Shocking AARP Burial Insurance Review (Bad For Seniors 2023)
Posted in Final Expense Life Insurance Reviews last updated on January 3, 2023
AARP Burial Insurance Review
Summary
AARP is best for smokers as they don’t raise the price for smoking like most other companies. Non-smoker rates are higher with AARP than with other companies, however.
| Pros | Cons |
|---|---|
| ✅ Great smoker rates | ❌ High rates for non smokers |
| ❌ Term policy expires at age 80 | |
| ❌ AARP monthly membership fees |
If you are a senior you know about AARP. They are a trusted name in the business for many things for seniors, but are they the right company for burial insurance?
The truth is the best burial insurance company for seniors varies depending on your unique health conditions and lifestyle, such as smoking or not.
In this article we will go over sample prices for AARP’s burial insurance, when it makes sense for you, and other options for burial insurance.
If you want quotes from all of the top burial insurance companies in the industry, fill out our quote form or give us a call.
Table Of Contents
- AARP Burial Insurance Options
- AARP Term Life
- AARP Whole Life (With Health Questions)
- AARP Whole Life (Guaranteed Issue)
- Best Burial Insurance For Seniors
AARP Burial Insurance Options For Seniors
AARP actually has three different products for burial insurance that all serve a different purpose.
- Term Life – This product expires at age 80. You can get up to $100,000 in coverage.
- Whole Life (Health Questions) – Lasts for life but you must qualify. Up to $50,000 in coverage.
- Whole Life (Guaranteed Issue) – Everyone is guaranteed an issued policy, but it comes with a two year waiting period. Up to $25,000 in coverage.
AARP Term Life
This is their most marketed product and what you will usually see in the mail or on T.V.
- Age Range: 50-74
- Coverage Amount: $10,000-$100,000
- Premiums: Increase Every 5 Years
- Waiting Period: No
- States Available: All States
- AARP Monthly Membership Fees
The main concern about AARP’s flagship term life product for seniors is that it expires at age 80. The upside is term life is much cheaper than whole life products. This is because the vast majority of people will outlive the term.
With that being said, your premiums will still increase every 5 years, while the premiums for whole life policies will stay the same your whole life.
You also must qualify for their term product. They will look at medical and prescription records but there is no medical exam. Most people will still qualify for this policy if you are mostly healthy.
Below are some sample prices for their term product.
| Age | Male $10,000 | Female $10,000 | Male $50,000 | Female $50,000 |
|---|---|---|---|---|
| 50-54 | $14 | $11 | $45 | $29 |
| 55-59 | $18 | $13 | $65 | $38 |
| 60-64 | $24 | $17 | $94 | $58 |
| 65-69 | $31 | $21 | $128 | $81 |
| 70-74 | $42 | $33 | $184 | $141 |
Our Recommendation…
As you can see, these are very low prices compared to whole life. But there are other cheaper term life insurance options for you if term is what you want that don’t increase in price over time.
Furthermore, a term life insurance policy is never a good idea if your are using it to pay for your final expenses for your family. That vast majority of people will outlive the term and then your family is left with nothing.
We do not recommend the AARP term life product for any senior.
AARP Whole Life (With Health Questions)
- Age Range: 50-80
- Coverage Amount: $5,000-$50,000
- Premiums: Stay The Same
- Waiting Period: No
- States Available: All States
- AARP Monthly Membership Fees
This AARP whole life insurance product is reserved for healthier people with no significant health conditions. You must qualify for this as they will look at your medical and prescription records, but there is no medical exam.
It’s also important to note that with all whole life plans, the payout is guaranteed no matter how long you live. Since this product is also underwritten with health questions, if you do qualify there is no waiting period like other burial insurance policies. This means if you pass away a month after you start the policy they will stay pay out the full death benefit.
Below are some sample rates if you qualify for this product.
| Age | Male $10,000 | Female $10,000 | Male $25,000 | Female $25,000 |
|---|---|---|---|---|
| 50 | $33 | $25 | $79 | $60 |
| 60 | $48 | $37 | $118 | $89 |
| 70 | $79 | $63 | $195 | $155 |
| 80 | $123 | $100 | $306 | $248 |
Our Recommendation…
The biggest pro of AARP’s whole life product with health questions is they offer the same premiums to smokers and non smokers. This means they will charge the same premiums to non smokers which is very unusual in the burial insurance business. If you are a smoker you cannot go wrong with this policy as other companies will charge you more.
If you are healthy and don’t smoke, you can find better prices with other companies, such as Mutual Of Omaha or Foresters.
We recommend this AARP product only if you smoke and don’t have any health conditions that they would deny you for, such as COPD or heart problems. If you don’t smoke you can find better prices elsewhere.
AARP Whole Life Guaranteed Issue (No Health Questions)
- Age Range: 50-80
- Coverage Amount: $2,500-$25,000
- Premiums: Stay The Same
- Waiting Period: Yes, 2 Year Waiting Period
- States Available: All States Except WA and NJ
- AARP Monthly Membership Fees
AARP guaranteed issue is your typical burial insurance policy that has no health questions or medical exam but comes with a two year waiting period. If you die within the first two years they will only pay to your family what you’ve paid in with an additional 25% interest.
This product is nothing special when it comes to burial insurance. There are many companies out there that offer guaranteed issue burial insurance for seniors that are all competing for your business.
Below are sample rates for this product.
| Age | Male $10,000 | Female $10,000 | Male $20,000 | Female $20,000 |
|---|---|---|---|---|
| 50 | $45 | $38 | $88 | $74 |
| 60 | $60 | $52 | $119 | $103 |
| 70 | $85 | $76 | $168 | $150 |
| 80 | $106 | $96 | $210 | $191 |
Our Recommendation…
AARP’s guaranteed issue burial policy for seniors is nothing special on the market.
In fact, there are plenty of companies that beat their prices all the time for guaranteed issue policies. If you only qualify for guaranteed issue because you have some very serious health conditions there are plenty of companies to look at.
We do not recommend AARP’s guaranteed issue burial insurance product for any senior.
Best Burial Insurance For Seniors
There are hundreds of burial insurance companies across the U.S. all competing for your business. Don’t you want to know which one offers you the best price?
The truth is, AARP is only good for a certain specific niche of people. Smokers who are healthy. That’s it.
Since that is such a small portion of the population we do not recommend AARP unless you are one of those people. There are plenty of companies out there that offer you a better price for more insurance payout.
The secret to finding the best price is working with an independent agency such as Seniors Mutual that will shop the market for you among many different companies. Best of all, our services are FREE! You pay nothing more by working with an independent agency.
If you want sample prices from all of the top companies in the business, fill out our quote form or give us a call. Getting approved for burial insurance only takes 10 minutes, and we can put as much money back in your pocket as possible and give you and your family peace of mind for life.
2 Comments
Julie kasper
I need information about burial insurance.
Kelly Maxwell
Hi Julie, we emailed you some more information! We hope to hear from you 🙂