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  3. AARP vs. New York Life

Compare AARP vs. New York Life Life Insurance

What’s the difference between AARP Life Insurance and New York Life Insurance? See how our editors compare the two companies below.
Last Updated: April 18, 2024
AARP Life Insurance
4.0 / 5 - Very good
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New York Life Insurance
4.6 / 5 - Excellent
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Key Facts

  • AARP Life Insurance Program For Ages 50+
  • Backed by New York Life Insurance Company.
  • $10,000 - $100,000 in affordable coverage for ages 50-74.
  • No medical exam - just health information.
  • Group coverage exclusively for AARP members.
  • Simplified Term Life Insurance up to $150,000 for ages 35-64 
  • No medical exam or lab work required
  • Get a free quote & apply online or by mail in minutes
More Details >
More Details >

OVERALL RATINGS

 AARPNew York Life
Company Stability4.0/55.0/5
Reputation4.0/54.5/5
Policies & Coverage4.0/54.0/5

Overall 2

Financial Strength

Key Details

 AARPNew York Life
Underwriter
The New York Life Insurance Company
New York Life Insurance Company
Marketshare
4.08%
Premiums Written 2019
$5,216,488,225
Standard & Poor's Financial Rating
AA+
AA+
Moody's Financial Rating
Aaa
Aaa
AM Best Financial Rating
A++
A++
*The above information reflects the market share, premiums, and financial strength of the issuer of the AARP life insurance policies: The New York Life Insurance Company.
*The above information reflects the market share, premiums, and financial strength of the issuer of the New York Life life insurance policies: New York Life Insurance Company.

Reputation & Customer Experience

Company Reputation

National Association of Insurance Commissioners

 AARPNew York Life
NAIC Complaint Ratio 2017
0.2
0.2
NAIC Total Complaints 2017
65
65
*The NAIC complaint ratio (in this case 0.2) is a ratio of the number of complaints a company received for the total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.
*The NAIC complaint ratio (in this case 0.2) is a ratio of the number of complaints a company received for the total premiums written in a calendar year. The median complaint ratio across all companies is 1. A score below 1 means the company received fewer than average complaints. A score above 1 means the company received a higher number of complaints than average.

Customer Ratings

 AARPNew York Life
Date Collected
2017-07-31
2019-02-05

Policy Differences

AARP offers customers the following life insurance policies: Term, Whole Life, Guaranteed Acceptance/ Final Expense.
New York Life offers customers the following life insurance policies: Term, Whole Life, Universal Life, Variable Universal Life, Survivorship Life.

Term Life Insurance

 AARPNew York Life
Minimum Age
50
Maximum Age
74
Minimum Death Benefit
$10,000
Maximum Death Benefit
$150,000
Available Terms
5 year
10 year
15 year
20 year
25 year
30 year

Key Term Policy Features

AARP
vs
New York Life
  • Term-Permanent Conversions
  • Term-Permanent Conversions
  • Guaranteed Level Premiums
  • Guaranteed Renewability
  • Waiver of Premium
  • Accelerated Death Benefit
AARP
vs
New York Life
AARP
vs
New York Life

DO NOT USE - Quotacy Policies 1

DO NOT USE - Quotacy Policies 2

Flexibility and Available Riders

AARP
vs
New York Life
  • Child Protection Rider
  • Accidental Death Benefit Rider
  • Disability Income Rider
  • Spouse Protection Rider
  • Long-Term Care Rider
AARP
vs
New York Life
AARP
vs
New York Life

Additional Company Information

 AARPNew York Life
Homepage URL
https://www.nylaarp.com
https://www.newyorklife.com/
Company Phone
(800) 865-7927
(212) 576-7000
Headquarters Address
51 Madison Avenue, New York, NY, 10010
51 Madison Avenue, New York, NY, 10010
Mailing Address
5505 W. Cypress Street, Tampa, FL, 33607
Year Founded
1845
1845

DISCLAIMER

Final Verdict

New York Life Insurance has a higher overall rating than AARP Life Insurance. New York Life scores better than AARP across: Company Stability, and Reputation. However, AARP scores better on Flexibility & Available Riders. Both companies score similarly on Policies & Coverage.

Customer Comments & Reviews

C
Carlo
2/5/2018
New York Life Insurance review
There's something to be said for a company that's been around for 173 years. You're comparing apples to oranges. No other company even comes close.

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