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AAA Life Insurance Company Review


ConsumersAdvocate.org Rating: 4.9 / 5 (Excellent)
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AAA Life Insurance Company is based in Livonia, Michigan and offers life insurance and annuity products. Its guaranteed issue whole life policies provide coverage for final expenses. In 1969, AAA Life became a part of AAA and is owned by several of the largest entities in the AAA organization.
 
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How is AAA Life rated?

Breakdown

5.0/5
Policy Features
5.0/5
Qualifications
4.9/5
Financial Strength
4.9/5
Customer Experience

Overall Rating: 4.9 / 5 (Excellent)

AAA Life Insurance Company offers guaranteed issue whole life insurance policies that can provide coverage for people's final expenses. These policies are issued subject only to age criteria to both members and non-members of the AAA, so they're a great option for those who want to sign up for a policy quickly. There aren't many restrictions or limitations on the policy. Once you have it, it's guaranteed for the rest of your life, however long that might be. Exploring your options only takes a minute. People between the ages of 45 and 85 are guaranteed acceptance without a medical exam, which makes it a fine option for those who don't want their families to struggle with their final expenses.

AAA Life Policy Features

Policy Features - 5 / 5

AAA Life Insurance Company's guaranteed issue whole life insurance policies offer between $5,000 and $25,000 in coverage that can help cover final expenses. Acceptance is guaranteed to adults between the ages of 45 and 85 and there's no medical exam necessary. You're able to buy a policy online in just a few minutes, so it's a good fit for those who want to purchase a policy right now.

These guaranteed issue whole life policies feature a graded benefit, which means that your beneficiaries will receive the total benefit amount from day one for accidental death. If you suffer a non-accidental death within the first two years of coverage, your beneficiaries will get 100% of the level monthly premiums you paid, plus 30%. If death occurs after two years, then the total amount of your coverage is paid, no matter what the cause of death.

Policy Coverage Maximum

$25,000

Types of Insurance Products

  • Guaranteed Issue (GI)
Types of Premiums
Fixed
Restrictions on Benefit Usage
No
Cash Value Accumulates
Yes

AAA Life Qualifications

Qualifications - 5 / 5

AAA Life Insurance Company's guaranteed issue whole life insurance policies are open to adults between the ages of 45 and 85. They don't require a medical exam and don't bar those with certain health conditions from purchasing a policy. This makes them a solid option for those with health conditions that may prohibit them from securing a similar policy with other companies.
Age Range
45 to 85
Medical Exam Required
No
Disqualifying Factors
Age

AAA Life Financial Strength

Financial Strength - 4.9 / 5

AAA Life Insurance Company underwrites its own insurance policies and maintains an A rating with A.M. Best. This is encouraging because it means the company is in a good position to be able to pay out any funds it owes you when the time comes. Further, the company has been in business for over 50 years, suggesting that it has prudently managed its assets and liabilities in good economic times and bad.
Year Founded
1969
Company Type
Underwriter
Underwriter
AAA Life Insurance Company
A.M. Best Financial Rating
A

AAA Life Customer Experience

Customer Experience - 4.9 / 5

Complaints against insurance companies are not unusual. AAA Life Insurance Company has received mixed reviews from customers. Its reviews with the Better Business Bureau (BBB) are mostly negative, but the company still maintains an A+ rating with the organization for its prompt handling of the complaints. It also has a few complaints with the National Association of Insurance Commissioners (NAIC), but its complaint ratio is below the industry median, which means that AAA Life receives fewer complaints per customer than most of its competitors. This suggests to us that consumer satisfaction is better than average.
BBB Rating
A+
Number of BBB Positive Reviews
0
Number of BBB Negative Reviews
5
NAIC Complaint Ratio 2018
0.71
Date Collected
2020-03-04

Company Profile

Full Name
AAA Life Insurance Company
Company Website
https://www.aaalife.com/
Headquarters
17900 N. Laurel Park Dr., Livonia, MI, 48152

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Customer Comments & Reviews

Loading Reviews ...
dmaf48
3/29/2021
Very negative rating. Stalling to pay claims. I should have received payment for $100,000. Death benefit 11 days ago. No call back during repeated contact. So sorry I went with AAA. Fox assist. Mgr (no help) Dan his mgr. Everyone put in file for call backs. Run-a-round with 21 day reviews for processing. What b.s. this is my second review. Wife died 3 months ago. Still waiting !!! Bills not waiting, just AAA.

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