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4 Savvy Insights

1. It’s less than you think! When people were asked how much a $250,000 term life insurance policy would cost a healthy 30-year-old, they estimated $500 — more than three times what it actually costs.*

2. There are downsides if you wait to get it. Act sooner and your rates will be better. When you’re older, you may develop conditions that could make it more difficult (or even impossible) to get coverage.

3. You can have more than one policy. Supplement your coverage through work with a permanent policy that can provide additional coverage for a lifetime.

4. You can leave money to more than your relatives. Your life insurance payout can go towards a religious organization, humane society or an alma mater.  

           — Steve Simmons, Assistant VP of American Auto Club Insurance Agency

Contact AAA for more information about these products at 800-424-3751.
 
*Source: LIMRA 2017 Insurance Barometer Study. Best annual cost of a 20-year, $250,000 level-term policy through AAA Life for a healthy, non-smoking 30-year-old consumer.
 
(Go Magazine May/June 2018)

 

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