What kind of insurance does AARP offer?
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Updated December 2, 2020: I can't wait to get old. I'll finally know how to play bridge. I'll enjoy quilting. I'll get senior discounts. The benefits are endless.
Not least among these benefits is the ability to join the AARP. Anyone 50 or over can join the organization. Membership comes with discounts on things like movie tickets and groceries as well as information on travel, health living and more. It also comes with access to a host of AARP-branded insurance products, including life, homeowners and dental insurance.
These insurance products are not provided by AARP itself. They carry the AARP brand, but are provided and marketed by third parties. AARP Services Inc., a for-profit subsidiary of AARP, provides quality control on the use of the AARP name on these products. Most AARP-branded products require membership to buy, but some don't, said Mark Bagley, a spokesman for AARP.
They also usually have special features or pricing for AARP members and are aimed specifically at people over 50. Here's a look at the insurance that carries the AARP name.
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AARP life insurance comes from New York Life Insurance Company. AARP members ages 50 through 80 can purchase the insurance. There are two types of AARP insurance: term and permanent.
The term life policy offers up to $100,000 in protection for ages 50 through 74 to purchase. Coverage lasts until age 80. There is no medical exam.
Anyone from ages 50 through 80 can buy the permanent life policy, which covers up to $50,000. There's no medical exam for this policy either.
A 50-year-old man would pay about $74 a month for a $100,000 term life policy, with prices rising with age. That's not exactly the best price ever for term life insurance, but it's competitive with other non-medical exam policies geared toward seniors. Still, it's worthwhile to shop around for a traditional term policy, which, depending on your health, could cost less. (Policygenius can help you compare life insurance quotes.)
AARP auto insurance from The Hartford comes with 12-month rate protection. The program's RecoverCare feature provides up to $2,500 for transportation, cooking, cleaning and other help if you're injured in a car accident. If you total your car within 15 months or 15,000 months of buying it, The Hartford will replace it with a vehicle of the same make, model and equipment.
AARP members in Massachusetts can get insurance from Plymouth Rock Assurance, which comes with an AARP member discount.
AARP members can also buy motorcycle insurance through Foremost Insurance Group.
The Hartford also provides AARP homeowners insurance. Optional benefits include full replacement cost coverage, which pays 100% of the cost of rebuilding your home if it's destroyed. The coverage has lifetime renewability, which means the company can't cancel it as long as you pay your premiums on time, insure your home for at least 80% of its value and don't commit insurance fraud.
The Hartford also sells AARP renters insurance.
The AARP has a dental insurance plan administered by Delta Dental Insurance Company. The program accepts all AARP members. Plan options vary by state. Premiums start at around $50 a month for a northern New Jersey man, with a $100 deductible and $1,000 out-of-pocket max.
AARP members can choose from three plans from AARP MyVision Care, provided by EyeMed. Each plan covers regular eye exams, glasses, contacts and laser eye correction for members and their dependents. Co-pays vary depending on which of the three plans you choose, though eye exams cost no more than $10 out-of-pocket under all three.
The EyeMed network includes more than 45,000 providers and retail locations.
Plans range from $4.38 a month to $31.38 a month.
Business owners can also buy protection from AARP through its small business insurance program from The Hartford. It covers business property and liability, including from fire, theft and lawsuits.
You can also buy optional coverage for business income protection after a serious loss and data breach coverage.
Medicare is the federal health insurance program for anyone 65 and older or certain people with disabilities. Medicare Part A covers hospital stays and Medicare Part B covers doctor services. Part C, also known as Medicare Advantage, covers both through private health insurers. You can learn more about Medicare and its parts here
Anyone can enroll in Medicare Advantage as long as they have Medicare and pay premiums for Part B. AARP offers Medicare Advantage plans through UnitedHealthCare. They include free preventive services, including an annual physical and flu shot. They also cover worldwide urgent and emergency care and routine eye and ear exams.
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Disclosure: Policygenius offers insurance policies from many of the nation's top insurers, who pay us a commission for our services. However, all editorial choices are made independently.
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