Deciding which coverage to purchase can be one of the most common, personal and difficult questions when buying life insurance. To start, consider what expenses you’d like the coverage to help pay for, who you’d like to protect, and how much you can afford.

Then, explore which life insurance product may be right for you.

Term life insurance: Higher coverage amounts available for needs that may not require lifetime protection. Coverage lasts until age 80 with lower initial rates that increase over time.

Permanent life insurance: Lifetime protection with rates that do not increase.

Guaranteed acceptance life insurance: Lifetime coverage without health questions, with lower available coverage amounts and limited benefits during the first two years.

Yes, you can fast-track your application when you apply online. View personalized quotes instantly and complete a secure, straightforward application.

No, you don’t need to see a doctor or take any medical tests. Approval is based on your health information.

Both types of insurance were created to help protect the financial well-being of your beneficiaries when you pass away. And although they share the same goal, there are some significant differences between the two.

For example, term life insurance offers protection until coverage ends at age 80 with rates that are lower initially and increase over time. While permanent life insurance (also referred to as whole life insurance) offers lifelong protection with rates that don’t typically increase.

Yes. Access your free, no-obligation quote — even if you're not an AARP member yet. Membership is required for coverage, and you can quickly and easily apply online for life insurance from New York Life and join AARP at the same time.