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AARP, founded in 1958, stands for the "American Association of Retired Persons." The second-largest membership organization in the United States, this company is considered a nonprofit organization designed to provide and advocate for people over the age of 50. As one of the most powerful lobbying groups in the U.S., the group works to ensure dignity and respect for senior citizens across the country. A well-respected member of the insurance community, the organization currently provides health insurance to members of its exclusive membership club. There are rumbles among other insurance providers in America that AARP will soon begin offering auto and motorcycle insurance to members of its groups.
Over seven million people are insured under AARP's health insurance initiative, and the organization is considering a move to include a branded AARP car insurance division in the next few years. People feel that the company may be too big, however, if they expand to include auto insurance, but their large reach and governmental ties ensure that those under their policies would enjoy low rates and expansive coverage.
When AARP car insurance does take shape, it will operate much like other car insurers nationwide. The cost of coverage will be determined by multiple factors, including but not limited to age of vehicle, age of driver, and safety record. As a large provider, the organization will have access to great funds and availability of providers, making it likely that drivers insured under their policies will experience great discounts based on their age as members of the group now must be over 55 to join. As currently maintained, the health insurance branch of AARP faces much criticism for having high deductibles and limited coverage. This could be due to the company's role as a nonprofit organization, and sufficient privatization may need to take place before and auto insurance branch would become a feasible option.
The group has placed great emphasis on championing future generations and leaders, even going as far as to take out advertising aimed at inspiring younger generations. While the youthful members of society will not be eligible to obtain the car insurance provided by the group, they may be in line to inherit the deep discounts that are likely to be offered by such a large, multi-armed company. Car insurance rates for future generations will be determined by such factors as type of vehicle, government mandates and regulations, and even the physical characteristics of the driver. Changes in vehicle specifications and driving ages in various states have already had great impact on auto insurance rates nationwide.