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Life insurance is a relatively new offering from AAA. Although the company began by offering automobile insurance in 1969, it quickly expanded to life, home, travel insurance and annuities.
With AAA, customers can choose from
|#1 Quotacy ›|| |
|#2 Northwestern Mutual ›|| |
|#3 USAA ›|| |
|AAA Life Insurance ›|| |
Notable policies that AAA offers are term life insurance policy offers options that include a return of the premiums paid over the life of the policy if you outlive the term. Their Guaranteed Whole Life policy does not require a medical exam, although has lower levels of coverage than others (maximum of $20,000). Both of their Universal Life options include competitive interest rates on the cash value that is accrued over the life of the policy.
AAA's policy offerings include:
AAA works with communities and supports the following associations as part of their health and life insurance programs.
Other, optional benefits include Children's Term policies (funds paid out to children when the policy holder passes away), Accidental Death policies and flexible premiums.
Additionally, cash value that is accrued can be access if the policy holder is diagnosed as terminally ill at any point.
AAA allows payment flexibility including graded premiums and waiving premiums if the policy holder becomes disabled.
AAA is one of the few life insurance providers to cover Acts of War and will pay up to 50% if the policy holder is diagnosed as terminally ill or passes away within the first year of the policy.
Policies with AAA also include free membership for family members and often travel insurance as well. Automated and online payment options are available as well.
AAA does increase their rates based on the policy holder's age in 5 year increments (55 years, 60, 65, etc). Often times people do not anticipate it when signing up for a policy at the age of 54, and are hit with an unexpected increase in the first year.
While AAA members can enjoy a discount on AAA life insurance, it isn't enough to select their insurance plans. A 30-year old, non-AAA member woman in excellent health will pay around $36.30/month for a 30-year, $250k policy from AAA. The same woman with a AAA membership will pay $22.44/month. These are some of the highest monthly rates in the industry for a term life policy.
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its not life insurance with this company its a savings account for example lets say you and your wife been paying this policy for 5 years and your payments are like 100.00 a month for 300,000 policy. so one of you die you don't get 300.000 you only get what you put into the policy 5yrs +100.00 month =6000 yes you are better off looking for savings account that can earn you interest
Father passed 8-9 months ago and the Funeral Home contacted me about not receiving any money from AAA Life Insurance. I had to get a loan from my bank to pay off Dad's funeral expenses. Then today they sent me a check (only received what was paid into the policy despite what it says in their contract). I wouldn't refer AAA Life Insurance to my cactus, if I had one!!! Terrible company! I suggest getting Life Insurance at your bank or at some other accredited agency!!
July 2016: AAA Life Insurance Company has been unresponsive and continued auto-deduct on a checking account after being notified with all documentation that the policy holder had passed away in April, 2016. I was forced to put a block on the auto-deduct of premiums. I sent a letter May 12, 2016 with all documentation showing Helen (policy holder) was deceased but have continued to have monthly premiums deducted from her checking account for April, May, June and now July, 2016. I sent follow-up letters to AAA June 23 and July 18, 2016. Very difficult company to deal with.