Life Insurance 101
Learn the ins-and-outs of life insurance and how it works.
New to life insurance and finding it a little confusing? You’re not alone. Life insurance can seem complicated, with numerous choices and factors to consider. As your partner throughout the process, AAA Life is here to help make it easier.
Term life insurance can be a great way to help cover specific expenses—like a mortgage or college tuition—or provide “just-in-case” protection for those you care about. Premiums are level for a set period of time.
Whole life insurance can give you lifelong coverage with set benefits and premiums that never change. Your policy can also accumulate cash value that you can borrow against.
Universal life insurance can provide a lifetime of coverage with flexible premiums and benefits to help meet your specific needs. Your policy can build cash value to help pay for expenses during retirement and more.
Depending on your needs, one type may make more sense for you than the others. To learn more about what to consider before you buy, visit our Getting Started page.
Many life insurance policyholders designate death benefits to cover end-of-life costs, but life insurance coverage can be used in a number of other ways as well. Your benefits can help your family cover their cost of living, pay outstanding debts, provide charitable gifts, and more.
Life insurance is a great way to help protect those you care about.
Should you die unexpectedly, chances are your family may not be able to cover items such as funeral costs, medical bills, mortgage payments, funding retirement plans, etc. With life insurance, you can help ease financial burdens while they are going through a very difficult and emotional time.
Life insurance is a powerful, versatile tool for protecting not only your family, but also your legacy. It doesn’t have to be limited to paying off final expenses. Life insurance can also be used to help:
• Provide ongoing income for your family
• Make a gift to your favorite charity
• Leave an inheritance
• Protect the future of a small business, and more!
Ask your AAA Life Insurance agent for more information about how our products can meet your unique needs. Call (800) 684-4222.
Deciding how much life insurance you need begins with one basic question: What would life be like financially for those you care about if you were no longer there?
While it may be difficult to think about the answer to this question, it’s important to take stock of your needs today. With too little coverage, your family might not receive all the financial protection you would like them to have.
To learn more about what you should consider when buying life insurance and to get an estimate based on your personal needs, try our Needs Calculator.