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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 $150,000
Coverage
No
Medical Exam Required
Policies | Term, Permanent, Guaranteed Acceptance |
---|---|
Coverage maximum | $150,000 |
Term lengths | 5 year banded terms |
Medical exam required | No |
Available states | All 50 states |
Issue age | Not listed |
Riders |
Array |
---|
Review by
Rhys Subitch is a personal finance editor at Bankrate and former loans editor at Finder, specializing in consumer and business lending. Rhys has nearly a decade of experience researching, editing, and writing for startups, Fortune 500 companies, universities and websites. They hold a BA in sociology and a certificate of editing from the University of Washington.
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 $150,000, 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 is not currently available on Finder
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Apply for term life insurance online without the medical exam. Get an instant decision and adjust your coverage at no charge.
We pulled 2023 sample rates using AARP’s online quote tool for healthy men and women 50 years and up. AARP only offers coverage for people at least 50 years old. Costs average $160 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 75.
Average monthly rates for women
50-54 | 55-59 | 60-64 | 65-69 | 70-74 | |
---|---|---|---|---|---|
$10,000 | $11 | $13 | $17 | $21 | $33 |
$25,000 | $18 | $22 | $32 | $44 | $74 |
$50,000 | $29 | $38 | $58 | $81 | $141 |
$100,000 | $52 | $69 | $108 | $154 | $272 |
$150,000 | $71 | $94 | $148 | $213 | $377 |
Rates accurate as of June 2023.
Average monthly rates for men
50-54 | 55-59 | 60-64 | 65-69 | 70-74 | |
---|---|---|---|---|---|
$10,000 | $14 | $18 | $24 | $31 | $42 |
$25,000 | $26 | $36 | $50 | $67 | $95 |
$50,000 | $45 | $65 | $94 | $128 | $184 |
$100,000 | $79 | $116 | $171 | $236 | $342 |
$150,000 | $107 | $157 | $233 | $323 | $469 |
Rates accurate as of June 2023.
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.
If you are not an AARP member, you’ll need to call AARP at 866-654-5572 to get more information about joining.
AARP offers three types of life insurance. You’ll only answer health questions instead of taking a medical exam to get approved for coverage. Plus, you’ll have the option to opt for a guaranteed acceptance whole life policy that forgoes both the health questionnaire and medical exam.
Plan | Coverage | Medical exam | Waiting period | Rate increase | Coverage max length | Monthly cost | Disclaimers |
---|---|---|---|---|---|---|---|
Level Benefit Term Life | $10,000–$150,000 | None | None | Lower initial rates that increase over time. | Age 80 | $11–$469 | Coverage limited to $100,000 for NY residents. |
Permanent Life | Up to $50,000 | None | None | No | For life | $14–$551 | None. |
Guaranteed acceptance whole life | Up to $25,000 | None | Two years | No | For life | $23–$349 | New customers only. Full coverage may be unavailable if you’re already insured with the program. |
While AARP’s term life policies expire at 80, it allows members to convert their term life policy to a permanent group life policy anytime before their 81st birthday.
You won’t have to take a medical exam or answer any health questions to get coverage. However, your rates are based on your age at the time you convert.
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 to help customize your policy than you might find with other companies, though helpful ones. Riders to consider adding:
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 Trustpilot, reviews skew negative, citing spam, a hard-to-navigate website and being charged after canceling a membership.
AM Best financial rating |
A++ |
BBB accredited | No |
BBB rating | A+ 1.21/5 out of 107 customer reviews |
Trustpilot score | 1.4/5 out of 48 customer reviews |
Customer reviews verified as of | 18 June 2023 |
The underwriter, New York Life, has a B- rating with the BBB, and customers have awarded it 1.15 out of 5 stars. There have been 212 complaints filed against the business in the past three years.
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.
See how AARP policies stack up against others in the market. Explore other life insurance companies’ perks and benefits, and select view rates to get a quote.
★★★★★ — 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.
AARP is not currently available on Finder
Have you considered Ladder?
Apply for term life insurance online without the medical exam. Get an instant decision and adjust your coverage at no charge.
4 Comments
July 17, 2019
If I cancel my term insurance with AARP will get a refund from the payments I have made over the years?
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
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?
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