Life Insurance Review
American International Group (AIG) was founded 100 years ago. Now offers life insurance under various brands, including AIG Direct, AIG 100, and American General Life Insurance Company.
The premium is exempt if you are completely disable before a certain age, usually between 60 and 65 years.
AIG Life Insurance Review
AG ROP Select-A-Term
American General Life companies have rates for younger adults that are not as competitive as other companies. And this insurer does not have the best claims service record. But AIG is a financially stable company that offers variety of life insurance products.
Third-party ratings give us an overview of AIG’s financial strength and anticipated stability in the future. As well as an idea of how satisfy customers are with its overall services.
American International Group Inc. (AIG) is a large multinational insurance company that offers life insurance, property and casualty insurance, and retirement products. Also other financial services in more than 80 countries.
AIG is a large multinational insurance company offering life insurance, property and casualty insurance, retirement products.
In 2018 A.M. AIG’s best-confirmed AIG rating for life and retirement, indicating that it believes AIG is excellently able to meet its obligations to policyholders.
Better Business Bureau (BBB)
Better Business Bureau (BBB) assigns ratings from A + to F, with A + being the highest based on its analysis of information received directly from the company and its customers.
AIG scores regularly within its three highest scores, currently having an A- rating. the premium is exempt. If you are completely disabled before the certain age, it is usually between 60 and 65 years.
Moody’s Credit Rating
As the oldest credit rating agency in the United States, Moody’s corporate credit scores are consider strong predictors of a company’s ability to meet its financial obligations.
AIG is a large multinational insurance company providing life insurance, property and casualty insurance, retirement products and other financial services in more than 80 countries.
Moody’s affirmed AIG’s A2 (good) rating in 2018, which means it is a reliable company with good financial security. Although some factors suggest the possibility of future difficulties.
AIG’s consistent performance in life and retirement was note in the statement as a balance of some of AIG’s weaker areas, illustrating the strength of that particular division.
Standard & Poor’s (S&P)
standard & Poor’s (S&P) is a leading provider of stock indices (S&P 500) and one of the three largest original credit bureaus in the United States. The scale ranges from AAA at the highest end to D at the lowest.
AIG’s Life and Retirement division receives an A+ rating from S&P, reflecting the company’s solid financial security. The premium is exempt if you are completely disable before a certain age, usually between 60 and 65 years of age.
Products offered by AIG
AIG offers an extensive line of insurance and investment products for individuals and businesses. The company’s products and services for individuals include:
- Insurance for individuals and families, including
- AARP Life insurance
- Term life insurance
- Whole life insurance
- Universal life insurance
- Indexed universal life insurance
- Variable universal life insurance
Life insurance policies offered by AIG
AIG offers term and permanent life insurance. There is no one-size-fits-all policy, so each type of coverage offers benefits.
- Investments for individuals and families, including
- Mutual funds
- Structured Settlements
- AIG mortgage loan
- VALIC – Variable Annuity Life Insurance Company
The type of life insurance you need depends largely on your financial health and the reason for your need for coverage.
Term Life Insurance Benefits
- Lower initial cost
- Income protection
- Mortgage protection
- Conversion option
Permanent life insurance benefits
- Purchase and sale agreements
- Key man insurance
- Estate planning
- Executive Bonus Plans (Section 162)
- Unrated deferred compensation plans
- Split Dollar Life Insurance
- Infinite banking
Life insurance policies offered through American General
American General offers several life insurance solutions, including term life, whole life, guaranteed whole life issuance and universal life.
AIG insurance company that provides life insurance, property and casualty insurance, retirement products and other financial services in more than 80 countries
Term life Insurance
AIG offers two term options through American General: term and premium refund.
AIG life insurance company offers competitive term life insurance rates for 20 years age, especially for those with a pre-existing illness. Such as diabetes.
Select a Term
The company’s term product was coin as “Select-A-Term”. Due to its unique adaptability to a certain number of years. The term options are 10 years and then 15 to 35 years. Term years 15-30 include all intermediate years.
The policy is fully convertible at the end of the term or after 70 years, whichever comes first. With a conversion option, you can convert all or part of your policy into permanent cover without providing evidence of insurability.
AG ROP is a premium maturity product with which you can waive the present value guideline at the end of the term in order to achieve a full return on your premiums
The term includes 20, 25, and 26-35 retirement products and other financial services in more than 80 countries.
American Elite Whole Life
A nonparticipating whole life policy that provides guaranteed cash value, guaranteed tier premiums, and guaranteed protection from death benefits. No medical subscription for policies of $ 99,999 or less for customers 55 and under.
The guaranteed option to purchase additional insurance allows you to purchase up to $ 50,000 more coverage without having to register until you are 39 years old.
Guaranteed Issue Whole Life
AIG’s Final Expense Whole Life Insurance Policy offers guaranteed coverage regardless of your health. The policy includes a two-year gradual death benefit.
- Guaranteed issue (no medical exam or health questions)
- Facial amounts: $ 5,000 – $ 25,000
- Available for ages 50-85
Universal life Insurance
AIG’s American General offers three types of universal life: guaranteed, indexed and variable.
Guaranteed Universal life
- Secure Lifetime GUL 3
- AG Secure Survivor GUL 2
- Asset protector
Secure Lifetime GUL 3
GUL 3 offers guaranteed death benefit and guaranteed cash value growth. The common attraction of this policy is the Lifetime Income Solution clause. This provides accelerated benefits that can be use as income later in life.
Indexed Universal Life
- Global Plus II
- Index II
- Survivor Index II
- Value + IUL
Elite Index II
AG’s IUL policy provides three death benefit options: leveled death benefit, increasing death benefit, and leveled death benefit with premium refund. The policy provides for a schedule of decreasing delivery charges of 19 years.
Value + IUL
The goal of this indexed universal life policy is a strong death benefit that has some accumulation of cash value. The policy is design for lower premiums than traditional permanent cover.
You can choose a fixed account with a guaranteed minimum interest rate of 2%. This indexed account with a guaranteed index account accreditation of 0.25%, regardless of market performance.
Variable Universal Life
Universal Life Insurance (UL) is a form of permanent life insurance with an investment-saving element and lower premiums. Universal life insurance (UL) price is the minimum premium payment require to maintain the policy. The beneficiaries only receive the death benefit.
Value Life Insurance
It is a type of cash value life insurance that is sale primarily in the United States. Under the terms of the policy, excess premium payments above the current cost of insurance is credit to the cash value of the policy. Which is credit each month with interest.
Indexed Universal Life vs Variable Universal Life
IUL and VUL policies provide lifetime coverage, pay a death benefit, and allow access to cash value.
Both IUL and VUL policies are flexible policies. Allowing you to adjust your payments and protection of death benefits up or down to adapt to changes in lifestyle.
The main differentiation is how IUL and VUL allocate funds within the policy.
AIG Policy Performance
With AIG life insurance policies, you are not investing directly in the stock market.
Alternatively, you can transfer all or part of your funds to an indexed account. The indexed account tracks a particular index, and your indexed account has credited interest based, in large part, on the performance of the index.
Policy has incorporated safeguards
With AIG policies, its policy has incorporated safeguards. Although your maximum credit interest is limited by a limit. Your disadvantage is also protect due to a guaranteed floor. Never less than 0.25% for AG IUL policies.
With AIG policies, you can also choose to allocate funds to a fixed account or transfer to subaccounts of variable investment options. VUL subaccounts invest directly in the underlying assets.
With AIG policies, there is no minimum floor or maximum limit. The value of your policy may increase or decrease depending on the performance of the market in which you invest.
Accelerated access solution
As people live longer and longer, the need for help with long-term care costs increases. There are long-term care options link to benefits and separate long-term care insurance policies.
However, there are alternatives that provide income benefits derived from the death benefit for a lower premium. Its typical long-term care insurance, such as the AIG Accelerated Access Solution.
Senior Life Insurance
Accelerated Access Solution is a senior life insurance clause that provides income benefits if you are unable to do 2 of the 6 activities of daily living or have cognitive impairment that threatens your health and well-being and requires substantial supervision.
Your benefit options are 2% or 4% of the death benefit, subject to $360 per day and $ 10,950 per month. IRS Diet Limits per month for 2017.
If you meet the chronic disease requirements, not all deductions from your policy and rider will apply.
You do not need to send receipts.
You can use the tax-free income benefit as you wish. The additional clause allows you to receive benefits if you meet the requirements for chronic diseases.
Alternatively, if you do not need the chronic disease benefit, your beneficiary receives the death benefit from life insurance for seniors over 50 to 80 age. Either way, politics will pay.
Additional benefits of cash value life insurance
Cash value life insurance is tax-advantage vehicle that provides the following additional benefits.
Tax Free Life Insurance Policy Loans
Life insurance loans are not subject to tax. You have the right to borrow from the carrier, using its cash value as collateral, for whatever you want. The loan is charge against your death benefit.
If you die with an outstanding loan, any amount owed, plus interest. It will be deduct from your death benefit before your beneficiary receives the rest.
Because they are not taxable. You can use life insurance loans to supplement your retirement income without fear of losing certain retirement benefits.
Tax deferred cash value growth
According to IRC 7702, which deals with cash value life insurance, the cash value of your policy grows tax-deferred. In addition to withdrawing your cash value above your base or expiring your policy.
Your cash value is tax-free using policy loans. Just be sensible and don’t borrow so much that your policy ends up imploding you.
Tax-free death benefit
The life insurance death benefit is not taxable. As long as your estate is below the federal exemption limit. Your own state inheritance tax level, no income tax on your life insurance will be subject to tax.
For larger farms, careful planning of asset protection is necessary.
American General Life Insurance Policy Riders
The following US general life insurance users are not available on all types of policies.
Child Rider: You can add term life insurance to your coverage at a fixed price, no matter how many children you have.
Terminal Illness Attachment: Allows access to your death benefit if you have a terminal illness that qualifies with a life expectancy of 12 months or less.
Expedited Access Solution: You can access the death benefit to help pay for care for a qualifying chronic condition after a 90-day elimination period.
AIG Review Conclusion
AIG is a highly qualified company that offers some unique life insurance products and brokers. Each of these can be tailor to create an excellent life insurance policy. But the underlying question remains.
Is AIG the best company for your needs and objectives?
AIG can be the best company for you.
But without talking to your discovering your goals, needs and objectives. we cannot say which company will best suit your needs.
- AIG Life Insurance Review and Compare Rates Quotes.