Life Insurance AAMI – Know Your Options
Taking out life insurance is a crucial financial decision.
It is taken with the best interests of your family at heart because you may not always be there to provide for them.
AAMI is a leading insurance company with different products to cater for a wide clientele. Losing the ability to provide for your family or the death of a bread winner can cause great financial hardships.
However, life insurance AAMI can help cover your living expenses, pay mortgage costs and provide funds for families to continue to live a normal lifestyle.
Life Insurance Policy Features Offered By AAMI
Applying for an AAMI life insurance policy does not require one to go for a medical test. The premiums will be calculated based on your age, health, occupation and risk level. There are also several features that come with the life cover:
Accidental Death Cover
Accidents are sudden, leaving one feeling overwhelmed and even confused. In such a time, you want the assurance that someone has your back. AAMI gives you a limited accidental death cover as your application is still being processed.
Terminal Illness Benefit
If you have been diagnosed with an illness that is terminal, AAMI will issue you with a lump sum benefit aimed at helping you put your financial affairs in order and make proper plans with your estate. This gives you an opportunity to organize the affairs of your family and any medical services you may need, visit us for more info. Read: How to Find Very Cheap Term Life Insurance
This is paid out to the policy holder’s family or next of kin upon death.
Funeral Advancement Benefit
When a loved one dies, funeral arrangements need to be made immediately. During this period you need operating cash to meet the funeral costs. AAMI issues a cash advance of 10,000 dollars as funeral advancement. When your application has been fully processed, the family of the deceased receives the remainder, less the advance.
Policy holders who wish to keep their budget under control can apply for a premium freeze. What this means is that once the freeze has been actualized, you will be required to pay year after year, and your benefit will decrease. You can then impose a lift once your financial situation improves.
Lifestyle Increase Benefit
Your lifestyle needs and commitments change as you go through life. Getting married, having children, purchasing a new home or paying fees come with greater financial obligations. A major advantage of the AAMI life policy is that it grows with you. AAMI has a provision that allows you to increase your benefit amount by 10,000 dollars each year. This is until you attain 60 years of age, and you never have to provide any new medical details.
The 13th Month Free
There are several bonuses that come with taking out a life insurance AAMI. If you have been consistently paying your premiums for a period of 12 months, the payment on the 13th month is waived.