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Introduction:

AARP, also known as the American Association of Retired Persons, is a nonprofit organization that provides a variety of benefits and services to its members. One of these benefits is life insurance, which can provide financial security and peace of mind to members and their families. In this article, we will provide an overview of AARP life insurance, including how much it costs and the types of policies available.

What is AARP life insurance?

AARP life insurance is a type of life insurance policy offered to members of the AARP organization. AARP offers both term life insurance and whole life insurance, allowing members to choose the policy that best fits their needs and budget.

Term life insurance provides coverage for a specific period of time, such as 10, 15, 20, or 30 years. If the insured person dies during the term of the policy, the beneficiary will receive the death benefit. Once the term of the policy ends, the coverage will no longer be in effect and the policy will no longer have any value.

Whole life insurance, on the other hand, provides coverage for the entire lifetime of the insured person. This type of policy also has a savings component, known as the cash value, which can be accessed by the policyholder through loans or withdrawals.

How much does AARP charge for life insurance?

The cost of AARP life insurance varies depending on factors such as the type of policy, the coverage amount, and the age and health of the insured person. In general, AARP offers competitive rates on its life insurance policies.

Term life insurance rates are based on the age and health of the insured person at the time of application. AARP offers term life insurance policies with coverage amounts ranging from $10,000 to $100,000. As an example, a healthy 55-year-old male non-smoker may be able to get a 20-year term life insurance policy with $50,000 in coverage for around $20 per month.

Whole life insurance rates are also based on the age and health of the insured person, but they are typically higher than term life insurance rates due to the added savings component. AARP offers whole life insurance policies with coverage amounts ranging from $5,000 to $25,000. As an example, a healthy 55-year-old male non-smoker may be able to get a whole life insurance policy with $10,000 in coverage for around $50 per month.

Does AARP sell whole life insurance?

Yes, in addition to term life insurance, AARP also offers whole life insurance to its members. As mentioned above, whole life insurance provides coverage for the lifetime of the insured person and has a savings component known as the cash value. This type of policy can provide both financial protection and a source of savings for the policyholder.

Types of AARP life insurance policies

AARP offers two types of life insurance policies to its members: term life insurance and whole life insurance. Both types of policies have their own unique features and benefits, and AARP offers a range of coverage options to meet the needs of its members.

Term life insurance

As mentioned above, term life insurance provides coverage for a specific period of time, such as 10, 15, 20, or 30 years. This type of policy is typically more affordable than whole life insurance and is well-suited for those who have temporary financial obligations, such as a mortgage or young children.

AARP offers term life insurance policies with coverage amounts ranging from $10,000 to $100,000. Policy terms are available in 10, 15, 20, or 30-year increments, allowing members to choose the coverage

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