Financial Fitness

Whole Life Insurance

A life insurance policy can help your family maintain the lifestyle they've grown to love and provide long-lasting financial security. 

We work with the best in the business to find you the best policy.  Learn more about the life insurance products we offer. 

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What is Whole Life Insurance? 

Whole life is the most well-known and simplest form of permanent life insurance. While term life insurance lasts for a specified term, whole life insurance is designed to last for the rest of your life. A payout is guaranteed at the time of death for your policy’s beneficiaries, and some of the money paid into the policy (your premium) is set aside to build “cash value.” You can use this cash value for emergencies or to supplement retirement income by taking a policy loan against the cash value. 


Note: outstanding policy loans will decrease the amount of the death benefit paid to your beneficiaries.

HOW INSURANCE WORKS

The modern way to get Life Insurance

1

Fast and Easy

Application

Our application is simple, straightforward, and 100% online–meaning you can apply for life insurance from the comfort of your home. Most applicants don’t even need a medical exam.


2

Money Back 

Guarantee 

If you’re not happy with your policy in the first 30 days for any reason, we’ll refund your payment in full. After that, you are also free to cancel your policy at any time if it doesn't work for you, with no cancellation fees.

3

Lifetime Client

Support            

Whether you need technical support, answers to your life insurance questions, or unbiased advice from a licensed agent, our team is available to help.


4


​Start the Process

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Whole life insurance might be right for you if:

  • You want coverage for the rest of your life
  • You want a policy that builds cash value over time
  • You want a policy that can be used for legacy planning or to help cover your final expenses
  • You’re willing to pay a higher premium for the unique benefits of this coverage

Simple guaranteed issue from 
​AAA Life Insurance Company

For many people, age and health issues make it difficult to get access to life insurance. That’s why we work with AAA Life to offer guaranteed issue whole life insurance. If you’re 65-85 years old, you’re guaranteed to be approved in a matter of minutes, regardless of your medical history (and without medical exams).  With a secure rate that will never increase, you’re covered for life.



Is this coverage right for you?

Many people love this guaranteed issue whole life coverage because you can get approved and covered in a matter of minutes, and there are never any medical exams. This type of life insurance may be great for you, particularly if:

  • You’re between the ages of 65 and 85
  • You want a simple process without medical exams or lab tests
  • You thought you couldn’t get life insurance because of your age or health
  • You want your policy to build cash value
  • You want coverage for the rest of your life
  • You don’t want your family to have to worry about your final expenses
  • You’re willing to pay a higher premium for the unique benefits of this coverage

Features of this coverage

See what’s included with every guaranteed issue whole life policy.

Guaranteed Level Premiums

Your quote is the same as your final rate, and the rate you get today will never go up (as long as you keep up with payments).

Build Cash Value

This is a whole life insurance policy, which means it builds cash value automatically. When available, you can borrow against this cash value for unexpected emergencies, or even to pay medical bills or go on vacation. Keep in mind that annual loan interest will be applied to any outstanding loan balance, so it’s a good idea to pay it back if you can. The final death benefit will be reduced by any outstanding loans you have taken on the policy and any premium due.

Graded Death Benefit

This policy contains a modified benefit clause, which means if you suffer a covered accidental death, you get the full amount of your coverage. But if you suffer a non-accidental death within the first two years of coverage, your beneficiaries get 100% of the premiums paid, plus an extra 30%. After two years, the full Benefit Amount is paid for death due to any cause.

Double Death Benefit

Beginning in the third policy year, grading no longer applies. The benefit will be 100% of the policy (minus any outstanding loans/premiums and debt), unless the death is caused by a covered travel-related accident, in which case the death benefit would be 200% of the policy.



How do policy claims and payouts work?

After the first two policy years, the Death Benefit is calculated as follows:
  1. Face Amount; plus
  2. Premium paid past policy month of death; less
  3. Any policy debt; less
  4. Premium required to keep policy in force if death occurs during grace period.
If the insured dies, the beneficiary will not receive the entire death benefit if there is an outstanding policy loan. If death occurs during the first two policy years, or is the result of a travel-related accident, the death benefit could be different.

How much does whole life insurance cost?

Because you’re guaranteed to be approved no matter what, this life insurance is more expensive than other types of coverage out there. Your age, gender, and the coverage amount you choose are the only factors that affect your price. Your health or past medical history won’t affect your rate, and you won’t need any medical exams, either. In many cases, this is the best option for people who are likely to be denied coverage elsewhere or who are viewed as “uninsurable” by other carriers.

The quote is the same as the final rate. It’s also guaranteed never to go up. As long as premiums are paid when due, the rate you see now will be locked in for as long as you have this insurance.

No medical exams, lab tests, or questions about your health.
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FAQ

What does a policy cover?

What does a policy cover?

It’s ultimately up to your beneficiaries to decide how to use the payout. People often use it to help cover things like:
  • Home mortgages or rent
  • Lost income
  • Loans & debt
  • Children’s education
  • Living expenses
  • Funeral costs
How do policy claims and payouts work?

How do policy claims and payouts work?

In general, it’s simple for your beneficiaries to file a claim and receive the payout. If you pass away while your coverage is in force, your beneficiary can file a claim with your insurance carrier, and the carrier will work with them to issue the death benefit payout. Your insurance carrier will be identified on your policy documents. Assuming there are no unusual complications, your beneficiary will receive an untaxed, lump-sum payment for the value of the policy (the death benefit). For example, if you purchase $1 million in coverage, your beneficiary will receive a tax-free $1 million lump-sum payout.

Is there a chance the payout won’t be paid?

Is there a chance the payout won’t be paid?

A claim may not be paid out if underwriting finds that parts of the application were answered untruthfully or if the claim is the result of death by suicide within the first two years of the policy being in force.

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