Insuring your life is a smart idea to look after your family when you will not be there. And it is more so when you are a member of American Association of Retired Persons (AARP) because whether you are still working or have already retired, the membership of AARP requires your age to be 50 years or more. So clearly you are going to be in old aged category from being a middle aged person in a couple of years. Therefore it could be considered that the level of your medical emergency will be going high gradually and your life expectancy will be on the downward path. Now you must be thinking why you are saying all this. Because, today in this article we will discuss elaborately the life insurance plan offered by New York Life exclusively for the members of American Association of Retired Person.
Points to be noted about New York Life - AARP life Insurance plan:
- Four different types of plans are on the offer - level benefit term Life Insurance, permanent Life Insurance, guaranteed acceptance Life Insurance and young start Life Insurance.
- All the plans are on offer exclusively for the members of American Association of Retired Person (AARP).
- No medical examination will be conducted on any of the applicant. Only some very important health information will be asked from the members.
Level Benefit Term Life Insurance:
- It provides you $10,000 to $100,000 group life insurance coverage.
- You will not be asked to go through any medical examination.
- Your acceptance will be based on your answers to some health questions and balance information will be obtained by New York Life Insurance Company from AARP (with your permission).
- You can utilize this life insurance for making payment for your Mortgage or Loan, paying bills for your daily household needs, making payments for your medical bill or credit card bill or any other debt you have.
- Any AARP member aged between 50 to 74 and wife aged between 45 to 74 is eligible to apply for this group insurance policy.
- The monthly payable premium rate is quite affordable and you can check it on the application page itself.
Permanent Life Insurance:
- This group insurance plan provides you a coverage up to an amount of $50,000
- It has got and guaranteed monthly premium payment rate which you will be charged and in no case it will be increased.
- This life insurance plan also does not call for any medical examination.
- The acceptance of your application will be granted based on your answer to some health questions and rest of the information about your health will be obtained by New York Life Insurance Company from AARP.
- You can utilize this group life insurance plan to pay your medical bill or funeral bill or some other obligations that you may leave behind once you pass away. You can even leave a gift or financial cushion for someone very special to you.
- AARP members ages 50 to 80 and spouses ages 45 to 80 are eligible to apply.
Guaranteed Acceptance Life Insurance:
- This plan gives you a guaranteed coverage of upto $25,000
- Like other policy plans, this plan also does not require you to go through any medical examination.
- Add to this, you will also not be asked any health questions to answer. The acceptance of your application will be solely based on your AARP membership.
- By utilizing this insurance policy you can pay your medical bill or funeral bill and be very rest assured that you have organized properly to pay your obligations when you will not be there.
- This is a permanent life insurance policy which you can keep for your entire life and the monthly payable premium rates is guaranteed which will not be increased in any situation. (you can check the rates online on the application page itself)
- AARP members ages 50 to 80 and spouses ages 45 to 80 are eligible to apply. (This product is not available to residents of New Jersey and Washington)
Young Start Life Insurance:
- Unlike other three life insurance policies, this policy is not meant for the mature person. Rather it is meant for covering the younger one (child or grandchild AARP members).
- The Young Start Life Insurance policy gives you and coverage of $20,000.
- The monthly payable premium rate is quite low and the more early you start the rates are lesser. (check the premium rates online on the application page)
- The Valuable Premium Waiver Feature guarantees uninterrupted coverage to the insured child he or she is under the age of 21 at the time of your death. The premium is waived off till the insured child becomes 21 post which the future premiums will be his or her liability.
- AARP members ages 50 to 80 are eligible to purchase AARP Young Start coverage for their children or grandchildren up to 17 years old.
How to apply for AARP - New York Life insurance policy?
- Visit the official website www.nylaarp.com (New York Life - AARP insurance program).
- Just below the front banner you will find a blue colored tab displaying "Life Insurance". Click on that.
- On the next page, below the front banner, you will find the names of the life insurance policies offered - Level Benefit Term Life Insurance, Permanent Life Insurance etc. Click on any of the link.
- Now you are on the application page. The application form is displayed on the right hand side of the page.
- You need to provide some basic information through this application form to get an instant quote and approval on your application. (Your name, address, city of residence, state, zip code, gender, phone number and email address)
- While making application for getting an instant quote, you need to select the amount of coverage you want from the drop-down menu.
- Once you are done with providing the information, indicate whether you are an existing AARP member or not - check yes or no.
- Then finally click on the blue colored button - Get Instant Quote and Apply.
Customer care contact:
If you are not satisfied with the information provided online in the website and have some more question to be asked or need some clarification, you can always call the customer care number (1-800-619-9240) of New York Life Insurance Company and they will be more than happy to help you with information. The customer care executive of New York Life Insurance Company is available to take your call on Monday to Friday (8:00 a.m. to 8:00 p.m.) and on Saturday (9:00 a.m. to 5:00 p.m.).
Official website of New York Life Insurance: www.newyorklife.com
Official website of AARP - New York Life Insurance: www.nylaarp.com
Official website of AARP: www.aarp.org