AARP Final Expense

[Guest]

I have a medsup client age 65 has $5000 pays $44 every 3 months.
I don't sell FE. Is this any good. If not what is a good premium for her?

 

[Newby]

I have a medsup client age 65 has $5000 pays $44 every 3 months.
I don't sell FE. Is this any good. If not what is a good premium for her?

AARP is not competitive with any of their senior life insurance products. The one you are asking about is not a final expense at all. It's a term with increasing premiums and if she lives longer than age 80 she loses all coverage and of course all the money she paid too.

If she wants to use it for a permanent need like funeral expenses she needs a whole life policy. Your upline should be able to train you on them. You can definitely offer her a better deal unless she only wants the coverage for a short time.

 

[Chazm]

Yeah I love when I go to a home and they say they have an AARP life ins policy. Most of the time it's the one with increasing premiums. Once you explain that it's easy.

Yesterday, I met a lady who had AARP FE. 7k coverage for $39/month. I know that's the level premium but I can still beat that offer by giving her 10k coverage for still a little less per month

 

[jdeasy]

Yeah I love when I go to a home and they say they have an AARP life ins policy. Most of the time it's the one with increasing premiums. Once you explain that it's easy.

Yesterday, I met a lady who had AARP FE. 7k coverage for $39/month. I know that's the level premium but I can still beat that offer by giving her 10k coverage for still a little less per month

The AARP branded life insurance is either term or UL. They have nothing else.

The term is worthless as it increases in premium at least every 5 years, {they even say at their website that it can be increased at other times}, and it ends at age 80, the worst part of it in my opinion.

Their "permanent life" is a UL. It also says clearly at the website and in the policy that the premiums are "not guaranteed". No, it doesn't end at age 80, but, will they be able to afford it?

Of course the premium will most likely not increase, but showing a senior the language where it can from the company is priceless.

 

[Mark]

I"m not a fan of AARP. It is all about $$$ and the companies that pay them the most money for them to promote them, will win.

 

[KimPMG]

The thing that kills me is that it is a Senior Advocacy org who is also an INSURANCE COMPANY...how is it that the Seniors don't question their impartiality? In the end, they are another company looking to make money just like the rest of us.

 

[jdeasy]

The thing that kills me is that it is a Senior Advocacy org who is also an INSURANCE COMPANY...how is it that the Seniors don't question their impartiality? In the end, they are another company looking to make money just like the rest of us.

AARP is not an insurance company. They used to be, but got in quite a bit of trouble about their life insurance company. Newby has posted the details on here in the past.

They are simply a marketing company posing as an advocate. Their life insurance is New York Life. Their medicare stuff is all UHC.

 

[dlj2626]

I am not a big fan of AARP either. However, some people you run across feel AARP is a great organization and will buy something from them because it is affiliated with AARP. But they can get insurance much less expensive elsewhere.

 

[Newby]

If you look on Amazon there are a couple of excellent books on the history of AARP.
They were originally a marketing gimmick for Colonial Penn. They got busted by

 

[arnguy]

If you look on Amazon there are a couple of excellent books on the history of AARP.
They were originally a marketing gimmick for Colonial Penn. They got busted by

What's the rest of the story, Scott? The phone interrupt you?