AARP Life Insurance Rates: Everything you Need to Know

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If you are looking for life insurance, you may have heard about AARP life insurance rates. AARP is a nonprofit organization that offers many benefits to seniors. If you are over 50 years old, you can become a member of AARP and get access to their life insurance policies. In this article, we will discuss everything you need to know about AARP life insurance rates.

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What is AARP?

AARP, formerly known as the American Association of Retired Persons, is a nonprofit organization that provides discounts, resources, and benefits to seniors. It was founded in 1958 and has over 38 million members. One of the benefits of being an AARP member is access to AARP life insurance rates.

What are the Benefits of AARP Membership?

AARP membership comes with many benefits. Some of the benefits include:

Benefits
Description
Discounts
AARP members can get discounts on travel, dining, entertainment, and more.
Resources
AARP provides resources on health, finances, and caregiving.
Advocacy
AARP advocates for policies that benefit seniors.
Life Insurance
AARP members can get access to AARP life insurance rates.

What is AARP Life Insurance?

AARP life insurance is a type of life insurance that is offered to AARP members. AARP partners with New York Life Insurance Company to provide life insurance policies to members. The policies are underwritten by New York Life Insurance Company.

What Types of Life Insurance Does AARP Offer?

AARP offers two types of life insurance: term life insurance and permanent life insurance.

Term Life Insurance

Term life insurance is a type of life insurance that provides coverage for a specific period of time, usually 10, 20, or 30 years. If the policyholder dies within the term of the policy, the death benefit is paid out to the beneficiaries.

Permanent Life Insurance

Permanent life insurance is a type of life insurance that provides coverage for the entire life of the policyholder. There are two types of permanent life insurance policies offered by AARP: whole life insurance and universal life insurance.

Whole Life Insurance

Whole life insurance is a type of permanent life insurance that provides coverage for the entire life of the policyholder. The premiums are usually higher than term life insurance, but the policy has a cash value that can be borrowed against.

Universal Life Insurance

Universal life insurance is a type of permanent life insurance that provides coverage for the entire life of the policyholder. The premiums are usually lower than whole life insurance, but the policy has a cash value that can be invested.

What are AARP Life Insurance Rates?

AARP life insurance rates are the premiums that AARP members pay for their life insurance policies. The rates depend on several factors, including the type of policy, the amount of coverage, the age and health of the policyholder, and the state where the policy is issued.

AARP Term Life Insurance Rates

The following table shows AARP term life insurance rates for non-smokers:

Age
Policy Amount
10-Year Term
20-Year Term
30-Year Term
50-54
$100,000
$13.53
$18.25
$28.50
55-59
$100,000
$18.36
$26.33
$42.00
60-64
$100,000
$25.60
$39.93
$64.00

AARP Permanent Life Insurance Rates

The following table shows AARP permanent life insurance rates for non-smokers:

Age
Policy Amount
Whole Life Insurance
Universal Life Insurance
50-54
$10,000
$41.63
$26.75
55-59
$10,000
$49.41
$33.08
60-64
$10,000
$60.25
$43.75

FAQ

Is AARP Life Insurance a Good Deal?

Whether or not AARP life insurance is a good deal depends on your individual circumstances. It is a good option for seniors who are looking for life insurance and are already AARP members. However, it may not be the best option for everyone. It is important to compare rates and policies from different insurance providers before making a decision.

What is the Maximum Coverage for AARP Life Insurance?

The maximum coverage for AARP life insurance is $100,000 for term life insurance and $50,000 for permanent life insurance.

Can I Cancel my AARP Life Insurance Policy?

Yes, you can cancel your AARP life insurance policy at any time. However, if you cancel your policy, you may not get your premiums back.

How Can I Apply for AARP Life Insurance?

You can apply for AARP life insurance online or by calling the AARP life insurance program at 1-888-687-2277.

Is AARP Life Insurance Available in all States?

AARP life insurance is not available in all states. The availability of AARP life insurance depends on the state where you live. You can check the availability of AARP life insurance in your state by visiting the AARP website.

What is the Age Limit for AARP Life Insurance?

AARP life insurance is available to AARP members who are between the ages of 50 and 74.

In conclusion, AARP life insurance rates are a good option for seniors who are looking for life insurance and are already AARP members. The rates depend on several factors, including the type of policy, the amount of coverage, the age and health of the policyholder, and the state where the policy is issued. It is important to compare rates and policies from different insurance providers before making a decision.

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