The Benefits of Choosing AARP Life Insurance for Your Coverage Needs
When we start ageing, we think more about the legacy we will leave behind for our loved ones. We want to ensure they are cared for financially and will have the means to carry on without us. One method to do this is by selecting a life insurance policy. But with so many options open, it can be overwhelming to decide. That’s where AARP life insurance comes in. The American Association of Retired Persons provides various life insurance options for seniors. In this blog post, we will explore the benefits of choosing AARP life insurance for your coverage needs and why it may be the best choice for you and your family.
AARP Life Insurance Options
AARP offers three types of life insurance options:
- Term Life Insurance: This option provides coverage for a specific period of time, usually 10, 15, 20, or 30 years. The policyholder chooses the coverage amount and pays a fixed premium for the duration of the policy. This option is ideal for seniors who want coverage during a specific period, such as until their mortgage is paid off or until their children finish college.
- Permanent Life Insurance: This option provides lifelong coverage and builds cash value over time. The policyholder pays a fixed premium throughout their life, and the policy pays out a death benefit upon the policyholder’s passing. This option is ideal for seniors who want lifelong coverage and the added benefit of building cash value over time.
- Guaranteed Acceptance Life Insurance: This option provides coverage regardless of the policyholder’s health status or age. No medical exams or health questions are needed to qualify for this policy, but the premiums are typically higher. This option is ideal for seniors who may have pre-existing medical conditions that would disqualify them from traditional life insurance policies.
Regardless of which option you choose, AARP life insurance policies offer flexibility and can be customized to meet individual needs.
Benefits of Choosing AARP Life Insurance
There are several benefits of choosing AARP life insurance for your coverage needs, including:
- Affordable Premiums: AARP life insurance policies offer competitive and reasonable premiums. Because AARP is a non-profit organization, its policies are designed to be cost-effective for seniors.
- No Medical Exam Required: For some AARP policies, no medical exam is required to qualify for coverage. This makes it simple for seniors with pre-existing medical conditions to obtain coverage.
- Guaranteed Acceptance: AARP’s Guaranteed Acceptance Life Insurance option provides coverage regardless of the policyholder’s health status or age. This means seniors with difficulty obtaining coverage elsewhere can still get the protection they need.
- Coverage Options Up to $100,000: AARP life insurance policies offer coverage options up to $100,000. This can give peace of mind to seniors who want to protect their loved ones financially.
- Ability to Customize Policies: AARP life insurance policies can be customized to meet individual needs. This means that seniors can choose the coverage amount, policy duration, and other important factors.
- Access to AARP Resources and Discounts: AARP life insurance policyholders can access various resources and discounts, including financial planning tools, healthcare resources, and discounts on travel, dining, and entertainment.
AARP Life Insurance Customer Satisfaction
AARP life insurance policies are highly rated for customer satisfaction. According to J.D. Power’s 2020 U.S. Life Insurance Study, AARP ranks among the top life insurance providers in the industry for customer satisfaction. AARP scores 812 out of 1,000, significantly higher than the industry average of 771.
Customers are satisfied with AARP’s life insurance policies for several reasons:
- AARP policies are affordable and provide good value for the cost.
- AARP’s policies are flexible and can be customized to meet individual needs.
- AARP’s Guaranteed Acceptance, Life Insurance option provides coverage for seniors who may have difficulty obtaining coverage elsewhere.
- AARP’s policies come with access to AARP resources and discounts, which can be helpful for seniors who are looking to save money and improve their overall quality of life.
Choosing the right life insurance policy can provide peace of mind and financial security for seniors and their loved ones. AARP life insurance offers several benefits, including affordable premiums, flexible coverage options, and access to AARP resources and discounts. AARP’s high customer satisfaction ratings and positive customer testimonials demonstrate that AARP is a reliable and trusted choice for seniors looking for life insurance coverage.