Yes. AARP offers at least two different types of life insurance.
One type they have is a term life insurance policy that they sell to people age 50 or older. The rates increase every 5-years on that one. When you have a birthday that ends with a 0 or a 5 you will have a rate increase. (age 55, 60, 65, etc.) if you live to your 80th birthday your AARP term policy terminates. You can then buy their other policy but the rates are much higher and are still not guaranteed against future increases.
Another type policy AARP has sold for many years. It is a universal life policy where the rates are not scheduled to increase but it still has no guarantee against rate increases. They have sold this for many years.
More recently they have introduced a whole life policy that does offer a guarantee against rate increases. It may not be available in all states yet.
AARP is not actually an insurance company. They just market the policies for New York Life.
Keep in mind AARP is not an insurance company. New Your Life pays for the endorsement and the right to market under the AARP banner. Just because a policy is offered under the AARP name does not "necessarily" guarantee a better rate than you can get elsewhere. AARP is a good organization and New York Life is a good company, all I am saying is shop and know what you are buying. Whenever you buy something over the TV or in the mail you risk getting hurt because it is very easy to be confused by some of the advertising that is done. Having a good local agent is almost always the best choice.
AARP, the American Association for Retired Persons, is a lobbying group tied to a marketing organization. AARP does not write insurance, but does "endorse" certain insurance products in exchange for a kick back or other form of compensation.
It is unwise to assume any insurance product endorsed by an association is always a good deal. When I have compared plans recommended by AARP vs. what the consumer can purchase on the open market through an independent agent, I rarely find the AARP endorsed plans to be of good value.
Yes, AARP does offer life insurance through New York Life. They offer Term and Whole Life. The death benefit will either pay 100% from day one or be graded. Some of their policies can go up in price periodically, so take that into account when comparing prices.
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One type they have is a term life insurance policy that they sell to people age 50 or older. The rates increase every 5-years on that one. When you have a birthday that ends with a 0 or a 5 you will have a rate increase. (age 55, 60, 65, etc.) if you live to your 80th birthday your AARP term policy terminates. You can then buy their other policy but the rates are much higher and are still not guaranteed against future increases.
Another type policy AARP has sold for many years. It is a universal life policy where the rates are not scheduled to increase but it still has no guarantee against rate increases. They have sold this for many years.
More recently they have introduced a whole life policy that does offer a guarantee against rate increases. It may not be available in all states yet.
AARP is not actually an insurance company. They just market the policies for New York Life.
It is unwise to assume any insurance product endorsed by an association is always a good deal. When I have compared plans recommended by AARP vs. what the consumer can purchase on the open market through an independent agent, I rarely find the AARP endorsed plans to be of good value.