How to Get Out of Your AARP (New York Life) Life Insurance Policy [Right Way]
If you're wondering how to cancel AARP (New York Life) life insurance, you'll need to go online to manage your account or call the AARP life insurance customer service line to cancel. AARP life insurance policies are underwritten by New York Life, so while canceling your AARP membership will cancel your policy, you may still want to receive other AARP membership benefits. Since AARP life insurance policies are whole life insurance policies, you can cash out at any time.
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UPDATED: Jul 22, 2021
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- AARP life insurance policies are underwritten by New York Life
- You can call the AARP life insurance customer service number or go online to cancel your account
- AARP life insurance policies are whole life policies, so you can cash out at any time
Many older Americans have life insurance policies through AARP. These policies are underwritten by New York Life. However, if you’re no longer interested in AARP’s life insurance, you may be wondering how to cancel AARP (New York Life).
AARP’s life insurance policies are whole life insurance policies, meaning they last for your entire life. However, some people may want to cancel their life insurance policies early and withdraw the cash value so they can use it while they’re still alive.
Keep reading below to learn how you can cancel your AARP life insurance policy, how you can cash out on your AARP life insurance, and what AARP is. But before you do, enter your ZIP code into our free comparison tool above to find affordable life insurance near you.
How do I cancel my AARP life insurance policy?
If you’re an AARP member and are enrolled in AARP’s life insurance policy, you may be wondering, how do I cancel my AARP life insurance policy?
Well, you have a few options to cancel your AARP life insurance. First, you can cancel your AARP membership by calling 800-514-4565. This will automatically cancel your AARP life insurance policy, but it could cause some problems.
Since AARP life insurance is underwritten by New York Life, it’s better that you call New York Life directly if you want to cancel your life insurance policy. You can call the AARP life insurance customer service number at 800-607-6957 to deal with New York Life directly.
This is a good option if you want to keep your AARP membership but cancel your life insurance policy. If you want to switch life insurance companies, compare life insurance quotes from different companies to find the best deal.
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Can I cash out my AARP life insurance?
Another question people may have is, “can I cash out my AARP life insurance?” This is another you may wish to know how to cancel AARP (New York Life) life insurance.
Fortunately, AARP’s life insurance policies are whole life insurance policies. This means they last for as long as you live unless you cancel them. And unlike term life insurance policies, whole life insurance policies build up a cash value over time.
This cash value is made up of a portion of your paid premiums as well as any interest that has accumulated over time. If you cancel your whole life insurance policy early, you get back your cash value plus interest.
You can cash out your AARP life insurance policy at any time. You don’t even have to cancel it. Simply take some money out and leave the rest for later. However, according to the Internal Revenue Service, any interest that you receive will be subject to tax.
If you do still wish to cancel your AARP life insurance policy, we recommend finding a new policy right away. We recommend comparing life insurance rates from at least three different companies to find the most affordable deal.
What is AARP?
AARP or the American Association of Retired Persons is a nonprofit organization that focuses on issues concerning people over the age of 50.
Members must pay an annual membership fee, but have access to a variety of discounts and benefits as part of their membership. AARP works with other companies and organizations to offer insurance discounts, among other things, to members.
The goal of AARP is to improve the livelihood and well-being of older Americans. While their life insurance policies are very popular, you should compare life insurance companies to find the one that’s right for your needs.
Now that you know how to cancel AARP (New York Life), start shopping today. Enter your ZIP code into our free comparison tool below to buy life insurance from providers in your area.