- Up to $50,000 in life insurance coverage
- No waiting period
- No medical exam
- Acceptance based on your answers to three simple health questions
- Affordable rates that increase over time
- Simple application; most who apply are accepted
Who is Eligible AARP members ages 50 to 74 and spouses ages 45 to 74 are eligible to apply for this group coverage.
* If you aren’t yet an AARP member, you can join AARP and apply for Level Benefit Term Life Insurance at the same time
1 To learn more about the benefits of AARP membership,
click here. No Medical Exam There is no physical examination or medical tests. Acceptance is based on your answers to three simple health questions.
No Waiting Period
You are covered for the full benefit amount from the first day coverage takes effect. Once you are approved, you’ll have greater peace of mind knowing your family is protected.
Protection to Age 80
This insurance coverage can never be cancelled without your consent—regardless of your health. As long as you pay premiums when they're due and your Enrollment Form contains no misrepresentations about your medical history, you're covered to age 80.
Guaranteed Exchange Privilege
At any time until insurance ends at age 80, you can exchange Level Benefit Term Life for permanent life insurance without a medical exam. Rates will be based on your age at that time.
30-Day Guarantee
You'll receive a Certificate of Insurance when coverage is approved. If you decide the coverage isn't for you, for any reason, you can return it within 30 days for a refund.
A Single Exclusion
There is just one exclusion. If death results from suicide in the first two years, benefits will not be paid.2 (In Washington, specific state rules apply.)
Benefits Won’t Decrease
Your benefits will remain the same for the full length of your coverage—even if your health declines.
Premiums are arranged in five-year age bands, and increase only as you enter each new band.
Accelerated Benefit
If you're diagnosed with a terminal illness and given a life expectancy of 12 months or less (24 months in Illinois, Texas, and Washington), you can access half your benefit amount.3 (Not available in Massachusetts.)
Waiver of Premium for Certain Qualified Nursing Home Confinements
Premiums will be waived after 180 consecutive days of a nursing home stay ordered by your doctor.4 Your coverage will continue without interruption, but no premium payment will be required for as long as you're confined.
Simple Application
It doesn't take a lot of time or paperwork to apply for AARP Level Benefit Term Life. AARP members can apply by mail or online (in most states). There's absolutely no cost or obligation when you request information.
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1Oregon Residents: You must be an AARP member to request a free Information Kit and Enrollment Form by mail.
2Missouri and North Dakota Residents: The suicide exclusion applies only for one year.
3Please note that receipt of “living benefit” (accelerated death benefit) insurance proceeds may affect your eligibility for public assistance programs. Proceeds may be taxable. You may wish to consult your financial advisor and/or attorney to determine how this may affect your personal situation. Premiums continue to be payable but the benefit amount is decreased by one-half.
Texas Residents: Death benefits will be reduced if a ‘Living Benefit’ (accelerated death benefit) is paid. The acceleration of life insurance benefits offered under this certificate is intended to qualify for favorable tax treatment under the IRC of 1986. If these benefits qualify for favorable tax treatment, the benefits are excludable from your income and not subject to taxation. You are advised to consult with a qualified tax advisor about circumstances under which you could receive acceleration of life insurance benefits excludable from income under federal law. Receipt of acceleration of life insurance benefits could also affect you and your family’s eligibility for public assistance programs (Medicaid, AFDC, SSI, or drug assistance). You are advised to consult with a qualified tax advisor and with social service agencies to determine how receipt of these benefits will affect your eligibility for public assistance. Premiums continue to be payable but the benefit amount is decreased by one-half.
4The nursing home must be primarily engaged in providing skilled nursing care under the supervision of a licensed physician. Nursing home does not include a home or facility used primarily for rest; for the care of drug addicts or alcoholics; for the care and treatment of mental diseases or disorders; or for custodial care. Premiums will be waived until age 80 if you are in a nursing home. At that time, you can exchange your coverage for permanent life insurance.
The AARP Board of Directors is comprised of AARP members elected by other board members, not the general membership. AARP may agree to rate increases proposed by New York Life.
Privacy Notice:
Your privacy is important to New York Life Insurance Company. We maintain physical, electronic and procedural safeguards that meet state and federal laws. Information we collect, such as name and address, about individuals who request product information will be shared:
• With AARP and its subsidiaries to analyze members' needs and interests. AARP may use non-member information to seek memberships. AARP may share non-health information with other AARP service providers to inform you of member benefits and services that may be of interest.
For residents of certain states, we will not share your information unless you permit us to do so. We will follow your state's privacy law if it differs from the policy described in this notice. To request a copy of our complete privacy notice or to request that your information not be shared, call 1-866-687-5160.
You have the right to access certain information we maintain in our files about you. You may request that we correct, amend or delete it. To receive a full description of these rights, write to us at the address on the Enrollment Form.