AAA Life Insurance Review [2023]
AAA life insurance is offered to both members and non-members. It offers term, whole and universal life products. The cost for each product begins at $15 for term, $75 for whole and $45 for universal, but rates will vary. The products are diverse and comprehensive based on the needs and qualifications of the consumer.
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Jeff Root
Licensed Life Insurance Agent
Jeff is a well-known speaker and expert in life insurance and financial planning. He has spoken at top insurance conferences around the U.S., including the InsuranceNewsNet Super Conference, the 8% Nation Insurance Wealth Conference, and the Digital Life Insurance Agent Mastermind. He has been featured and quoted in Nerdwallet, Bloomberg, Forbes, U.S. News & Money, USA Today, and other leading...
Licensed Life Insurance Agent
UPDATED: Jun 28, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Jun 28, 2023
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance providers please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- AAA offers both term and whole life insurance
- AAA life insurance for members and non-members
- Life insuance rates with AAA are competitive
When we hear AAA, it’s fair to say that most of us automatically think of roadside assistance, not life insurance. Anyone who has found themselves behind the wheel of a car has heard the phrase “call AAA” in the event of a flat tire, dead battery, or other unfortunate vehicle-related troubles. However, AAA has a lot more to offer than just automotive-related services. AAA also offers travel, insurance, and financial services. So, to answer the title question, yes, it offers AAA life insurance for members and non-members alike.
Below, we will discuss all you need to know about AAA’s life insurance products.
What life insurance products does AAA offer?
AAA offers a pretty comprehensive array of life insurance options. It offers term life insurance, whole life insurance, and universal life insurance with two options in each category.
Term Life Insurance Options
term life insurancepolicies offered are in term lengths of 10, 15, 20, or 30 years. AAA boasts two products for term life insurance; ExpressTerm Life or Traditional Term Life. The differences between the two are subtle but significant for those in the market for coverage.
AAA Term Life Insurance Products
| ExpressTerm Life | Traditional Term Life | |
| Coverage Term | Choose term length of 10, 15, 20 or 30 years. | Choose term length of 10, 15, 20 or 30 years. Coverage ends at 95 years old. |
| Eligibility Age | Any age between 20 and 75. | Any age between 18 and 75. |
| Medical Questions | Yes. These determine coverage eligibility. | Yes, this is mandatory to apply. |
| Health Screening | Some applicants will be required to complete a health screening based on medical questions. | Yes, this may be required during the screening process. |
| How Long Until Coverage Begins | As little as 10 minutes from application if eligible. | One to six weeks, with coverage while waiting if eligible. |
| Savings for AAA Members | Current AAA members save 10% on rates. | Members save 10% on their rates. |
| How to Apply | Online application. | With an agent. |
| Rate Increases | Rates stay the same until the end of the initial term chosen. Subsequent rates increase each year. | Rates stay the same until the end of the initial term chosen. Subsequent rates increase each year. |
| Benefit Access While Living | As much as 50% of benefits (up to $250,000) if diagnosed with a terminal illness with less than a year to live. | As much as 50% of benefits (up to $500,000) if diagnosed with a terminal illness with less than a year to live. |
| Available Riders | N/A | Child Term, Disability Waiver of Rate or Return of Rate. |
| Conversion to Permanent Life Policy | Yes, until the end of the initial policy term period or the policy anniversary after the insured’s 65th birthday, whichever is earlier. Minimum one year conversion Period. | Yes, until the end of the initial policy term period or the policy anniversary after the insured’s 65th birthday, whichever is earlier. Minimum one year conversion Period. |
| Cash Value | This policy does not build cash value. | This policy does not build cash value. |
Term life is typically the most affordable option.
Whole Life Insurance Options
In addition to term life insurance, AAA also offers whole life insurance options. The two products for whole life insurance coverage differ significantly. Although they are both intended to administer lifelong coverage, the benefits and application processes offer comprehensive options for a range of interested parties.
AAA Whole Life Insurance Products
| Whole Life Insurance | Guaranteed Issue Whole Life Insurance | |
| Eligibility Age | Any age between 18 and 85. | Acceptance is guaranteed between ages 45 and 85. |
| Medical Questions | For $30,000+ in coverage, health survey must be answered to apply. | No medical questions necessary. |
| Health Screening | For $30,000+ in coverage, a health screening may be required. | No physical exam necessary. |
| How Long Until Coverage Begins | One to six weeks, with coverage while waiting if eligible. | Coverage begins as soon as payment is processed. |
| Savings for AAA Members | Members will receive a 10% savings on the base rates. | The annual policy fee is waived for AAA members and their spouses. |
| How to Apply | With an Agent. | By mail or over the phone. |
| Rate Increases | Rates stay the same until age 100, at which time rate payments are no longer required. | Rates stay the same until age 100, at which time rate payments are no longer required. |
| Benefit Access While Living | As much as 50% of benefits if diagnosed with a terminal illness with less than a year to live. | N/A |
| Available Riders | Child Term, Disability Waiver of Rate, Travel Accident, and Accidental Death | This product features a Travel Accident Endorsement that doubles the death benefit, along with the Lifetime Membership benefit after the second year of coverage. |
| Cash Value | Yes, this policy does build cash value. | Yes, this policy builds cash value. |
Whole life offers lifelong coverage in return for higher premiums.
Universal Life Insurance Options
There are two universal life insurance options in AAA’s catalog. Whereas whole life insurance pays out benefits at the end of life to beneficiaries listed on the policies, universal life insurance is a more flexible option with cash accumulation and inheritance features.
The LifeTime Universal Life product offers rates that remain the same for the life of the policy, which is the duration of the policy holder’s life. It builds some cash value, but not as much as the Accumulator option. The policy will pay the cash value to the beneficiaries listed on the policy.
The Accumulator Universal Life product offers an adjustable-rate to allow for life’s ups and downs. This product also builds cash value and provides access to these funds as the policyholder needs. This benefit can be a crucial asset during retirement when funds are sometimes by circumstances beyond the policy holder’s control.
AAA Universal Life Insurance Products
| LifeTime Universal Life | Accumulator Universal Life | |
| Eligibility Age | Any age between 18 and 85. | Any age between 15 days and 80 years old. |
| Medical Questions | Yes, medical questions are mandatory to apply. | Yes, mandatory to apply. |
| Health Screening | A health screening may be required during the application process. | A health screening may be required during application process. |
| How Long Until Coverage Begins | One to six weeks, with coverage while waiting if eligible. | One to six weeks, with coverage while waiting if eligible. |
| Savings for AAA Members | N/A | N/A |
| How to Apply | Apply with Agent. | With an agent. |
| Rate Increases | Rates remain the same for the life of the policy. | Rates can be adjusted as needs change with this product. By paying the “no-lapse” amount, coverage is guaranteed for 10 years. |
| Benefit Access While Living | As much as 50% of benefits (up to $500,000) if diagnosed with a terminal illness with less than a year to live. | As much as 50% of benefits (up to $500,000) if diagnosed with a terminal illness with less than a year to live. |
| Available Riders | Child Term, Disability Waiver of Rate, Accidental Death, and Travel Accident. | Child Term, Waiver of Monthly Deductions, Accidental Death, Guaranteed Increase Option, Yearly Renewable Term Life, and Travel Accident. |
| Cash Value | Yes, this policy builds some cash value. | Yes, this policy builds cash value. |
Universal life isn’t for everyone, so consider your options carefully.
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What does AAA life insurance cost?
AAAs life insurance offers a wide array of options for every budget. The term life insurance policies start at around $15 per month, the whole life products begin at approximately $75.00 per month, and the universal life options start in the $45 range.
The rates for these products are calculated based on age, gender, policy type, and health. The amount also increases based on the addition of available riders. The rates offered by AAA are relatively competitive with other companies offering similar products.
Is AAA life insurance for members only?
Despite the automotive assistance services AAA offers being membership-based, all life insurance products are available to anyone interested in applying. However, membership may offer discounts on its insurance rates, along with deals on the other products and services AAA offers. Its plans are comprehensive and reasonably user-friendly.
AAA has qualified agents on hand to assist in the process of applying for their insurance products. This service is available regardless of membership status and is one of the many benefits associated with AAA. Having been in business well over one hundred years, AAA has the experience to help make your life insurance decisions easy and stress-free.
Hopefully, this article has offered some helpful insight into AAAs products to assist you in making your life insurance decisions.
Case Studies: Unveiling the AAA Life Insurance – A Comprehensive Review of Policies, Customer Experiences, and Industry Analysis.
Case Study 1: John’s Term Life Insurance Policy
John, a 35-year-old professional, purchased term life insurance from AAA Life Insurance. After his unexpected passing, AAA promptly processed his claim, providing his family with the full death benefit, easing their financial burden and receiving their gratitude.
Case Study 2: Sarah’s Whole Life Insurance Policy
Sarah, a 45-year-old business owner, chose a whole life insurance policy from AAA Life Insurance, aiming to grow cash value while securing a death benefit. During a financial setback, she accessed the accumulated cash value with flexible options provided by AAA, praising their support and commitment to policyholders’ long-term goals.
Case Study 3: Mark’s Retirement Planning with AAA Life Insurance
Mark, a 55-year-old nearing retirement, received expert guidance from AAA Life Insurance’s financial advisors who helped him select a suitable annuity. Their comprehensive advice, considering his lifestyle, expenses, and legacy goals, impressed Mark and provided him with a clear retirement roadmap, granting him peace of mind.
Case Study 4: Emily’s Long-Term Care Insurance
Emily, a 65-year-old retiree, secured comprehensive long-term care coverage from AAA Life Insurance to protect against healthcare expenses. When she needed home healthcare services, AAA efficiently processed her claims, providing timely reimbursement and relieving her financial burden, earning her appreciation for their responsiveness and support.
Frequently Asked Questions
What types of life insurance does AAA Life Insurance offer?
AAA Life Insurance offers a range of life insurance options to suit different needs. These include term life insurance, whole life insurance, universal life insurance, and indexed universal life insurance. Each type of policy has its unique features and benefits, allowing customers to choose the coverage that aligns with their specific goals and preferences.
Is AAA Life Insurance a trustworthy company?
Yes, AAA Life Insurance is a highly trustworthy company with a solid reputation in the insurance industry. With over 50 years of experience, AAA Life Insurance has built a strong track record of providing quality products and exceptional customer service. The company is known for its financial stability and commitment to serving the best interests of its policyholders.
Can I customize my life insurance policy with AAA Life Insurance?
Absolutely! AAA Life Insurance understands that everyone’s insurance needs are unique. That’s why they offer customizable options for their life insurance policies. Whether you want to adjust the coverage amount, add riders for additional protection, or tailor the policy to fit your specific requirements, AAA Life Insurance allows you to personalize your coverage to ensure it meets your individual needs.
Are the premiums affordable with AAA Life Insurance?
Yes, AAA Life Insurance strives to offer competitive and affordable premiums for their life insurance policies. The exact cost of premiums will depend on various factors such as your age, health condition, coverage amount, and the type of policy you choose.
What benefits does AAA Life Insurance provide?
AAA Life Insurance offers several benefits to its policyholders. These include financial security for loved ones in the event of the policyholder’s death, access to cash value accumulation in certain policy types, the option to borrow against the policy’s cash value, potential tax advantages, and the peace of mind that comes with knowing your family will be financially protected even in challenging times.
Can I apply for AAA Life Insurance online?
Yes, AAA Life Insurance provides a convenient online application process. By visiting their website, you can easily navigate through the application, provide the necessary information, and submit your request for life insurance coverage. The online platform also allows you to explore different policy options, get quotes, and access useful resources to make informed decisions about your insurance needs.
Compare Insurance Providers Rates to Save Up to 75%
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Jeff Root
Licensed Life Insurance Agent
Jeff is a well-known speaker and expert in life insurance and financial planning. He has spoken at top insurance conferences around the U.S., including the InsuranceNewsNet Super Conference, the 8% Nation Insurance Wealth Conference, and the Digital Life Insurance Agent Mastermind. He has been featured and quoted in Nerdwallet, Bloomberg, Forbes, U.S. News & Money, USA Today, and other leading...
Licensed Life Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.