Affordable Life USA has provided affordable life insurance for seniors for over 25 years. We are frequently asked, how do your premiums compare to AARP life insurance rates?
If you are looking for senior life insurance or need life insurance for parents, we are providing comprehensive AARP life insurance review to help you with your search. In our AARP life insurance review, we will evaluate each of their plans compared to purchasing individual coverage.
Many people are surprised to learn that the popular organization called AARP is only a marketing organization and not a life insurance company. In fact, the organization was originally set up by a life insurance agent as a strategic way to market life insurance to seniors.
AARP is a large organization boasting over 38 million members ages 50 and over. They opened for business in 1958 and now have offices in all 50 states. In order to qualify for the AARP life insurance program you must also be an active member.
AARP New York Life Insurance Plans
If you get a AARP life insurance quote, the policy is actually being underwritten by New York Life. The AARP life insurance rates are based on group rates offered by the New York Life group division. The AARP New York Life insurance rates will be significantly higher compared to the policies which are sold by New York Life agents in the open market.
The coverage offered by AARP New York Life insurance include both term and permanent life insurance. Both plans utilize simplified underwriting, which means New York Life insurance reviews only a few medical questions and you do not have to undergo a medical exam to qualify for coverage. There is also whole life insurance for which you cannot be turned down.
The AARP life insurance rates will vary depending on which plan you select. We will highlight the key features and provide sample rates for each of the three plans:
- AARP Level Benefit Term Life
- AARP Permanent Life
- AARP Guaranteed Acceptance Life.
AARP Term Life Insurance
- The official name of the term plan is AARP Level Benefit Term Life
- With AARP term life no medical exam is required
- Your acceptance is based on several general health questions
- AARP term life insurance is expensive
- The AARP life insurance payments will go up in cost every 5 years
- The maximum coverage amount is $100,000
- The policy can begin at ages 50- 75
- The AARP death benefits will remain the same but, coverage will expire at age 80
AARP Term Life Insurance Rate Chart, Monthly Rates
AARP Whole Life Insurance
- With AARP whole life insurance no medical exam is required
- Your acceptance is based on several general health question
- AARP whole life insurance is very expensive
- The maximum coverage amount is $50,000
- The policy can begin at ages 50-80
- The AARP life insurance payments will stay level and end at age 95
- The AARP death benefits will always remain the same
- Good plan for people in average health
AARP Whole Life Insurance, Monthly Rates
AARP Guaranteed Acceptance Life
- You can qualify for AARP guaranteed acceptance life insurance with no medical exam or health questions asked
- This AARP New York life insurance policy is also very expensive
- The maximum coverage is only $15,000
- The AARP life insurance payments will remain level and end at 95
- Graded death benefit which limits payouts during first 2 policy years
- The AARP death benefits will always remain the same
- Ideal if you need life insurance for parents in poor health to cover final expenses
AARP Guaranteed Acceptance Life, Annual Rates
|Men age 50||$142||$273||$533||$794|
|Women age 50||$121||$229||$446||$664|
How do AARP Life Insurance Rates Compare?
Before you consider buying through the AARP life insurance program, we strongly suggest you do take the time to do some comparison shopping!
If you are a senior looking for life insurance the most important factor to consider is your health when applying for coverage.
If you are in average health or better, it is always going to be much cheaper to obtain coverage with a policy in the open market.
Some of our policies will require a brief medical examination in order to qualify for coverage, but offer a substantial cost savings in return for you good health.
First, you will need to obtain either term or permanent AARP Life insurance quotes by either using the AARP life insurance login on their website, or by calling the AARP life insurance phone number.
Term Life Insurance
The most affordable type of life insurance policy is called term insurance. This coverage is often used to protect your income or pay off the mortgage if you die during a specific time period.
It is also very important to have premium which fits your budget over the future life of your policy. Keep in mind, the AARP term life insurance plan goes up in cost every 5 years, and becomes extremely expensive after only a few years.
If you look at the AARP term life insurance rate chart you can clearly see that the rates for coverage are expensive.
Our individual term plans from companies like Banner Life Insurance offer guaranteed level premiums for 10, 20 or even 30 years.
Not to mention, you can also select a larger death benefit with the ability to convert your term coverage to permanent life insurance in the future.
This can make it difficult to obtain a true “apples to apples” comparison between AARP life insurance quotes versus our individual life insurance prices.
Just remember, our insurance companies allow you to lock in your premiums for longer period of time, and are are still much cheaper then AARP life insurance for seniors.
If you feel you need life insurance or even need life insurance for parents, also consider reading another informative article about term life insurance for seniors.
It used to be that buying life insurance for seniors was next to impossible, and now getting a policy issued is not that difficult or expensive.
Permanent Life Insurance
If you are only looking for a small permanent policy to pay final expenses, there are also much cheaper alternatives to the AARP whole life insurance as well.
Most individual universal life insurance polices start at $25,000 of death benefit, and can be tailored to your needs and budget. Universal life insurance is low cost permanent cash value life insurance policy with guaranteed premiums and death benefits which last for your entire lifetime.
As you can tell from our AARP life insurance review, we can offer more affordable life insurance coverage to seniors. Before making any final decisions, you may also want to read two additional AARP insurance reviews, from CBS News and Consumer Affairs.
To learn how AARP life insurance rates compare to our quality companies use Instant Life Insurance Quotes . This is a hassle free method for seniors to compare term and permanent life insurance quotes from many highly rated life companies.
If you need help determining the best option for your family, please do not hesitate to call us at 1-877-249-1358.