AARP Life Insurance

AARP Life Insurance Ratings at a Glance

AARP, through New York Life, offers permanent life and term life insurance with simplified underwriting. For those who want life insurance without having to take a medical exam, AARP ranks 5 stars out of 5.

AARP also ranks highly in as much as all members qualify, unless they are over the age of 80 or have a terminal illness. Not only are AARP members guaranteed acceptance, their spouses and minor grandchildren qualify as well.

New York Life, which underwrites policies for AARP members, ranks as the highest group life provider for customer satisfaction in the J.D. Powers 2021 survey.

For term life insurance, members from age 50 to age 74 can apply. Coverage lasts until the insured’s 80th birthday. While the benefit remains the same, premium increases occur every 5 years. Term life qualifies for conversion to permanent life before the age of 80.

Permanent life insurance, or whole life, is available to AARP members between the ages of 50 and 80. Spouses can apply as early as age 45. Like term life, benefits remain the same. Unlike term life, monthly premiums do not increase. Whole life benefits go as high as $50,000.

For guaranteed acceptance life insurance coverage, applicants need to answer only one health question, although only a portion of the death benefit will be paid out for death by natural causes in the 2 years after the policy commences. Policies cap at $25,000 coverage.

AARP members can also purchase whole-life policies for their children and grandchildren, up to the age of 17. Coverage maxes out at $20,000. At age 21, the child or grandchild becomes the new policyholder.

If you have questions about your AARP life insurance policy through New York Life, you can call Monday to Friday between the hours of 8 a.m. and 8 p.m. (EST), or Saturday between 9 a.m. to 5 p.m., at 1-800-607-6957. Or, you can access your account online at nylAARP.com.

It also has an informative FAQ and learning center, answering questions from how to get started to how long you can keep your insurance.

AARP life insurance can run a little higher in price than others, but it’s important to remember that the company caters to seniors. What they lose in competitive pricing, they gain in customer acceptance. AARP guarantees members qualify for at least 1 type of insurance, no matter the preexisting conditions, as long as they are below the age of 80 and don’t have a terminal illness. Considering the circumstances, AARP life insurance pricing is quite affordable and ranks high.

AARP has tons of user benefits like guaranteed acceptance even without a medical exam. When buying coverage from AARP, you can buy multiple policies and possibly save money. Also, grandparents looking to set their grandkids up for financial success in the future are able to purchase policies for their grandchildren under the age of 17.

AARP also offers a super informative learning center. Their customer service is highly rated, meaning you’ll find the process of buying life insurance easy and pleasant -- and will continue to have the same experience as a policyholder. 

While AARP doesn’t offer a mobile app that allows members to handle their life insurance - and it may not be the worst thing since its target demographic is built for pre-internet generations - it does offer an ARP app that allows users to stay current on the latest news that affects them. But AARP’s stellar customer service makes up for it. Plus, the application process is as simple as can be, so the lack of a mobile app is no issue when it comes to signing up and getting coverage.

AARP Life Insurance vs. Competitors

When it comes to comparing AARP life insurance with other companies, it’s not only price but what you get for your money. Because AARP is an organization for seniors, it focuses on senior benefits and making sure members of that population qualify. While many other companies may lure you in with the promise of lower rates, more often than not you’re not going to qualify for that lower rate, or even at all.

While AARP life insurance policies have caps, it’s possible to get more than one policy. That means if you get 2 policies:

• Term life max benefits — $200,000
• Whole life max benefits — $100,000
• Guaranteed acceptance benefits — $50,000

You will pay a bit more. As a senior, you’re expected to pay higher premiums. The good part is that AARP sponsors policies underwritten by New York Life, one of the biggest and best insurance companies in the business.

Benzinga gives AARP life insurance an overall rating of 4.5 out of 5. While seniors get guaranteed acceptance, premiums can be a little high. Still, compared to its competitors, that’s par for the course. Bottom line — seniors are going to pay more, and AARP makes sure that if you need life insurance, you’ll get it.

Frequently Asked Questions