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AARP Life Insurance Program from New York Life
AARP
Level Benefit
Term Life
Protection Amount
$10,000 to $150,000
Coverage Period
Can last to age 80
Rates
Lower initial rates that increase over time, and you can exchange anytime before age 80 for permanent life2
No Medical Exam
Just your health information
AARP
Permanent
Life
Protection Amount
Up to $100,000
Coverage Period
Can last your entire life
Rates
Guaranteed rates that never increase
No Medical Exam
Just your health information
AARP Permanent Life with Living Benefits
Protection Amount
Up to $100,000
Coverage Period
Can last your entire life
Rates
Guaranteed rates that never increase
No Medical Exam
Just your health information
AARP
Guaranteed Acceptance Life
Protection Amount
Up to $30,0003; Limited benefits for first 2 years
Coverage Period
Can last your entire life, guaranteed acceptance4
Rates
Guaranteed rates that never increase
No Medical Exam
No health questions; Includes extra mortality risk charge
Common questions when comparing life insurance options
How do premiums differ between these life insurance options?
Term life insurance begins with lower initial rates that increase in five-year age bands and are not guaranteed.
Permanent life insurance and guaranteed acceptance life insurance rates are based on your age when you apply and will not increase for any reason.
Do these life insurance options require a medical exam or health questions?
None of the products offered through the AARP Life Insurance Program from New York Life require a physical medical exam.
Both term and permanent life insurance include health questions in the application, and approval is based on health information you provide or allow New York Life to collect.
With guaranteed acceptance life insurance, you won’t have to answer a single health question.
Does Guaranteed Acceptance Life Insurance have a waiting period?
Guaranteed Acceptance Life Insurance has limited benefits during the first two years of coverage. This is sometimes described as a waiting period. However, benefits may still be payable during that time depending on the cause of death and applicable policy terms. After the limited-benefit period, the full death benefit is available for covered causes while the coverage remains in force.
Can I exchange Term Life Insurance for Permanent Life Insurance?
Yes, this term insurance can be exchanged for permanent life insurance without a medical exam at any time before the insurance ends. Rates will be based on your age at that time.
Looking for Higher Coverage?
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Call New York Life at (800) 607-6957
Monday to Friday: 8 a.m. - 8 p.m. (ET)
1New lower rates compared to previously offered term coverage. Rates aren’t guaranteed and increase in five-year age bands — all age bands are now lower, except 75-79 remains the same. Not available in NY or MT. Residents of AZ, MA, MS, NM, SC, WV, WY: New lower Preferred rates compared to previously offered term coverage with different rate classes. Rates are not guaranteed and increase in five-year age bands.
2Rates are based on your age when you exchange.
3Residents of GU, MN, MO, MT, OR, USVI: coverage is available to $25,000.
4If you're already insured with the program, the full coverage amount may not be available.