Before you sign up with AARP Life Insurance, let us first take some time to learn about their programs and other offers. AARP is a nonprofit, nonpartisan, social welfare organization with a membership of nearly 38 million that are eager to help turn the goals and dreams of other people into… Real Possibilities. They also take part in strengthening the communities and fights for issues that matter to most families. Examples of issues are those related to health care, employment, and even income security and protection from financial abuse. AARP is a company that cares. They offer a life insurance plan that is exclusive for members who are over the age of 50 years but not more than 80. Their coverage is affordable and easy to avail if you want to help yourself or your loved ones cover their medical expenses, funeral costs, and other bills.
AARP was established by DR. Ethel Percy Andrus who was a retired principal. All she wanted was to promote her philosophy of productive aging and in response to the need of retired teachers’ health insurance. You see at that time, private health insurance was unavailable to older Americans. AARP evolved from the first company she had founded which was called as the National Retired Teachers Association or NRTA for short. Now NRTA has become a division of AARP.
Presently, there’s an estimated 2 million AARP member who are already insurance in the AARP Life Insurance Program. If you want to become a member, don’t worry because it is very easy to join. They offer two programs that you can choose from which is the following.
- TERM LIFE INSURANCETerm life insurance is cheaper because it doesn’t last for too long. It is a type of life insurance that pays a benefit in the event of the death of the insured during a specified term. It will only cover you for a certain period of time. Usually the time period ranges from 6 months, a year, to until 25 years. The sad thing about this is that if you die after the insurance policy has already expired, the company will not give you a pay out. You will only receive coverage if you due withing the agreed number of years or months.
So if you sign up with AARP for term life insurance, you will receive the following:
– Up to 100,000 US DOLLARS in protection for those who are aged 50 to 74 years of age.
– It is an affordable coverage that lasts until you reach the age of 80.
– There is no medical exam needed but you will have to give some of your health information
Term life insurance is great if you want a protection while you are still young or you just started working. It won’t be too heavy on your budget, but as you age – take note of this – the premium that you have to pay will also increase. You can turn your term life insurance into the next one. Just talk to your life insurance agent about it.
- PERMANENT LIFE INSURANCENow, you probably have an idea what it is all about. Permanent meaning the coverage will not expire until the time that you have to die.If you die, then the policy will die with you… or if you stop paying your premiums. However, if you continue paying your premiums, the life insurance policy will remain active for as long as you are breathing. The price for the premium of a permanent life insurance is fix. It won’t increase or decrease as you age, but it is more expensive than term life.
Permanent life insurance also allows you to accumulate wealth as regular premiums pay insurance costs and also contribute to equity growth in a savings account where dividends or interest is allows to build-up tax-deferred.
If you sign up with AARP, you will receive the following:
– Up to 50,000 US DOLLARS in protection for those ages 50 to 80 years
– It is an affordable fixed coverage for your entire life. You will be able to plan your budget accordingly.
– There will be no need for any type of medical exam but you will have to answer 3 health questions which you will find out once you have sign up or talked to an insurance agent about it.
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