When looking for a life insurance policy, there are several things to remember. Some things to look for include: Age range, Add-on riders, Financial strength rating, and Customer service. These factors can make or break your decision. If you’re unsure what you want, you can start by reviewing the rates offered by several companies.
Add-on riders
Aaa Life Insurance add-on riders can be purchased to enhance your existing policy coverage. Like a car or home insurance endorsements, life insurance add-on riders can give you extra coverage for specific circumstances. For instance, a critical illness rider can cover unexpected medical costs while you’re still alive. Another rider offers money to your beneficiary if you die in an accident.
AAA Life offers add-on riders to their whole life policies. These include coverage for eligible children up to age 12, automatic premium payments, and a $25,000 benefit for accidental death or severe injury. Another great feature of an AAA life policy is its guaranteed-issue option. This is a way to get an instant acceptance, but you can’t expect to receive the full death benefit for the first two years. In these cases, the death benefit would be paid in graded payments based on the manner of death.
Financial strength rating
When shopping for life insurance, it is essential to check the financial strength rating of an insurer. This is an independent rating agency’s assessment of a company’s financial stability. It is used by financial advisers and wealth managers to make decisions about insurers. Financial strength ratings can be found on an insurer’s website. The financial strength rating of a life insurance company is a good indication of how likely an insurer is to pay benefits if a claim is made.
Financial strength ratings are based on several factors, including the insurer’s financial strength. A high financial strength rating means that the company is likely to pay out claims and remains solvent, regardless of what happens. A low rating means that the insurer is unlikely to meet its obligations. A company with an A+ financial strength rating has high financial stability and good standing with creditors.
Another factor to consider when choosing an insurer is customer service. AAA life insurance company has a high customer satisfaction rating, with an A (Excellent) score. It also has a solid financial strength rating and received an A from A.M. Best for its financial strength in August 2020.
Customer service
AAA Life Insurance has an overall rating of A+, making it a highly reputable insurance company. However, it has received low customer satisfaction ratings on Trustpilot and ConsumerAffairs. The customer service team is rated as average. The company’s website includes valuable resources, such as downloadable PDF brochures that clearly state the issue of age and riders. It also has an FAQ section.