About AARP Life Insurance
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AARP offers roadside assistance through Allstate. AARP members who sign up for roadside assistance can get help 24/7 if they have a flat tire, need their car towed, run out of gas, have a dead car battery or lock their keys in their car. Members are covered in the United States, Puerto Rico and Canada.
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In January of 2021 I contacted AARP Life Insurance company to take out a $5000 policy on my brother. My brother did not have insurance and so I asked him if it was okay. I told him it would be paid by me. As he no longer resided in my home when the paperwork came I would take it to him to be signed in his designated area of the form. I asked my brother if I could be owner as I would have payments taken out of my bank account, provided them with a voided check to begin the process. I was owner, beneficiary and my daughter was contingent in case I no longer was around to pay the premiums. I was able to afford the premiums for $24.30 a month as I had lost my granddaughter to death two years prior and no longer had to pay for her. I had insured her, my daughter, grandson, my husband, myself through another insurance company that was great. I have been in that insurance for over 50 years.
A wonderful agent and company. All the paperwork pointed to me being the owner so I figured if there was any control over monies being returned or monitoring the funds it was up to me. I even paid for an AARP membership for my brother. I had a membership for years as well as my husband. AARP along a year had not accepted the paperwork making me owner as my brother and I had agreed. They apparently got him to change the paperwork without my knowledge from the beginning. I had all the policy information in my possession and set up an online account where they always referred to David when I logged in. I paid the premiums from my bank for over a year up to Feb.26, 2022. This year my brother had a new girlfriend who finally took control and told him she was gonna take out a $10,000 term life policy on him and he would pay for it, costing him $42.00 a month. I kept getting mail at my home continuously.
David had moved from his previous address. I had taken mail to his home prior to that and even had encouraged him to call them. At some time during the beginning of the insurance they had switched and made it where I had no say. When I called them to stop taking my money from my checking, I was told I had no say. They would have to talk to him. I was livid. I paid for a entire year and he has control of my money. I texted his new girlfriend to ask him to have them stop taking my money out of my private bank account and he totally cancelled the insurance as they say he owned. My brother is illiterate and don't understand easily and that is why I needed to be able to communicate with his insurance. They cut me off and sent him papers to change stuff unbeknownst to me.
I paid a payment on 3/10/22 and they accepted it to keep the policy in force as it was when I checked it. They finally cancelled it and sent a refund of my money to my brother in his name that I have to ask for. I was scammed by this AARP NYL Insurance company. Why did you change the paperwork to let someone who don't understand and can easily be manipulated by someone not his family. His older sister was trying to ensure he could halfway leave this world and not in a cardboard casket. I think I should get my $24.30 back for all of the year that it was taken from my bank. I initiated this insurance contract and NYL did what they wanted to do with it. Buyer beware.
Had an AARP NY Life policy. Apparently, my $10K policy was changed to a 5,500k policy. Could not discuss this with customer service because the policy number I had on file was no longer valid. My premium was still being collected. Took three phone calls to get a copy of the 5,500K policy (which I have no recollection of changing). Cancelled the policy only to find that the beneficiaries listed were not those listed by me originally. My wife was listed as first beneficiary (correct), but her address and date of birth and SSN were wrong.?? The secondary beneficiary was an "In-law Kevin **" (no address or other data listed). I have no such in-law. Did successfully update the beneficiaries information and sent a cancellation form to AARP. Stay tuned.
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My father had life insurance through AARP and got sick and died. He missed his last payment due to some fraud in his account and AARP honored it. I want to cry because I wasn't sure how we were going to afford everything including funeral expenses etc. These are truly genuine people with morals and values and not some heartless corporation. Thank you so much.
My husband and I both had life insurance. His policy of $15,000 monthly was $64.98 went up to $112.88. My policy was 15,000 monthly was 13.69 went up to 19.48. We were not notified of these changes and I am disabled my husband retired and were not able to continue paying these payments. As told by the company I will not get compensated and basically I lost all this money for the last 6 yrs. Bad life insurance and do not recommend it.
It’s a reliable company which a variety of products especially without an Heath exam. If you have a preexisting conditions most are accepted. It’s base on the information you give. As always if you're younger than 50 it would be good for you and reasonable rates.
I am 72 years old and I applied 4 years ago and I check every year with other life insurance companies for their whole life $10,000 policy rates and New York AARP is still the best and the lowest premium.
Purchased NY Life/AARP life insurance $75,000 for $195 a mo., requiring an electronic withdrawal from our bank each month. Filled one out & signed it. My husband had 3 strokes during back surgery & was unable to speak clearly, walk, or have memory for a year. Each month I checked our account to be sure who was deducting. Because I almost lost my husband of 55 yrs., I finally felt I should increase his amount of insurance. When I looked, I never got a policy or a copy of the "authorization", tried for months to get it from them, & finally got it a couple of months ago. They had, without notifying us or getting another authorization, DECREASED our amount of insurance to $32,000, and INCREASED our monthly premium to $322.
We requested a copy over & over of the "authorization", but they still have not sent it. My bank will not credit my account with over a year of UNAUTHORIZED payments, and NY Life/AARP has not refunded these payments. Now we are forced, at 77 & no income, to have to pay an attorney to FORCE all these people to give our money back, as well as having them ARRESTED for THEFT.
On 4/8/2020 I renewed my membership. I've gotten many bills since then. Why the heck do they keep saying that I have not paid. I can verify it was paid in my bank. To me it seems like they are scammers trying to make you lose money. Not at all secure.
NO customer service. Waste of money. AARP is not worth the money. They are paid a royalty/commission to sell United Health and won't help if you have a problem with what they promise. Buy from Cigna. United has also a lot of bad reviews. Their customer service terrible.
I'm curious on whether or not to proceed with life insurance policy. Need some honest advice from others that have dealt with this company. I see a name, Jason Montgomery as agent out of Arkansas and California? New York Life seems to be a legitimate company and AARP is but some of the reviews seem to be suspicious on this company. Thank you for any insight. I would hate to waste thousands of dollars in premiums if this is a scam insurance company. Unable to publish email address so I'll check to see the latest reviews (2020). Thank you.
AARP author review by Neal Frankle
AARP is a large organization boasting over 38 million members ages 50 and up. They opened their doors in 1958 and now have offices in all 50 states.
Great products: AARP markets insurance products by New York Life – a highly rated insurance company.
Member supported organization: AARP often provides discounts to members.
Unique policies: AARP markets “no physical exam” insurance, meaning customers may be able to find an insurance policy through AARP that they cannot buy elsewhere.
Life insurance: AARP is not an insurance company as suggested above. They only market life insurance and annuity products by New York Life, and New York Life often sells pricier policies than other insurance providers.
Cost: “No physical exam” life insurance is often much more expensive than alternatives. Even people with existing health conditions can typically find coverage without going this route.
Neal Frankle is a Certified Financial Planner in Los Angeles. He is the publisher of WealthPilgrim.com, an information resource for consumers. He has been a professional financial advisor since 1991 and is the editor of www.MCMHA.org.
AARP Life Insurance Company Information
- Company Name:
- AARP
- Website:
- www.aarp.org
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