AAA Life Insurance Company submitted a Florida filing for a new agent sold term life insurance product designed for AAA members, featuring coverage amounts ranging from $25,000 to $50 million and terms convertible to permanent life insurance.

The product is a renewable and convertible term life insurance policy to age 95, with applicants able to select initial level premium periods of 10 or 20 years. After the level term period, premiums renew annually. The filing includes optional riders for accidental death, travel accident coverage, child term coverage, and accelerated death benefits.

According to the actuarial memorandum, the product includes a $120 annual policy fee and a 10% discount for AAA club members. AAA Life stated the discount is based on lower mortality experience among AAA members compared to non members.

The filing outlines both digital and in person distribution through licensed agents. Applications include health questions related to nicotine use, major medical conditions, and diagnostic testing, alongside options for EFT, credit card, and direct bill premium payments.

Sample policy documents included in the filing show a 35 year old non nicotine male paying an initial annual premium of $456.05 for a $100,000 policy with multiple riders attached.