AARP Life Insurance and Medicare Insurance: An Overview

AARP Life Insurance and Medicare Insurance: An OverviewThe American Association of Retired Persons (AARP) boasts amembership of over thirty five million people aged fifty yearsand older. The massive non-profit organization is recognized asa political advocacy powerhouse whose influence seems to growalong with the "graying" of America. AARP, however, does notlimit itself exclusively to legislative lobbying for itsmembership demographic; it also (in conjunction with establishedcompanies) provides insurance opportunities to its members. Twoof these products include AARP life insurance and AARP Medicarehealth insurance.AARP Life InsuranceFor well over ten years, AARP has been offering whole and termlife insurance policies to its members in association with theNew York Life. The AARP life insurance program offers plansfeaturing premiums touted as "affordable" that are specificallydesigned for people age fifty and older. Coverage amounts vary,with policies being available with benefits ranging from only afew thousands of dollars to fifty thousand dollars.AARP life insurance is available to any AARP member between theages of fifty and eighty. Spouses of AARP members may alsoreceive coverage, so long as they are forty-five years of age orolder. AARP life insurance does not require a medical exam.According to AARP, approval is based on answers to "three simplehealth questions." Policies can be applied for via mail and theprogram touts the ease of application and approval as two of itsstrengths.AARP Medicare InsuranceAARP offers a health insurance policy designed to supplement thecoverage provided by Medicare. This "Medicare SupplementInsurance" is offered in association with United HealthCareInsurance Company. Premised on the notion that Medicaregenerally covers slightly more than half of an individual'shealth care expenses, AARP's Medicare health insurance planseeks to provide a means by which to cover costs such asco-insurance, deductibles and prescription medications.AARP's Medicare health insurance program allows members tocontinue utilization of their own physicians and is promotedwith a focus on its ease of use, as well as its coverage. Forinstance, AARP members using this supplementary insurance plansare not required to fill out claim forms and the coverage isvalid across the U.S., making it available for use whentraveling and in other similar circumstances. According to AARP,rates for this insurance product are not increased based on agealone. Individuals are not to be "singled out" for rateincreases, either. Rate changes are applied to all members of amatching class insured under the plan and residing in the samestate.AARP is one of America's largest organizations and is one of itsmost politically powerful. In addition to using its membershipto wield political clout, AARP has also used its massivemembership as a group for insurance purposes. Teaming up withestablished providers like New York Life and United HealthCare,AARP offers its members insurance packages ranging from AARPlife insurance to AARP Medicare supplementary health insurance.