
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
&
finder.com's rating: 3.5 / 5 ★★★★★
Bottom line: AARP offers no-exam guaranteed acceptance plans for seniors or people with pre-existing conditions, though coverage amounts may be limited.
50 to 80
Issue Age
$10,000 to $100,000
Coverage
No
Medical Exam Required
Policies | Term, Permanent, Guaranteed Acceptance |
---|---|
Coverage maximum | $100,000 |
Term lengths | 5 year banded terms |
Medical exam required | No |
Available states | All 50 states |
Issue age | Not listed |
Riders |
Accelerated death benefit rider Child rider Waiver-of-premium rider |
---|
Review by
Rhys Subitch is a writer and editor at Finder who tackles topics across the site. With half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info on all things finance.
AARP offers life insurance policies through New York Life that don’t require a medical exam. It provides low-cost options ideal for budget buyers, those wanting supplemental coverage or those who may be denied a standard policy.
However, AARP offers maximum coverage at $100,000, relatively low for the price you pay. Low coverage is typical for no-exam policies anywhere.
If you’re willing to take an exam, you could pay a lower price for higher coverage with another company. But if you need to bypass the exam, consider one of AARP’s policies.
AARP offers rates for people at least 50 years old averaging $156 per month for $100,000 in coverage, depending on factors like your age and health. Premiums increase over time in 5-year age brackets up to age 80.
Age | Man | Woman |
---|---|---|
50-54 | $74 | $52 |
55-59 | $109 | $80 |
60-64 | $159 | $125 |
65-69 | $212 | $175 |
70-74 | $306 | $266 |
AARP’s life insurance plans through New York Life don’t offer details about their rating tiers online. This isn’t unusual for a life insurer, but it shows less transparency than companies with this information.
Some factors lead to high rates with other companies:
You can contact AARP by phone at 888-687-2277. Otherwise, if you’re an AARP member, you can get a quote and sign up for life insurance online.
AARP offers term life insurance with lower starting rates that increase over time and don’t build cash value, a less common feature for this type of policy. Most term life policies offer level premiums.
AARP also offers whole life policies for lifelong protection with cash value building at higher initial rates, though higher rates aren’t unusual for this policy.
The company specializes in four no-exam policies, an unusual specialty for a life insurer:
Plan | Coverage | Medical exam | Waiting period | Rate increase | Coverage max length | Monthly cost | Disclaimers |
---|---|---|---|---|---|---|---|
Child policy | $10,000– $20,000 | None | Two years | Rates may increase | For life | $5–$10 | Child owns the policy at age 21 |
Guaranteed acceptance whole life | $2,500–$25,000 | None | Two years | No | For life | $11–$227 | Premiums end at age 95 |
Term life | $10,000–$100,000 | None | None | Yes, based on fixed 5-year age bands | Age 80 | $11–$306 | Guaranteed ability to convert to permanent life insurance at age 80 |
Whole life | $5,000– $50,000 | None | None | No | For life | $15–$522 | Premiums end at age 95 |
Yes. AARP’s guaranteed acceptance policy is marketed as burial insurance for seniors ages 50 to 80, and it doesn’t require a health questionnaire or exam.
However, you’ll pay AARP membership fees, an added expense that other insurers don’t require.
Like most final expense policies, the coverage is capped at $25,000. AARP’s burial insurance policy is available in all states except New Jersey and Washington.
AARP offers fewer riders than you might find with other companies, though helpful ones. Riders to consider adding:
AARP holds high BBB ratings based on how the business interacts with customers, which signals good customer support. Among many reviews online, customers seem happy with AARP’s customer service when asking policy questions. Some customers wish that AARP’s rates were cheaper compared to other brands.
But like other companies, you’ll find negative comments on delayed claims payments. Customers also warn about the guaranteed approval policy’s waiting period: If you die within the first two years insured, AARP pays only some of the death benefit.
AM Best financial rating |
A++ |
BBB accredited | No |
BBB rating | A+ 2/5 out of 5 customer reviews |
Customer reviews verified as of | 18 January 2021 |
AARP’s policies stand out in that none require you to take a medical exam, catering to people who don’t qualify for standard policies with exams. It’s unusual to see an insurer with only no-exam policies in its lineup.
However, its guaranteed-issue policy only pays part of the death benefit if you die within two years of starting your policy. The waiting period is common for this policy, but you can find insurers that get rid of it.
That said, these policies are issued through New York Life Insurance, a reputable brand with high customer and financial ratings above other life insurers. New York Life gets high marks from rating sites like AM Best, the Better Business Bureau, J.D. Power and Trustpilot.
See how AARP policies stack up against others in the market. Check the Compare box to see up to four companies side by side, then get quotes from your top picks.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Our experts analyze life insurance companies to help you to find the strongest possible policy and premium for your family’s needs. We assess their financial strength, customer satisfaction, policy features and riders. We then give each insurer a score between one and five stars that reflects their offering and reputation in the industry. AARP receives a three and a half out of five stars for limited policy customization options compared to its competitors.