Life insurance from American Assurance USA can help you secure your family's financial future by providing the funds they need to: cover burial expenses, uninsured medical bills, pay off your mortgage and other outstanding debts, and maintain a comfortable standard of living.
There are a variety of life insurance policies that we can provide. The kind of policy you choose depends on your needs:
Term Life Insurance
Term life insurance is a low-cost way of providing maximum coverage for your family. Protection is provided for a limited number of years. The insurance expires without value if the insured lives beyond the policy period, usually 5 to 30 years.
Term insurance premiums will not increase during the guaranteed policy time period (term) you select. Term life insurance pays a death benefit only if you die during that term. Term insurance generally provides the largest insurance protection for your premium dollar.
Term life Insurance remains in force for as long as premiums are current, provided there are no misrepresentations on the application. The insurance coverage terminates if you discontinue your premium payments.
Universal Life Insurance
Universal life insurance is characterized by great flexibility. Policyholders can determine the amount and frequency of premium payments (i.e. the more you pay, the less time you will need to pay). Your premiums cover the insurance part, as well as the savings or investment element and the expense part. The stated interest on the investment portion changes along with movement in interest rates; moves in 1/4 % interest steps are typical as banks and other financial institutions make similar moves.
Whole Life Insurance
Whole life insurance provides permanent protection for the whole of life, from the date of policy issue to the date of the insured's death, provided that premiums are paid. Premiums are set at the time of policy issue and remain level for the policy's life. Unlike term insurance, whole life combines insurance protection and savings or cash value which builds over time. Cash value build-up may provide a source for living benefits, for example, helping pay off a mortgage, or a child's education, or cash surrender value if the policy is ever canceled.
These products are continually changing, and we can provide you with the latest information and policies available!
Understanding Your Rate Class
Here is a quick rundown of who is included in each category:
Preferred: This classification usually refers to the very healthy. In order to qualify for this level, you need to have a normal weight and height as well as no family factors that could lead to an early death. This category enjoys the lowest premiums and may also be called Preferred Elite or Preferred Plus.
Standard Plus: These applicants are still in great health but a medical or lifestyle factor prevents them from qualifying for a Preferred Select. Being overweight, having high blood pressure or cholesterol issues could be the culprit.
Standard: This is for everyone who is average when it comes to heath. They have a normal life expectancy and could have weight issues or a parent that died early.
Preferred Smoker: If you are a smoker who would normally fall into the preferred select category, this is where you will fall. Smokers will always pay more for life insurance so be prepared for a higher premium.
Standard Smoker: A smoker who would fall into the standard category if they didn’t smoke will be placed in this category.
American Assurance USA offers free, comparative quotes on Individual Life Insurance from multiple insurance carriers so you can get the best possible rate.
Want to see how much we can save you? Just request a quote to find out.