Aaa Life Insurance: What You Need To Know

AAA, also known as Triple A, offers a range of life insurance options, including term, whole, and universal life insurance policies. The company provides various benefits, such as no-exam policies, member discounts, and flexible coverage amounts. While AAA life insurance may be a convenient choice for existing AAA members, it's important to consider the pros and cons before making a decision. This includes evaluating factors such as customer service reviews, the application process, and cost comparisons with other insurance providers.

AAA Life Insurance Company offers a range of life insurance policies

One of the key advantages of AAA life insurance is the variety of policy choices available. They offer both term and permanent policies, including Traditional Term Life and ExpressTerm Life insurance. The Traditional Term Life policy provides coverage ranging from $50,000 to $5 million or more, while the ExpressTerm Life policy offers faster approval and coverage from $25,000 to $500,000. For those seeking permanent coverage, AAA provides Whole Life Insurance and Universal Life Insurance options. Their Whole Life Insurance has coverage ranging from $5,000 to $75,000, while their Universal Life Insurance offers two policy choices: Lifetime Universal Life and Accumulator Universal Life, with coverage starting at $100,000.

AAA also offers no-medical-exam coverage options for individuals who may have pre-existing conditions or prefer a quicker application process. Their Guaranteed Issue Whole Life Insurance is available for individuals aged 45 to 85, providing coverage of up to $25,000 without any health questions or exams. Similarly, their ExpressTerm Life policy may not require a medical exam, making it an attractive choice for those seeking faster coverage.

In addition to their standard life insurance policies, AAA provides several riders, or add-ons, to enhance coverage. These include the accelerated death benefit rider, accidental death rider, child term rider, disability waiver of premium rider, return of premium rider, travel accident rider, and guaranteed purchase option rider. These riders provide additional protection in specific scenarios, such as terminal illness or travel-related accidents, giving policyholders greater peace of mind.

While AAA life insurance may have higher rates compared to some competitors, they offer bundle and membership discounts on select policies. AAA members can access special discounts on their life insurance premiums, such as a 10% discount on annual term life insurance policies.

With a range of policy options, no-medical-exam choices, and customizable riders, AAA Life Insurance Company strives to cater to a diverse range of customer needs. Their policies provide financial protection and flexibility, ensuring that individuals and their loved ones can find a plan that suits their unique circumstances.

AAA members can get discounts on certain policies

AAA members can also qualify for a discount on other AAA insurance products. For example, members who purchase one of the company's universal life policies may be eligible for additional discounts on a AAA home or auto insurance policy.

AAA also offers accidental death insurance policies, such as its Classic Car Accident Insurance Plan and Member Loyalty Accident Insurance. These policies are quite similar in coverage. They provide a daily benefit to help cover hospitalization, emergency room visits, and recuperation if you're injured in an accident. For instance, if you're hospitalized for five days after falling off a ledge, you would get a payment up to a certain limit for each day spent there, up to 365 days per accident. AAA accident insurance policies also offer a death benefit if you die due to an accident. Accident insurance coverage is guaranteed for AAA members aged 18 and older, and the amount of coverage you qualify for depends on your years of membership.

AAA members can also get a discount on their life insurance premium or another AAA insurance policy.

AAA offers no-medical-exam coverage for quick approval

The ExpressTerm policy is a good option for those seeking fast coverage without the hassle of a medical exam. It is ideal for those who want a quick and easy application process, with the convenience of applying online. The policy provides peace of mind for individuals and families, ensuring financial protection in the event of an accident or illness.

In addition to ExpressTerm, AAA also offers a traditional term life insurance policy that provides higher coverage amounts of up to $5 million. However, this traditional policy requires a medical exam and can take up to six weeks for approval. It is obtained through an agent and offers lower rates per dollar of coverage.

For those seeking permanent life insurance, AAA offers whole life and universal life insurance policies. The whole life insurance policy provides up to $25,000 in coverage and does not require a medical exam. It is suitable for individuals who want permanent coverage with guaranteed premiums and cash value accumulation. The universal life insurance policy provides coverage starting at $100,000 and offers level premiums and flexible death benefits, combining lifelong protection with potential cash value growth.

Overall, AAA's no-medical-exam coverage options provide a convenient and fast way to obtain life insurance, ensuring peace of mind and financial protection for individuals and their families. The company's range of policies cater to different needs, offering both term and permanent coverage, with the added benefit of quick approval for those who do not wish to undergo a medical exam.

AAA's customer service and claims process have received negative reviews

AAA's customer service and claims process have received numerous negative reviews from customers. Many customers have complained about the long wait times for roadside assistance, with some reporting that they were left stranded for several hours, even in unsafe or dangerous situations. There are also complaints about the poor communication and lack of updates from AAA, with customers having to call multiple times to get information about their service requests.

In addition, some customers have expressed frustration with the difficulty of reaching a live person for assistance, as well as the incompetence and unhelpfulness of the representatives they eventually get to speak to. There are also reports of AAA representatives being rude and raising their voices during customer interactions.

Furthermore, customers have reported issues with the quality of service provided by AAA contractors, including instances of no-shows, incorrect information, and unsatisfactory work. Some customers have also experienced challenges with AAA's billing and cancellation processes, including unexpected charges and difficulties cancelling their memberships.

Overall, the negative reviews highlight concerns about the reliability, responsiveness, and quality of AAA's customer service and claims process, which have left many customers feeling disappointed, frustrated, and stranded. These issues have led to a loss of trust in AAA's services and have prompted some customers to seek alternative options for roadside assistance and insurance.

AAA's term life insurance premiums are more expensive than competitors

AAA offers term, whole, and universal life insurance. While it wins a spot on Investopedia's list of top term life insurance companies, AAA's term life insurance premiums are among the most expensive in the website's study.

AAA's ExpressTerm Life and Traditional Term Life policies are available in term lengths of 10, 15, 20, or 30 years, with coverage limits between $25,000 and $500,000 for the former, and $50,000 to $5 million or more for the latter. The ExpressTerm Life policy is also available online, with eligible applicants able to skip a medical exam and get coverage in as little as 10 minutes. Current AAA members can get a 10% discount on their premiums for both policies.

However, despite the discounts, AAA's term life insurance premiums are still more expensive than those of its competitors. For example, a healthy, non-smoking 30-year-old man could get a 30-year term life insurance policy with a $250,000 death benefit for an average of $18 per month from other insurers, compared to AAA's average of $50 per month for a $500,000 death benefit. Similarly, for a $250,000 death benefit, AAA's average monthly premium for a 65-year-old woman is higher than all but two companies in the Investopedia study, while for 65-year-old men, seven companies offer cheaper rates.

AAA's term life insurance is also more expensive than competitors for older adults, with higher premiums for a 15-year term policy for a 65-year-old woman than all but two other companies in the study, and for a 65-year-old man, AAA's rates are higher than all but seven companies.

Overall, while AAA's term life insurance offers good coverage and convenience, its premiums are more expensive than those of its competitors, even with the available discounts.

Frequently asked questions