AmerUs Life Insurance Co. Historic Overview: Policy Tracking, Mergers, and Current Servicing Guide

AmerUs Life Insurance Company, originally founded as Central Life Assurance Society in 1896, evolved through key midwestern insurance consolidations before being acquired by Aviva plc in 2006. Today, legacy AmerUs life insurance policies are serviced primarily by Accordia Life Insurance Company (a subsidiary of Global Atlantic Financial Group), while fixed annuity contracts are managed by Athene Annuity and Life Company.

Historical Evolution of AmerUs Life Insurance Company

Understanding the history of AmerUs Life Insurance Company requires examining more than a century of American life insurance market consolidation. The enterprise originated in Des Moines, Iowa, in 1896 as the Central Life Assurance Society. Built on mutual insurance principles, Central Life expanded steadily across the Midwestern United States throughout the twentieth century, focusing on traditional whole life insurance and farm-community financial protection.

In 1996, Central Life merged with American Mutual Life Insurance Company, establishing AmerUs Life Insurance Company as the primary operating entity under a holding company structure, AmerUs Group Co. (formerly traded on the New York Stock Exchange under the ticker AMH). This reorganization allowed AmerUs to aggressively scale its market footprint through strategic acquisitions of historic life insurers, including:

• Indianapolis Life Insurance Company: Acquired in 2001, expanding AmerUs's presence in individual indexed universal life policies and traditional permanent insurance.
• Bankers Life Insurance Company of New York: Acquired to establish a regulatory footprint within the State of New York.
• Financial Benefit Life Insurance Company: Integrated to expand fixed annuity production capabilities.

By the mid-2000s, AmerUs Group had built a nationwide distribution network focused on indexed universal life insurance and fixed-indexed annuities, accumulating tens of billions of dollars in policyholder assets under management.

1. Central Life Assurance (1896) + American Mutual Life (1996)
2. AmerUs Life Insurance Co. (Acquired Indianapolis Life & Bankers Life NY)
3. Aviva plc (2006)
   • Accordia Life (2013) (Individual Life Policies)
   • Athene USA (2013) (Fixed & Indexed Annuities)

The 2006 Aviva Acquisition and Rebranding

In November 2006, London-based international insurer Aviva plc completed the acquisition of AmerUs Group Co. in an all-cash transaction valued at approximately $2.9 billion. Following the transaction, AmerUs Life Insurance Company was integrated into Aviva's North American arm, creating Aviva USA.

During the Aviva era (2006–2013), legacy AmerUs policies remained active, but new coverage was issued under the Aviva Life and Annuity Company brand. Des Moines remained the administrative headquarters for Aviva’s U.S. operations, maintaining policy records and claims processing infrastructure for legacy AmerUs policyholders.

The 2013 Restructuring: Division into Accordia Life and Athene

In October 2013, Aviva plc divested its entire U.S. business to Harbinger Group Inc. (which operated Athene Holding Ltd.). To satisfy strategic asset allocation and regulatory criteria, the legacy Aviva USA portfolio—which contained all original AmerUs policies—was divided into two distinct operational businesses:

1. Life Insurance Business: The individual life insurance portfolio (including AmerUs whole life, universal life, term life, and indexed universal life policies) was reinsured and sold to Commonwealth Annuity and Life Insurance Company, a subsidiary of Global Atlantic Financial Group. Global Atlantic established Accordia Life Insurance Company to service and administer these life policies.
2. Annuity Business: The fixed and indexed annuity portfolio (including AmerUs fixed annuities) was retained and integrated into Athene Annuity and Life Company (now part of Athene Holding Ltd., affiliated with Apollo Global Management).

Consequently, any policy originally written under the name AmerUs Life Insurance Company, Central Life Assurance Society, or Indianapolis Life Insurance Company is managed today by either Accordia Life or Athene, depending on the contract type.

Who Services Legacy AmerUs Policies Today?

Because AmerUs underwent multiple corporate reorganizations, policyholders often encounter difficulty identifying the correct insurer to process death benefits, update beneficiaries, request cash value withdrawals, or make premium payments.

• AmerUs Policy Type
  • Life Insurance Contracts (Term, Whole, Universal Life)
    • Accordia Life Insurance Co. (Global Atlantic Financial)
  • Annuity Contracts (Fixed & Indexed Annuities)
    • Athene Annuity & Life Co. (Apollo Global Management)

1. Accordia Life Insurance Company (Global Atlantic)

Accordia Life acts as the administrative carrier for individual life insurance products issued historically by AmerUs. If the document specifies term life, whole life, universal life, or variable/indexed universal life, administration falls under Accordia Life.

• Parent Organization: Global Atlantic Financial Group (a subsidiary of KKR & Co. Inc.).
• Primary Products Managed: Legacy AmerUs life insurance policies, Indianapolis Life individual life policies, and Aviva USA legacy life contracts.
• Administrative Focus: Policy reinstatement, beneficiary designation changes, death claim processing, policy loan issuance, and cash surrender requests.

2. Athene Annuity and Life Company

Athene manages the annuity portfolio associated with legacy AmerUs contracts. If the historical policy is an accumulation annuity, single premium deferred annuity (SPDA), or fixed-indexed annuity, service requests are handled through Athene.

• Parent Organization: Athene Holding Ltd. (affiliated with Apollo Global Management, Inc.).
• Primary Products Managed: AmerUs fixed annuities, Aviva legacy annuities, and indexed annuity products.
• Administrative Focus: Annuitization setups, required minimum distributions (RMDs), contract surrender processing, and periodic annuity payout disbursements.

Corporate Transformation Timeline: From 1896 to Present

The following reference table maps the transition of AmerUs Life Insurance Company across its historical milestones to its current 2026 administrative handlers:

How to Manage, Locate, or File a Claim on an AmerUs Policy

Managing a historic AmerUs policy requires verifying the contract number, confirming the specific product type, and contacting the corresponding corporate successor.

1. Locate Document / Policy Number
2. Determine Policy Type
   • Life Insurance
     • Accordia Life Servicing
   • Annuity
     • Athene USA
   • Lost Policy
     • NAIC Locator / State Property

Step 1: Gather Original Policy Documentation

To initiate any service request, locate the physical policy folder or premium billing statement. Essential details include:

• Policy Number: Typically an 8- to 10-digit alphanumeric string.
• Named Insured / Annuitant: Full legal name and Social Security Number of the insured individual.
• Policy Owner: The individual or trust holding legal ownership rights.
• Issue Date and Initial Face Amount: Helps locate legacy entries in archived database systems.

If the policy document is unavailable, locate canceled bank checks, annual policy statements, or federal tax forms (such as Form 1099-R or Form 1095-D) that cite the payment recipient or policy issuer.

Step 2: Identify the Policy Type

Check the contract language to determine if the product is an insurance policy (paying a death benefit upon the death of the insured) or an annuity contract (a tax-deferred accumulation or income product).

• If the contract mentions Death Benefit, Face Amount, Term, or Universal Life, contact Accordia Life.
• If the contract mentions Accumulation Value, Annuitization, Surrender Charge Period, or Guaranteed Interest Rate, contact Athene Annuity and Life Company.

Step 3: Contact the Correct Servicing Carrier

For Life Insurance Policies (Accordia Life / Global Atlantic)

Policyholders and beneficiaries requesting claim forms, address updates, or cash value surrender applications for AmerUs life insurance policies should reach out to Global Atlantic's customer service center:

• Entity: Accordia Life Insurance Company
• Mailing Address: Customer Service Center, P.O. Box 305027, Nashville, TN 37230-5027
• Services: Death claims, change of beneficiary, loan requests, policy reinstatements, tax reporting.

For Annuity Contracts (Athene)

Annuitants seeking payout schedules, tax forms, or beneficiary processing for AmerUs annuity contracts should contact Athene’s policy servicing department:

• Entity: Athene Annuity and Life Company
• Mailing Address: Contact Center, P.O. Box 1555, Des Moines, IA 50306-1555
• Services: Death payouts, account valuation statements, partial withdrawals, direct rollovers.

Step 4: Tracking Lost or Unclaimed AmerUs Policies

If a family member held an AmerUs policy but no paper documentation exists, utilize official insurance recovery databases rather than private search services:

1. NAIC Life Insurance Policy Locator: The National Association of Insurance Commissioners (NAIC) operates a free, secure national search tool. When a request is submitted, participating insurers—including Accordia Life and Athene—search their internal databases for matching records and contact authorized beneficiaries directly.
2. State Unclaimed Property Funds: If a policy matured or a death benefit went unclaimed, insurance regulation requires carriers to escheat funds to the state treasury of the policyholder's last known address. Search state-level unclaimed property portals (such as National Association of Unclaimed Property Administrators at Unclaimed.org) using the insured's full legal name.
3. Iowa Insurance Division Records: Because AmerUs Life Insurance Company was domiciled in Des Moines, Iowa, state insurance filings and historical company records remain cataloged with the Iowa Insurance Division.

Financial Strength and Regulatory Stability of Successor Entities

Policyholders holding legacy contracts written decades ago under AmerUs often express concern regarding the solvency and claim-paying capabilities of successor insurance entities. Legacy AmerUs contracts are backed by the general accounts of Accordia Life and Athene Annuity and Life Company.

Independent credit rating agencies evaluate both entities, reflecting strong capital reserves and robust risk management structures:

• Accordia Life Insurance Company (Global Atlantic): Evaluated favorably by major rating agencies including A.M. Best, Standard & Poor's, and Fitch, supported by parent company KKR's investment management capabilities.
• Athene Annuity and Life Company: Maintains strong financial strength ratings from A.M. Best, S&P, Fitch, and Moody's, supported by substantial capital reserves managed through Apollo Global Management.

State Guaranty Association Protections

In the event an authorized insurance carrier experiences insolvency, state life and health insurance guaranty associations provide regulatory protection to policyholders. Every U.S. state maintains a guaranty association that guarantees policy benefit limits up to statutory caps (typically $300,000 in life insurance death benefits or $250,000 in annuity cash surrender values, depending on state jurisdiction). Coverage is tied to the state of residence of the policyholder at the time of carrier insolvency.

Important Considerations for AmerUs Policyholders

Managing a legacy policy written by AmerUs requires active oversight to ensure maximum financial benefit and legal compliance.

Beneficiary Updates and Ownership Designation

Many AmerUs policies were purchased decades ago, meaning designated primary beneficiaries may be deceased, divorced, or legally incapacitated.

• Revocable Beneficiary Designations: Can be updated at any time by submitting an official Change of Beneficiary form to Accordia Life or Athene.
• Irrevocable Beneficiary Designations: Require written consent from the existing beneficiary before any modification or payout structure change can occur.
• Ownership Rights: Confirm whether ownership is held individually, jointly, or within an Irrevocable Life Insurance Trust (ILIT). Policy ownership dictates who possesses authority to take loans, change beneficiaries, or surrender the policy.

Cash Value Accumulation and Policy Loan Interest

Legacy AmerUs universal life and whole life policies feature cash value accumulation components governed by historical guaranteed minimum interest rates (often ranging from 3.0% to 4.0% in older contracts).

• Policy Loans: Outstanding policy loans accrue interest according to the provisions in the original AmerUs contract. Unpaid loan balances reduce the final death benefit payable to beneficiaries dollar-for-dollar.
• Lapse Risks in Universal Life: Universal life policies rely on internal cash values to fund the ongoing cost of insurance (COI). If interest rates or premium payments drop below historical projections, old universal life policies can face structural underfunding, risking policy lapse unless additional premiums are contributed.

Premium Payment Maintenance

Ensure premium billing addresses are current. If premium payments are missed, policies enter a standard 31-day grace period. If unaddressed, the carrier may execute an Automatic Premium Loan (APL) provision—drawing from accumulated cash value to pay the premium—or convert the policy to Reduced Paid-Up or Extended Term status.

Frequently Asked Questions

Is AmerUs Life Insurance Company still in business?

AmerUs Life Insurance Company no longer operates under its original name. Following acquisitions by Aviva plc in 2006 and a subsequent division in 2013, its life insurance policies are managed by Accordia Life Insurance Company, and its fixed annuities are managed by Athene Annuity and Life Company.

How do I locate a lost AmerUs life insurance policy for a deceased relative?

You can search for lost AmerUs policies using the free NAIC Life Insurance Policy Locator service. You can also search state unclaimed property registries via Unclaimed.org for escheated proceeds, or contact Accordia Life directly if you possess the deceased's Social Security Number and legal death certificate.

Who handles death claims for an old AmerUs Life Insurance policy?

Death benefit claims for AmerUs life insurance policies are processed by Accordia Life Insurance Company (Global Atlantic Financial Group). You must submit a completed claim form, an original certified death certificate, and the physical policy document (if available).

What happened to Indianapolis Life Insurance policies acquired by AmerUs?

Indianapolis Life was acquired by AmerUs Group in 2001 and subsequently integrated into Aviva USA in 2006. Today, legacy Indianapolis Life policies are managed and serviced alongside AmerUs life products by Accordia Life Insurance Company.

Are legacy AmerUs policies still safe and financially guaranteed?

Yes. Legacy AmerUs policies remain legally binding contracts backed by Accordia Life or Athene Annuity and Life Company. Both successor companies hold strong financial ratings from independent rating agencies and are subject to regulation by state insurance departments and state guaranty associations.

Practical Recommendations for Policyholders

If you hold an original AmerUs Life Insurance Company policy document or receive statements from Accordia Life or Athene, follow these steps to secure your policy benefits:

1. Request an Updated Policy Illustration: Contact Accordia Life to request an updated policy illustration for universal life products. This report reveals current cash value, cost of insurance deductions, and projections showing whether current premiums will keep the policy active through maturity.
2. Verify Beneficiary Designations: Review named primary and contingent beneficiaries with the carrier to ensure payouts align with current estate planning goals.
3. Store Contract Numbers Securely: Ensure your estate executor, trustee, or family members know where the physical policy document and current carrier contact details are stored.
4. Confirm Carrier Correspondence: If you move, notify Accordia Life or Athene immediately to prevent annual statements or lapse notices from being sent to outdated addresses.

For complex financial situations, policy restructuring, or estate planning questions involving legacy contracts, consult a qualified fee-only financial planner or an independent life insurance professional.