AARP Life Insurance Guide

Choosing the right life insurance after age 50 can feel overwhelming—but it doesn’t have to be. AARP Life Insurance is one of the most popular providers for seniors, which partners with New York Life Insurance Company to offer life insurance products designed specifically for people age 50–80.

In this guide, you’ll learn:

• What types of life insurance AARP offers
• Who qualifies
• How the plans work
• Pros and cons for each option
• Sample rate charts for seniors
• How to choose the best plan for your needs

This guide is written in simple, senior-friendly language so you can confidently make the best decision for yourself and your family.

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The 3 Main AARP Life Insurance Options

AARP, through New York Life, offers three primary types of life insurance:

1. AARP Level Benefit Term Life Insurance
2. AARP Permanent Whole Life Insurance
3. AARP Guaranteed Acceptance Life Insurance

Let’s break each of these down in detail.

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1. AARP Level Benefit Term Life Insurance

Best For:

Seniors who want affordable coverage for a specific period of time.

Coverage Details

• Available for ages 50–74 (members only)
• Coverage amounts: $10,000 – $150,000
• Rates increase every 5 years as you enter a new age bracket
• Coverage ends at age 80
• No medical exam — just health questions

Pros

• Lower starting price than permanent insurance
• Immediate protection
• No medical exam

Cons

• Rates increase every 5 years
• Coverage ends at 80
• Not ideal for covering final expenses long-term

Sample Monthly Rate Chart (Illustrative Only)

Male Non-Smoker (Example Rates — Your actual rates may vary)

Age	$25,000	$50,000	$100,000
50	$14–$20	$28–$36	$55–$70
60	$23–$30	$46–$58	$90–$120
70	$38–$48	$76–$92	$150–$220

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2. AARP Permanent Whole Life Insurance

Best For:

AARP whole life offers seniors lifetime coverage and fixed premiums.

Coverage Details

• Available ages 50–80
• Coverage amounts: $5,000 to $50,000
• Premiums stay the same for life
• Builds cash value over time
• No medical exam — just answers to health questions

Pros

• Coverage lasts for life
• Premiums never increase
• Builds cash value

Cons

• More expensive than term
• Lower maximum coverage amounts

Sample Monthly Rate Chart (Illustrative Only)

Female Non-Smoker

Age	$10,000	$25,000	$50,000
50	$28–$32	$68–$78	$135–$155
60	$38–$45	$92–$110	$185–$220
70	$55–$68	$135–$165	$270–$330
80	$105–$130	N/A	N/A

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3. AARP Guaranteed Acceptance Life Insurance

Best For:

Seniors with health challenges who want simple approval.

Coverage Details

• Available ages 50–80
• Coverage amounts: $5,000–$25,000
• No health questions. No medical exam. Guaranteed approval.
• 2-year waiting period for natural death
• Immediate payout for accidental death

Pros

• Guaranteed approval
• Premiums never change
• Lifetime protection

Cons

• Highest cost per dollar of coverage
• 2-year waiting period
• Lower maximum coverage amounts

Sample Monthly Rate Chart (Illustrative Only)

Male or Female — Guaranteed Issue

Age	$5,000	$10,000	$15,000	$25,000
50	$18–$25	$35–$50	$52–$75	$85–$125
60	$28–$38	$55–$75	$82–$112	$135–$185
70	$45–$65	$88–$125	$130–$185	$210–$300
80	$85–$115	$165–$225	$245–$330	$395–$560

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AARP Life Insurance: Eligibility & Requirements

Membership Required

You must be an AARP member, but membership is inexpensive (around $12/year).

Age Requirements

• Term Life: 50–74
• Whole Life: 50–80
• Guaranteed Acceptance: 50–80

Health Requirements

• Term and Whole Life: Health questions only
• Guaranteed Acceptance: No questions at all

Coverage Type Based on Health

Situation	Best Option
Good to fair health	Term or Whole
Poor health	Guaranteed Acceptance
Need coverage for final expenses	Whole or Guaranteed
Need temporary coverage	Term

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Pros & Cons of AARP Life Insurance

✔ Advantages

• No medical exams
• Simple applications
• Designed specifically for seniors
• Backed by New York Life (A+ rated)
• Permanent options have fixed premiums

✘ Disadvantages

• Term rates increase every 5 years
• Guaranteed acceptance has a waiting period
• Some policies are more expensive compared to other carriers
• Limited coverage amounts

How to Choose the Best AARP Life Insurance Policy

When comparing options, consider:

1. Your Health

• Good health → Term or Whole
• Declining health → Guaranteed Issue

2. Your Budget

• Tightest budget → Term Life
• Stable premiums → Whole Life
• Guaranteed approval → Guaranteed Acceptance

3. Your Goals

• Pay off debts → Term Life
• Cover funeral costs → Whole or Guaranteed
• Leave a legacy → Permanent policies

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Comparison Chart: AARP Life Insurance for Seniors vs Other Senior Insurance Carriers

Here’s a side-by-side comparison between the AARP Life Insurance Program (via New York Life Insurance Company) and two other senior-focused companies: Mutual of Omaha and Colonial Penn Life Insurance Company. This will help seniors evaluate which provider might fit their needs best.

Feature	AARP Life Insurance (NYL)	Mutual of Omaha	Colonial Penn
Age eligibility	Generally ages 50-80 for permanent; term 50-74.	Guaranteed acceptance 45-85 for some products.	Guarantee issuance often ages 50-85 for final-expense plan.
Coverage types offered	Term, whole life (permanent), guaranteed acceptance whole life.	Term, permanent, final expense, guaranteed acceptance.	Mainly guaranteed acceptance whole life (final expense).
Medical exam requirement	No medical exam; some health questions for term and whole.	Varies by product; some no-exam/health-question final expense.	No medical exam / no health questions for guaranteed acceptance.
Premium behavior	Term: premiums increase as you move into new age bands. Whole/Guaranteed: fixed premiums.	Some products fixed; but final-expense/guaranteed acceptance may carry higher cost	Premiums fixed for life in guaranteed acceptance, but coverage amounts modest and cost tends to be higher.
Waiting period for full benefit	Guaranteed acceptance policy has a 2-year waiting period for natural death in many states.	Some guaranteed issue products have waiting periods (first 2 years only partial benefit).	Yes — first 2 years natural-cause benefit is limited/refunded.
Maximum face amount (approximate)	Term: up to ~$150,000 (varies by state)	Some final expense up to $25,000 or more.	Coverage often modest (e.g., up to ~$25,000) for final expense.
Strengths	Strong brand, high financial strength (New York Life is A++ rated)	Competitive pricing for final expense/guaranteed acceptance; broad product line.	Low barrier to entry (health issues) for guaranteed acceptance; simple application.
Weaknesses	Term premiums rise; limited max face amounts; for healthy younger seniors there may be cheaper options.	For some products, waiting periods or health-question underwriting; may still cost more than fully underwritten policies.	Higher rates per dollar of benefit; complaint rate relatively high.

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New Section: Comparing AARP With Other Senior Life Insurance Providers

When you’re evaluating life insurance in your 50s, 60s, 70s or even 80s, you don’t have to accept just the first policy you see. You’ll likely benefit from comparing providers — and understanding how the competition stacks up can help you make a more informed choice.

Why comparison matters for seniors

• Health status and age affect eligibility and cost: If you’re in good health, you might qualify for a better rate with underwriting than a guaranteed-issue plan. If your health is challenged, guaranteed acceptance may be the realistic option.
• Premium behavior matters: Some policies have premiums that increase over time (especially term policies for older ages). Knowing how your premium may change is key for budgeting.
• Coverage amount vs. cost vs. purpose: If your goal is covering funeral and final expenses, you may need only a modest face amount — but costs per dollar of benefit tend to be higher in guaranteed acceptance plans.
• Financial strength and service: It matters that the insurer is financially solid and responsive. Seniors often rely on claims service down the road.

How AARP stacks up

As you saw in the chart above, AARP (via New York Life) offers a well-rounded set of senior-friendly policies: term, whole life, guaranteed acceptance. It’s backed by a strong insurer and has no exam-required options. That’s a big plus for seniors who worry about health underwriting. Forbes
At the same time, reviewers note that if you’re very healthy and can qualify for fully underwritten life insurance, you may find somewhat lower rates elsewhere. RiskQuoter.com

Other providers to consider

• Mutual of Omaha: Offers a strong range of senior life insurance including final expense and guaranteed acceptance with competitive rates. If cost is a major concern and you’re looking primarily for “final expense” coverage, this carrier is worth quoting. Choice Mutual
• Colonial Penn: Known for guaranteed-acceptance final-expense policies and direct-to-consumer marketing. If you have serious health issues and only need a modest benefit, this may serve your need — but expect higher cost per dollar of coverage and the waiting period limits apply. Forbes+1

How to use this in your decision-making

1. Get quotes from at least two providers (e.g., AARP + one competitor) for the same benefit amount and coverage type.
2. Check underwriting rules: Is it guaranteed issue? Are there health questions? Waiting period?
3. Evaluate the premium trend: Does the premium rise with age? Does it stay fixed?
4. Match the coverage to your goal: Are you covering a debt (short-term need) or final/funeral expense (long-term need) or leaving a legacy (large face amount)?
5. Consider risk tolerance: If you risk being declined for underwriting, you may prefer guaranteed acceptance now rather than hoping later.
6. Verify insurer strength and reputation — pick companies with high financial strength ratings and lower consumer complaint ratios.

Key takeaway for senior readers

If you’re age 50+ and want a trusted name with options, ease of application, and senior-focused policies — AARP’s life insurance program is an excellent starting point. But if you’re looking for the lowest possible cost and are comfortable comparing quotes (and maybe dealing with a different insurer), then providers like Mutual of Omaha may deliver better value in specific situations. If health is a major barrier and only minimal coverage is needed, then a guaranteed-issue final-expense plan (such as from Colonial Penn) can be a fallback—but expect higher cost for what you get.

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Conclusion

AARP life insurance offers simple, senior-friendly options backed by one of the strongest insurance companies in the world—New York Life. Whether you need temporary protection, lifelong coverage, or guaranteed acceptance due to health concerns, AARP provides a plan tailored to your needs.

Understanding your options and reviewing sample rates can help you choose the right coverage to protect yourself and your loved ones.

Frequently Asked Questions