is the investment advisor and administrator for the AARP
Funds and manages the relationships with providers of
AARP-branded property and life insurance, as well as the
credit card program.
AFI’s responsibilities include offering financial
guidance and education, and providing quality
control for the AARP-branded financial and non-health insurance products. Across the programs,
we work to provide plain language and straightforward information on financial products and
services.
AARP Automobile and Homeowners Insurance
Program from The Hartford celebrated 25 years
of service to AARP. (See next page.)
National Roll Out of AARP-Branded Auto
Insurance through Independent Agents—The
AARP-branded auto insurance program from
The Hartford was made available through select,
Hartford-appointed independent agents in 20
states (Arizona, Colorado, Connecticut, Florida,
Georgia, Illinois, Indiana, Maryland, Minnesota,
Missouri, New Mexico, New York, Ohio, Oregon,
Pennsylvania, Tennessee, Texas, Virginia,
Washington and Wisconsin). Previously, the
insurance was only available directly from The
Hartford by phone, Internet or mail. The decision
to expand through the agent channel was based
on strong customer feedback, pilot testing and
new research revealing that the many AARP
members prefer the advice and counsel of a local
agent when making decisions about their auto
insurance.
AARP Credit Card Program from Chase—Chase
began work on adding several new features to the
cards to help better protect AARP cardholders.
The Enhanced Protection Benefits that allow
people to use their cards with confidence include
price protection, purchase protection and return
protection. There are over one million accounts in
the AARP Chase Credit Card Program.
AARP Life Insurance Program from New
York Life—The AARP Life Insurance Program
had a very strong year. In 2009, sales were 15
percent higher than in 2008. The 445,000 new
certificates issued brought the total number of
policies to more than 1. 8 million. In order to
meet member needs, AFI secured approval from
the AARP Board of Directors for New York Life
to offer a portfolio of life insurance products that
provide greater coverage and are appropriate for
sale through the face-to-face channel. New York
Life will introduce this program to select agents
as the pilot rolls out in 2010 in seven locations
throughout the country.
