Is AARP Life Insurance Legit? A Complete Review

As a participant in AARP, a nonprofit organization dedicated to supporting individuals aged 50 and above through a range of benefits and services.

One noteworthy offering is the AARP Life Insurance Program, which consists of policies underwritten by New York Life, a highly esteemed life insurance company in the United States.

Tailored to meet the specific needs of AARP members, this program presents a selection of options such as term life, permanent life, guaranteed acceptance life, and options plans.

If you’re wondering about the credibility of AARP life insurance and how it compares to alternative choices, or if you’re keen on understanding the advantages and disadvantages associated with choosing life insurance through AARP, this article aims to provide insights that will assist you in determining whether AARP life insurance aligns with your needs.

Is AARP Life Insurance Legit?
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How Much Is AARP Life Insurance a Month?

AARP life insurance expenses hinge on several factors, encompassing the policy type, desired coverage amount, age, and health status.

Typically, term life insurance is more budget-friendly compared to permanent life insurance. Opting for lower coverage amounts incurs lower costs than selecting higher coverage.

Younger and healthier individuals generally incur lower expenses than their older or less healthy counterparts. Additionally, choosing an annual payment frequency instead of monthly payments results in a more economical premium.

Let me give you some examples of the monthly premiums for AARP life insurance based on their website rates:

For AARP Term Life Insurance:

For a non-smoking 50-year-old male, $50,000 in coverage is available at $21.50 per month, while $100,000 in coverage can be obtained for $38.50 per month.

On the other hand, a non-smoking 70-year-old male would pay $144.50 per month for $50,000 in coverage or $283.50 per month for $100,000 in coverage.

For AARP Permanent Life Insurance:

For a non-smoking male at the age of 50, acquiring $10,000 in coverage comes at a monthly premium of $35.50, while opting for $20,000 in coverage would require a monthly payment of $69.00.

On the other hand, a 70-year-old non-smoking male would be charged $97.00 per month for $10,000 in coverage or $191.00 per month for $20,000 in coverage.

For AARP Guaranteed Acceptance Life Insurance:

For a non-smoker aged 50, obtaining $5,000 in coverage costs $23.50 monthly, while $10,000 in coverage is available for $45.00 per month.

In contrast, a 70-year-old non-smoker would incur monthly premiums of $64.00 for $5,000 coverage or $125.00 for $10,000 coverage.

For AARP Options Plans:

If you are a 50-year-old non-smoker, $10,000 coverage is $28.00 per month, or $20,000 coverage for $54.00 per month.
A 70-year-old non-smoker would pay $76.00 per month for $10,000 coverage or $149.00 per month for $20,000 coverage.

AARP Life Insurance Rates by Age

This shows the life insurance rates for nonsmokers

Age Range Term Life Permanent Life Guaranteed Acceptance Options Plans
50-54 $21.50 $35.50 $23.50 $28.00
55-59 $28.00 $44.00 $29.00 $35.00

AARP Life Insurance Reviews BBB

The AARP Life Insurance Program, backed by New York Life, has an A+ BBB rating, the highest available.

Despite this, there are 66 complaints and 10 reviews in the last three years, averaging a 1.2-star rating.

Issues include high premiums, low coverage, cancellation fees, claim denials, and poor customer service, with some feeling misled about benefits and services.

AARP Insurance

Is AARP Life Insurance Legit?
Image courtesy (Healthline)

AARP offers a range of insurance products and services. These include life, health, dental, vision, pet, home, auto, and travel insurance.

Different companies and partners collaborate with AARP to provide these offerings.

AARP members get discounted rates and exclusive benefits tailored for those aged 50 or older.

It’s crucial to understand that AARP insurance involves various entities working together, not a single company.

AARP Life Insurance Phone Number

If you need assistance with the AARP Life Insurance Program from New York Life, you can reach out to customer service through various channels.

The AARP life insurance phone number is (800) 850-2658., available Monday to Friday from 8 a.m. to 8 p.m. (ET).

You can also contact customer service via email at nylaarp.service@newyorkLife.com or by mail at New York Life Insurance Company, AARP Operations, 5505 West Cypress Street, Tampa, FL 33607.

For direct contact with AARP, call 1-888-687-2277 or visit their website at www.aarp.org.

AARP Whole Life Insurance

AARP whole life insurance, a component of the AARP Life Insurance Program by New York Life, is a type of permanent life insurance that ensures lifelong coverage with regular premium payments.

Additionally, this coverage incorporates a cash value element, acting as an expanding savings account that can be accessed through loans or withdrawals.

There are two choices available: AARP Permanent Life Insurance, which provides coverage up to $50,000 without necessitating a medical examination or premium hikes, and AARP Options Plans, which offer customizable plans to complement retirement savings.

The Options Plans, requiring a medical examination, present coverage of up to $100,000 and offer flexible premium payment options.

Read more: Is National General Health Insurance Legit?

AARP Life Insurance for Older People Over 60

AARP tailors various life insurance choices specifically for individuals aged 60 and older.

These options encompass AARP Term Life Insurance, AARP Permanent Life Insurance, AARP Guaranteed Acceptance Life Insurance, and AARP Options Plans.

Tailored for the well-being of older adults, these insurance plans ensure financial security and peace of mind.

AARP life insurance for individuals above 60 offers perks like waived medical exams, guaranteed acceptance, and exclusive benefits.

Nevertheless, it is important to be aware of potential downsides, such as elevated premiums and reduced coverage amounts.

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