About AARP

The American Association of Retired Persons (AARP) is widely recognized for providing resources and discounts to nearly 38 million members, primarily those aged 50 and over. Although AARP doesn’t offer its own life insurance, it partners with New York Life, a leading life insurance provider, to offer policies tailored for its members aged 50 and above.

New York Life is well-known for its life insurance options with investment components, such as variable universal life insurance, but these are not part of the AARP partnership. Instead, AARP members can access policies that require no medical exam and offer low death benefits, including term, whole, and guaranteed whole life insurance. These types of policies are typically the most accessible and appealing to older applicants.

Coverage

Whole Life Insurance

AARP members between the ages of 50 and 74, along with their spouses aged 45 to 74, are eligible to apply for coverage, which remains in effect until the insured turns 80. While the death benefit remains constant throughout the policy term, premiums increase every five years as the insured enters a new age bracket. Before reaching age 80, policyholders have the option to convert their term life insurance into permanent coverage, with rates determined by age at the time of conversion.

Coverage amounts range from $10,000 to $150,000 ($100,000 in New York), though higher limits may be available by contacting New York Life. Applicants are required to answer health-related questions and provide medical information, but no physical exam is needed for approval.

Term Life Insurance

AARP members between the ages of 50 and 74, along with their spouses aged 45 to 74, are eligible to apply for coverage, which remains in effect until the insured turns 80. While the death benefit remains constant throughout the policy term, premiums increase every five years as the insured enters a new age bracket. Before reaching age 80, policyholders have the option to convert their term life insurance into permanent coverage, with rates determined by age at the time of conversion.

Coverage amounts range from $10,000 to $150,000 ($100,000 in New York), though higher limits may be available by contacting New York Life. Applicants are required to answer health-related questions and provide medical information, but no physical exam is needed for approval.

Guaranteed Whole Life Insurance

Eligibility requirements vary by state, but in most cases, AARP members aged 50 to 80 and their spouses aged 45 to 80 can apply. In New York, coverage is available to members and their spouses between the ages of 50 and 75. Approval is guaranteed, with no health questions required.

This policy includes a waiting period, meaning that if the insured passes away from natural causes within the first two years, the payout will typically be 110% of the premiums paid. Coverage is available for up to $30,000, with the possibility of higher amounts by contacting New York Life. Guaranteed acceptance whole life insurance is not offered in all states.

Pricing

Several factors influence the average cost of life insurance, including age, ZIP code, coverage amount, and the length of coverage. However, these costs may not reflect the complete picture, as lower-cost term policies can expire without providing a payout. Fortunately, AARP offers a convenient way to estimate the cost of its plans online from the comfort of home. Below are term life insurance quotes for a 53-year-old woman and a 65-year-old man:

Submit a Claim

AARP and New York Life simplify the claims process by providing clear and accessible information on the AARP website. The claims portal outlines the available filing options and sets expectations for policyholders. While AARP recommends submitting claims through its online portal for convenience, policyholders also have the option to file via fax or mail.

Before initiating a claim, AARP members must download a claims packet from the website. Essential documents for a life insurance claim include a certified death certificate, proof of guardianship if the beneficiary is a minor, and executorship papers if the claim involves an estate.

Additional documentation may be necessary based on the claim type, such as proof of accidental death when applicable.

Customer Support

You can contact AARP by phone for general customer support at 800-850-2658, available Monday through Friday from 8 a.m. to 8 p.m. ET.

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Conclusion

AARP provides life insurance options tailored for seniors, primarily focused on covering final expenses. For instance, those who qualify for $150,000 in coverage may have enough to settle outstanding debts or contribute to a beneficiary’s education fund. As an organization advocating for seniors, AARP serves over 37 million members. While anyone 18 or older can join, life insurance is exclusively available to members aged 50 and above, along with their eligible spouses.