AARP, which stands for the American Association of Retired Persons, is an organization that provides a wide range of benefits for those over the age of 50. One of those benefits is the AARP Insurance Life program, which provides term and permanent life insurance options for members. This article will provide an overview of the AARP Insurance Life program and the benefits it offers.
Who is Eligible for AARP Insurance Life?
The AARP Insurance Life program is available to anyone age 50 or older who is a member of AARP. There are no medical exams or health questions required to apply, and the policies are available to both individuals and couples. The policies are offered through the New York Life Insurance Company and are available in most states.
Types of AARP Insurance Life Policies
AARP Insurance Life offers two types of life insurance policies: term and permanent. Term life insurance is a type of life insurance that pays out a death benefit if the insured dies within a specified time period, such as 10 or 20 years. Permanent life insurance is a type of life insurance that pays out a death benefit regardless of when the insured dies. The two types of policies are available in different amounts, from $5,000 to $50,000.
Benefits of AARP Insurance Life
The AARP Insurance Life program offers a number of benefits, including:
- No medical exams or health questions
- Affordable premiums
- Flexible payment options
- Policies that can be converted to permanent life insurance
- AARP members receive a discount on premiums
Drawbacks of AARP Insurance Life
While the AARP Insurance Life program offers a number of benefits, there are some drawbacks to consider, such as:
- The policies are not available in all states
- The policies are only available to AARP members
- The policies do not cover pre-existing conditions
How to Apply for AARP Insurance Life
Applying for AARP Insurance Life is easy and can be done online or by phone. When applying, you will need to provide your name, address, date of birth, and AARP membership number. You will also need to provide information about yourself and your beneficiary. Once you have completed your application and paid the required premium, your policy will be issued and you will be able to begin taking advantage of the benefits of AARP Insurance Life.
Conclusion
The AARP Insurance Life program is an excellent option for AARP members who need life insurance coverage. The policies are easy to apply for and come with a number of benefits, including no medical exams or health questions, affordable premiums, flexible payment options, and the ability to convert to permanent life insurance. However, there are some drawbacks to consider, such as the policies not being available in all states and not covering pre-existing conditions. Nonetheless, the AARP Insurance Life program is a great option for those who need life insurance coverage.
