As life goes on, protection becomes one of the family’s priorities. Whether it’s against disease, death or debts, people resort to insurance as their means of safeguarding their future. And what
better way to be totally secure is to put your trust on stable ground with a formidable company. The AARP Life Insurance is one example.
The AARP Life Insurance program is sanctioned by a distinguished figure in the insurance dominion, the New York life Insurance Company. They offer affordable plans that may be used to cover for loans, debts, everyday expenses, medical bills and the foreseeable funeral bills. AARP has a very solid background, being one of the most recognized groups in the insurance field.
There are several insurance plans that one may choose from. What makes the AARP Life Insurance distinct from others is that they do not require physical examination, which is common to most insurance companies.
A group life insurance plan has been designed by New York Life, which was specifically tailored to assist AARP affiliates in hopes of protecting their families. The usual term life and whole life insurance programs are offered, with premiums that are not too hard on the pockets. Beneficiaries are people above the age of 50, and coverage may reach up to $100,000.
AARP Life Insurance has five specific plans designed to fit customers’ needs.
Level Benefit and Extra Protection Terms.
A life insurance coverage of up to $50,000 is the top feature of these two plans, among others. The Extra Protection Term, however, has a higher coverage, as it goes up to $100,000. Rates are affordable, but this shall increase over a certain period of time. Application is fuss free as it does not entail tons of paperwork. Acceptance shall depend on only three simple questions pertaining to health. In terms of eligibility, this applies to AARP members falling within the 50 to 74 age range and their spouses within the 45 to 74 age range. Full benefit coverage takes place right from day one.
Permanent Life Insurance.
As the name implies, this AARP Life Insurance offer guarantees protection for a lifetime. Also offering a $50,000 life insurance coverage, the rates do not increase due to age. Age wise, those who belong to the 50 to 80 age bracket are eligible, as well as their spouses belonging to the 45 to 80 age bracket.
Guaranteed Acceptance Life Insurance.
Albeit permanent, the name could be a bit tricky. Since being turned down is far from being possible with this plan, there are some drawbacks. First, its maximum coverage is only up to $15,000. Second, benefits for the first two years are limited. There is also an exclusion which states that death by suicide is not eligible for payment.
Young Start Life Insurance.
This is one great way to provide the young ones in the family with the security that they deserve as they grow. Granting a $20,000 insurance coverage for life, AARP members from age 50 to 80 may purchase this plan for their children or grandchildren of up to 17 years of age. What’s significant about this offer is that it assures constant coverage if a member passes on and the insured child is still below 21. Provided that coverage is valid for two years prior to death, premiums shall be waived until the child turns 21. By the time the child reaches that age, he shall become the owner of the policy. Otherwise, benefits shall be delegated to the parent or rightful guardian.
With AARP Life Insurance policies as attractive as these for minimal premiums, it’s definitely worth considering. Call an official AARP representative now for detailed quotes as you head towards a secure future.
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