AAA Life Insurance Review: Lots To Like, But One Glaring Negative

The 60-Second Summary

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2.5/5
GetSure Rating
AAA Life sells all of the major life insurance products (with no-medical-exam options), has appealing riders (return of premium), and will cover you until 95 years old. However, the few available customer reviews are highly negative, suggesting the post-purchase experience may be less positive than the “courtship”.
The Pros
The Cons

3rd-Party AAA Life Insurance Reviews

Full Review Below.

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    What Is AAA Life?

    Headquartered in Livonia, Michigan, AAA Life Insurance Company is a subsidiary of the well-known AAA (or “Triple A”) organization.

    It is licensed to sell life insurance and annuities in all states except New York, and currently has a large base of 1.3 million policyholders.

    AAA Life has an A+ rating from the Better Business Bureau (BBB) and a financial strength rating of A (Excellent) from A.M. Best.

    Company 101
    TypeLife Insurance Carrier
    Websitehttps://www.aaalife.com
    Emailmembersvc@aaalife.com
    Phone(888) 422-7020
    Address17900 N. Laurel Park Dr.
    Livonia, MI 48152
    BBB RatingA+
    A.M. Best RatingA

    Common Questions About AAA Life

    Before we dive in further, let’s take look at the most Googled questions about AAA Life:

    Is AAA Life Reputable?

    It’s difficult to determine how reputable AAA Life is. The Company has no TrustPilot page (or similar). And second, while the Company has an A+ rating from the Better Business Bureau, all six customer reviews on the BBB website give the Company 1 star (out of 5).

    Is AAA Life Insurance Good?

    It’s a mixed bag. AAA Life is good in terms of product variety (term, whole, accident, guaranteed issue) and features (e.g., no medical exam term option, return of premium rider). However, AAA Life is not accredited by the Better Business Bureau, and all six BBB customer reviews are negative.

    Can I Add More Than One Beneficiary To My policy?

    Yes, you can add as many beneficiaries as you want, at any point during your policy’s term. The only condition is that the beneficiary percentages must total to 100% for primary beneficiaries and for contingent beneficiaries.

    Can I Cancel My AAA Life Insurance Policy?

    Yes, you can cancel your policy at any time. However, as with other policy modifications (e.g., name changes, beneficiary additions, etc.), you can only do this by written request.

    What Types Of Life Insurances Does AAA Offer?

    AAA Life offers four types of life insurance coverage:

    1. Term life insurance
    2. Whole life insurance (including a guaranteed issue whole life product)
    3. Universal life insurance
    4. Accident insurance

    Within each of these broad types, the Company offers multiple product options to cater to different customer preferences (high face amounts, no exams, and instant coverage, among others).   

    Product Overview
    TermYes
    PermanentYes
    Guaranteed IssueYes
    Online ProcessYes, quote (for term products) and application (for ExpressTerm only)
    Medical ExamDepends on product and applicant

    As Dave Ramsey says, “cash-value life insurance is the payday lender of the middle class,” pointing out how uneconomical this product is.  

    We at GetSure agree wholeheartedly.  So, per our Editorial Guidelines, we’ll only discuss AAA’s term life and guaranteed issue products in detail.

    How Does AAA Term Life Insurance Work?

    Term life insurance is the most straightforward form of life insurance.

    Policyholders are covered for a set period of time.  If you die during the term, the insurance company makes a death benefit payout to your beneficiary.  If you live longer than the term of the policy, your coverage expires.  (If you’re wondering about the cost of a $1 million term policy, make sure to check out our linked guide.) 

    AAA Life offers two term life products, “ExpressTerm” and “Traditional Term.”

    1. ExpressTerm Life

    Fully online application, which takes as little as 10 minutes.

    2. Traditional Term Life

    Fully under-written policy likely means lower rates.

    Eligibility Criteria

    To be eligible for either term life product, you must satisfy two eligibility criteria:

    • Age:  18-75 years old
    • Residence:  Any U.S. state, except for New York

    While some insurers do not accept convicted felons as applicants, AAA Life has no such restriction.

    You do not even have to be a member of “Triple A” (the auto-related organization) to purchase AAA life insurance!

    AAA ExpressTerm Life Insurance

    The Company’s first term life insurance product is called ExpressTerm, and like recent start-ups Haven Life and Ladder, the entire purchase process, from quote to application to policy issuance is 100% online.

    (So you can complete the process without having to speak to an agent).

    Coverage amounts range from $25K to $500K and term lengths come in 10, 15, 20, and 30-year options.

    Since it’s possible to bypass the medical exam, those who qualify can finish the entire process in 10-15 minutes and potentially receive an instant decision.

    Needless to say, getting $500K of near-instant coverage with no medical exam, would be a dream purchase experience.  So if you’re young and in good health, this will definitely be an enticing option.

    AAA Traditional Term Life Insurance

    The second term product on offer is a fully underwritten policy.

    With these policies, applicants have to provide a greater amount of information, including going through a medical exam, but the upside is that prices are generally lower.

    Another key difference is that the traditional term policy offers several riders, as listed below.  (Riders are “add-on” features to insurance policies that provide optional benefits for an additional cost.)

    1. Child Term: Allows you to add $20,000 of life insurance on each of your children
    2. Disability Waiver of Premium:  Waives your premium obligations if you become disabled
    3. Return of Premium: Gives you back all of your payments if you live to the end of your term

    How Much Does AAA Life Insurance Costs?

    If you’re interested in getting a life insurance policy from AAA, the first step is to request a quote.

    The estimate that you see for your monthly premium rate won’t be fixed in stone, but it should give you a sense of the coverage amount you can afford.

    1. Navigate To The Relevant product Page

    First, choose the product you believe best matches your needs; for example, ExpressTerm, Traditional Term, disability insurance, etc.  

    (Of course, you can always change this later if you want to explore pricing for a different product.)

    Then, navigate to your chosen product’s page on the AAA Life website.  

    2. complete the quote form

    You should see a quote form at the top of your page that looks very similar to the first image below.  

    Fill out the requested information on both pages.  (Feel free to use a fake email address if you prefer not to share your contact information.  You’ll be shown your quote regardless of what you enter into the email field.

    Unlike many of its peers, who either have lengthy quote forms or email you a quote at some later point, AAA gives you an instant quote after the two simple pages below.

    (You can see exactly what information AAA Life requests of you in the two screenshots below.)

    Quote Form: Page 1

    AAA Term Life Quote Form 1

    Quote Form: Page 2

    AAA Term Life Quote Form 2

    3. Use "Quote Calculator" To Find The Best Policy For You

    At this point, you should see your estimated monthly premium rate on a page that looks similar to the image below.

    This page shows your quoted monthly premium rate.

    Even better, it gives you a "quote calculator" that allows you to see your monthly premium rate (price) for different term lengths and coverage amount combinations.

    To change the term length, simply click on one of the four options at the bottom (10, 15, 20, or 30-year).  And to adjust the coverage amount, use the slider.

    AAA Term Life Quote Result

    Conclusion

    We hope you found this review of AAA Life helpful.  If you have any questions remaining, don’t hesitate to leave a comment here or email us at hello@getsure.org.

    In any case, we hope to see you back here soon!

    Warm Regards,
    The GetSure Team

    Sources

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