Page 7 - Explore Your AAA – AAA Southern Pennsylvania – March/April 2019

Because life insurance can be an important part of your financial planning – and securing your family’s future – it helps to separate facts from fiction.
Myth: “I don’t need life insurance; I’m single.” Truth: There are many scenarios that make life insurance a good idea for single people. You may have elderly parents who depend on you for their care (or will in the future). You may want to leave funds for family, such as a niece or nephew, or even make a financial contribu- tion to an alma mater or a beloved charity. And life insurance policies can provide value other than a death benefit. Universal life insurance, for example, builds up cash values that can
be used toward business opportunities or to supplement retirement income.
Myth: “Life insurance costs too much.”
Truth: People tend to overestimate the cost of life insurance. Term life insurance is a particularly affordable option that can be
an economical way to provide valuable life insurance protection. The coverage lasts for a specified period of time and can give you the peace of mind of knowing that you will have
helped ease the financial burden for your family in your absence.
Myth: “I have to buy a separate policy for each child I want to insure.”
Truth: Many types of life insurance can be customized to meet your needs. Should
you decide to purchase coverage for your children, you may be able to use “riders” to add on coverage for them. The riders add layers of protection and benefits that are not part of the standard policy.
Myth: “I can’t get life insurance because I’m a senior citizen.”
Truth: There are policies available to senior citizens, and they can play an important role in the handling of final expenses, which might otherwise burden a surviving spouse or other family members. For example, a universal
life insurance policy can be designed to immediately increase the inheritance you leave and assure your legacy is preserved.
Myth: “As a stay-at-home parent, I’m not drawing pay – so I don’t need life insurance.” Truth: Individuals such as stay-at-home parents
provide a valuable contribution to a household, even though they may not be earning a paycheck. A surviving spouse may need to pay for services like child care and housekeeping that were previously performed without financial compensation. These are all common myths about life insurance, but they aren’t the only ones. For a better understanding of life insurance – and to see if you have any false assumptions of your own – make a plan to talk to your AAA Life Insurance Specialist.
Talk to a specialist: Call 1-800-222-1469, visit AAA.com/Life, or stop by your local AAA office.
Life insurance underwritten by our affiliate, AAA Life Insurance Company, Livonia, MI. AAA Life is licensed in all states except NY. AAA Life CA Certificate of Authority #07861.
Insurance
Recognize life insurance myths and truths to make wise decisions
Life Changes
Get protections for today & tomorrow.
Life insurance and annuity products aren’t just for after you’re gone. They can help improve your quality of life by helping pay off a mortgage, helping you with your child’s education, planning for your retirement, and more. Your specially-trained AAA Life Insurance Agent can help you choose the right life insurance product to meet your specific needs and goals - now and in the future.
Call 1-800-222-1469, Visit AAA.com/Life, or Stop by your local AAA office.
Life insurance underwritten by AAA Life Insurance Company, Livonia, MI. AAA Life (CA Certificate of Authority #07861)
is licensed in all states except NY. Automobile Club of South California License #0003259. CSAA Life Insurance Agency of California, Inc. CA License #00212130. Insurance products in Northern California offered through AAA Northern California Insurance Agency, License #0175868, in Nevada by AAA Nevada and in Utah by AAA Utah. Your local AAA club and/or its affiliates act as agents for AAA Life. Traditional Term Policy Form Series: ICC11-1201/TL-1201 (In OR: ICC11-1201).
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