FAQs
Learn more about life insurance products, managing your coverage and
account, filing claims, and find answers to other common questions.
Contract management
Please see below for all contract status definitions.
Inforce – Contract is active.
Lapse – Contract is no longer active and premiums are past due.
Cancelled – Contract is not active because no payments have been received.
Cash Surrender – Contract holder voluntarily surrenders contract before maturity date and any accumulated cash value or pre-paid premiums are paid to contract holder.
30-Day Cancel – Contract holder cancels during Free Look Period (first 30 days) and premiums are refunded.
Reduced Paid-Up – The cash value from a permanent life contract is used to purchase a lower face coverage amount – which is paid in full (paid up).
Extended Term – When the accumulated cash value in a permanent life contract is used to pay the term coverage amount for a specified period of time to keep the contract active.
Exchanged – A term life contract that has been exchanged for a permanent life contract.
Expired – A term life insurance contract that has ended (expired)
Matured Contract – A permanent life contract where the “termination” age is reached. For example, if you are 105 years old, you may be able to request the cash value of your policy.
Paid Up – Contract is paid in full. No more premium payments are due.
Claim Filed – A first notice of death has been filed. For example, a beneficiary notifies insurance company of contract holder’s death and requests to collect contract coverage amount.
Inforce – Contract is active.
Lapse – Contract is no longer active and premiums are past due.
Cancelled – Contract is not active because no payments have been received.
Cash Surrender – Contract holder voluntarily surrenders contract before maturity date and any accumulated cash value or pre-paid premiums are paid to contract holder.
30-Day Cancel – Contract holder cancels during Free Look Period (first 30 days) and premiums are refunded.
Reduced Paid-Up – The cash value from a permanent life contract is used to purchase a lower face coverage amount – which is paid in full (paid up).
Extended Term – When the accumulated cash value in a permanent life contract is used to pay the term coverage amount for a specified period of time to keep the contract active.
Exchanged – A term life contract that has been exchanged for a permanent life contract.
Expired – A term life insurance contract that has ended (expired)
Matured Contract – A permanent life contract where the “termination” age is reached. For example, if you are 105 years old, you may be able to request the cash value of your policy.
Paid Up – Contract is paid in full. No more premium payments are due.
Claim Filed – A first notice of death has been filed. For example, a beneficiary notifies insurance company of contract holder’s death and requests to collect contract coverage amount.
To change the contract owner, download a Change Owner Form. Print the form,
sign date and mail to:
New York Life Insurance Company, AARP Operations
P.O. Box 30712
Tampa, FL 33630-3712
New York Life Insurance Company, AARP Operations
P.O. Box 30712
Tampa, FL 33630-3712
To update your address or phone number, log in to your account, and then select
the “My Account” link in the top navigation and select, Contact information.” Fill in
your new phone and/or address information and click “Save” to finalize the change.
To view the cash surrender value of a contract, log in to your account, then select
“View details” on the policy you want this information for. The current cash
surrender value, if any, is listed under the Coverage Summary section of your
policy details page.
To discuss the coverage options currently available to you, call New York Life at
(800) 850-2658.
The Customer Experience Team is available to assist you from Monday - Friday:
8 a.m. to 8 p.m. (ET)
To learn more and apply for additional coverage online, click here.
The Customer Experience Team is available to assist you from Monday - Friday:
8 a.m. to 8 p.m. (ET)
To learn more and apply for additional coverage online, click here.
Questions about your coverage?
Current customers can log in or create a new account to view coverage
details and manage their payments, beneficiaries, and more.