Cover - Old American Insurance Company

Old American Insurance Company

By David Duford - January 03, 2023 - 5 Mins Read

If you’re starting a career selling insurance, this article is for you! Keep on reading even if you haven’t taken your insurance license yet. This review of Old American Insurance Company will answer all your questions about the agency and give you an insight into the insurance sales business in general. 

Ready to learn more? Let’s begin.

PS: You may want to consult more insurance agency reviews to see how other agencies compare to Old American.

NOTE: As a new insurance agent, you’ll find answers to all your questions in my Free Insurance Agent Resource Guide.


About Old American Insurance Company

Old American Insurance Company was founded in 1939. It’s a fourth generation family-oriented company and the wholly owned subsidiary of Kansas City Life Insurance Company since 1991. Old American is headquartered in Kansas City, Missouri.

From the start, Old American’s philosophy has been that no one should be considered uninsurable based only on their age. That’s why they focused on selling accident insurance policies to the senior market. In 1944, they added life insurance to their portfolio. Today, the company offers final expense, burial insurance, whole life final expense, term protection, as well as juvenile insurance. 

Old American sells insurance in 47 states and the District of Columbia. As of May 2021, the company has more than 2,500 agents and serves over 200,000 policyholders. 

Products Sold And Market Focus

Old American’s primary services include final arrangements planning, social security and retirement income replacement insurance, and charitable giving life insurance. Their target market is seniors aged 50-85. In addition, they also offer a juvenile life policy for ages under one year and up to 15 years old. 

Additional benefits include:

    • A living will which indicates the policy holder’s wishes regarding medical treatment in the event of terminal illness

    • A vital document registry that provides a confidential record of all the client’s documents and accounts

    • A Peace of Mind Planning Guide to assist clients in planning their final arrangements.

How Leads Work

Old American website has no information about how their lead generation works. However, if the agency has no system in place to look for prospects, as a new agent you’ll probably be expected to do cold calling and find leads on your own.

How Getting Paid Works


Most insurance companies, including Old American, pay agents in commissions based on their sales. Old American doesn’t require any upfront investments from new agents.

Is It A Scam, MLM, Pyramid Scheme?

If you’re considering working with Old American Insurance Company, you don’t need to worry about its being a scam, a multi level marketing (MLM) organization, or a pyramid scheme. It is a legitimate agency that holds an A rating with the Better Business Bureau.

My Thoughts

Now that you’ve learned more about selling insurance with Old American Insurance Company, I’d like to offer you some general advice about selling insurance. Here’s more about the importance of mastering one product strategy and owning your book of business. 

Mastering One Product Strategy

When starting in the insurance sales business, you should focus on selling one single product rather than multiple products at the same time. 

Here’s why. 

Specializing in a single insurance product will allow you to become an expert in your niche, while learning about many different products may be too overwhelming, especially if you’re a new agent. In fact, many six-figure producers in my insurance agency—Duford Insurance Group—sell only one type of product.

Whether you decide to join Old American or another insurance agency, you should make sure that the company will allow you to use the strategy of mastering one product.

Owning Your Book of Business

Owning your book of business is another important aspect of selling insurance that you need to take into account before joining an agency. 

So what does it mean? 

If at any point you decide to leave an insurance company and start working with another one, you should get to keep your clients and receive the renewal income from the policies you sold. 

However, many insurance agencies don’t allow this. They will keep your book of business, thus preventing you from getting your renewal commission. It goes without saying that this can be detrimental to your career, especially if you’ve managed to build a large clientele base.

Before joining an agency, you should always make sure that you’re “fully vested” which means that you own your book of business completely from day one. 


Hopefully, this article about Old American Insurance Company and advice about mastering one product and owning your book of business gave you a better understanding of how selling insurance works and what to expect.

If you need additional guidance when it comes to the insurance sales business, feel free to check my Insurance Agent Resource. To learn more about Duford Insurance Group, please check out the FAQ page.

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