AA Life Insurance

AA Life Insurance comes from the Automobile Association Insurance Services Ltd. and is considered one of the best value deals in the UK. It has been awarded by MoneyFacts twice in a row since 2007 as the Most Competitive Term Assurance Direct Provider. AA offers three main insurance options

Level Term Life Insurance: This provides a fixed lump sum cash payout to help your beneficiary at cushioning the family’s future financial obligations if you die during the term of the policy. The amount of cover is constant throughout the duration of the policy term.

Mortgage Protection Life Insurance: This provides a lump sum cash payout to cover the cost of mortgage payments on the remaining balance after your death. The assured cash payout is reduced each year in line with the diminishing outstanding mortgage balance. Premiums here can be cheaper than in the Level Term Life Insurance.

Critical Illness Cover: This is an optional coverage that can be added to either of the above options to provide a lump sum cash payout if you are diagnosed with critical illness as defined in the policy during the policy term. Both level term and mortgage protection plans include terminal illness cover that provides lump sum cash payout if you are diagnosed with terminal illness with less than 12 months of life expectancy. However, this provision won’t apply if the diagnosis is made during the last 12-18 months before the insurance term ends.

Opting for Joint Cover and Premium Waiver

You can elect to have a joint insurance policy which may be ideal with a partner or your spouse in any of the above options. The lump sum cash payout is given when either partner dies or is diagnosed with terminal illness during the policy term. The policy ends when the cover amount has been claimed and paid out.

Premium Waiver: this is an option that protects your cover premiums in the event you are rendered incapable of working six months after contracting an illness or get accidental physical injuries. AA will assume the premium payments until you are assessed to be fit enough to return to work.

Competitive Insurance Features

AA will search for the best value insurance deals and match the best ones found in the market. For as low as £5 per month on a £100,000 insurance, you can get peace of mind on your family’s future financial health. This rate is based on AA calculation table for a non-smoking 35 year old male or female on a 20-year insurance term

All of its cover plans are fixed term life insurance without cash values. Insurance term ends when premium payments stop. Monthly premiums chosen remain constant for the duration of the policy term.

Online Insurance Advice

AA provides instant online personalized quote within minutes. Unlike many other insurance companies, AA provides a comprehensive online advice on the various options you have when deciding for the best insurance that fits your personal and financial circumstance. Just input your income, bank and employment details and the form-based site returns with free advice. On top of that you can call their 0800 587 2624 number for further consultation.