Haris Ashley
AARP life insurance rates are determined by several factors, including the type of policy chosen (whole, term, or guaranteed acceptance), age, gender, and coverage amount. AARP life insurance is tailored for members aged 50 to 80 and offers coverage options without a medical exam, making it ideal for seniors with pre-existing conditions. However, rates can be high for healthy seniors, and alternative insurers may offer more affordable options. AARP term life insurance rates are based on five-year age brackets, with costs increasing over time as one enters a new bracket. Whole life insurance, on the other hand, has a fixed cost. AARP's guaranteed acceptance life insurance does not require a medical exam or health questions but has a maximum coverage of $25,000.
| Characteristics | Values |
|---|---|
| Type of Insurance | Term, Permanent, Guaranteed Acceptance |
| Provider | New York Life |
| Underwriting | No medical exam required, but a health questionnaire must be completed |
| Age Range | 50-80 |
| Spouse Age Range | 45-80 |
| Coverage Amount | $10,000 - $150,000 |
| Premium | Locked for life |
| Waiting Period | No waiting period for term or permanent life insurance; two-year waiting period for guaranteed acceptance |
| Death Benefit | Up to $25,000; limited benefits for the first two years |
| Cost | Starts as low as $11 per month and can be as high as $600 or $900 per month |
What You'll Learn
AARP Term Life Insurance
The AARP Term Life Insurance program does not require a medical exam, only health and other information. Most who apply are accepted, and approval can take just minutes via email. AARP Term Life Insurance can be used to help your loved ones with funeral costs, rent or mortgage payments, unpaid bills, and more.
The AARP Life Insurance Program is underwritten by New York Life Insurance Company, and AARP membership is required for eligibility. New York Life Insurance Company is licensed in all 50 states and has the highest ratings for financial strength from leading independent rating services.
AARP also offers permanent life insurance and guaranteed acceptance life insurance.
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AARP Permanent Life Insurance
AARP's permanent life insurance rates are fixed, meaning that whatever rate you pay initially is what you'll always pay. There is no waiting period if you qualify for AARP's whole life insurance. However, you will have to answer questions about your health to qualify (no medical exam is required).
The monthly cost of AARP's permanent life insurance depends on the type of policy (whole, term, or guaranteed acceptance), product, age, gender, state of residence, and health. Monthly prices can start as low as $11 or go as high as $600.
The licensed life insurance agent for AARP's permanent life insurance is D. N. Ogle (Arkansas #17009138, California #0L37586).
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AARP Guaranteed Acceptance Life Insurance
The application process for AARP Guaranteed Acceptance Life Insurance is straightforward and can be completed online in minutes. AARP membership is required for program eligibility, and the specific products and features may vary depending on the state or country of residence.
While AARP life insurance rates can vary based on age, gender, and coverage amount, the guaranteed acceptance policy ensures that rates will not increase over time. This policy is a whole life insurance policy, which means it has a fixed cost and permanent coverage.
In summary, AARP Guaranteed Acceptance Life Insurance offers a straightforward and reliable solution for those seeking life insurance coverage. With guaranteed acceptance, fixed rates, and lifetime protection, it provides peace of mind for policyholders and their loved ones.
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AARP Level Benefit Term Life Insurance
The insurance provides coverage of $10,000 up to $150,000 in group protection. Applicants can apply online or by mail, and approval can be received via email in minutes. The application requires no medical exam, only health and other information.
The monthly rate for this insurance starts at $11 for a female, aged 50, for $10,000 of coverage. This rate also applies to non-smokers. The rate increases as the applicant enters a new age bracket. For example, a 54-year-old will pay the same rate as someone who is 50, but once they turn 55 and enter the 55-59 age bracket, the premium will increase.
The insurance can be kept until the age of 80, provided that premiums are paid on time and there are no material misrepresentations about the policyholder's medical history on the Enrollment Form. After the insurance ends at 80, or any time before that, the policy can be exchanged for AARP Permanent Life Insurance without any medical tests or health questions. The rates for this new insurance will be based on the policyholder's age at the time of exchange.
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AARP Life Insurance Options
AARP life insurance rates vary depending on the product you choose (whole, term, or guaranteed acceptance), your age, gender, and the coverage amount. Monthly prices can be as low as $11 or as high as $600. AARP term life insurance rates are based on five-year age brackets, with the first bracket being 50-54. As AARP's term insurance rates increase over time, your price will rise as you enter a new bracket.
AARP also offers whole life insurance, which has a fixed cost that does not change throughout the duration of the policy. There is no waiting period for this type of insurance, but applicants must answer questions about their health to qualify.
AARP's guaranteed acceptance life insurance does not require applicants to answer health questions or undergo a medical exam. However, there is a two-year waiting period for this type of policy. If the insured person dies during the waiting period, AARP will refund 110% of the money paid.
The AARP Life Insurance Program is underwritten by New York Life Insurance Company and is available exclusively to AARP members aged 50 and older. The program offers term, whole, and guaranteed life insurance without a medical exam, and coverage is available in all 50 states and Washington, D.C.
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Frequently asked questions
AARP life insurance rates vary based on the type of product (whole, term, or guaranteed acceptance), the amount of coverage, the policyholder's age, gender, state of residence, and health.
AARP life insurance can cost as little as $11 per month or as much as $900 per month, depending on the specific factors mentioned above.
The maximum coverage amount for AARP term life insurance is $100,000 or $150,000, depending on the source.
Only the AARP guaranteed acceptance policy has a two-year waiting period. There is no waiting period for the term life or permanent whole life products.
AARP life insurance is available to AARP members between the ages of 50 and 80, and their spouses/partners between the ages of 45 and 80.
