AARP Life Insurance Program from New York Life Insurance Company Review (2024)
AARP (New York Life) life insurance rates are about $226/mo for 60-year-old policyholders. Younger policyholders may qualify for cheaper rates, but it varies for each person. Although AARP doesn't sell life insurance exclusively, it's connected to New York Life Insurance Company – an insurance provider with an "A++" rating from A.M. Best. Compare AARP life insurance quotes with multiple companies to get the best rates for your needs.
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UPDATED: Feb 13, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.
UPDATED: Feb 13, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident insurance decisions. Comparison shopping should be easy. We are not affiliated with any one insurance provider and cannot guarantee quotes from any single provider.
Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different insurance companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- AARP is partnered with New York Life Insurance Company to provide life insurance
- You can get AARP life insurance quotes through the AARP website
- New York Life has rates as low as $11 per month
- AARP and New York Life are two of the most renowned insurance companies in the United States
AARP life insurance is partnered with New York Life, one of the best insurance companies in the United States. AARP (New York Life) insurance rates vary for each person, but how much does it cost per month on average?
Read our AARP guide to learn more about AARP life insurance rates, products, third-party ratings, and other details about the company.
Do you want to know more about life insurance companies besides AARP? Enter your ZIP code in the free comparison tool above.
How Much Does AARP (New York Life) Life Insurance Cost?
The average cost of New York Life insurance is $11 per month for term life insurance. However, that would depend on your age, health, life insurance type, and death benefit.
Let’s look at an example of 15-year, no-exam term life insurance plans for 60-year-old policyholders who are either smokers or non-smokers.
Comparing New York Life and AARP Monthly Life Insurance Rates for 60-Year-Old Policyholders
| Health of 60-Year-Old Policyholder | Monthly AARP Life Insurance Rates | Monthly New York Life Insurance Rates |
|---|---|---|
| Non-Smoker | $226 | $311 |
| Smoker | $226 | $487 |
AARP appears to be more lenient to policyholders who are smokers, but any direct policy to New York Life costs more. This is typical of no-exam term life insurance policies.
Younger policyholders pay much lower rates. However, AARP focuses on providing service to consumers over the age of 49.
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How Do AARP (New York Life) Rates Compare to Other Companies?
AARP may not exclusively sell their AARP life insurance program, but New York Life Insurance Company does.
If you decide to go through New York Life, here’s a comparison of affordable life insurance benefits by the top life insurance companies in the United States.
Average Monthly Life Insurance Rates and A.M. Best Rating by Company
| Company | Average Monthly Life Insurance Rates | A.M. Best Rating |
|---|---|---|
| Allstate | $15 | A+ |
| Banner Life | $9 | A+ |
| Guardian Life | $10 | A++ |
| Haven Life | $11 | A++ |
| John Hancock | $11 | A+ |
| MassMutual | $10 | A++ |
| Mutual of Omaha | $12 | A+ |
| Nationwide | $13 | A+ |
| New York Life | $11 | A++ |
| Northwestern Mutual | N/A | A++ |
| Pacific Life | N/A | A+ |
| Primerica | N/A | A+ |
| Principal | $9 | A+ |
| Protective | $9 | A+ |
| Prudential | $16 | A+ |
| State Farm | $15 | A++ |
New York Life insurance rates are close to the middle. If you happen to qualify for $11 per month, your AARP life insurance quotes could be lower.
Ask questions about how you can secure cheap life insurance before you buy AARP life insurance.
What Products are Available at AARP (New York Life)?
AARP has various life insurance products. Let’s examine these coverage options below:
- Level Benefit Term Life Insurance
- Permanent Life Insurance
- Easy Acceptance Life Insurance
- AARP Young Start Life Insurance
AARP’s term life policy is available to people who are between 50 and 74 years old. However, you need to roll over your term life policy to a whole life insurance program after 74 to remain insured with AARP.
The permanent life policies are eligible to AARP members ages 50 to 80, in addition to members and their spouses (ages 45 to 80).
You can take it a step further and insure children and grandchildren through AARP Young Start. No medical exam is required, but you may need to answer questions based on the child’s health.
Do you have a complicated estate that needs a unique style of life insurance coverage? Check out our guide to some of the insurance companies best for complicated estates and retirement
Does AARP (New York Life) Have Good Financial Strength and Credit Ratings?
The short answer is yes. New York Life provides affordable AARP life insurance coverage, but it also has a strong presence in the life insurance industry. Let’s look at ratings from the top rating agencies in the United States.
- AM Best – A++
- JD Power – 784 out of 1,000 (About Average)
- Consumer Affairs – four out of five stars (Based on 336 reviews)
- Better Business Bureau (BBB) – A- (two stars based on five customer reviews)
Some of the customer reviews show a lower than average rating, especially with the BBB. However, the company’s overall financial strength and credit ratings are nothing short of excellent.
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What is AARP?
We’ve talked a lot about AARP, but what does AARP stand for? AARP stands for American Association of Retired Persons. It was founded by Ethel Percy Andrus and Leonard Davis in 1958 in a California town known as Ojai.
Today, AARP’s headquarters is located in Washington D.C. under Jo Ann Jenkins’s leadership – AARP’s CEO.
AARP has been in partnership with New York Life since 1994. The two companies continue to partner with life insurance policies throughout the COVID-19 pandemic.
Read more: Getting Life Insurance During the COVID-19 Pandemic
AARP Life Insurance Program Claims Process
Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)
AARP’s claims process is designed to be as convenient as possible for policyholders. They offer multiple options for filing a claim, including online, over the phone, and through mobile apps. This flexibility allows customers to choose the method that suits them best, making it easier to initiate a claim when needed.
Average Claim Processing Time
AARP understands the importance of a swift claims process. While claim processing times can vary depending on the nature and complexity of the claim, the company strives to process claims efficiently. Policyholders can expect a reasonable turnaround time, but specific processing times may be outlined in the policy documents.
Customer Feedback on Claim Resolutions and Payouts
Customer feedback is invaluable in assessing an insurance company’s performance in handling claims. AARP’s commitment to customer satisfaction means they value feedback from policyholders. Reviews and testimonials from customers can provide insights into the company’s claim resolutions and payout experiences, helping prospective customers make informed decisions.
Digital and Technological Features of AARP Life Insurance Program
Mobile App Features and Functionality
AARP offers a mobile app that provides policyholders with convenient access to their insurance information. The app is designed to offer features and functionality that enhance the overall customer experience. This includes the ability to view policy details, make payments, and even initiate the claims process directly from the app.
Online Account Management Capabilities
Managing an insurance policy online has become essential in today’s digital age. AARP provides policyholders with robust online account management capabilities. This includes the ability to review and update policy information, track claims, and access important documents, all from the convenience of their online account.
Digital Tools and Resources
In addition to mobile apps and online account management, AARP may offer various digital tools and resources to assist policyholders. These tools can include calculators to estimate coverage needs, educational resources on insurance topics, and other digital assets aimed at helping customers make informed decisions about their insurance coverage.
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AARP (New York Life) Insurance: What’s the bottom line?
Life insurance for people who are over 50 can be expensive. But AARP can give you a few cost-efficient options with one of the country’s top life insurance companies.
If you want a max New York Life insurance policy, you could pay more than $226 per month.
Before you buy an AARP (New York Life) insurance policy, compare multiple companies by entering your ZIP code in the free online quote tool below.
Frequently Asked Questions
What is the AARP Life Insurance Program from New York Life Insurance Company?
The AARP Life Insurance Program from New York Life Insurance Company is a life insurance policy designed for members of AARP (American Association of Retired Persons) and their spouses. It provides coverage to help your loved ones with end-of-life expenses, paying off debts, and other financial obligations.
Who is eligible for the AARP Life Insurance Program?
To be eligible for the AARP Life Insurance Program, you must be a member of AARP between the ages of 50 and 80. Your spouse can also apply for coverage if they are between the ages of 50 and 80 and you are a member of AARP.
What types of life insurance does the AARP Life Insurance Program offer?
The AARP Life Insurance Program offers two types of life insurance policies: term life insurance and permanent life insurance. Term life insurance provides coverage for a specific period, while permanent life insurance provides lifelong coverage.
How much coverage can I get from the AARP Life Insurance Program?
The amount of coverage you can get from the AARP Life Insurance Program varies depending on your age, health, and other factors. The program offers coverage from $10,000 to $100,000.
How do I apply for the AARP Life Insurance Program?
You can apply for the AARP Life Insurance Program online, by phone, or by mail. To apply, you will need to provide information about your health and lifestyle, as well as your beneficiary information.
Are there any medical exams required to apply for the AARP Life Insurance Program?
No, there are no medical exams required to apply for the AARP Life Insurance Program. However, you will need to answer a few health questions as part of the application process.
Can I cancel my AARP Life Insurance Policy?
Yes, you can cancel your AARP Life Insurance Policy at any time. If you cancel within the first 30 days, you will receive a full refund of any premiums you have paid.
Is the AARP Life Insurance Program from New York Life Insurance Company a good option?
The AARP Life Insurance Program from New York Life Insurance Company is a reputable insurance option for members of AARP. However, it is always recommended to shop around and compare policies from multiple insurance providers to find the best coverage for your individual needs and budget.
Are you looking for free insurance quotes?
Your one-stop online insurance guide. Get free quotes now!
Secured with SHA-256 Encryption
Diego Anderson
Licensed Real Estate Agent
Diego Anderson is a Real Estate Agent based in the Bay Area of California. Having received his Real Estate License at the age of 18, he wasted no time learning the ins and outs of the industry. With a focus on residential dual agency, he has a passion for supporting and educating families on their home buying and selling decisions. He is no stranger to new builds and new developments. He also r...
Licensed Real Estate Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about insurance. Our goal is to be an objective, third-party resource for everything insurance related. We update our site regularly, and all content is reviewed by insurance experts.