AARP Life Insurance Review

AARP policies are underwritten by New York Life, a company that enjoys outstanding financial strength and creditworthiness. As of 2016, New York Life holds an A.M. Best rating of A++ (Superior), an S&P rating of AA+ (Very strong), and a Moody's rating of Aaa (Exceptional).

New York Life Insurance Company holds a Better Business Bureau rating of A-, having received a considerably low number of complaints in a three-year term. The NAIC has also reported that New York Life had a total complaint ratio of 0.20 for individual life insurance policies in 2017, quite a small figure for a company of its size.

AARP offers New York Life Insurance policies without physical exams, just simple health-related questions. The company provides level benefit term life insurance coverages as well as whole life and guaranteed acceptance policies. Their most basic plan features a simple application, no waiting periods, affordable rates that increase over time, and a guaranteed exchange privilege that allows policyholders to upgrade to a permanent policy at any time. One potential drawback about AARP term life coverages is that premiums increase as policyholders enter each new age band, which means premiums are not guaranteed and will steadily increase every five years.