Common Cents
Sept/Oct 2009 Issue

Life insurance is important at every stage of life

Significant life events often make us think about the future. It is at times like these when we should consider life insurance to help project our family.

  • Getting married is the start of a beautiful future. If the unexpected were to happen, however, could you spouse meet necessary financial obligations?
  • Buying a home is a dream for many of us. Adequate life insurance coverage can help pay off a mortgage so your family can stay in the home they’ve come to love.
  • Providing for your family is tied to your income. If you are no longer with them, a life insurance policy can replace your income and allow your family to continue living the life you’ve helped provide them. It also can help with large expenses, like college tuition, in your absence.
  • Planning for retirement should include a life insurance policy so a surviving spouse can use the proceeds to meet retirement goals.
Life insurance doesn’t cover a specific event–it can cover a lifetime of needs for your family. Contact your AAA insurance specialist for a free quote, visit www.AAA.com or call (800) 222-7623, ext. 7038.
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What does it cost?

We’re all trying to save money wherever possible. To assist with this, here are a few examples what you can buy for:

  • about $100–Two adult tickets to Eureka Springs’ Great Passion Play, dinner, Living Bible Tour, Bible Museum Exhibit, Sacred Arts Exhibit, and Museum of Earth History Exhibit. Save $12 per ticket when purchased online at www.greatpassion play.com. The outdoor drama last year celebrated 40 years in Arkansas’s Ozarks.
  • about $300––A four-night western Caribbean cruise sailing from New Orleans to Cozumel on Sept. 10. The $279 rate is per person for an interior cabin and does not include transportation to New Orleans. For details, visit www.AAA.com/travel or call (888) 366-4222.
  • about $500––Two Magic Your Way admission tickets to Walt Disney World Resort in central Florida. Visit one theme park per day whether you have a three-day or 10-day vacation. The average price per day for a seven-day ticket is $32.57; that’s less than half the price of one-day admission. Autumn is a popular time for adults to visit the resort as the weather is cooler and family crowds are fewer.

Ask your AAA Travel professional to help you plan a trip by calling (888) 366-4222 or visit www.AAA.com/travel.

Insurance ratings defined

To many consumers, all insurance companies look alike, but when the unforeseen happens and you need to rely on the coverage you have purchased, the ability of your insurance company to pay claims is vital.

Understanding financial ratings can help you make the best decision.
A.M. Best defines secure as a rating of B+ or higher. The objective of the rating system is to provide an opinion of an insurer’s financial strength and ability to meet ongoing obligations to policyholders. These ratings measure the ability of an insurance company to pay your claim. The higher the rating,
the less likely it is that a major catastrophe will cause an insurance company to become insolvent.

AAA Insurance only represents companies with solid financial foundations, including AAA-owned companies (A+ Superior) and others with secure ratings from A.M. Best or Standard & Poors.

Visit www.ambest.com or www.standard andpoors.com for more information on insurance company ratings. For additional information on insurance costs, call (877) 222-7095 or click www.AAA.com.


CD’s now offer a no-penalty feature

As part of an ongoing effort to provide members with exceptional savings opportunities–especially during these uncertain economic times–AAA is introducing a no-penalty feature on its 12-month certificate of deposit. This feature is available to new and renewing 12-month account holders. In the event an account holder experiences an involuntary loss of his or her job and needs access to the CD, a penalty will not be imposed.

In addition to this new no-penalty feature on the 12-month certificate of deposit account, the AAA Deposit Program offers Money Market accounts and CD IRAs with member-exclusive rates that are FDIC insured to the maximum allowed.

For more information, visit www.AAA.com/deposits or call (888) 728-3048.

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