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AARP RIPOFF

Discussion in 'Off Topic Threads' started by over/under, Mar 2, 2010.

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  1. over/under

    over/under Member

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    What do you expect when they're in bed with Hussein and the Dems.
     
  2. 635 G

    635 G Well-Known Member

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    First of all life insurance for most people is a total rip-off. It should be be called death insurance. You are betting you are going to die & the insurance company is betting you are going to live. Never understood why a person with no small children and over the age of 55 needs life insurance.

    Phil Berkowitz
     
  3. mx2005

    mx2005 TS Member

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    From what I was told they are on the anti-gun list of companies.
     
  4. esoxhunter

    esoxhunter Well-Known Member

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    Location:
    Wisconsin
    I quit AARP quite some time ago. They are pro-Obama and all they want to do is sell you insurance.
     
  5. KennyP

    KennyP TS Member

    Joined:
    Jan 29, 1998
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    Most people have no idea what Life Insurnace is intended for. It is for the purpose of insuring income and a standard of life for the people that are left behind after you die. If you are the single bread winner with a wife and kids, yes you need insurance. If you have little or no income and you are set with retirement savings, you have no reason to have insurance.
     
  6. spitter

    spitter Well-Known Member TS Supporters

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    too many financial experts here...

    First of all... any one who buys "Term", whether individual or group, needs to understand its "temporary" coverage. If one buys the Term through AARP (or any association) on a group basis, its typically done for cost, convenience or for the sake of acquiring coverage on a more favorable basis and/or avoiding complete medical underwriting.

    As for needing life insurance only for the young, married with kids and those without retirement... wait until a spouse dies and one loses 1/3-1/2 (or more) of the Social Security check the next month and wishes they had some coverage to replace that income. Have a pension and took the increased life benefit - you did your surviving spouse no favors, and if you take the survivorship option, you did yourself and your spouse no favors either!

    Most financially successful households need more than just burial policies.

    Both you and the spouse die... watch as the kids cut a nice check for the tax bill from your IRA/401K accounts and if the Dems get their way... reinstatement of the Estate Tax AT lower thresholds...

    It doesn't take much to start adding up... a few hundred thousand or more in a house, a few hundred thousand in a couple CDs, a few hundred thousand in the IRAs and a few more in the 401K accounts... add some stocks and bonds, personal assets and other expected inheritances...

    Unless one has truly modest means or cares nothing of the assets they built or inherited... to be reacquired by the government, some amount of "permanent" life insurance can be looked at as a future sacrifical asset for pennies/nickels on the dollar.

    Death is 100%, no risk on that bet at all... question is whether you're going to drop dead for free, or make someone pay off on that lifetime wager?!

    regards all,

    Jay
     
  7. Auctioneer

    Auctioneer Well-Known Member

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    Call your states insurance reg dept. They might be able to help you with this problem. If they can't then they are aware of this and might be able to do something behind closed doors.
     
  8. Old Fowler

    Old Fowler TS Member

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    Wife and I are members of AMAC (Association of Mature American Citizens) and have been very happy with their charter, overall mentality and benefits.
     
  9. spitter

    spitter Well-Known Member TS Supporters

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    Twostraight...

    Life insurance planning and employee benefits is my profession...

    Jay Spitz, CLU ChFC
     
  10. Lobo

    Lobo TS Member

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    Joined AARP 10 years ago and never paid anything since. Still send me their magazine. I read it, but would never buy thru them. Sure wouldn't do anything to support their left wing dribble. Anti gun and nearly socialist in their support. Do believe in some whole life insurance to help the wife and kids to not have to dump assets. Ain't ready to check out yet, but we all know it is going to happen.
     
  11. spitter

    spitter Well-Known Member TS Supporters

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    Royce... while its not really practical... you might find it interesting that some contracts actually run 75+

    regards all,

    Jay
     
  12. EE

    EE Banned User Banned

    Joined:
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    No sympathy here. AARP is anti-gun.

    EE
     
  13. bill1949

    bill1949 Well-Known Member

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    If you belong to anti-gun Obama loving AARP you deserve to get ripped off!...Bill
     
  14. Quack Shot

    Quack Shot Active Member

    Joined:
    Mar 14, 2006
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    4,003
    Put $50 a month into a fund and hope you live long enough to have enough to cover your funeral costs. Term life insurance for seniors isn't always a great idea. The time to have thought about life insurance would have been when you were young enough for the premiums to be low and to have enough time to build some equity in a NON-Term, whole life or modified type policy.

    AARP is NOT your friend. They are predators that profit on the fears of Seniors. You'd probably do better finding something outside of their organization.
     
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