Life insurance is one of the most significant financial choices that you’ll ever make for you and your family. It’s essential that you make the best decision when it comes to protecting your family. With so many options, choosing the right life insurance company can be a long and tedious process. You may have heard that AAA Life Insurance Company is among the best life insurance companies in the U.S. this year. But what does that claim mean to the everyday consumer?
AAA Life Insurance Is Strong
AAA is also a highly rated company, with an A- A.M. Best Rating and over 1,000,000 life insurance policies in force. Even with that ranking, are they the right choice for you when it comes to term life policies?
Working with so many different life insurance companies, we know that what works for some might not work for others. AAA might be an excellent choice for one person, but it may not be the best for you. You can begin comparing rates at any time using the online quote form at the top of this page. Or keep reading for more information about AAA and their term life insurance policies.
What Does AAA Term Life Insurance Cover?
Term life policies provide you with life insurance coverage for a set period, with premiums not increasing until the coverage period is over. With AAA, you can obtain a ten-year term life insurance policy, up to a 30-year term policy with coverage amounts between $100,000 and over $10,000,000 in coverage. It’s important to note that AAA does increase their rates based on the policy holder’s age in 5-year increments (55 years, 60, 65, etc.). Often 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.
The good thing about AAA term life insurance is the convertibility to permanent life insurance. The downside is you must do this before 80 percent of your term is up, or you turn age 65. Your rates will also increase and they will continue to rise every year. By converting the policy you benefit by obtaining permanent life insurance. In addition you maybe able to get up to 50 percent of your coverage amount before you die. This is called a terminal illness rider, and is included in the policy free of charge. However you must be diagnosed with a life expectancy of fewer than 12 months.
Term Life Insurance Is Cheap
For most people, term life insurance is one of the best ways to get affordable life insurance coverage. Because these plans are only useful for a particular time frame, unlike whole life insurance, you will get lower monthly rates. For anyone that is looking to get life insurance at the most affordable rate, term policies are usually the best option.
Insurance rates differ from person to person. Many factors like age, gender, health conditions, and tobacco use contribute to the rate. It also depends on if you choose a policy that requires a medical exam or does not require a medical exam. Making it near impossible to predict the precise rates AAA will offer you for a term life insurance policy.
AAA Life Insurance Company Is Well Known
However, that doesn’t make them the best choice for your term life insurance. AAA does not always provide the lowest rates for term life policies. It is always wise to compare rates and coverage options between companies before you make any decisions. You should do your homework on how the company handles customer service and their claims process. Reading reviews on the company many clients have had issues with their agents not notifying them of a declination of coverage or even worse not receiving payouts in a timely matter. You can read more AAA Life Insurance company reviews on consumeraffairs.com.
Life insurance is one of the most significant investments that you’ll ever make for your loved ones. Don’t’ wait too long to get the security that they deserve. Life is very uncertain, and we ever know what tomorrow will bring. Don’t procrastinate when it comes to applying for a life insurance plan. Not having proper life insurance is one of the worst mistakes that you can make for your family. In the event of your sudden passing, your family could have thousands and thousands of dollars of debt to handle. Don’t make an emotionally stressful situation even worse by leaving you family with a huge financial burden.
To find out about other lower priced options available to you, please click on our “View Your Quotes” button in addition you can speak with a licensed agent by calling 866-936-3831. Gary W Blackmon is helping customers from California to New York find cheap life insurance.