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AARP life insurance review 2021

50 to 80

Issue Age

$10,000 to $100,000

Coverage

No

Medical Exam Required

Details

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

Pros

  • Premiums start at $11 for guaranteed acceptance or level benefit term life
  • No waiting period with whole or level benefit term life
  • 30-day moneyback guarantee

Cons

  • Guaranteed acceptance isn’t available in New Jersey and Washington, and accelerated benefits aren’t available in Massachusetts and Washington
  • Guaranteed acceptance won’t pay the entire death benefit until the two-year waiting period ends
  • Online applications aren’t available in all states and you may have to apply by mail
Riders No info available

Review by


Rhys Subitch is the loans editor at Finder, guiding Americans toward smart borrowing decisions. With over 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 in the lending sphere. They make frequent appearances on Finder's YouTube channel to talk through loan topics that range from the very basics to the latest government assistance programs. Before specializing in lending, Rhys was a personal finance writer for Finder’s credit cards, insurance, banking and mortgage verticals. They hold a BA in sociology and a certificate in editing from the University of Washington, Seattle.

Expert review

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.

This article was reviewed by Andrew Flueckiger, a member of the Finder Editorial Review Board and certified insurance counselor and licensed insurance agent in five states.

AARP life insurance rates

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.

AgeManWoman
50-54$74$52
55-59$109$80
60-64$159$125
65-69$212$175
70-74$306$266

What affects my rate with AARP life insurance?

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:

  • Health history. A family medical history with certain conditions could cause a higher premium.
  • Substance abuse. People who have experienced alcohol or drug abuse within five years may see higher rates.
  • Tobacco use. Tobacco or nicotine use in the past 12 months may affect your rates.
  • Health. You may see higher rates if you’re diagnosed with cancer, stroke, diabetes, kidney, liver or heart disease, HIV, AIDS or asthma in the past five years.
  • Driving record. People with DWIs or DUIs on their driving record typically see higher rates.

How to get a quote from AARP life insurance

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.

  1. To begin, click Get A Quote.
  2. Then select the type of policy you’d like to apply for: term, permanent or guaranteed acceptance.
  3. Provide some personal info, your desired coverage amount and contact info. Then click Get instant quote and apply.
  4. If you are not an AARP member, you’ll need to call AARP at 866-238-6135 to get more information regarding a membership.

What types of life insurance does AARP offer?

AARP offers a mix of term and whole life insurance, and none of the policies require a medical exam.

PlanCoverageMedical examWaiting periodRate increaseCoverage max lengthMonthly costDisclaimers
Child policy$10,000– $20,000NoneTwo yearsRates may increaseFor life$5–$10Child owns the policy at age 21
Guaranteed acceptance whole life$2,500–$25,000NoneTwo yearsNoFor life$11–$227Premiums end at age 95
Term life$10,000–$100,000NoneNoneYes, based on fixed 5-year age bandsAge 80$11–$306Guaranteed ability to convert to permanent life insurance at age 80
Whole life$5,000– $50,000NoneNoneNoFor life$15–$522Premiums end at age 95

Does AARP offer burial insurance?

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.

What riders can I add to my AARP life insurance policy?

AARP offers fewer riders than you might find with other companies, though helpful ones. Riders to consider adding:

  • Accelerated death benefit rider. Also known as living benefits, this add-on offers an early release of death benefits if the policyholder is diagnosed with a terminal illness.
  • Child rider. The Young Start plan covers children younger than 18 years old and isn’t included with the other AARP programs.
  • Waiver-of-premium rider. This add-on waives premiums while maintaining coverage if you can’t make payments due to a temporary illness, injury or disability.

AARP life insurance reviews and complaints

AARP isn’t accredited with the Better Business Bureau (BBB), but it has a high rating for the way it interacts with customers. Complaints on the BBB mostly had to do with AARP’s other services — though there were some comments about delayed claims payments. Over at trust pilot, reviews rate AARP middle of the road, citing a hard-to-navigate website.

AM Best financial rating A++
BBB accredited No
BBB rating A+
1.25/5 out of 56 customer reviews
Trustpilot score 2.6/5 out of 9 customer reviews
Customer reviews verified as of 30 June 2021

The underwriter, New York Life, has an A- rating with the BBB, and customers have awarded it 1.67 out of 5 stars. There have been 92 complaints filed against the business in the past three years, which is relatively low for an insurance company.

How AARP life insurance compares to other insurers

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.

Get quotes from other life insurance companies like AARP

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.

Name Product Issue age Minimum Coverage Maximum Coverage Term Lengths Medical Exam Required
Policygenius
18 - 85 years old
$50,000
$10,000,000
10, 15, 20, 25, 30 years
Depends on provider and policy
Compare 12+ top insurers side-by-side to get the best possible deal, and shop return of premium policies online.
Bestow
18 - 60 years old
$50,000
$1,500,000
10, 15, 20, 25, 30 years
No
Get a quote in less than 10 minutes with on-the-spot approval and no medical exam.
Everyday Life
20 - 75 years old
$100,000
$10,000,000
10, 15, 20, 25, 30, 35 and 40 years.
No
Ladder multiple life insurance policies to save on the coverage you need for all your debts.
Ladder
20 - 60 years old
$100,000
$8,000,000
10, 15, 20, 25 or 30 years
No, for coverage up to $3M
Apply for term life insurance online without the medical exam. Get an instant decision and adjust your coverage at no charge.
JRC Life Insurance
18 - 85 years old
$5,000
$50,000,000
10, 15, 20, 25, 30, 35, 40 years to lifetime/age 121
May be required
Compare policies up to $10 million from 45+ top insurance companies with the click of a button.
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Compare up to 4 providers

Life insurance ratings

★★★★★ — 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.

Learn more about our methodology here.

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4 Comments

    Default Gravatar
    Elizabeth
    July 17, 2019

    If I cancel my term insurance with AARP will get a refund from the payments I have made over the years?

      Avatarfinder Customer Care
      Jhez
      July 18, 2019

      Hi Elizabeth,

      Thank you for your comment.

      If you have purchased a term life insurance policy with a return of premium, you can receive a refund for your premiums. This type of policy is just what the name suggests: when the term of the policy is up, your insurance provider will return your premiums to you.

      Best to contact AARP directly, so they can provide you the necessary details in regard to cancellation of your policy.

      Regards,
      Jhezelyn

    Default Gravatar
    Marie
    October 10, 2018

    I have a policy with New York life through AARP. I quit my subscription with AARP. Does that mean that in the event of my expiring, New York Life will not honor the policy?

      Avatarfinder Customer Care
      Charisse
      October 13, 2018

      Hi Marie,

      Thanks for reaching out to finder.

      When you request for your AARP membership to be cancelled, they will also notify their member benefit providers such as New York Life, that the account has been canceled. Though they did not mention that your New York Life insurance policy will be automatically cancelled the moment you stop your AARP membership, it says on their website that AARP membership is required for program eligibility.

      It’s better for you to contact New York Life directly and inform them that you have cancelled your AARP membership so they can advise you on matters concerning your life insurance policy.

      I hope this helps.

      Cheers,
      Charisse

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