What is Aarp Life Insurance?

As most of us would have experienced or witnessed some accident or trauma we all know the advantage of having an insurance policy against such mishaps, especially given the state of our society now. Our very future is uncertain – you never know when you are going to be a victim of a drunk driver or a terrorist. In order to provide for your family in case of some such unforeseen calamity, aarp life insurance is one of the best available options. It is a comprehensive policy offered by the New York Life Insurance Company, which has been selected by the AARP – the American Association of Retired Persons for this purpose. It requires no medical checkup and the policy buyer has to just answer three simple health related questions before he is covered under his chosen policy.

Also there is no waiting period involved for most of the policies. From the moment of the policy buyer getting enrolled, he is covered under his purchased policy. An aarp life insurance policy cannot be cancelled without the explicit consent of the policy holder unless there is defaulting on his premium payments or there are misrepresentations in his data at the time of the policy purchase. At any time, in cases of rate increase the policy holders automatically get a 30 day review period where you can cancel the policy with no prejudice and avail a full refund of premiums paid till date.

A permanent life insurance policy under this program can be paid off to a surviving policy holder at 95 years of age. With memberships crossing 35 millions, this non-profit organization has become a very powerful lobby to be reckoned with, benefiting many people in their later stages of life. The organization also provides medical insurance cover to its members. Though a life insurance policy is neither a savings tool nor an investment opportunity, it has become essential to offset a family’s financial problems in case of unexpected death or accident of its bread winner.

It is always better to take the advice and guidance of an experienced Canadian broker to choose the most beneficial aarp life insurance plan as he will be better informed of the prevailing market practices and advantages that come with various plans. For instance your broker can and will inform you of the prevailing rates whereas an insurance company does not have to and so will not do so. There have been instances where a policy holder has been paying more he had to because he was ignorant of the changes in rates. Also not many people may be aware that from 1999 onwards there have been preferred policies available for non-smokers with a healthy lifestyle at very low costs. Also there are some insurance companies that are ready to pay smokers the difference between a smoker’s policy and a non-smoker’s one, if they quit smoking for at least 12 months. Such details and offers can benefit you only with the counsel of an insurance broker.