AAA Life Insurance Overview
AAA Life Insurance Co. has been servicing since 1969. One of the advantages of this life insurance is that membership is not a requirement. Of course, If you become a member, you get some benefits, such as discounts.
- The membership is not a requirement to purchase life insurance from AAA Life Insurance Company.
- If you become a member, you can benefit from some privileges such as discounts.
- You don’t have to take a medical exam for some term and whole life insurance options.
We share a comprehensive AAA life insurance review in this article. In this way, you can make an evaluation before purchasing.
AAA Life Insurance Options
There are 3 types of life insurance offered by the company. These are whole, term, and universal life insurance.
AAA Whole Life Insurance
This company promises life insurance worth $ 25,000. This coverage automatically covers insured people between the ages of 45 and 85. However, if death occurs within the first two years after you take out life insurance, AAA will not pay the entire policy amount. But if a death accident occurs, this rule does not apply. AAA Life Insurance members and their wives/husbands may take advantage of a $60 annual discount on guaranteed issue whole life.
Besides, this insurance company provides traditional whole life insurance (coverage up to $75,000). However, a medical examination is a necessity for being insured. To get a discount, we recommend you to review the company’s membership terms.
AAA Term Life Insurance
AAA Life Insurance Company offers two different options for term life insurance. The first of them is traditional term life insurance. You must need a medical exam to qualify for a traditional policy. This option also provides coverage from $100,000 to $5 million.
When it comes to term life insurance, another option is “ExpressTerm”. It is enough to answer a few health questions for this alternative of AAA Life Insurance. Also, the medical exam is not a requirement. However, the coverage offered by this option is lower compared to traditional. Its coverage options range from $25,000 to $500,000. You can buy ExpressTerm policies on the internet.
There are coverage periods of 10, 15, 20, and 30 years in both term life insurance packages. Also, If you are a AAA member, you can receive a discount for premium payments. In addition, if you purchase auto insurance and home insurance coverage together with traditional term life insurance, you can provide some savings.
AAA Universal Life Insurance
This insurance company provides coverage from $100,000 to $5 million. AAA offers a universal life insurance policy called a LifeTime. This is the first of the insurance options that have been going on entire your life. Another alternative is “Accumulator”. If you prefer the LifeTime package, you pay a fixed premium and have more guarantees. The Accumulator is ideal for people who desire to utilize the cash value later. This support can be used for your children’s university expenses or retirement.
There is an expected number of complaints about AAA Life Insurance Company according to data from the National Association of Insurance Commissioners.
More Information About AAA Life Insurance
You can get accident insurance and annuities from AAA Life Insurance.
But you need a membership for purchasing AAA accident insurance. This insurance covers accidental injury and death. For example, falls caused by an accident is s under the guarantee of accident insurance. When you go to the hospital, your insurance covers your hospital expenses. However, damages caused by risky actions that you do with your consent are not covered.
There are 3 annuity alternatives in AAA Life Insurance. One of them requires a prepayment of $ 10,000. For others, you must pay $ 3,000 deposits. We advise you to consult with a financial expert to choose the right policy for you.