AARP's Role in Endorsing Insurance Products
AARP is well-known for providing resources and benefits to people aged 50 and older. However, a common misconception is that AARP is an insurance company itself. In reality, AARP serves as an endorser, partnering with reputable insurance providers to offer specially designed products and exclusive discounts to its members. By using its brand, AARP adds a layer of trust and evaluation to these offerings, ensuring they meet its standards of quality and service.
Medicare Insurance from UnitedHealthcare
For health insurance, AARP has a long-standing partnership with UnitedHealthcare. This relationship provides AARP members with access to various Medicare-related insurance plans designed to supplement or enhance Original Medicare coverage.
AARP Medicare Supplement Insurance Plans (Medigap)
These plans are the most prominently endorsed UnitedHealthcare products under the AARP brand. Medigap policies help cover many out-of-pocket costs that Original Medicare (Parts A and B) does not, such as deductibles, copayments, and coinsurance. Enrollment in these plans requires AARP membership, and the policies are exclusively branded with the AARP name.
Other Medicare Plans
UnitedHealthcare also offers additional Medicare products to AARP members, including:
- Medicare Advantage (Part C) Plans: These plans offer an alternative to Original Medicare by bundling Part A, Part B, and often Part D (prescription drug) coverage, along with extra benefits like dental and vision. While offered by UnitedHealthcare, enrollment in these particular plans does not require an AARP membership.
- Medicare Part D Prescription Drug Plans: These plans help cover the costs of prescription medications. AARP members can enroll in a Part D plan from UnitedHealthcare to combine with their Original Medicare.
Auto and Home Insurance from The Hartford
For over 40 years, The Hartford has been the sole national provider of auto and home insurance programs endorsed by AARP. These programs are designed specifically for the needs of experienced drivers and homeowners aged 50 and over.
Benefits of The Hartford's AARP Program
- Exclusive Discounts: AARP members are eligible for special discounts on their premiums.
- Customized Coverage: Policies are tailored to fit the lifestyle and needs of older adults.
- Unique Features: Benefits can include RecoverCare coverage for assistance after an injury and a disappearing deductible for safe drivers.
- Bundle Savings: Members can save by bundling their auto and homeowners insurance policies with The Hartford.
Life Insurance from New York Life
AARP’s Life Insurance Program is underwritten by New York Life Insurance Company. The program provides various options to help members secure their families' financial futures.
Types of Policies Offered
- Group Term Life Insurance: This offers affordable coverage for a specific period of time.
- Guaranteed Acceptance Life Insurance: This option provides coverage regardless of health, though it is often subject to limitations.
- Permanent Life Insurance: This policy builds cash value over time in addition to providing a death benefit.
Specialty Insurance from Foremost
Foremost is another endorsed provider, specializing in coverage for a variety of specialty vehicles and properties.
Foremost Insurance Products
- Manufactured home insurance
- Motorcycle insurance
Choosing the Right Plan: A Comparison
To help members decide on the best option, a comparison of the endorsed insurance types and their respective providers is useful.
| Feature | UnitedHealthcare (Medicare) | The Hartford (Auto & Home) | New York Life (Life) | Foremost (Specialty) |
|---|---|---|---|---|
| Requires AARP Membership? | Yes, for Medigap plans. No, for others. | Yes, for exclusive program and discounts. | Yes, for program eligibility. | Yes, for exclusive program and benefits. |
| Key Products | Medigap, Medicare Advantage, Part D. | Auto, homeowners, renters, condo. | Term, Guaranteed Acceptance, Permanent. | Manufactured home, motorcycle. |
| Who is it for? | Medicare-eligible individuals. | Drivers and homeowners age 50+. | Members seeking financial protection for beneficiaries. | Members with specialty property/vehicles. |
How to Access AARP-Endorsed Insurance
- Become an AARP Member: To take advantage of most exclusive endorsed programs, you must be an AARP member. The annual fee is typically $20, but providers like The Hartford can assist with enrollment.
- Verify Eligibility: For certain plans, particularly health insurance, age and location requirements may apply.
- Contact Providers: AARP encourages members to contact the endorsed insurance companies directly to get quotes, compare plans, and purchase policies.
- Utilize Discounts: Ensure you mention your AARP membership to receive any special rates or discounts offered through the exclusive programs.
For more detailed information, consider visiting the official AARP official website.
Conclusion
AARP's endorsement provides a trusted pathway for older adults to find quality insurance products for their specific needs. By partnering with leading providers like UnitedHealthcare, The Hartford, New York Life, and Foremost, AARP leverages its brand to secure exclusive programs and benefits for its members. Understanding these relationships is key to making informed decisions about insurance coverage during the aging process, ensuring peace of mind and financial security.
