AARP Automobile and
Homeowners Insurance
Program from The Hartford
The Hartford has a 26-year history
of working on initiatives to provide
industry-leading auto and home insurance products to AARP members. The
company expanded its independent
agent distribution channel in response
to members’ wants and needs. The
agent channel accounted for 20 percent
of policies sold in 2010. For 2011, the
homeowners program will introduce
new features such as identity restoration services (at no additional cost) and
a market-leading “green rebuilding”
feature (an insurance endorsement that
allows certified “green” materials to be
used when rebuilding after a loss).
AARP Life Insurance and Annuity
Programs from New York Life
The AARP Life Insurance Program from
New York Life is designed to provide
valuable access to insurance through
simplified underwriting and a streamlined application process, at a time
when many other mainstream policies
deny access due to pre-existing medical
conditions. A record number of policies
( 2 million) are now in force. The AARP
Lifetime Income Program, which makes
available annuity options to help protect against the risk of outliving savings,
continued to achieve success despite a
challenging interest-rate environment.
AARP Credit Card
Services from Chase
Chase successfully increased engagement with existing holders of the AARP
Credit Card, as reward redemptions rose
by 30 percent over 2009. This increase
resulted, in part, from improved communications about the ease of redeeming
reward points and from the addition of
unique reward options, such as AARP
membership and donations to AARP’s
charitable affiliate, AARP Foundation.
AARP Mutual Funds and
AARP Financial Center
The difficult decision was made to close
down our investment advisory business, consisting of the Financial Advisers
in the AARP Financial Center and the
AARP Funds. The AARP Funds and AARP
Portfolios were liquidated on September
29, and assets were returned to the
shareholders.
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AARP Motorcycle and
Mobile Home Insurance
Program from Foremost
Foremost continues to lead the way in
member satisfaction with AARP-branded
products and services. More than eight
in 10 respondents said they were satisfied with the program, and nine of 10
said they would be likely to recommend it. Looking ahead, Foremost will
explore ways to extend the program to
Massachusetts and Hawaii.
New Financial
Provider in 2010
Charles Schwab & Co., Inc.
Following a structured, systematic process to identify a comprehensive financial services offering, we entered into a
new relationship with Charles Schwab.
Launching in 2011, AARP Financial
Guidance Services provided by Charles
Schwab will include a free one-hour
guidance session from Schwab counselors, a complimentary subscription to
Schwab’s On Investing magazine, complimentary branch seminars exclusively
tailored to AARP members’ needs, fee
waivers on Schwab Managed Portfolios
and discounts on Schwab financial
plans.
