Life Insurance Options For People With Health Problems

AARP life insurance is provided by New York Life Insurance Company and is available to AARP members aged 50-80. The coverage offered includes term life insurance, permanent life insurance, and guaranteed acceptance life insurance. While AARP life insurance does not require a medical exam, it is important to note that it may not be the most cost-effective option for healthy seniors. The rates tend to be high, especially for term life insurance, and the death benefit is limited to $50,000 or less. However, for seniors with pre-existing conditions or those who would struggle to obtain life insurance elsewhere, AARP life insurance could be a good option.

AARP life insurance for seniors with pre-existing conditions

AARP life insurance is offered in partnership with New York Life and is available to AARP members aged 50-80 and their spouses/partners aged 45-80. The program includes three types of coverage for seniors: term life, whole life, and guaranteed acceptance whole life. None of these policies require a medical exam, making AARP a good option for seniors with pre-existing conditions.

The guaranteed acceptance whole life policy does not require answering health questions, but there is a 24-month waiting period. If the insured dies of natural causes during the waiting period, New York Life will refund 110% of the premiums.

The permanent whole life policy has "simplified underwriting," meaning that while there is no exam, applicants must answer health questions to determine their eligibility. There is no waiting period for this policy, and it can be purchased with living benefits for a small additional cost. This allows the insured to receive up to 50% of the death benefit if they develop a chronic illness lasting 90 days or more.

The term life insurance policy lasts until the insured turns 80, at which point the policy terminates. While the policy is in force, the premium will rise every five years. There is no exam to qualify, but applicants must complete a health questionnaire.

AARP life insurance is generally more expensive than policies from other providers, and the death benefit is limited to $50,000 or less. As such, it is only useful for final expense coverage. Seniors with pre-existing conditions may find it challenging to qualify for immediate coverage with AARP, as the term and permanent life insurance policies seem to decline applicants with pre-existing medical conditions common among seniors.

AARP life insurance with no medical exam

AARP life insurance is underwritten by the New York Life Insurance Company, which offers term, permanent, and guaranteed acceptance life insurance plans. AARP members can choose from a range of coverage options, from $10,000 to $150,000 in term life insurance and up to $50,000 in permanent life insurance.

The good news is that AARP life insurance does not require a medical exam. Instead, it uses a process called simplified underwriting, where applicants only need to provide health information when applying. This means no doctor's visits, lab work, or extensive paperwork.

Advantages of No Medical Exam Life Insurance

Convenience

You can purchase AARP life insurance from the comfort of your own home without undergoing any medical tests or examinations.

Speed

The simplified underwriting process allows you to acquire protection faster than traditional policies with full medical underwriting.

Individual Needs

AARP's no-medical-exam life insurance can be tailored to your specific needs, whether you are seeking first-time coverage or looking to supplement existing insurance.

Eligibility and Availability

While AARP life insurance is available to members across the United States, the online application process may not be accessible in all states. Additionally, the age eligibility criteria for the insurance vary depending on the type of policy and the applicant's status as a member or their spouse/partner.

For example, the AARP Level Benefit Term Life Insurance is available to members aged 50-74 and their spouses/partners aged 45-74. In contrast, the AARP Permanent Life Insurance is offered to members aged 50-80 and their spouses/partners aged 45-80.

Applying for AARP Life Insurance

Applying for AARP life insurance without a medical exam is straightforward. You can easily apply online in minutes by providing health and other relevant information. Approval can be granted via email in a matter of minutes, and most applicants are accepted.

If you are not an AARP member, you can join and apply simultaneously. You can also contact the New York Life Customer Experience Team by phone to discuss your specific needs and explore higher coverage options.

Trust and Financial Strength

The New York Life Insurance Company has a long-standing reputation, with over 175 years of experience. It boasts the highest ratings for financial strength from leading independent rating services like A.M. Best, Fitch, Moody's Investors Service, and Standard & Poor's.

Additional Benefits

AARP life insurance is designed to help your loved ones with various expenses, including funeral costs, rent or mortgage payments, and unpaid bills.

AARP life insurance for those who can't get insured elsewhere

AARP life insurance, provided by New York Life, is a good option for seniors with pre-existing conditions who would have difficulty getting insured elsewhere. None of AARP's policies require a medical exam, only health and other information, so unless you have a serious medical condition, you may find cheaper rates for term and whole life insurance from other providers.

AARP's life insurance options include:

AARP Term Life Insurance

AARP members can apply for up to $150,000 of coverage to help with funeral costs, rent or mortgage payments, and unpaid bills. Coverage ends when you turn 80, and rates increase over time.

AARP Permanent Life Insurance

AARP members can apply for up to $50,000 in lifelong coverage with guaranteed rates that never increase. This insurance is available to members aged 50-80 and their spouses/partners aged 45-80.

AARP Guaranteed Acceptance Life Insurance

AARP members can enjoy guaranteed acceptance when applying for up to $25,000 in lifelong coverage, with rates that never increase. This plan has a two-year limited benefit period.

AARP Life Insurance Options

Custom life insurance options are available to both AARP members and non-members to help supplement retirement savings and protect your family.

While AARP life insurance may be a good option for those with health problems, it is important to note that rates are high compared to other providers, especially for healthy seniors. Additionally, the death benefit is limited to $50,000 or less, so it may not provide enough financial protection for your family.

AARP term life insurance

The application process is simple and can be done online in minutes. Applicants do not need to undergo a medical exam, but approval is based on health information and other details provided by the applicant. Most applicants are accepted.

In addition to term life insurance, AARP also offers permanent life insurance, guaranteed acceptance life insurance, and life insurance options to supplement retirement savings. These plans provide various benefits, such as whole life coverage, guaranteed rates, and customized plans.

For those seeking more than $150,000 in coverage, alternative options are available by contacting New York Life directly. Their customer experience team can provide guidance on higher coverage amounts and other insurance products.

AARP permanent life insurance

The insurance is available to AARP members aged 50-80 and their spouses/partners aged 45-80. Members can apply for an instant quote and can easily apply online or by phone. The rate of $13/month is for a female, age 50, non-smoker, for $5,000 of coverage.

In addition to permanent life insurance, AARP also offers term life insurance, guaranteed acceptance life insurance, and life insurance options to supplement retirement savings.

Frequently asked questions