Millions of Seniors Prefer AARP Life Insurance

AARP Life Insurance: AARP, the American Association for Retired People, was originally formed to cater to the needs of retired school teachers, and today is the most powerful citizens lobbying group in the United States. But AARP also offers other services to its members, such as life insurance.

The AARP Life Insurance Program is offered through the New York Life Insurance Company, one of the oldest life insurance companies in the U.S.

Given the fact that AARP life insurance coverage is for "senior citizens" (people aged 50 and older) through the age of 80, except in the state of Washington where the upper limit is set at 63, it has limited coverage and it's simple to acquire. No physical exam is required for any of their life insurance products, and for most getting accepted simply requires answering three simple health questions. Benefits are payable from the very first day coverage takes effect with no waiting period for most of the AARP life insurance products.

AARP also offers a guaranteed acceptance policy to members aged 50 through 80; this is a no-exam, no-questions-asked policy. It needs to be remembered that guaranteed life policies are a lot more expensive than other policies on the same person for the same face amount. Also, since they are guaranteed, such a policy pays limited benefits for the first two years if death occurs and results from anything other than accidental causes including suicide (standard on all life insurance from virtually all companies anyway). During those first two years, beneficiaries would receive an amount equal to 125% of the premiums that have been paid. After two years, the full benefit amount would be paid in any event.

AARP members are also eligible to apply for life insurance coverage on their children and grandchildren who are anywhere from three weeks to 17 years old. What's more, most of their products can also be underwritten for spouses of members as long as those spouses are at least 45.

If you are a member of AARP, chances are you can derive great benefit from having life insurance coverage through them. The membership and lobbying power of nearly 40 million Americans gives AARP a powerful voice in influencing the quality and cost of its members' life insurance policies. Members prefer AARP life insurance overall to that of any other company.

In most states, AARP members can get permanent life insurance policies with face values of up to $50,000. These policies are "paid up" (there are no more premiums, but coverage continues) once the insured reaches the age of 95. If the insured reaches the age of 100 ("life" in official life insurance terms), the death benefit is paid to them in the form of a check. In most states, if the insured is diagnosed with a terminal illness and has a life expectancy of 12 months or less, half of the face amount (death benefit) can be immediately accessed, with the proceeds used in any way the insured wants to use them.

AARP also offers its members term life insurance, which can be written on any member aged 50 through 74. Term life coverage with AARP automatically ends at the age of 80. There is no cash value in term, so if the insured is alive at 80 the coverage, along with the premiums, stops.

The eLifePolicy.com website offers one of the quickest and most convenient ways to purchase term life insurance coverage. Their easy 3-step process can be completed from the privacy of your home or office without speaking to an agent or requiring you take a medical exam. Just answer a few health questions. If qualified, you can print your in-force life insurance policy in minutes!Click Here

Return from AARP Life Insurance to Top Insurance Companies