The AARP, an empire with interests in health insurance
The influential organization AARP, created to defend the rights of the elderly in the United States, scandalized many Democrats for endorsing a legislative project to reform Medicare, but in fact the group has long been in the business of health insurance. Many AARP members were furious with the organization after it endorsed a bill that allows private insurers more intervention in the public health care program for the elderly, to the point of ripping up or burning their membership cards or flooding them with complaints the group message board on the internet.
In its 45 years of existence, AARP has grown from a program created to insure retired teachers to a more than $636 million-a-year Empire that pays its CEO a half-million-dollar annual salary.
Today, AARP endorses all sorts of things, like pharmacy services and Medicare supplement insurance, as well as discounts for hotels, car rentals, shopping, and cruises. AARP bills itself as an advocacy group for the rights of older adults, but more than two-thirds of its income comes from sources other than the $12.50 dues it charges its members. Although he spends millions of dollars on lobbying, those costs are just a tiny fraction of his income.
CEO William Novelli says AARP is part business, part seniors’ rights organization and part lobbying group. “There’s no dichotomy in our minds. If you’re wondering why people join AARP, here’s why: They like the discounts, they value the products and services we offer, and they like our publications,” Novelli said.
“But probably above all else is the fact that we speak for older Americans,” he added.
Retired Senator Alan Simpson investigated AARP’s profits when he was still serving in the Senate in the 1990s, questioning how the organization could be entirely tax-exempt when it was making millions.
AARP was forced to unbundle its businesses and create an openly for-profit subsidiary called AARP Services Inc. Simpson said he joined AARP when he turned 60 “just to see what they would do.”
AARP BURIAL INSURANCE IS PROVIDED BY SOMEONE ELSE
Believe it or not, AARP is not an insurance company. Many individuals believe that AARP entombment protection for seniors is really given by AARP, however it isn’t.
Disaster protection bought through AARP is really given by New York Life.
Eventually, AARP is only a showcasing organization. AARP essentially offers the freedoms to his picture to different insurance agency. Whichever insurance agency offers the most cash, that is the one AARP will back.
As of now, New York Life has the options to guarantee its extra security contracts, Hartford handles accident protection, and United Health Care gives medical services.
The second another insurance agency offers more cash than one of those organizations; feel free to that AARP will back another organization.
Eventually, every AARP entombment insurance contract is remarkable, so they all work in an unexpected way. Beneath, you’ll advance precisely how everyone functions, and see precisely the amount they cost.
Many other wise shoppers have already learned the truth about AARP’s life insurance program, which probably explains why the consumer affairs website is full of complaints.
AARP Final Expense Options (3 policies)
In total, AARP offers 3 different life policies.
- Term life insurance up to $100,000 in coverage
- Simplified Whole Life Underwriting up to $50,000 in coverage
- Guaranteed whole life approval up to $25,000 in coverage.
Each policy pays a tax-free cash benefit directly to your beneficiary to cover final expenses.
