Life Insurance FAQ

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What is life insurance? +

Life insurance is an agreement between you and your insurance company that says if you pay a monthly or yearly premium, the insurance company promises to provide financial support to your beneficiaries after you are gone.

Why should I have life insurance? +

Life insurance is a great way to help protect those who matter most to you. Should you pass away unexpectedly, your family may not be able to pay for things like funeral costs, medical bills, mortgage payments or existing debts. With life insurance, you can help ease financial burdens for those you love.

What is term life insurance? +

Term coverage is a great way to cover big expenses like a mortgage or college tuition. This coverage is designed to last a specific period of time, or "term” — usually the years when you need coverage most. Learn more about term life insurance.

What is whole life insurance? +

Whole life is designed to last a lifetime with premiums that never change. Your policy can also accumulate cash value that you can borrow against. Learn more about whole life insurance.

What is universal life insurance? +

Universal life insurance is highly customizable and 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. Learn more about universal life insurance.

What is an annuity? +

Annuities are financial products designed to provide a stream of income for a specified period, typically for the duration of a person’s life. You can either contribute a lump sum or pay into it over time. In return, you get a steady stream of income immediately or in the future, usually when you retire. Learn more about annuities.

How much life insurance is right for me? +

Deciding how much life insurance coverage you need starts with one simple question: What would life be like financially for those you care about if you were to pass away?

While it may be difficult to think about the answer to this question, it’s important to make a list of all your needs and bills — the ones you have today and the ones you will have down the road. With too little coverage, your family might not receive all the financial protection you would like them to have.

How does life insurance work? +

After purchasing a policy that covers you and your family’s needs, you will make a premium payment throughout your life or for a term length. If you pass away, your beneficiary will file a claim with your insurance company. Once all the information is verified, your policy’s death benefit will be paid out to the beneficiary.

What next? +

Fill out our contact form to speak to an experienced AAA insurance agent who can help you find the right coverage.

^{AAA Life and its agents do not provide legal, financial, or tax advice. Therefore, you may wish to consult independent professional advice prior to the purchase of coverage.}

^{Life insurance from AAA affiliated or non-affiliated insurers may be offered by AAA Northeast Insurance Agency, Inc., 110 Royal Little Drive, Providence RI, 02904.}

^{Life insurance underwritten and annuities offered by AAA Life Insurance Company, Livonia, Michigan. AAA Life Insurance Company is licensed in all states except NY. CA Certificate of Authority #07861. Products and their features may not be available in all states.

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