Switch from term to permanent life coverage

with your Guaranteed Exchange Option

See if I'm eligible

Log in or create your account
and see if you're eligible to exchange.

Why exchange? See how your current term life insurance and AARP Permanent Life from New York Life compare. Then decide if now is the right time for you to switch.1

AARP Term Life AARP Permanent Life
Important protection for your loved ones
Coverage that can last for life, with higher initial rates that will never go up ‐ guaranteed
Important coverage that can last until age 80, with rates that increase over time
Builds cash value over time you can borrow against2
Part of the AARP Life Insurance Program from New York Life ‐ a company you trust

These permanent rates are locked in at your age when you exchange...
so they'll never be lower than they are right now.

Questions about exchanging your coverage?
See Frequently Asked Questions for answers.

1 If you are currently in a nursing home, you must wait until age 80 to exchange.
2 Loans accrue interest and decrease the death benefit and cash value by the amount of the outstanding loan and interest. Accumulated premiums may exceed the death benefit over a certain period of time.

Living Benefit: Please note that receipt of “living benefit” (accelerated death benefit) insurance proceeds may affect your eligibility for public assistance programs. Proceeds may be taxable. You may wish to consult your financial adviser and/or attorney to determine how this may affect your personal situation. Premiums will be lower when the benefit amount decreases by one-half.

Florida Residents: In order to protect against the unintended cancellation of your life insurance coverage, you have the opportunity to have copies of lapse notices sent to another individual whom you designate. A designation form for this will be included with your Certificate of Insurance. If relevant statements of age or facts are not accurate, New York Life will make a fair adjustment of premiums and/or insurance. Jason Montgomery is a licensed Florida agent for service to Florida residents.

Texas Residents: Death Benefits, Cash Values and Loan Values will be reduced if a ‘living benefit’ (accelerated death benefit) is paid. The acceleration of life insurance benefits offered under this certificate is intended to qualify for favorable tax treatment under the IRC of 1986. If these benefits qualify for favorable tax treatment, the benefits are excludable from your income and not subject to taxation. You are advised to consult with a qualified tax advisor about circumstances under which you could receive acceleration of life insurance benefits excludable from income under federal law. Receipt of acceleration of life insurance benefits could also affect your and your family’s eligibility for public assistance programs (Medicaid, AFDC, SSI, or drug assistance). You are advised to consult with a qualified tax advisor and with social service agencies to determine how receipt of these benefits will affect your eligibility for public assistance. Premiums will be lower when the benefit amount decreases by one-half.