About AARP Life insurance & Mortgage Refinancing

Series Summary

Insurance is viewed by some as a waste of time until it is needed. There are many different types of insurance from health, life, auto and long- and short-term disability. Almost all insurance is a necessary part of life. Paying the monthly or semi-annual premiums can be a pain, but it is nice having the piece of mind knowing everything is taken care of. In this free video series on insurance, an experienced insurance broker explains life, health and property insurance. Find out about the average cost of home insurance and how to compare travelers insurance. Learn about adjustable life insurance and student health insurance. Find out about dental insurance and the best mental health insurance, all with information from these free videos.

Video Transcript

"This is John Pinelli financial representative. Talking about the AARP, the AARP is the largest non-profit organization in the United States. In addition to the services they provide for their members which are typically senior citizens or people over the age of fifty. They do offer financial products. This comes in the form of life insurance, mortgage refinancing, and other various financial products. The life insurance that they offer is typically provides a small amount of death benefit to their beneficiary, family or loved ones typically and this will cover things like funeral expenses, burial expenses, etc. Typically in small amounts ranging from $2,000 - $50,000. This coverage can be obtained online through their website AARP.org. Fairly easy to obtain, little medical information history required and I believe they offer it without any type of medical exam. Basically, on a pre-approved type of basis. So it's very easy to apply for. The mortgage refinancing they offer, they have a mortgage refinancing calculator on their website which will help you determine at what point you will break even from your current mortgage rate to converting to one of their mortgage rates at what point you would break even by doing so. Some of the disadvantages would be that the customers service that you would receive when working with an agent is typically a lot better than what you would receive simply by going through a website. Some of the terms and conditions, some of the technical jargon that can be associated with the policy that you might not understand, you would basically have to find out on your own through the AARP. You wouldn't have the ease of working with an agent who could help you decide what plan is best for you, determine your needs, etc. In addition, when it comes time to file a claim, when your working with an agent an agent will help ease and facilitate the making of that claim where as with the AARP it might be a little more difficult going through their website finding forms, a lot of the information you would have to kind of research and do on yourself. And the same goes with their mortgage financing that they offer, you're not working with a specific specialist that's coming out to help you and work with you, instead you're relying on the information that they provide you with the website and doing research on your own. So if you're able to do this research on your own, you have the time and the resources to do so, it may be a great way to save you money potentially in the long run but, just to kind of fool proof it and make it easier I would say going with an agent would probably be a better way to go. So this has been John Pinelli talking to you about AARP mortgage refinancing and life insurance."