Life insurance provides solutions to two diametrically opposite problems such as dying early and living for a very long time. With increase in the average life span of the Americans it became absolutely essential that the senior citizens of the country must have insurance coverage for meeting the various needs of the advanced age. AARP or American Association of Retired People is a non-profit no-partisan membership organization for the people of 50 years or above for transforming their insurance goals into realities. Being the most powerful lobbying groups in the United States it helps its members to have the right insurance plan. The AARP life insurance seniors have various coverage options and with its wide variety of plans AARP health insurance has something for almost all personal needs and situations. Being an AARP member is very easy and joining AARP you can enjoy various discounts.
How to qualify for AARP life insurance seniors?
In order to qualify for AARP insurance plan for seniors one has to become a member of the AARP. You have to go to the AARP website and fill up the application form. The membership fees in the United States are $16.00 per year for one year; $14.33 per year for three years and $12.60 per year for five years membership. Joining AARP you can have the enormous opportunity of enjoying AARP sponsored life insurance plans for seniors from sponsored insurance providers.
Different AARP life insurance seniors plans
As per the AARP terms and conditions you are not allowed to procure AARP life insurance plan for senior that is worth more than $100,000 as coverage or $50,000 for permanent life insurance. There are many insurance providers who sale term insurance plans to the AARP members of age from 50 to 74 and the rates are guaranteed for five years only. After expiry of the period it can be renewed with new rates. If the insured person passes away during the tenure of the insurance policy the beneficiaries receive the value of the policy and if it is outlived by the insured, then the amount covered is paid at the expiry of the term. Such polices also have the provision of offering people with terminal illness having up to 12 months life expectancy to get half of the benefits before death for meeting the medical expenses. Permanent AARP life insurance seniors are also available for members between 50 and 80 years of age and there is no need to pay further premium after attaining the age of 95 years though the insurance remains valid for life.
The most exciting part of AARP term insurance is that you can apply for the same without any medical examination. You are to declare if you were diagnosed or had treatments at hospital for heart trouble, cancer, any disease of lungs or diabetes, liver or kidney disease, AIDs etc in past two years. You are also to declare the diagnostic tests done in the past three months and if you are regularly taking preventive medicines for controlling cholesterol and BP level. In case you had any such illness much earlier than this period that will not be counted while considering your application. So, even if your proposal is rejected by other insurers it is most likely that AARP standards will be okay for you. Other than providing the primary insurance plans, AARP also offers dental coverage, cost of eye-care including 60% of the cost of glasses and also arrange to send your medicines to the doorstep of the senior citizens.
How AARP works?
AARP is never selling AARP life insurance seniors to the members. The group offers its members a large number of services including life insurance, auto insurance and others. The group has number of insurance providers on its panel and every insurance application is directed to these providers for chalking out a mutually beneficial insurance plan.
Who can be most benefited from AARP insurance?
- In case you are a smoker and like to have a policy with coverage between $50,000 and $100,000, AARP is the best option as they never ask if you are a smoker and hence your smoking will not affect the rates.
- For persons who are disabled and receiving social security disability, AARP is the best suited for such persons who are not working as AARP does not ask current income of the person to be insured.
- For the overweight and obese persons AARP policies are the best option.
- All life insurance providers review the criminal records. In case you have been charged with felony during the last five years AARP could be your only option to protect your health.