The same guys who offer great automobile and travel services also have life insurance products. It’s a name you know and a brand you trust. But is AAA Life Insurance as good as their other services?
We at TermLife2Go are in the business of helping life insurance seekers find the best life insurance companies and policies, catered specifically to each client’s unique health and lifestyle. Is AAA Life the right fit for you?
Disclaimer: we are not AAA Life nor are we affiliated with the company. You can visit the company online at aaalife.com or call them direct at 1-800-684-4222.
AAA Life Insurance reviews
About AAA Life Insurance
AAA Life Insurance is a part of the American Automobile Association (AKA Triple A) founded in the early 1900s. It is most famous for its roadside assistance program.
AAA Life Insurance Company came into existence in 1969. Because AAA had already made a name for itself as a reliable company, they were able to leverage this and attract their existing customers for a new product—life insurance. Today, over 1 million people have AAA Life Insurance Company policies.
Third party rating organizations usually give you a good idea as to the reputation of a company and the quality of products they offer. AM Best Company is the most renowned ratings agency, offering consumers ratings on most life insurance companies. So how did they rate AAA Life Insurance?
SEPTEMBER 08, 2016 – A.M. Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a-” of AAA Life Insurance Company (AAA Life) (Livonia, MI), AAA Life Insurance Company of New York (Harrison, NY) and the companies affiliated with AAA Life (collectively referred to as the AAA Life Group). The outlook of these Credit Ratings (ratings) is stable.
This is a solid rating, and shows that the company is financially healthy. With this kind of rating, AM Best forecasts a stable future for AAA Life Insurance—something that should put policy seekers at ease.
AAA Life Insurance Products
The Company offers a wide range of life insurance products including annuities. For those deciding between term and whole life insurance, you should consider the reason you need the coverage. For replacing income or mortgage protection, term is typically the best choice. However, there are times when whole life insurance is better than term life.
AAA Term Life Insurance
The company offers two flavors of term insurance, exam and no exam. Further, AAA Life offers a Return of Premium rider. If the insured has not died, the rider allows the return of the entire premium amount upon completion of the term.
- Term life available for ages 18-75. Terms available include 10, 15, 20, 25, and 30 year.
- Disability Waiver of Premium and Child Term Rider are also available.
Sample AAA Life Insurance Rates
Sample AAA life insurance quotes based on a preferred plus male age 40 as of February 2016. AAA life insurance rates are subject to change and do not reflect what your rates or health classification will be.
|Face Amount||10 Year||15 Year||20 Year||25 Year||30 Year|
Comparison Sample Rates of Lowest Priced Competitor*
|Face Amount||10 Year||15 Year||20 Year||25 Year||30 Year|
*Sample quotes taken from AIG Life, Transamerica, Protective Life and ANICO Life. Sample comparison quotes are based on a preferred plus male age 40 as of February 2016. Sample life insurance rates are subject to change and do not reflect what your rates or health classification will be.
Notice that AAA Life Insurance rates are very competitive all around. In fact, AAA life insurance rates are often right there are the top of the pack for a 25 year term.
However, it is important to realize that a life insurance quote is just a quote until you are approved. That is why it is important to choose the right company, even if AAA life insurance quotes appear to be the best.
AAA Universal Life Insurance
Rather than end at a predetermined time, universal life insurance offers coverage for your entire life. AAA Life insurance offers two types of universal life insurance:
Lifetime Universal Life Insurance: this is for people who are looking to increase the size of their life insurance beneficiaries’ inheritance. The product is a good fit if you have a loved one who you want to be financially provided for after your passing, or you need to supplement the loss of your monthly income. If you simply want life insurance for estate planning, this is probably the best choice. However, for those who want some additional cash value, then AAA Life has another option.
Accumulator Universal Life Insurance: This policy offers more flexibility as it creates more cash value. Cash value can be used for business succession planning, such as funding buy-sell agreements with life insurance.
AAA Whole Life Insurance
AAA whole life insurance is geared to those who are considering final expense or burial insurance.
Simple Whole Life Insurance: Just answer a few health questions and you can have $5,000-$25,000 in coverage that has a fixed premium, builds cash value and lasts your whole life.
Guaranteed Issue Graded Benefit Whole Life Insurance: Available for ages 45-80, this guaranteed issue life insurance comes with a two year graded death benefit, meaning it will pay 100% of the death benefit in the first two years only if the death is accidental. Otherwise, the policy will return premiums and 10% if death occurs in the two year graded death benefit limitation period. Face amounts range from $5,000-$20,000. Double indemnity is offered for travel accidents. A lifetime AAA membership is included for the surviving spouse.
It is good to have options. TermLife2Go works with many of the best final expense and burial insurance companies.
Should I choose AAA Life Insurance?
AAA Life Insurance has a strong brand value. They are a company that has been around for quite some time, and they have over a million customers. Despite this large number of customers, they only have a handful of complaints with the Consumer Affairs. That’s a good sign.
However, the best way to know which life insurance company is best for you is by direct comparison. Although we think that AAA Life Insurance is a great life insurance company for some, there may a better life insurance company out there for you.
You Need Options
When you decide on a life insurance company, you are making a very serious decision, and we suggest you move ahead with the most information possible. The best way to move forward is to call AAA Life Insurance and ask them for a free quote.
However, in order to truly make an informed decision, you need information about other life insurance companies as well. Only then can you compare and see who is offering you better life insurance coverage for the best price.
We do not represent AAA Life Insurance, but we do represent dozens of other companies in the United States. We represent companies of all sizes and specialties.
We aren’t promising to find you a life insurance policy that’s better than what AAA Life Insurance is going to offer you—but don’t you want to explore your options to ensure you’re getting the best life insurance policy possible?
So, what are you waiting for? Give us a call today to see what we can do for you!
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