AARP Whole Life
- Thread starter Tony
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- whole life
- 18,988
AARP does not have whole life at those amounts. They have term and they have UL. He probably switched to their UL.
It does not end at age 80 like their term, but, it clearly states in the policy that the premiums are "not guaranteed". Even has that same info at their website.
Actually AARP doesn't have any kind of insurance. The insurance is from New York Life and AARP get a fee for promoting it. that's why it costs so much.
If you can't beat their price with a whole policy for the guy, you are not contracted with the right companies.
- Thread starter
- #3
Tony, Take your pick RNA, CBL, UHL, Americo, American-amicable, United Home Life, Assurity, Oxford, Settlers Life, Foresters, etc....
- 196
actually JD, I called a lead a few weeks back and she had told me she was getting her husband WL with AARP. I researched their site, and they do have a GIWL policy now, with NYL. I wasn't able to get a lot of info about the product, but they do have it.
- 16,880
JD is correct that the premiums are not guaranteed against increases. They are pretty competitive at the older ages. Usually there is a 2 year graded period but if it is a converted term there is no graded period. It is whole life not UL unless something has changed.
- 16,880
You are thinking about the term policy. It increases on any year that your age ends witha 0 or a 5. It expires at age 80.
- 147
Where do you guys get your info on AARP?
They sell Term and Group life. The Group life is a WL. It is sold as either a Guarantee Issue (Called Guaranteed Acceptance) or Simplifed issue (called Permanent).
Go to their website for a quote and explanation of their products.
AARP Permanent Life Insurance from New York Life
As a group product, the rates are not guaranteed. They can raise the rates on a class basis.
Their rate on the website for the above 78 yr old for 15K assuming he can pass the simplified questions is $144 a month. I don't know about the rest of you but that beats the hell out of any FE product I have.
Btw, their GI product is $154.75 w/ a two year waiting period.
Foresters is $175
They sell Term and Group life. The Group life is a WL. It is sold as either a Guarantee Issue (Called Guaranteed Acceptance) or Simplifed issue (called Permanent).
Go to their website for a quote and explanation of their products.
AARP Permanent Life Insurance from New York Life
As a group product, the rates are not guaranteed. They can raise the rates on a class basis.
Their rate on the website for the above 78 yr old for 15K assuming he can pass the simplified questions is $144 a month. I don't know about the rest of you but that beats the hell out of any FE product I have.
Btw, their GI product is $154.75 w/ a two year waiting period.
Foresters is $175
No, it was definitely a permanent policy. The rates went up at 80 and were not guaranteed. I spoke with someone from NYL on the phone about it.
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