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Old 07-31-2009, 09:49 PM   #410
TheMercenary
“Hypocrisy: prejudice with a halo”
 
Join Date: Mar 2007
Location: Savannah, Georgia
Posts: 21,393
AARP is deeply imbedded in the Insurance Compaines back or in reality front pockets. They are essentially married to what ever the insurance companies can do to make a max profit.

More about the AARP and their partisan Insurance interests:

Quote:
Dec. 4 (Bloomberg) -- Arthur Laupus joined AARP because he thought the nonprofit senior-citizen-advocacy group would make his retirement years easier. He signed up for an auto insurance policy endorsed by AARP, believing the advertising that said he would save money.

He didn’t. When Laupus, 71, compared his car insurance rate with a dozen other companies, he found he was paying twice the average. Why? One reason, he learned, was because AARP was taking a cut out of his premium before sending the money to Hartford Financial Services Group, the provider of the coverage.

Laupus stumbled onto something that many members of the world’s largest seniors’ organization don’t know: The group, formerly called American Association of Retired Persons, collects hundreds of millions of dollars annually from insurers who pay for AARP’s endorsement of their policies.

The insurance companies build the cost of these so-called royalties and fees, which amounted to $497.6 million in 2007, into the premiums they charge AARP members, according to AARP’s consolidated financial statement for that year.

AARP uses the royalties and fees to fund about half the expenses that pay for activities such as publishing brochures about health care and consumer fraud -- as well as for paying down the $200 million bond debt that funded the association’s marble and brass-studded Washington headquarters.

In addition, AARP holds clients’ insurance premiums for as long as a month and invests the money, which added $40.4 million to its revenue in 2007.
continues:

http://www.bloomberg.com/apps/news?p...d=a4OkPQIPF6Kg
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