AARP Life Insurance Review 2025: Plans, Cost, and Highlights

AARP-New York Life Insurance offers unique options for both older people and those with pre-existing conditions. The lack of a medical examination, brand reliability, and automatic approval options makes this product appealing to a wide audience. However, it is always critical to understand the cons and to be informed of the pitfalls prior you take out life insurance with any provider. In this piece, we will examine AARP/New York Life Insurance, its merits and flaws, prices, and more, so you can make a knowledge-based decision.

As you are probably aware, AARP-New York Life Insurance is an initiative developed in alliance with New York Life, which is full of interesting discounts and bonuses for seniors. Still, what exactly is New York Life? As one of the longest-standing and most reputable carriers in the U.S., New York Life Insurance Company has been around since 1845 and has a superior financial stability rating of A++++ by AM Best. In comparison to lesser-known insurers, New York Life’s guaranteed reliability gives you peace of mind that your capital is invested in a financially secure and trusted firm.

AARP Life Insurance Products

AARP/New York Life offers three basic types of insurance plans. Each of these categories has different highlights, specifications, and prices.

1. Term Life Insurance

One of such coverages that AARP and New York Life provide on their website is Term Life Insurance. This is a temporary insurance policy with coverage for a specified period (usually ten to thirty years). If the insured dies throughout the duration of the policy, beneficiaries are eligible to a payout. If the policy expires and the insured is still alive, coverage ends and no payout is made.

On the plus side, the policy is easy to take out and flexible in choosing the term of the policy. In fact, by choosing this plan, you will not be required to have a medical test (valid for most age categories). As for the period of the policy, you can choose, for instance, 10, 20, or 30 years. 

This plan is suitable for anyone looking to safeguard their family’s finances during a certain period, such as while the children are in college or paying off a mortgage. Once the policy expires, coverage ends and the customer will have to either renew it or choose another product.

2. Permanent Life Insurance

Another coverage provided by New York Life in collaboration with AARP is Whole Life Insurance. As the name itself states, it is permanent insurance offering coverage for the insured’s entire life. Additionally, this category includes a savings component (in cash) that grows in the long run and can be used by the client during their lifetime.

Unfortunately, the cost of premiums is higher than for Term insurance because it’s lifetime coverage. The higher price is the reason why this product is less affordable for people on a tight budget.

Since the policy stays active until the insured’s passing, if premiums are paid regularly and the monthly premiums remain the same throughout the life of the policy, the plan is considered suitable for those who want to provide long-term financial protection for their dependents while building a savings fund.

3. Guaranteed Acceptance Life Insurance

This product is specifically developed for the elderly who are denied to be insured by other companies. For example, if a person is diagnosed with serious illnesses such as cancer, diabetes, heart failure, or other chronic conditions, they can still be insured.

The most crucial advantages of this category are: fixed monthly premiums that allow customers to easily manage their budget; streamlined registration – no need to undergo a physical exam or fill out health questionnaires; and the sum insured is adequate to cover funeral arrangements.

Among the disadvantages are: 

• Waiting period: If a client dies within the first 2 years, the payout to beneficiaries consists of the premiums paid, plus a small percentage.
• High cost: Monthly payments are higher than for standard insurance offerings, especially for the elderly.

Thus, this product is ideal for the elderly, people with chronic illnesses or serious health problems, and those who do not want to undergo medical examinations or fill out complicated questionnaires.

Key Differences in AARP New York Life Insurance Plans

Feature	Term Life	Permanent Life	Automatic Approval
Amount	Up to $150K	Up to $50K	Up to $25K
Lasts For	As long as premiums are paid	Lifetime	Lifetime
Health Questions	+	+	–
Medical Test	–	–	–
Premium Increases	As you age	–	–
Cash Value	–	–	Minimal
Waiting Period	–	–	2 years

Who Is Eligible?

First, to meet the requirements for AARP-New York Life, you have to be an AARP member or their spouse. Secondly, it is important to meet the age criteria; the acceptable age range is 50 to 80, depending on the policy. 

Additionally, you must be a resident of a U.S. state. Last but not least, some types of insurance plans demand you to fill out a health questionnaire.

What Is the Cost of AARP New York Life Insurance?

On the New York Life site, you will find a handy insurance calculator to calculate the cost for your case. All you need to do is enter your name, address, and zip code and get a quote instantly.

AARP life insurance can cost differently in each case. Insurance charges usually depend on a number of aspects, including the type of policy, age, gender, state of the U.S., and your health status. The minimum cost starts at $11 per month.

For example, we decided to find out the cost of AARP-New York Life Insurance for a 55-year-old woman living in California who has not smoked in the last 12 months. After filling in all the fields in the calculator, we got the following prices for Term Life Insurance: at $10,000 – the payment will be $13 per month, at $25,000 – the payment will be $22, and finally at $50,000 – the payment will be $38. Keep in mind that prices increase every 5 years automatically.  

It should also be noted that the cost of the same insurance under the same conditions and age, but for a man will be more expensive, on average by $5–15.

If we talk about Permanent AARP–New York Life Insurance, then under the same conditions, the cost for a woman will be from $30 to $118 per month (depending on the value of coverage, $10,000 — $50,000), and for a man, from $42 to $185 per month.

It is worth noting here that Permanent AARP-New York Life Insurance premiums stay the same for life, the terms last forever and have fixed rates, there is no waiting period, and no medical test. 

If you choose the Guaranteed AARP-New York Life Insurance plan, a 2-year waiting period is mandatory. Medical tests are not required. In this case, the cost for the same woman will be between $38 and $93 per month (based on the premium amount of $10,000 — $25,000,) and for a man, between $50 and $124 per month.

We recommend that you read all the terms and conditions of these three plans carefully and choose the one that is right for you.

Speaking of AARP-New York Life Insurance: Merits and Flaws

AARP-New York Life Insurance is like any insurance product, it has its strengths and weaknesses. Let’s consider each of them in detail.

Benefits

1. No medical examination for any plan

Numerous insurers request a medical evaluation or ask customers to fill out a detailed health questionnaire before signing up for a policy. This can be a difficult barrier for people with chronic illnesses or other health issues. For example, if a person has diabetes, hypertension, or cardiovascular disease, it can be difficult for them to get insurance from other companies. AARP-New York Life avoids these complications by offering policies without the need to provide medical documentation or a physical exam.

2. A trusted brand

New York Life Insurance Company is one of the oldest and most respected insurance companies in the United States. It has been around since 1845 and has an A++ (highest rating) financial strength rating from A.M. Best. For seniors who plan to use insurance to cover funeral expenses or leave an inheritance, the reliability of the company is key.

3. Options for everyone regardless of their conditions

The program offers Guaranteed Issue, which means that the company will not deny coverage even to people with serious health problems. A person who has suffered a stroke or has a history of cancer can be automatically insured without additional checks. This is a rare offer in the insurance market, where most companies refuse such clients.

Drawbacks

1. Term premiums increase over time

If you took out a Term policy at age 60, your premium may be affordable, but by age 70-80, it will grow considerably. For instance, your monthly premium may increase from $50 to $150 or more.

2. Coverage limits are lower than many other insurers

If you want $50,000 worth of life insurance to secure your family’s future or handle significant financial obligations, this limit may not be enough.

3. Guaranteed acceptance has a waiting period

If a client dies six months after taking out a policy, his or her beneficiaries will get only the monetary amount that was paid, plus perhaps 10% of that price. Only after the waiting period (usually around two years) is the full sum insured paid out.

Final Thoughts

After taking into account all aspects regarding the types of coverages offered by AARP-New York Life, we can conclude that the insured person can receive some of the most favorable offers on the market. Indeed, the fixed prices, lifetime retention of terms and conditions, and the absence of medical exams and tests make this company’s products extremely popular with individuals aged 50 and over in the United States. 

Term Life Insurance may be an ideal choice if your goal is to create a stable financial foundation for your dependents while paying off the mortgage, children’s education, or other primary goals. Or select Permanent Life Insurance to help build a solid financial foundation for your spouse and children, and save money at the same time. Finally, Guaranteed Acceptance Life Insurance is your choice if you’ve been turned down by all other companies or have a chronic illness.

Reviews