AARP Term Life Insurance Rates by Age Chart 2024
last updated on April 5, 2024Are you looking to compare AARP’s term life insurance rates to the term life rates of their top competitors?
Great! Then you have come to the right place.
In this article, we’ll show you AARP’s term life rates by age as well as a chart with the rates from AARP’s top term life insurance competitors.
This will help you to choose the best life insurance company to protect your family.
Table of contents
AARP Level Benefit Term Life Coverage Amount Rates by Age Chart: 50-54 Years Old
Below are the monthly rates (quotes) for AARP Level Benefit Term life policy for ages 50-54 for: $10k, $25k, $50k, $100k and $150k coverage amount.
| Age | Gender | $10k | $25k | $50k | $100k | $150k |
|---|---|---|---|---|---|---|
| 50 | Male | $14 | $26 | $45 | $79 | $107 |
| 50 | Female | $11 | $18 | $29 | $52 | $71 |
| 51 | Male | $14 | $26 | $45 | $79 | $107 |
| 51 | Female | $11 | $18 | $29 | $52 | $71 |
| 52 | Male | $14 | $26 | $45 | $79 | $107 |
| 52 | Female | $11 | $18 | $29 | $52 | $71 |
| 53 | Male | $14 | $26 | $45 | $79 | $107 |
| 53 | Female | $11 | $18 | $29 | $52 | $71 |
| 54 | Male | $14 | $26 | $45 | $79 | $107 |
| 54 | Female | $11 | $18 | $29 | $52 | $71 |
AARP Level Benefit Term Life Coverage Amount Rates by Age Chart: 55-59 Years Old
Below are the monthly rates (quotes) for AARP Level Benefit Term life policy for ages 55-59 for: $10k, $25k, $50k, $100k and $150k coverage amount.
| Age | Gender | $10k | $25k | $50k | $100k | $150k |
|---|---|---|---|---|---|---|
| 55 | Male | $18 | $36 | $65 | $116 | $157 |
| 55 | Female | $13 | $22 | $38 | $69 | $94 |
| 56 | Male | $18 | $36 | $65 | $116 | $157 |
| 56 | Female | $13 | $22 | $38 | $69 | $94 |
| 57 | Male | $18 | $36 | $65 | $116 | $157 |
| 57 | Female | $13 | $22 | $38 | $69 | $94 |
| 58 | Male | $18 | $36 | $65 | $116 | $157 |
| 58 | Female | $13 | $22 | $38 | $69 | $94 |
| 59 | Male | $18 | $36 | $65 | $116 | $157 |
| 59 | Female | $13 | $22 | $38 | $69 | $94 |
AARP Level Benefit Term Life Coverage Amount Rates by Age Chart: 60-64 years old
Below are the monthly rates (quotes) for AARP Level Benefit Term life policy for man and woman for ages 60-64 for: $10k, $25k, $50k, $100k and $150k coverage amount.
| Age | Gender | $10k | $25k | $50k | $100k | $150k |
|---|---|---|---|---|---|---|
| 60 | Male | $24 | $50 | $94 | $171 | $233 |
| 60 | Female | $17 | $32 | $58 | $108 | $148 |
| 61 | Male | $24 | $50 | $94 | $171 | $233 |
| 61 | Female | $17 | $32 | $58 | $108 | $148 |
| 62 | Male | $24 | $50 | $94 | $171 | $233 |
| 62 | Female | $17 | $32 | $58 | $108 | $148 |
| 63 | Male | $24 | $50 | $94 | $171 | $233 |
| 63 | Female | $17 | $32 | $58 | $108 | $148 |
| 64 | Male | $24 | $50 | $94 | $171 | $233 |
| 64 | Female | $17 | $32 | $58 | $108 | $148 |
AARP Level Benefit Term Life Coverage Amount Rates by Age: 65-69 Years Old
Below are the monthly rates (quotes) for AARP Level Benefit Term life policy for man and woman ages 65-69 for: $10k, $25k, $50k, $100k and $150k coverage amount.
| Age | Gender | $10k | $25k | $50k | $100k | $150k |
|---|---|---|---|---|---|---|
| 65 | Male | $31 | $67 | $128 | $236 | $323 |
| 65 | Female | $21 | $44 | $81 | $154 | $213 |
| 66 | Male | $31 | $67 | $128 | $236 | $323 |
| 66 | Female | $21 | $44 | $81 | $154 | $213 |
| 67 | Male | $31 | $67 | $128 | $236 | $323 |
| 67 | Female | $21 | $44 | $81 | $154 | $213 |
| 68 | Male | $31 | $67 | $128 | $236 | $323 |
| 68 | Female | $21 | $44 | $81 | $154 | $213 |
| 69 | Male | $31 | $67 | $128 | $236 | $323 |
| 69 | Female | $21 | $44 | $81 | $154 | $213 |
AARP Level Benefit Term Life Coverage Amount Rates by Age: 70-74 Years Old
The chart below shows the monthly rate (quotes) for AARP Level Benefit Term life policy for man and woman ages 70-74 for: $10k, $25k, $50k, $100k and $150k coverage amount.
| Age | Gender | $10k | $25k | $50k | $100k | $150k |
|---|---|---|---|---|---|---|
| 70 | Male | $42 | $95 | $184 | $342 | $469 |
| 70 | Female | $33 | $74 | $141 | $272 | $377 |
| 71 | Male | $42 | $95 | $184 | $342 | $469 |
| 71 | Female | $33 | $74 | $141 | $272 | $377 |
| 72 | Male | $42 | $95 | $184 | $342 | $469 |
| 72 | Female | $33 | $74 | $141 | $272 | $377 |
| 73 | Male | $42 | $95 | $184 | $342 | $469 |
| 73 | Female | $33 | $74 | $141 | $272 | $377 |
| 74 | Male | $42 | $95 | $184 | $342 | $469 |
| 74 | Female | $33 | $74 | $141 | $272 | $377 |
AARP Life Insurance vs. Pacific Life vs. Protective Life vs. Transamerica vs. Banner Life vs. AIG vs. North American vs. Cincinnati Life vs. SBLI vs. State Farm vs. Nationwide vs. Prudential vs. Mutual of Omaha vs. Ameritas vs. Transamerica AAA Life Insurance
The table below compares the term life insurance rates between: AARP Life Insurance vs. Pacific Life vs Protective Life vs. Transamerica vs. Banner Life vs. AIG vs. North American vs. Cincinnati Life vs. SBLI vs. State Farm vs. Ameritas vs Nationwide vs. Prudential vs. Mutual of Omaha vs. AAA Life Insurance for a $100,000 policy on a 20-year level term.
| Company | Rating | $100,000 of coverage |
|---|---|---|
| Banner Life | A+ | $52.21 |
| SBLI | A | $52.15 |
| Protective Life | A+ | $52.22 |
| AIG | A | $54.82 |
| Pacific Life | A+ | $55.15 |
| North American | A+ | $57.11 |
| Ameritas Life | A | $57.42 |
| Cincinnati Life | A+ | $60.59 |
| Transamerica | A | $63.67 |
| State Farm | A++ | $64.38 |
| Nationwide | A+ | $66.59 |
| Prudential | A+ | $67.12 |
| Mutual of Omaha | A+ | $71.60 |
| AAA Life Insurance | A | $76.98 |
| AARP Life Insurance | A++ | $171.00 |
Rates for a 60 year old male $100k 20-year term Preferred Plus health class-D.O.B. 3/12/1964. Rates current as of 3/12/2024
AARP term life insurance rates increase every five years at each age band as seen the the tables above.
AARP Term Life Insurance Competitors: Term Life Insurance Rates by Age Chart for: $100,000 10-Year Term, 15-Year Term and 20-Year Term
The table below shows the monthly term life insurance rates (quotes) from AARP’s top term life competitors for a for a healthy, non-smoker, male and female at the Preferred health class for a 10-year, 15-year and 20-year level term policy.
Rates are from Superior rated term life insurance companies, such as Banner Life, Protective Life and Pacific Life by age and level term. You can compare these rates to the rates in the rate tables above from AARP. Unlike AARP’s term life rates, these rates are fixed for the term you select.
| Age | Gender | Coverage Amount | 10-Year Term | 15-Year Term | 20-Year Term |
|---|---|---|---|---|---|
| 50 | Male | $100,000 | $16 | $20 | $24 |
| 50 | Female | $100,000 | $15 | $16 | $18 |
| 55 | Male | $100,000 | $24 | $30 | $39 |
| 55 | Female | $100,000 | $21 | $22 | $27 |
| 60 | Male | $100,000 | $35 | $47 | $63 |
| 60 | Female | $100,000 | $28 | $34 | $42 |
| 65 | Male | $100,000 | $63 | $81 | $111 |
| 65 | Female | $100,000 | $43 | $54 | $79 |
| 70 | Male | $100,000 | $103 | $146 | $227 |
| 70 | Female | $100,000 | $68 | $93 | $183 |
| 75 | Male | $100,000 | $182 | $317 | NA |
| 75 | Female | $100,000 | $128 | $233 | NA |
Date of birth used is 3/14. Rates as of 03/15/2024. Exam may be required for these rates.
Chart Takeaways- AARP Term Life Insurance: Ages 50-60
- As you can see in the table above, a $100k 20-year level term life insurance policy for a 50-year old at the Preferred health class from a Superior rated term life insurance company is only $26 month for a male and $18 month for a female. Not only is this rate 3x cheaper than AARP, unlike the AARP term life policy this rate is fixed for 20 years and will not increase as you get older, regardless of changes in age or health!
- As you can see in the table above, a $100k 20-year level term life insurance policy for a 55-year old at the Preferred health class is only $39 month for a male and $27 month for a female. Not only is this rate about 3x cheaper than AARP life insurance, unlike the AARP term life policy this rate is fixed for 20 years and will not increase as you get older, regardless of changes in age or health!
- As you can see in the table above a $50k term life insurance policy for a 60-year old with AARP is $94 month, in which the rate increases every 5 years as you age. Compare this to a $100k level term life insurance policy from Pacific Life, Banner Life, Protective Life or another top rated life insurance the rate can be as low as $63 for a 20-year fixed term life insurance policy. This means the premiums will not increase for 20 years!
Chart Takeaways- AARP Term Life Insurance: Ages 65-80
- As you can see in the table above, $100k 20-year level term life insurance policy for a 65-year old at the Preferred health class is only $111 month for a male and $79 month for a female. Not only are these rates $125 per month cheaper than AARP life insurance, unlike the AARP term life policy, this rate is fixed for 20 years, regardless of changes in age or health!
- As you can see in the table above, $100k 10-year level term life insurance policy for a 75-year old at the Preferred health class is only $182 month for a male and $128 month for a female. Once approved, these rates are fixed for 10 years, regardless of changes in age or health!
AARP Term Life Insurance Application & Underwriting
The underwriting for AARP’s term life insurance product through New York Life is quick and easy. There is no medical exam and the online application only asks these these questions:
- 1. In the past 12 months, have you:
consulted a doctor or medical professional, or had treatment or diagnostic tests of any type (exclude routine annual physical and HIV when answering)?
Yes or No
needed help from a person or device to independently walk, bathe, or dress?
Yes or No
taken or been prescribed any medications?
Yes or No
- 2. In the past 5 years, have you:
been admitted to or confined in a hospital, nursing home, extended care, or special treatment facility?
Yes or No
received in home medical therapy or assistance?
Yes or No
had treatment or medication, or been diagnosed by a doctor or medical professional as having any of the following? (check all that apply below)
Heart Trouble
Stroke
Cancer
Diabetes Requiring Insulin
Drug or Alcohol Abuse
Asthma and/or COPD
Liver Disease
Kidney Disease
Immune System Disorder (excluding HIV)
AIDS
- 3. For every question answered “Yes,” provide details, such as: condition(s), date(s) of onset, treatment, medicine and dosage.
New York Life will also run a prescription database check and check the MIB (Medical Information Bureau) as part of their underwriting process.
AARP Term Life Insurance Details- The Fine Print
AARP term life insurance fine print below quote results: “Rates increase over time, please see the rate chart below for complete details.”
Is AARP Level Benefit Term Life Insurance The Same as Traditional Level Term Life Insurance?
No. AARP Level Benefit Term Life Insurance means the coverage amount (death benefit) stays the same until age 80. However, with the AARP term life plan, the monthly rates (premiums) increase as you get older and enter each age new band; age 55, age 60, age 65, age 70 and coverage ends at age 80. A traditional level term life insurance policy has both level (fixed) coverage amount and level premiums (fixed) for the whole term. Both the death benefit and premiums are do not change for the term you select.
Even at a standard (average) health class, a 60-year old can qualify for a $100,000 20-year level term life insurance policy from one of the nation’s top life insurance companies for $91 a month for a male and $64 month for a female with Banner Life. The same policy with AARP would be $171 a month for a male and $108 a month for a female. This is $100 month less than AARP and the rates are fixed and won’t go up as you get older unlike the AARP plan which increase as you get older. If you can do the 30-minute no-cost health exam can save your double or triple AARP or more since the insurance.
AARP Term Life Insurance- No Medical Exam
The major advantage for AARP’s term life insurance is that it does not require a paramedical exam. The majority of the top life insurance companies will require the 30-minute no-cost paramedical exam for $50k to $100k in order to receive a competitive rate.
However, the trade off is that the rates for AARP’s term life insurance are typically much more expensive than other term life insurance companies.
AARP Term Life Insurance for Seniors Rate Chart- Males
Below is the AARP term life insurance rate chart for senior males ages: 50 to 80 years old. These are the premiums the AARP term life insurance policy will automatically increase to as you enter each new age bracket: age 55, age 60, age 65 and age 70 as seen below in the chart. Coverage ends at age 80.
AARP Term Life Insurance for Seniors Rate Chart- Females
Below is the AARP term life insurance rate chart for senior females ages: 50 to 80 years old. These are the premiums the AARP term life insurance policy will automatically increase to as you enter each new age bracket: age 55, age 60, age 65 and age 70 as seen below in the chart. Coverage ends at age 80
Fine print below AARP term life insurance for seniors rate chart for men and women: “Your initial premium is based on your age at issue; premiums increase as you enter each five-year age band and will be based on current rates at that time.” Premiums are not guaranteed; however, your rates may change only if they are changed for all others in the same class of insureds. Age bands end at ages 75-79. Coverage ends at age 80.“
Is There A Waiting Period With AARP Term Life Insurance?
No, you are covered for the full policy amount from day one. The only exclusions are a suicide clause in the first two years as well as a two year contestability clause if you lied on your application.
This is the same with every term life insurance policy. You are covered from day one and there is no waiting period.
Is AARP Term Life Insurance Any Good?
Yes and no. AARP’s term life insurance is offered through New York Life Insurance Company which has the highest financial rating available and has been in business since 1845.
Also, AARP’s term life insurance does not require a medical exam and only a few health questions, as seen above.
However, the rates are expensive and are not fixed. They increase every five years.
If you are in average or better health and don’t mind doing a 30-minute no-cost medical exam at your home, you may be eligible for a much lower rate that is also fixed and won’t increase as you get older. This will not only save you money today but even more money as you get older.
Pro Tip: If you are between the ages of 50 to 70 years old and have had a physical with labs from your physician in the last 12 months, you may be eligible to skip the life insurance medical exam. Coverage is available from an A+ Superior rated life insurance company that offers $50,000 to $3 million; 10, 15, 20, 25 and 30 years without the exam for seniors 50-70 years old.
Bottom Line
As you can see in the AARP Term Life Insurance Rates by Age Chart, rates range $11 month up to $469 month depending on your age, gender and smoking status. The rates automatically increase every five years or when you reach the next age band. The coverage also expires at age 80.
AARP’s term life insurance product is called Level Benefit Term Life Insurance and is underwritten by New York Life Insurance Company which is one of the oldest, largest and and highest rated life insurance companies in the country. The approval process is simple, since there is no medical exam and only a three health questions (as well as a prescription database and MIB check).
However, the are two major drawbacks to the AARP term life insurance policy: cost and the fact the premiums are not fixed.
Additional Information
Since the AARP term life insurance product does increase every 5 years, many AARP term life insurance policy holders cannot afford the AARP policy as they get older since the rates increase so much (as seen in the charts above).
Also, since the AARP term life insurance policy does not require a medical exam and only asks three health questions, the rates are very expensive compared to what is available from other top rated life insurance companies, as seen in the table comparisons. The rates from other top life insurance companies are often $100 to $200 less per month for the same amount of coverage.
An often much better alternative to the AARP Level Benefit Term Life Insurance plan is to secure a level term life insurance policy from one of the other top term life insurance companies that offer both a fixed death benefit and a level term. This allows the policy holder to have the same fixed rate for the term they select, regardless of changes in age or health.
As you can see, if you are comparing AARP term life insurance rates for seniors compared to term life insurance rates for seniors from their competitors, AARP is not cheap. It is convenient since it does not require a medical exam, but expensive and only gets more expensive as you get older.
FAQ
Are AARP term life insurance rates fixed?
No. AARP’s term life insurance product is a step rate plan and the premiums increase every 5 years (as you enter each age band). The rates for each age band are seen in the tables above.
Why are my AARP term life insurance rates going up so high?
The AARP term life plan rates get more expensive as you get older since the monthly premiums are not fixed and there is minimal underwriting.
Does AARP’s term life insurance policy expire?
Yes. AARP’s term life insurance policy expires at age 80.
Does AARP term life insurance require a medical exam?
No, AARP term life insurance does not require a medical exam. The AARP application only requires: (3 health questions, a prescription database check and MIB check (Medical Information Bureau).
Does AARP’s term life insurance have any exclusions?
Yes. AARP has the same two exclusions that all life insurance policies have. 1. A two year suicide exclusion. This means if you commit suicide in the first two years the policy will not pay out. 2. During the first two years, AARP/New York Life reserves the right to cancel your insurance if your Enrollment Form contains material misrepresentations about your medical history.
Is AARP term life insurance a good deal?
AARP’s term life insurance through New York Life is not a good deal for most people, specifically for those that are in moderate to excellent health. These seniors can likely secure a term life insurance policy with a much lower monthly premium (about 2x to 3x) less per month and have the rate fixed for 10, 15, 20, 25 or 30 even 30 years compared to the AARP life insurance policy which automatically increases in premium every five years as you age. Also, since there is no medical exam to qualify with AARP and only a few health questions, the rates are much more expensive with AARP life insurance.
What is AARP life insurance rating?
AARP Life Insurance is underwritten by New York Life Insurance Company which has an A++ (Superior) financial rating and a perfect 100 out of 100 Comdex score.
How much is AARP term life insurance?
AARP term life insurance rates range from $11 month up to $469 month depending on your age, gender, health and tobacco usage. AARP’s term life insurance rates increase as you get older and enter each age bracket.
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