What's New for AAA Life Insurance Company?
AAA Life Insurance Company has been offering life insurance and annuity products since 1
Let's discuss some updates on AAA Life Insurance Company and what changes may have been made.
How has Covid-19 affected AAA Life Insurance Company?
Following the outbreak of the Covid-19 pandemic, the company issued a reassuring  response to their website and social media platforms, as well as a FAQ page answering frequently asked questions customers may have about their coverage.
For the most part, current customers who have life insurance plans with AAA Life Insurance Company will have coverage for any deaths due to Covid-19. However, this does not apply to those with accident plans. Application processes can take longer than usual due to mandatory health checks.
The insurance company has also stated that those who have tested positive for Covid-19 during the last four weeks will not be eligible for coverage. You can apply when the four weeks have passed.
New products or changes
At present, no changes have been made to AAA Life Insurance Company's available plans and products. They still offer the following products:
AAA Life Insurance Company in the News
According to AAA Life Insurance Company & # 39 ;s LinkedIn at the end of 2020 exceeded the $ 1 billion in
In addition, AAA Life for the third year in a row awarded Aon "Ward & # 39; s 50" recognition for outstanding results in safety, consistency and performance over a five-year period. .
2021 Latest AAA Life Insurance Company Reviews
As for reviews for AAA Life Insurance Companies, they have AM Best rating A (Excellent) as of August 2020.
Nerdwallet also gave them 3 , 5 stars out of 5. They said: "You do not have to be a member to buy life insurance from AAA (but members get a discount on some insurance policies)," and "Some term and lifetime policies are available without a medical examination."
The balance gave them 3.2 stars out of 5, saying, "AAA Life Insurance is a great option for AAA members. The company offers several types of life insurance, including high dollar coverage for life and universal life. If you are AAA- member or looking for life insurance coverage from a company with a high customer service rating – which you can cancel at any time if you are not satisfied – you should consider AAA Life. "
Investopedia gave them 3.4 stars out of 5." To unlike many a company that requires medical examinations for all coverage options, AAA Life allows some applicants to purchase up to $ 500,000 in life insurance online without undergoing a medical examination so that you can get coverage immediately. And it has guaranteed issues that you can lock in, regardless of your health history.
While the American Automobile Association was founded in 1902, its life insurance products are a starting point for its car insurance and other membership programs. was introduced in 1969.
Its term, complete and universal life insurance program, which represents a significant part of the AAA organization, currently has one million policyholders in the United States
So while AAA is best known for its travel services and roadside assistance, its life insurance products is a strong competitor in a competitive field.
AAA Life Insurance
AAA Life Insurance is offered nationally through its local branches and is taken out by AAA Life Insurance Company headquartered in Livonia, Michigan.
You do not have to be an AAA member to purchase their life insurance.
AAA Life Insurance Company Highlights
- Underwriter : AAA Life Insurance Company
- Market Share : 0.32% *
- Premiums Written : $ 407,614,304 *
- Website : https://www.aaalife.com/
- Business Telephone : (800) 684-4222
- Address for Head Office : 17900 N Laurel Park Dr, Livonia MI 48152
The American Automobile Association is a strong advocate for customer satisfaction; As evidence, it maintains a below-average complaint volume at the Better Business Bureau and carefully handles each complaint in accordance with BBB guidelines.
In addition, it has A + ratings from BBB .
AAA has received mostly favorable comments on independent consumer review websites and has only received six complaints from the National Association of Insurance Commissioners in 2019.
AAA Life Insurance Financial Strength
In general, knowledge of the financial strength of an insurance company helps as AAA assure you that the company will be able to meet its financial obligations, such as paying receivables. Here is a quick summary of AAA & # 39 ;s financial facts and figures:
- Standard & Poor & # 39 ;s Financial Rating : n / a
- Moody & # 39 ;s Financial Rating : n / a
- AM Best Financial Rating : A- (Excellent)
Note: There are several independent organizations, such as AM Best, that evaluate insurance companies for financial strength. Everyone has their own standards and ways of classifying companies, so an A + from one company may not be the same for another.
In addition to the figures above, AAA 7.0 is quoted on a scale of 10 for company stability, 9.0 / 10 for reputation and 9.0 / 10 for its policies and coverage.
So you can feel pretty confident that AAA Life Insurance is a reliable, financially stable company to manage, both now and in the future when you may need them to settle an insurance claim.
AAA Life Insurance Courses and Application Process
AAA Life Insurance provides a number of options for obtaining a quote. Its website has a toll free phone number as well as a zip code to help you find a local agent near you, if you prefer a face-to-face conversation.
In addition, there is a page on the site that allows you to create a AAA life insurance login and then start the concept of life citation process online by answering some questions (height, weight, date of birth, nicotine use, gender, zip code and email).
The secure, automated online quote takes as little as ten minutes, according to AAA.
The company provides a lot of useful advice on its website, such as articles on "Life Insurance 101", the differences between different life insurance products, lifestyle choices, discouraged insurance myths, selecting beneficiaries and filing claims, as well as videos and infographics.
There is also a simple online calculator through which you can enter your date of birth and salary to begin the quotation process.
You may also want to know that there are a few important lifestyle factors that can affect the cost of your coverage. According to AAA, these would include age, gender, marital status and medical background.
In general, the younger and healthier you are, the lower your premiums will be. Other factors that are taken into account are smoking, dangerous hobbies such as rock climbing or skydiving or a driving history that includes the latest DUI.
AAA Life Insurance Policy
The coverage options that AAA offers Life Insurance include an excellent range of lifelong, complete and universal life insurance as well as accident insurance and annuities.
There are also several choices within each product category and a range of insurance types from "fast" to "comprehensive" depending on your needs, in addition, the usual requirement for a medical examination before coverage can be handled with a home visit.
Term Life Insurance  AAA offers two different term life insurance products, ExpressTerm and Traditional Term Life, the first of which allows you to apply online in less than ten minutes, the second requiring a personal consultation with an AAA insurance agent, who can advise you on the various insurance features.  Both of these products are available for 10, 15, 20, 25 or 30 years, but the traditional lifespans provide greater coverage, from $ 100,000 to over $ 5,000,000.
Full Life Insurance
Simple Full Lifetime and Guaranteed edition Whole Life are the two options in this category.
For Simple Whole Life, you need to apply through an agent; benefits range from $ 5,000 to $ 25,000; never when locked; there is no requirement for a medical examination, and the application covers only a few simple questions.
A Guaranteed Question The whole life policy can be arranged by phone, online or by post, and you do not have to qualify based on health. Benefits, price lock and no degree features are the same as with Simple Whole Life.
Universal Life Insurance
There are two products in this category, LifeTime and Accumulator Universal Life. Similarities include the requirement to apply through an agent, benefits from $ 25,000 and the ability to accumulate cash value.
Accumulator policies offer a higher amount that can be accumulated for cash value, adjustable premiums and flexible coverage that can be adjusted as your needs change. LifeTime, on the other hand, offers guaranteed premiums that do not change even if interest rates go up or down.
This can be purchased from AAA by phone or post. The benefits increase with the number of years you maintain the policy, and there are cash benefits for emergency rooms, hospital stays, recovery or loss of life. guaranteed acceptance if you are a AAA member.
AAA annuities give you a way to save money for a steady stream of retirement income that can last a lifetime. The three plans include EliteGuarantee deferred annuity, Platinum bonus interest and guaranteed income interest.
The first two are tax deferred plans, offer guaranteed interest rates and can start with as little as $ 3000. The third requires a single premium contribution and you decide when you want to start receiving payments. For all these three products, you need to meet an AAA agent.
AAA Life Insurance Riders
If you think a life insurance policy you are considering buying is sufficient, but you want to customize it further by including some additional features, you want to talk to your rider agent.
These are special provisions that provide increased benefits at an additional cost. Here are, for example, some of the skiers that AAA offers. The specific options described below may not be available with or applicable to all insurance policies.
Child Term Insurance Driver
This adds $ 5,000 to $ 20,000 coverage for each eligible child (depending on the specific insurance product).
Disability Waiver of Monthly Deductions
If you were to become disabled, this rider would pay monthly deductions for your life insurance.
Disabled Premium Fees
This provision would allow you to stop paying premiums (without losing your insurance) should you become disabled.
If you die in an accident covered by the policy, this provides an additional payment of up to $ 150,000 to your beneficiary.
Guaranteed purchase option
If you need it, it gives you the opportunity to increase your coverage at some point in the future without having to prove your insurance ability.
Should you die from a covered accidental death (such as an accident at work or a traffic fatality), this would result in an additional payment of up to $ 25,000 to your beneficiary.
If you die or are seriously injured in a covered accident while driving or riding as a passenger, this provides an additional benefit to your beneficiary.
AAA Life Insurance Discounts
Although you do not have to be a member to purchase AAA Life Insurance products, AAA members receive a discount on certain
AAA member discounts
AAA members can receive an annual discount of $ 60 or more on life insurance products such as ExpressTerm or guaranteed edition full life insurance.
Bundled Policies Discount
If you were to buy another from AAA, such as home insurance, you would be entitled to a multi-policy discount that gives you up to a 25% discount on home insurance if you bundle it with life insurance and car insurance, for example.
* While we are To keep our site up to date, be aware that "current" information on this site, such as quotation estimates, or relevant business information, may only be accurate from the last day of editing. Huntley Wealth & Insurance Services and its representatives do not provide legal or tax advice. Contact your own legal or tax advisor.