A strong financial security of your dear ones is an ever desirable aspect for most of us. Life insurance and annuity programs cater to different needs but serve for a common goal of each individual that of securing the future. AARP life insurance and annuity program from New York life is a convenient policy program that can be used to ensure future financial guarantee and also helps individuals to plan ahead for their future. AARP life insurance provides both term and whole life insurance services to let the policy holders to determine the kind of coverage they wish to take up.
Annuity programs are a perfect retirement savings plan that can help the insured to receive a steady flow of income each month without any hassles. Signing up for these services requires minimum formalities as they can be easily set up using key financial information. The long term benefits also include fixed income interest rates and also access to cash withdrawal without any hassles.
While both the life insurance and the annuity program are both useful to satisfy the requirements of people looking for financial coverage, it is also important to analyze the flip side while taking advantage of the positives from it. There is a great deal of information that can be compared online in order to decide on the best insurance policies. AARP life insurance and annuity program is by far one of the best in terms of financial guarantee and timely payment of interest on the principal.
Benefits provided by AARP life insurance and annuity program in comparison to other insurers:
- While the insurance company would promise an array of services that you consider beneficial, there should always be a sense of doubt and eye for market trends in order to avail best services. AARP life insurance and annuity program understands the basic expectations from the policy holders and therefore provides the best financial services in comparison to the industry players.
- Customized financial products find a unique place in the current markets. Every individual has different perceptions about financial coverage which is why the need for customized insurance schemes finds their acceptance on a large scale. AARP provides easy and customizable plans to the benefit of the people.
- In order to avail the benefits of AARP life insurance services, individuals are not required to take any physical test neither do they have to go through a series of health related questions. With a little investigation that is subjected to three to four questions related to health, one can be eligible to enroll into the many insurance schemes available.
- Term insurance schemes assure better protection than most other companies thereby giving AARP members the ultimate advantage. Term insurance can be extended to an age limit of up to 80 years which is quite close to a lifetime.
- Affordable premiums make life insurance programs most cost effective financial products offered by AARP and New York life.
- The annuity program provides better interest payout and a periodic guaranteed income to the retired people. The need for an additional retirement savings plan can be eliminated with the use of this program.
- Applying for loans will no longer be an arduous ritual since banking firms can readily accept the current insurance policy that you hold as collateral.
- AARP endorsed program come with an assurance that can provide a better financial security. AARP insurance and annuity is majorly aimed for people who are 50 or above in order to provide them easy and comprehensive benefits that last a life time.
- Life insurance services from AARP come with a “guaranteed acceptance” tag which assures benefits for those who have minor health problems.
Having understood the benefits of the AARP endorsed life insurance and annuity program, lets us also discuss some of the flaws or drawbacks.
Drawbacks:
- Every life insurance policy is observed as an essential financial tool to build up security. However, the savings aspect differs from one policy to the other. Term life insurance are far too expensive than the whole life insurance policy in long term perspective. With a limited time period and lower cash value, term life can be a bane as compared to other policies.
- The flexibility of conversion from one policy to other is limited in AARP life insurance and annuity program.
- The difference in affordability of whole life insurance and term life insurance is huge which can be a hindrance to the policy holders
Conclusion:
AARP endorsed life insurance products and annuity schemes are best suited to deliver the optimum financial security to people who are fifty and above. Guaranteed benefits makes AARP life insurance and annuity program one of the best financial services available for people. Choosing the best fitting insurance plan depending on the financial coverage that is required is important.
There are many different aspects that will deliver the right kind of benefits for the people who want to take charge of their lives. With limited budget, term benefits can be the ideal choice to get the benefit of life insurance.
Whole life insurance services can be availed at a lower premium and better cash flows after completion of the maturity. The withdrawal of the amount can be done with minimal formalities in order to gain better financial freedom. Annuity programs act as an ideal retirement program which can deliver the right benefits on a consistent basis.
Unlike savings accounts, the benefits accrued by people are higher when it comes to retirement plans provided by AARP retirement plans.
To get in touch with an insurance consultant and learn about the various choices you have, log on to the official web page www.nylaarp.com or contact 1-800-865-7927 for information on life insurance. For information about lifetime income program contact 1-800-590-1455 or can contact them at AARP life time income program at New York Life Insurance Annuity Corporation.
Choose a service that is best suited to your financial requirements and invest in the right insurance product of your choice today.
Visit Website : www.nylaarp.com