AARP Life Insurance Review

New York Life, in partnership with AARP Life Insurance, offers medical-exam-free life insurance. Budget-conscious consumers, those in need of additional coverage, and those who might otherwise be denied coverage under traditional insurance policies will all be able to find answers here.

However, AARP offers coverage up to $100,000, which is rather reasonable. In plans that don’t need exams, there is typically just a minimal amount of insurance coverage. If you’re willing to take a test, you can receive greater coverage for less money. If you can’t take the exam, you may want to check for AARP coverage. See what AARP Life Insurance has to offer in our AARP Life Insurance Review.

AARP Information

AARP Life Insurance Review - AARP Insurance Company Logo
  • Policies are available for purchase.
  • Duration, permanence and acceptance coverage are all terms used interchangeably.
  • It’s necessary to get a medical examination worth $100,000. There are no states to choose from.
  • The average age in the United States is rising. It’s not on the list

Pros and Cons of AARP Life Insurance

Pros

  • For guaranteed acceptance, term life insurance rates start at only $11 per month.
  • There is no waiting time for whole life insurance, often known as level benefit term life insurance.
  • 30 day money back guarantee included.
  • We ship everywhere in the United States!

Cons

  • Massachusetts and Washington do not give accelerated benefits, while New Jersey does not guarantee entry.
  • After the two-year waiting time has passed even though you have been assured acceptance, the entire death benefit will be given to your beneficiaries.
  • If you live in one of those states, you’ll have to send in your application instead of submitting it online.

AARP life insurance rates

According to your age and health, AARP’s premiums start at $156 per month for $100,000 of coverage. Premiums increase every five years for the first 80 years of coverage.

  • Age 50 – 54 – Woman: $52 & Man: $74
  • Age 55 – 59 – Woman: $80 & Man: $109
  • Age 60 – 64 – Woman: $125 & Man: $159
  • Age 65 – 69 – Woman: $175 & Man: $212
  • Age 70 – 74 – Woman: $266 & Man: $306 

Factors that affect your life insurance rates

The AARP’s New York Life life insurance plans website does not provide any information on the rating levels. This isn’t unusual for a life insurance firm, but it shows less transparency than other companies.

A variety of variables contribute to high rates at other businesses.

  • Health history. Having a history of certain medical concerns in one’s family may result in a higher premium.
  • Use of illegal or prescription drugs, or excessive consumption of alcohol. People who have a history of alcohol or drug abuse are more likely to have an accident than the average person.
  • Tobacco use is practiced. Use of cigarettes or nicotine during the recent year may have an impact on your rates.
  • Health. In the previous five years, your risk may have increased if you were diagnosed with any of the following diseases: cancer; stroke; diabetes; kidney; liver; heart disease; HIV; AIDS; or asthma.
  • Reputation is an important factor in driving behavior. Driving under the influence (DUI) and driving while intoxicated (DWI) convictions boost insurance premiums for everyone.

How to get a quote from AARP life insurance

You may get in touch with AARP by calling 1-888-687-2277. Life insurance quotes and enrollment are available to those who are not AARP members.

  1. To begin, check how much it will cost by clicking on Get An Estimate.
  2. Insuring yourself might be as simple as choosing between term, permanent, or a guaranteed acceptance policy.
  3. In addition to your name and contact information, include the amount of insurance you desire.
  4. To begin your application, click on Get a fast quote after that.
  5. It’s possible to join AARP by calling the organization directly at 866-238-6135.

AARP offers term and whole life

AARP offers four distinct life insurance plans with simplified underwriting. Consequently, you will not be required to go through a medical examination to be approved for insurance coverage coverage. In addition, it’s possible to obtain a lifetime guarantee of acceptance without having to have a medical examination or complete a health questionnaire.

Plan

  • Child Policy. Coverage $10,000 up to $20,000
  • Guaranteed Accepted Whole Life. Coverage $2,500 up to 25,000
  • Term Life. Coverage $10,000 up to $100,000
  • Whole Life. Coverage $5,000 up to $50,000

If you’re over 80 and want to keep your life insurance coverage, consider converting your AARP term life policy to permanent insurance. Up to the day you turn 81, you can convert your AARP term life insurance to a permanent group policy.

When you apply for coverage, you are not required to provide any medical information or have a medical exam. Whereas when you convert, your exchange rates will be based on your actual age.

Does AARP offer burial insurance?

AARP’s guaranteed acceptance policy gives burial insurance to seniors 50 to 80 years of age without requiring them to fill out a health questionnaire or have an evaluation performed on their health. The only catch is that you’ll have to pay AARP membership fees on top of your regular insurance premiums. Last expense insurance often has a cap of $25,000 on coverage. Funeral insurance from AARP is available in all but two states: New Jersey and Washington.

AARP offers 3 policy add-ons

AARP has fewer choices for customizing policy than other organizations, but those alternatives are nonetheless useful. The following cyclists are deserving of consideration:

  • Accelerated death benefit rider. Known as living benefits, if the policyholder is diagnosed with a terminal disease, the death benefit might be released early.
  • Rider under the age of 18. The Young Start plan, which is different from the rest of AARP’s services, is for children under the age of 18.
  • Rider reneging on his or her promise to pay more. A temporary inability to make payments as a result of illness, accident or disability is covered by this add-on.

AARP life insurance reviews and complaints

When it comes to business accreditation, the BBB does not recognize AARP, yet their customer service is highly rated nevertheless. Some of the BBB’s concerns were about AARP’s other services, while others focused on the company’s claim payment delays. According to Trustpilot ratings, AARP is in the middle of the pack due to a complex website. AM Best an A++ is the best possible credit score.

According to the Better Business Bureau, New York Life Insurance has an A- rating, and customers have given it a star rating of 1.67 out of 5. There have been 92 complaints filed against the company in the previous three years, which is a low figure for an insurance company.

How AARP life insurance compares to other insurers

As a result of this, AARP insurance is an excellent option for those who don’t qualify for standard coverage since they demand medical exams. It’s rare to find an insurance company that offers coverage that doesn’t need you to take an exam.

However, if you die within two years of starting your insurance, you will only receive a portion of the death benefit if you have a guaranteed issue policy. You may find insurers who don’t have a waiting period tied to this coverage.

As a result of New York Life Insurance’s excellent consumer and financial ratings, these products have a solid reputation. According to a number of reputable rating agencies, New York Life has received high marks.

Bottom line

There’s a chance the elderly and those with pre-existing conditions will have lower coverage levels, although AARP does provide insurance that doesn’t require an exam to be accepted.

Comparing AARP’s insurance options with those of other companies might help you make an informed decision. Compare up to four companies side by side, and then ask for quotes from the ones you like the appearance of the most.

To learn about even more options, check out Best Life Insurance’ AAA Life Insurance Review!