Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Mar 30, 2021

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The Facts of Life

  • AARP offers term life insurance without requiring a medical exam
  • The company also offers whole life policies with guaranteed acceptance for all applicants aside from those who are terminally ill
  • Policies are limited to AARP members and their spouses
  • Individuals under 50 should not consider AARP for coverage

Many people consider the benefits of life insurance as they get older. People who get married and raise families are often prompted to consider life insurance to care for their family members after they are gone.

Similarly, many seniors consider the necessity of life insurance as they age. The older they get, the more they think about how they can provide for those they love the most.

AARP (New York Life) offers several different life insurance policies to help older individuals as they consider what their families need and what they can do now to provide for them.

Because all AARP life insurance policies are underwritten by New York Life, many people feel comfortable considering them for their life insurance needs.

Before you buy AARP (New York Life) life insurance, enter your ZIP code above to find your area’s best life insurance options.

What does AARP stand for?

AARP (formerly known as the American Association of Retired Persons) is a United States-based interest group that focuses solely on the issues and topics that affect individuals over the age of 50.

Founded in 1958, the company had over 38 million members in 2018.

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What is AARP?

AARP offers health insurance and medical resources, caregiving guidance and financial planning, gas and auto services, and much more to its members and their families.

One additional product AARP offers is life insurance. Through New York Life, AARP offers different policies for life insurance based on an individual’s needs.

AARP (New York Life) offers life insurance in both term and whole life policies. Each choice varies in terms of cost and benefits.

AARP Term Life Insurance

AARP members ages 50 to 74 and their spouses (age 45-74) can apply for term life policies. Coverage for these policies typically lasts until the insured’s 80th birthday.

While the death benefit for AARP’s term life policies remains the same for the duration of the term, the annual price increases each time the insured person enters a new five-year age group.

Policy prices are not guaranteed, so applicants are not able to know precisely how much they will pay for insurance in a later age group.

Policyholders have the option of converting term life policies to permanent policies prior to turning 80. Rates for permanent coverage are based on age.

AARP (New York Life) term life offers coverage amounts from $10,000 to $100,000. Applicants answer a series of health questions and provide other health information. A medical exam is not required.

AARP Whole Life Insurance

AARP members age 50-80 and their spouses can apply for whole life insurance with AARP.

Annual costs for whole life coverage do not change, and coverage lasts throughout your life. AARP offers up to $50,000 of coverage and is based on an online application. Qualifying applicants must answer a series of health questions.

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What is AARP’s guaranteed acceptance policy?

With AARP, members are able to apply for whole life insurance and are guaranteed coverage unless they have a terminal disease.

While only a portion of the death benefit is typically paid if a policyholder dies of natural causes in the first two years of the policy, the full benefit is paid in the case of accidental death.

A guaranteed acceptance whole life policy with AARP can offer up to $25,000 in benefits.

AARP Child Whole Life Insurance

With AARP, members can purchase whole life policies for children and grandchildren from birth to 17 years of age.

Coverage for this policy is up to $20,000 and the child’s parent or guardian is typically the beneficiary. The child becomes the policy owner at age 21 and can select a beneficiary at that time.

What are AARP life insurance rates?

As with virtually all insurance companies, AARP’s individual rates vary based on a number of factors. AARP does not offer policies to anyone younger than 50.

Additionally, AARP increases policy rates in five-year age brackets. This means that if you purchase a term life insurance policy with AARP at 50, your rates will automatically increase when you turn 55 and enter a new age bracket.

While policyholders are informed their rates will increase, they are not told how much their rates will officially be until they enter the new age bracket.

Average Monthly Senior Term Life Insurance Rates For Men Over 60
Age of Insured MenAverage Monthly Life Insurance Rates for a $50,000 PolicyAverage Monthly Life Insurance Rates for a $100,000 PolicyAverage Monthly Life Insurance Rates for a $250,000 Policy
60-Year-Old$23.23$28.39$60.16
61-Year-Old$24.70$32.64$65.19
62-Year-Old$26.47$36.84$72.41
63-Year-Old$28.66$38.68$80.94
64-Year-Old$31.35$40.51$91.00
65-Year-Old$34.68$42.35$96.69
66-Year-Old$36.58$54.34$116.38
67-Year-Old$38.85$63.79$129.06
68-Year-Old$40.85$69.21$144.38
69-Year-Old$43.15$73.41$158.34
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As you can see in the table above, a typical monthly life insurance premium for men ages 60-69 can cost anywhere from $23-$170. AARP’s rates are among the highest with people in the 60-64 age bracket, with a $100,000 policy paying around $78 per month.

If you are looking for affordable AARP (New York Life) life insurance rates, you may be disappointed with the options you receive.

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AARP (New York Life) Customer Complaints and Satisfaction

The National Association of Insurance Commissioners (NAIC) collects complaints about insurance companies and releases complaint ratios. The ratios are based on the number of complaints received relative to the company’s size.

In 2019, the NAIC quoted New York Life’s complaint ratio at 0.40, which is well below the industry national complaint index of 1.0.

Additionally, A.M. Best ranks New York Life as A++ or superior with regard to financial strength.

AARP offers its life insurance policies through New York Life. It is clear based on reviews from both the NAIC and A.M. Best that New York Life is a company you can trust.

Is AARP a good choice?

When considering life insurance, there are many factors you must think through. AARP is an example of a well-respected company that simply will not work for everyone.

If you are younger than 50, AARP will not cover you with a life insurance policy. Anyone who wants to purchase life insurance through AARP must also be an existing member or married to one.

While AARP (New York Life) is a good choice for someone who is searching for senior life insurance and does not want to participate in a medical exam, other potential policyholders should consider looking at coverage options with other companies before committing.

Whether or not you’re considering AARP’s New York Life policies for your needs, you should shop around. If you are searching for senior life insurance coverage, use our free tool below to find options that work for you.