Business Details
50+ Years
experience
Trusted Life Insurance and Annuity Solutions in Phoenix
Founded in 1954, American Savings Life Insurance has established itself as a trusted provider of life insurance and annuity products. Our family-managed operations have consistently prioritized conservative investment strategies and financial stability, ensuring robust solvency ratios that exceed industry standards. With over 1,000 shareholders and a 70-year legacy, we specialize in niche life insurance solutions and multi-year guaranteed annuities tailored to individual financial needs. Our low-overhead business model enables competitive rates while maintaining exceptional service quality. Backed by a 30-day free look period and penalty-free withdrawal options, we emphasize transparency and client satisfaction.Our team of experienced professionals, including leadership with decades of industry expertise, remains committed to delivering reliable financial products. Recognized for our strong asset-to-liabilities position, we provide policyholders with security through market fluctuations. Operating in select states, we focus on personalized service through directly appointed independent agents. Our financial strength is evidenced by consistent profitability, a 20-year average return on equity of 8.7%, and $71 million in invested assets. We remain dedicated to the principles of frugality and conservatism that have guided us since our founding in Phoenix, Arizona.
Services
Life Insurance
Annuities
Policy Loans
Youth Life Insurance
Multi-Year Guaranteed Annuities
Details
- Year established: 1954
Highlights and features
- 70 years of experience in life insurance and annuity products
- Exceptional solvency ratio of $115.23 assets per $100 liabilities
- Conservative real estate loan investment strategy since 1954
- Low overhead business model enables competitive rates
- 20-year average return on equity of 8.7%
Associations and certifications
- BBB Accredited
What people say
Great service
Consistent returns
Secure investments
Professional team
Transparent operations
Services
Life Insurance
We offer permanent life insurance policies with guaranteed rates and fixed death benefits. Our Youth Life Insurance Plan provides coverage for children aged 15 days to 17 years with premiums starting at $25 annually. Policies include a 6-month money-back guarantee and optional guaranteed interest accounts for additional savings. Our conservative underwriting approach accommodates children with health conditions without requiring medical exams.
Annuities
Multi-Year Guaranteed Annuities provide fixed interest rates for terms of 1-5 years with lifetime minimum guarantees. Available in traditional IRA, Roth IRA, and non-qualified accounts, these annuities offer penalty-free withdrawals for chronic illness or nursing home confinement. Our annuities feature market value adjustments and surrender charge waivers for annuitization, with rates up to 5.25% for longer terms.
Policy Loans
Policyholders can access cash value through loans with flexible repayment options. We offer three loan types: specific amount loans, maximum cash value loans, and premium payment loans. Interest rates vary by policy type with annual advance charges. Our streamlined process requires signed loan request forms and provides clear documentation of loan terms and conditions.
Youth Life Insurance
This permanent whole life policy locks in lifetime premiums for children aged 15 days to 17 years. Death benefits range from $5,000 to $20,000 with no gender-based pricing differences. The plan includes a guaranteed interest account option for additional savings growth up to the death benefit amount. Available exclusively in Arizona and Utah with simplified underwriting for health conditions.
Multi-Year Guaranteed Annuities
These fixed deferred annuities guarantee interest rates for 1-5 year terms with 3% lifetime minimum guarantees. Available with single premiums between $10,000-$100,000, they offer tax-deferred growth and multiple withdrawal options. Features include 10% annual penalty-free withdrawals, death benefit riders, and market value adjustments. Currently available in 15 states with surrender charge periods matching term lengths.
People
Byron Allen
President / CEO
Magna cum laude graduate of Arizona State University with dual degrees in Accountancy and Computer Information Science. Has worked at American Savings Life since 1993 in various roles including loan servicing clerk, financial officer, and vice-president. Leads with a focus on conservative financial management and community involvement.
E. Paul Whetten
Executive Vice President / COO
Magna cum laude graduate of Arizona State University with a Master's degree from Northern Arizona University. Brings 17 years of financial services experience and teaches business at Mesa Community College. Active in community leadership with extensive Boy Scouts involvement and missionary service in Chile.
John Shirts
CFO
Certified Public Accountant and CFA Charterholder with master's degrees in Accountancy from Brigham Young University and Operations Research from Columbia University. Joined in 2023 with 21 years of corporate finance experience in the semiconductor industry. Specializes in financial modeling and strategic planning.
Michael L. Frahm
Senior Vice President
Holds multiple industry designations including Chartered Financial Consultant and Certified Compliance Professional. Combines 12 years of financial planning experience with 25+ years in home office operations. Supervises key departments including underwriting, compliance, and product development while maintaining teaching and publishing credentials.
Linda Williams
Administrative Assistant
Has served American Savings Life since 2015 providing administrative support and customer service. Brings extensive travel experience and organizational skills from three years touring with a singing group. Manages day-to-day office operations and agent support functions.
Questions
How long has American Savings Life been in business?
We've been operating continuously since April 1954 in Phoenix, Arizona.
What makes your annuity rates so competitive?
Our low overhead business model and conservative investment strategy generate consistent returns.
How can I verify your financial strength?
Request our Independent Comparative Report showing superior solvency ratios versus industry averages.
Do you offer policy loans?
Yes, we provide flexible policy loan options with clear terms and conditions.
Are your annuities available nationwide?
Our Multi-Year Guaranteed Annuities are currently available in 15 specific states.
What youth insurance options exist?
We offer guaranteed whole life policies for children with premiums starting at $25 annually.
