating Organization (“NRSRO”) specializing in evaluating the financial stability of independent, regional and specialty insurers. Since 1985, Demotech has served the insurance industry by assigning accurate, reliable and proven Financial Stability Ratings® (FSRs) for Life & Health insurers, Property & Casualty insurers, and Title underwriters.

FSRs are a leading indicator of financial stability, providing an objective baseline of the future solvency of an insurer. They are accepted by several government-sponsored enterprises, including Fannie Mae, Freddie Mac, various programs of the United States Department of Housing and Urban Development (HUD), and mortgage lenders as well as premium finance companies.

Demotech is the only company, in addition to AM Best, that is acceptable to insurance carriers of agent E&O policies, and the insolvency exclusion in many policies include companies with Demotech rating of A.

Many consumers and agents are used to seeing an AM Best rating; as a result, we are frequently asked  “What level of AM Best rating is similar to your Demotech ‘A’ rating?”

The quality of financial stability rating is measured by the percentage of companies that became impaired or insolvent a certain number of years after the rating was earned by a company. The chart below compares the impairment percentage of the different levels of Demotech and AM Best ratings in years after a rating was earned by a company.

This analysis shows that a Demotech “A” rating is comparable to an AM Best “A” rating.