Whole life insurance provides unwavering, permanent coverage that grows in value over time, providing added financial security for you and those you care about.
Whole life insurance is similar to universal life insurance in that it provides permanent life insurance protection. In addition, whole life insurance provides guaranteed premiums, death benefits, and cash value.
Why buy whole life insurance through AAA?
AAA Life offers affordable whole life insurance backed by 50 years of experience helping to protect people’s futures. Whole Life Insurance coverage is available from $30,000 to $75,000 and is issued from age 18-85.
By purchasing your policy through AAA, you’ll enjoy benefits such as:
- Reliable whole life insurance policies with locked-in premiums. Your premium never goes up, and your benefits never go down.
- Easy claims process for your loved ones.
- Excellent customer service from knowledgeable life insurance agents.
- AAA Members receive a 10% discount on premiums.
- AAA Members save up to 5% on their AAA Auto Insurance policy.
Frequently asked questions about whole life insurance
Whole life insurance is permanent life insurance, meaning it offers lifelong coverage and doesn’t expire (as term life insurance does).
This type of policy offers:
- a death benefit (the payment that’s made to your beneficiaries when you die)
- guaranteed cash value accumulation that increases over time.
How does whole life insurance work?
When you buy a whole life insurance policy, you choose the death benefit amount, as well as the beneficiary (the person you’d like to receive that future payout). Every time you pay your premium, a portion of the money goes toward your policy’s cash value. You can also borrow funds from the cash value to cover your mortgage or other bills. Talk to your life insurance professional to learn more.
Who should buy whole life insurance?
Whole life Insurance is a good option if you:
- want to make sure there are funds to help pay funeral and other final expenses
- are looking for protection to help pay off a mortgage or other personal debt
- want to include a fixed permanent plan as part of your overall insurance plan
- want to decrease worry or concern about outliving your life insurance.
How are whole life insurance benefits paid?
Most people choose a lump sum payment, where the beneficiary receives a single payment after the insured has passed away and a claim is filed. Other options may be available—speak to your life insurance agent to learn more.