Frequently asked questions
Does my life insurance cover the coronavirus?
Yes — please rest assured, as long as the information you provided when you applied was accurate and payments are up-to-date, life insurance offered through the AARP Life Insurance Program from New York Life will pay benefits if coronavirus results in death. There’s one exception: the Accidental Death Benefit (ADB) Rider only pays benefits when death results from an accident.
- *Reminder for customers with AARP Easy Acceptance Life or AARP Guaranteed Acceptance Life: this coverage has a two-year limited benefit period. To see how your benefit is payable, please see "What Benefit Is Payable" in your contract.
What if I can’t mail my payment?
Staying home, safe, and healthy is what's most important. Please use this time to take advantage of any of the alternative payment options available. Just select the one that’s most convenient for you:
- Visit nylaarp.com/service then click One-Time Payment
- Sign up for AutoPay and have payments automatically debited from your banking account each month; just create or log in to your online account and select Manage Payments
- Call New York Life at (800) 610-3398 and say “Make a payment” when prompted
What if I can’t pay my premium right now?
Many people have been affected financially by this crisis, and we’re here to help you. If you’re not able to pay your premium at this time, please call New York Life at (800) 610-3398 to review the options you have available. The Customer Experience Team is available from 8 a.m. to 8 p.m., Monday through Friday, and 9 a.m. to 5 p.m., Saturday (Eastern Time).
How can I review or update my contract information (like my beneficiaries, payments, or contact information)?
Our online and automated self-service options are available for nearly all transactions you may need to make. You can just create or log in to your online account to manage your life insurance when you want, at your convenience. This is especially helpful while our call volumes may be high, and waiting to speak with a Customer Experience Team member could take longer than usual.
How is your company prepared to respond to the coronavirus situation?
Our ways of working: one of our top priorities is to be here when you need us. To keep our employees healthy and available to serve you, we’ve implemented work-from-home solutions for the majority of the company. This is to minimize the impacts to service for you, and provide the safest environment possible for our team.
Our financial strength and stability: New York Life has been protecting people and their loved ones for 175 years. We have continued to deliver on our promises to customers through the Yellow Fever epidemics in the 19th century, the great pandemic of 1918, two world wars, the Great Depression, and the Financial Crisis of 2008-2009. An important part of our foundation is that we are a mutual company – which means we’re owned by our policyholders, and not by Wall Street. So even with everything as uncertain as it seems at this time, you can rest assured that you’ve chosen a strong, financially sound, and resilient partner to help make your financial future more secure.