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Alternatives to AARP Insurance

Founded in 1958, AARP is a nonprofit organization that advocates on the behalf of those age 50 and over. AARP has over 1.5 million members, according to "USA Today." Given the large number of members, many businesses have partnered with AARP to offer discounts to members, including insurance companies. As with any other type of purchase it's important to evaluate all your options, which includes looking at alternatives to AARP insurance.

  1. Individual Health Insurance

    • Aetna offers discounted individual health insurance to those younger than age 65 through AARP, and United Healthcare offers discounted Medicare plans to AARP members. Health insurance is approved on a state-by-state basis. Your state department of insurance can provide you with a list of health insurance companies approved in your state. Ehealthinsurance.com can also provide insurance quotes based on plans that are available in your state.

    Long-Term Care Insurance

    • Genworth has partnered with AARP to offer discounted long-term care insurance to AARP members. You can find alternative companies that offer long-term care insurance by contacting your state department of insurance. Another option is a long-term annuity. Annuities are tax-deferred savings vehicles. A long-term care annuity sets up two separate funds: one that can be used immediately for long-term care and a cash fund with deferred access. Continuing care retirement communities are another option. These communities require a large initial deposit along with monthly payments, but provide all levels of care from independent living to nursing home care.

    Life Insurance

    • New York Life insurance Company offers various insurance plans to AARP members. Life insurance is offered by hundreds of companies, and there are numerous websites that offer life insurance quotes. There are two basic types of life insurance: permanent and term. Term insurance is less expensive and is designed to last for a period of time, such as five or 10 years. Once the term period is completed, you may be able to renew the policy, but at a higher premium. Permanent insurance is designed to be in place for life. Whole life is one type of permanent insurance, and has level premiums and a level death benefit. Whole life insurance grows cash value within the policy that can be borrowed against. If you're 50 or older and looking for insurance to cover burial costs, whole life policies may work well for your needs.

    Auto Insurance

    • The Hartford Insurance Company offers a discounted rate on auto insurance through AARP. You can obtain alternative quotes by contacting other auto insurance carriers, including Geico, Progressive, Nationwide and State Farm. Progressive.com provides premium information for other companies as well. There are also car insurance companies that specialize in providing bare bones car insurance for those who are difficult to insure. However, it's always a good idea to get a few quotes so you know you're being charged a fair premium for your policy.

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