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3.25/5
Overall Score

Choice Mutual’s ratings are determined by a review formula that weights the following four factors to determine a score between 0 and 5:

Factor Score Value
Price of Coverage
40%
No-Waiting-Period CoverageNo Waiting Period
20%
Financial Strength
20%
NAIC Complaint Index
20%
Overall Maximum
100%

Our ratings are tested with scoring model 1.1, a review formula that ensures consistency and accuracy in our assessments.

Rating methodology
Score Breakdown
Price of Coverage
Price of Coverage
40% of overall score

Using this quote calculator, we compare the price of the insurer’s coverage to competitors with equivalent products. The score they receive is based on how close their price is to those three least expensive providers:

  • 5
    0-5% more expensive
  • 4
    6-10% more expensive
  • 3
    11-20% more expensive
  • 2
    21-30% more expensive
  • 1
    ≥ 40% more expensive
Price audit
3.0
No-Waiting-Period CoverageNo Waiting Period
No-Waiting-Period Coverage
20% of overall score

This scoring factor assesses whether an insurer offers coverage with no waiting period and, if so, how difficult it is to qualify for it. If an insurer does not provide coverage with no waiting period, it gets an automatic 1. A score from 2 to 5 indicates that immediate coverage is possible, and the higher the rating, the easier it is for the average applicant to qualify for it.

  • 5
    Most applicants qualify
  • 4
    Fairly easy qualification
  • 3
    Somewhat difficult qualification
  • 2
    Very difficult qualification
  • 1
    No-waiting-period coverage unavailableNo-waiting-period unavailable
2.0
Financial Strength
Financial Strength
20% of overall score

Our financial strength scores are based on A.M. Best’s Financial Strength Ratings (FSR), which measure an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The scores they receive are based on the following scale:

  • 5
    Superior (A+ or A++)
  • 4
    Excellent (A- to A)
  • 3
    Fair/Good (B- to B++)
  • 2
    Weak/Marginal (C- to C++)
  • 1
    Poor (D or Not Rated)
5.0
NAIC Complaint IndexNAIC Complaints
NAIC Complaint Index
20% of overall score

The NAIC (National Association of Insurance Commissioners) complaint index measures how frequently an insurer obtains consumer complaints relative to a median score across all insurers. Our scoring model is based on an insurer’s NAIC complaint index for the most recently available year and for ‘Individual Life’ products:

  • 5
    0.0 - 1.0 (avg or below avg complaints)
  • 4
    1.01 - 1.5 (slightly above avg complaints)
  • 3
    1.51 - 2.0 (up to 2x avg complaints)
  • 2
    2.01 - 3.0 (up to 3x avg complaints)
  • 1
    ≥ 3.01 (more than 3x avg complaints)
5.0
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Our Verdict

For most people, but not all, AARP burial insurance is not the best investment. The prices seem reasonable, but there are concrete reasons to opt for other providers if you need a final expense policy.

Regardless of which type of life insurance you want (term life, whole life, or guaranteed acceptance), the primary problem is that AARP funeral insurance is often more expensive than other final expense insurance companies.

For example, below is a side-by-side cost comparison for a $25,000 no-waiting period whole life policy for a 70-year-old female who does not use tobacco.

  • Transamerica: $126.79
  • Mutual of Omaha: $128.29
  • AARP: $148.00

The other big issue is that while AARP offers life insurance with no waiting period, consumers often report it’s difficult to obtain. To get immediate coverage, you have to apply for one of their policies that asks about your health history. Based on feedback from real customers who applied with them, AARP seems to deny most applicants with pre-existing conditions. Instead, they counter by offering a policy with a two-year waiting period and a much higher premium.

If you need insurance to cover your funeral expenses, many other providers, such as Mutual of Omaha, Aflac, and Aetna, among others, offer lower prices and no waiting period. That is especially true if you’ve experienced prior health issues.

However, it’s not all bad. For example, AARP allows policyholders to manage their coverage online and offers small amounts of term life insurance (as low as $10,000), which is uncommon in the life insurance industry. Additionally, prices for females aged 50-60 are very competitive for seniors aged 80 (no coverage is available for those aged 81 and above).

Pros

  • You can see quotes and buy online.
  • No medical exam is required to qualify.
  • Policies are underwritten by New York Life, which holds the highest possible financial ratings.

Cons

  • It is very hard to qualify for no waiting period coverage.
  • Rates are higher than most of their competitors.
  • There are no options for seniors over 80.

A.M. Best
A+
Superior
Moody's
Aaa
Stable
S&P Global
AA+
Stable

AM Best’s Financial Strength Rating (FSR) is an independent opinion of an insurer’s financial strength and ability to meet its ongoing insurance policy and contract obligations. The scores range from A++ to D-.

Moody’s Investors Service rates the creditworthiness of companies. The Moody’s Rating Scale has 21 possible scores ranging from “Aaa” (highest mark) down to “C” (lowest mark).

S&P Global Inc. issues credit ratings on a scale from “AAA” (highest rating) to “D” (lowest rating).

Customer Review Ratings
BBB
1.08/5
293 reviews
Trustpilot
1.9/5
18 reviews
Google
3.9/5
52 reviews
Yelp
1.6/5
50 reviews
Consumer Protection Organization Scores
NAIC Complaint Index
.13
BBB Score & Accreditation
A+
Not Accredited

The Complaint Index compares a company’s performance to other companies in the market. The National Complaint Index is always 1.00. That means a company with a complaint index of 2.00 is twice as high as expected in the market. Reported scores are for the most recently available year and for “Individual Life” products.

The BBB rating is based on information BBB is able to obtain about the business, including complaints received from the public. BBB seeks and uses information directly from businesses and from public data sources. BBB assigns ratings from A+ (highest) to F (lowest). If a business has been accredited by the BBB, it means BBB has determined that the business meets accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints.

Ratings and scores valid as of 05/27/2025.
    Policy Type
    Whole Life
    New Applicant Age Range
    50-80
    Death Benefit Options
    $5,000-$50,000
    States Where Available
    All
    Builds Cash Value
    Yes
    Has Health Questions
    Yes
    2-Year Waiting Period
    No
    Medical Exam Required
    No
    Age When Policy Expires
    Never
    Prices Increase
    Never
    Terminall Illness Rider
    No
    Policy Type
    Whole Life
    New Applicant Age Range
    50-80
    Death Benefit Options
    $5,000-$30,000
    States Where Available
    All
    Builds Cash Value
    Yes
    Has Health Questions
    No
    2-Year Waiting Period
    Yes
    Medical Exam Required
    No
    Age When Policy Expires
    Never
    Prices Increase
    Never
    Policy Type
    Term Life
    New Applicant Age Range
    50-74
    Death Benefit Options
    $10,000-$150,000
    States Where Available
    All
    Builds Cash Value
    No
    Has Health Questions
    Yes
    2-Year Waiting Period
    No
    Medical Exam Required
    No
    Age When Policy Expires
    80
    Prices Increase
    Every 5 years

    How Does AARP Final Expense Life Insurance Work?

    AARP final expense insurance from New York Life offers three types of policies: Term life, permanent whole life, and guaranteed acceptance whole life. All plans don’t require a medical exam, and the payout is always a tax-free cash benefit to your loved ones, which they can use for any purpose (not just funeral expenses).

    • Guaranteed issue: The guaranteed acceptance option is a whole life policy with no health questions. There is no underwriting, so you’re guaranteed approval regardless of any pre-existing conditions. Because there are no health questions, there’s a two-year waiting period before you’re insured for natural causes of death. Any non-accidental death during the first two years will only result in a refund of your premiums. The premiums will not increase over time, and the coverage lasts your entire life.
    • Permanent whole life: This whole life policy is permanent life insurance with a fixed premium. To qualify, you must complete a health questionnaire. If you’re approved, there is no waiting period. There’s also an option (for an additional cost) to buy this policy with “living benefits” that would allow you to access up to 50% of the death benefit if you develop a chronic illness for at least 90 days. Because it’s whole life insurance, the premium and death benefit will never change. Also, the coverage lasts forever.
    • Term life: Term life insurance is the most common type of policy AARP promotes. The price increases every five years, and when you reach 80, the policy ends, and you don’t receive a refund of your premium. Eligibility is based on your past health conditions.

     

    How Much Does AARP Burial Insurance Cost?

    The cost of an AARP burial insurance policy can range from as low as $12 per month to as high as $500 per month. AARP life insurance rates are determined by factors such as age, gender, coverage amount, state of residence, type of policy, and health history.

    Age & Gender$10,000$25,000
    Female age 50$33$79
    Male age 50$44$109
    Female age 55$38$93
    Male age 55$50$124
    Female age 60$44$109
    Male age 60$60$148
    Female age 65$52$127
    Male age 65$70$172
    Female age 70$64$159
    Male age 70$84$208
    Female age 75$88$131
    Male age 75$111$276
    Female age 80$112$278
    Male age 80$144$358
    Source for monthly prices: Choice Mutual quote calculator. Data retrieved on 05/28/2025.
    Age & Gender$10,000$25,000
    Female age 50$24$55
    Male age 50$33$77
    Female age 55$30$68
    Male age 55$42$99
    Female age 60$36$83
    Male age 60$50$118
    Female age 65$47$109
    Male age 65$62$150
    Female age 70$62$148
    Male age 70$81$196
    Female age 75$79$193
    Male age 75$100$246
    Female age 80$92$225
    Male age 80$122$301
    Source for monthly prices: Choice Mutual quote calculator. Data retrieved on 05/28/2025.
    Age Bracket & Gender$10,000$25,000
    Female 50-54$11$18
    Male 50-54$14$26
    Female 55-59$13$22
    Male 55-59$18$36
    Female 60-64$17$32
    Male 60-64$24$50
    Female 65-69$21$44
    Male 65-69$31$67
    Female 70-74$33$74
    Male 70-74$42$95
    The monthly price increases every time you enter a new age bracket.
    Source for monthly prices: Choice Mutual quote calculator. Data retrieved on 05/28/2025.

     

    AARP prices compared to 10 competitors for a $10,000 policy

    50
    50 55 60 65 70 75 80 85
    Transamerica
    24.23
    Mutual of Omaha
    24.31
    TruStage
    27.00
    Foresters Financial
    26.05
    AARP
    24.00
    Aflac
    26.98
    Aetna
    27.30
    Physicians Mutual
    34.50
    State Farm
    34.82
    Colonial Penn
    49.75
    $0

    Source for monthly prices: Choice Mutual Quote Calculator. Rates are for a whole life policy calculated at a non-tobacco rating and are valid as of 07/09/2025.

     

    How Does AARP Final Expense Insurance Stack Up vs Other Insurance Providers?

    While AARP is undoubtedly better than companies like Globe Life or Colonial Penn, they are usually beaten (in terms of value) by most final expense insurance companies.

    0.75/5
    Overall Score

    Choice Mutual’s ratings are determined by a review formula that weights the following four factors to determine a score between 0 and 5:

    Factor Score Value
    Price of Coverage
    40%
    No-Waiting-Period CoverageNo Waiting Period
    20%
    Financial Strength
    20%
    NAIC Complaint Index
    20%
    Overall Maximum
    100%

    Our ratings are tested with scoring model 1.1, a review formula that ensures consistency and accuracy in our assessments.

    0.75/5
    • $10K Policy Cost $79.60/month*
    • New Applicant Ages 50-85 (50-75 in NY)
    • Death Benefit Options 1-25 Units
    • 2-Year Waiting Period Yes
    See Prices Read Colonial Penn review
    4.75/5
    Overall Score

    Choice Mutual’s ratings are determined by a review formula that weights the following four factors to determine a score between 0 and 5:

    Factor Score Value
    Price of Coverage
    40%
    No-Waiting-Period CoverageNo Waiting Period
    20%
    Financial Strength
    20%
    NAIC Complaint Index
    20%
    Overall Maximum
    100%

    Our ratings are tested with scoring model 1.1, a review formula that ensures consistency and accuracy in our assessments.

    4.75/5
    • $10K Policy Cost $41.01/month*
    • New Applicant Ages 45-85
    • Death Benefit Options $2,000-$50,000
    • 2-Year Waiting Period No
    See Prices Read Mutual of Omaha review
    3.25/5
    Overall Score

    Choice Mutual’s ratings are determined by a review formula that weights the following four factors to determine a score between 0 and 5:

    Factor Score Value
    Price of Coverage
    40%
    No-Waiting-Period CoverageNo Waiting Period
    20%
    Financial Strength
    20%
    NAIC Complaint Index
    20%
    Overall Maximum
    100%

    Our ratings are tested with scoring model 1.1, a review formula that ensures consistency and accuracy in our assessments.

    3.25/5
    • $10K Policy Cost $43.99/month*
    • New Applicant Ages 45-80
    • Death Benefit Options $2,000-$50,000
    • 2-Year Waiting Period No
    See Prices Read Aflac review

    *Policy costs are for a 65-year-old female non-tobacco user

     

    Remember that the best burial insurance companies are typically available only through independent insurance agencies rather than being sold directly by the insurer.

    Independent insurance agents, also known as “brokers,” compare policies from multiple burial insurance companies for their clients to find the best possible deal.

    Dealing directly with insurers like New York Life, Colonial Penn, or TruStage typically results in higher prices (and often a waiting period).

    If you’re looking for burial insurance or life insurance for any reason, it’s advisable to find a reputable independent broker. Tell them what you’re looking for so they can find you the best policy.

     

    Frequently Asked Questions

    AARP membership does not automatically include a benefit that covers end-of-life expenses. However, AARP does sell life insurance options that can cover cremation and burial costs. According to the National Funeral Directors Association, the average cost of a funeral is $8,300. A final expense policy from AARP can offset funeral and other final expenses.

    Only the AARP guaranteed acceptance whole life insurance policy has a waiting period. If you die during the first two years, your loved ones will only receive 110% of the premiums you’ve paid. If you buy a simplified issue AARP policy, there is no waiting period (if approved) because your eligibility is based on your past and current health status.

    All AARP life policies can be used as cremation insurance. AARP life insurance policies pay out a tax-free cash benefit to your beneficiaries, which can be used to pay for cremation or other final expenses.

    AARP offers members access to exclusive insurance policies, product discounts, and other benefits, but it does not assist with funerals, help pay for them, or with preplanning. At best, AARP can sell you life insurance plans, which do provide peace of mind knowing the policy can be used to pay for cremation costs or burial expenses.

    Only AARP term policies increase in cost every five years. On the other hand, AARP’s whole life insurance coverage has a fixed price for your entire life.

    Anthony Martin
    Anthony Martin
    Choice Mutual CEO
    Author
    • Nationally licensed life insurance agent with over 15 years of experience
    • Personal annual production that puts him in the top .001% out of all life insurance agents in the nation.

    Anthony Martin is a nationally licensed insurance expert with over 15 years of experience and has personally served over 10,000 clients with their life insurance needs. He frequently authors entrepreneurial and life insurance content for Forbes, Inc.com, Newsweek, Kiplinger, and Entreprenuer.com. Anthony has been consulted as an expert life insurance source for dozens of high-profile websites such as Forbes, Bankrate, Reuters, Fox Business, CNBC, Investopedia, Insurance.com, Yahoo Finance, and many more.

    Jeff Root
    Jeff Root
    Life Insurance Expert
    Editor
    • Nationally licensed life insurance agent with over 19 years of experience
    • Best selling Amazon author.

    Jeff Root is a nationally licensed life insurance expert with over 19 years of experience. He has personally helped over 3000 clients with their life insurance needs. Jeff is a best-selling Amazon author and the managing partner of a highly successful insurance brokerage that manages over 2,500 licensed insurance agents across the USA. He has been a featured life insurance source for prestigious websites such as Forbes, Bloomberg, MarketWatch, Nerdwallet, and many more.

    David Duford
    David Duford
    Life Insurance Expert
    Editor
    • Nationally licensed life insurance agent with over 14 years of experience
    • Best selling Amazon author of five insurance sales books.

    David Duford is a nationally licensed insurance expert with over 14 years of experience. He has personally helped more than 15,000 clients buy life insurance. David has been featured as an expert source for highly authoritative publications such as A.M. Best and Insurancenewsnet. He also runs one of the largest Youtube channels to help aspiring insurance agents serve their clients better.

    Jeff Root
    Jeff Root
    Life Insurance Expert
    Editor
    • Nationally licensed life insurance agent with over 19 years of experience
    • Best selling Amazon author.

    Jeff Root is a nationally licensed life insurance expert with over 19 years of experience. He has personally helped over 3000 clients with their life insurance needs. Jeff is a best-selling Amazon author and the managing partner of a highly successful insurance brokerage that manages over 2,500 licensed insurance agents across the USA. He has been a featured life insurance source for prestigious websites such as Forbes, Bloomberg, MarketWatch, Nerdwallet, and many more.

    David Duford
    David Duford
    Life Insurance Expert
    Editor
    • Nationally licensed life insurance agent with over 14 years of experience
    • Best selling Amazon author of five insurance sales books.

    David Duford is a nationally licensed insurance expert with over 14 years of experience. He has personally helped more than 15,000 clients buy life insurance. David has been featured as an expert source for highly authoritative publications such as A.M. Best and Insurancenewsnet. He also runs one of the largest Youtube channels to help aspiring insurance agents serve their clients better.

    Choice Mutual often cites third-party websites to provide context and verification for specific claims made in our work. We only link to authoritative websites that provide accurate information. You can learn more about our editorial standards, which guide our mission of delivering factual and impartial content.

    1. guaranteed acceptance option. https://www.nylaarp.com/life-insurance/guaranteed-life
    2. whole life policy. https://www.nylaarp.com/life-insurance/permanent
    3. living benefits. https://www.nylaarp.com/life-insurance/permanent-living-benefits
    4. Term life insurance. https://www.nylaarp.com/life-insurance/term/protection
    5. National Funeral Directors Association. https://nfda.org/news/media-center/nfda-news-releases/id/8134/2023-nfda-general-price-list-study-shows-inflation-increasing-faster-than-the-cost-of-a-funeral
    6. A.M. Best. https://ratings.ambest.com/CompanyProfile.aspx?ambnum=6820&AltNum=17026820
    7. Moody's. https://www.moodys.com/research/null-Moodys-affirms-Aaa-ratings-of-Northwestern-Mutual-and-New-York-Rating-Action--PR_1000008574#RATINGS-RATIONALE
    8. S&P Global. https://www.newyorklife.com/newsroom/Company-strength-ratings-affirmed-2023
    9. BBB. https://www.bbb.org/us/ny/new-york/profile/insurance-companies/new-york-life-insurance-company-0121-349
    10. Trustpilot. https://www.trustpilot.com/review/www.newyorklife.com
    11. Google. https://www.google.com/search?client=firefox-b-1-d&sca_esv=193f1ef4569f6575&sca_upv=1&q=New+York+Life+Insurance+Company&ludocid=11889585487692568853&lsig=AB86z5V1SwFA1nblUCqKyU6DWO4G&sa=X&ved=2ahUKEwjIj8qA3vyGAxXHATQIHSpwC4YQoAJ6BAglEAw&biw=1920&bih=878&dpr=1#lrd=0x89c258e913690e0f:0xa5004b01e08e1915,1,,,,
    12. Yelp. https://www.yelp.com/biz/new-york-life-insurance-company-new-york-2
    13. NAIC Complaint Index. https://content.naic.org/cis_refined_results.htm?TABLEAU=CIS_COMPLAINTS&COCODE=91596&REALM=PROD&COCODE=91596&REALM=PROD
    14. BBB Score & Accreditation. https://www.bbb.org/us/ny/new-york/profile/insurance-companies/new-york-life-insurance-company-0121-349
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