At Joseph & Eugene we speak to people with life insurance issues on a regular basis. Certain life insurance companies seem to come up more often than others. One such company is AARP. They claim to be “a nonprofit, nonpartisan membership organization for people age 50 and over … dedicated to enhancing quality of life for all as we age,” which “provides a wide range of unique benefits, special products, and services for our members.” AARP provides their life insurance policies through New York Life.
These life insurance policies are usually easier to obtain through AARP than through other life insurance companies. This is because AARP has less stringent underwriting policies. As stated by Richard Hisey, President of AARP Financial, “They’re for the person who doesn’t want to go through the underwriting process, is comfortable doing business through the mail, and knows they are unlikely to be turned down for this insurance.”
While this makes it easier for someone to obtain life insurance, it comes with a cost. Since AARP will approve more risky cases for life insurance that would otherwise be declined through tougher underwriting standards they have to balance the risk by other means. They do this by having higher premium payments and by declining any cases that are not clear cut.
If your case has been declined by AARP do not give up! Call our experienced life insurance attorneys today. We will review your case at no cost. Often times we have been able to recover life insurance payments for our clients even after they have been denied their benefits.
For further reading, a good consumer website with reviews on insurance companies is: http://www.consumeraffairs.com/insurance/aarp_life_insurance.html