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Life Insurance Review

American International Group (AIG) was founded 100 years ago and now offers life insurance under various brands, including AIG Direct, AIG100, and American General Life Insurance Company. the premium is exempt if you are totally disabled before a certain age, generally between 60 and 65 years.

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 a variety of life insurance products.

AIG Life Insurance Review

AIG_Life_Insurance_Review
AIG Life Insurance Review and Quotes

Ratings

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 satisfied customers are with its overall services.

American International Group Inc. (AIG) is a large multinational insurance company offering life insurance, property and casualty insurance, retirement products and other financial services in more than 80 countries.

A.M. Best

A.M But AIG is a financially stable company that offers a variety of life insurance products. (AIG) is a large multinational insurance company offering life insurance, property and casualty insurance, retirement products and other financial services in more than 80 countries.

In 2018, A.M. Best affirmed AIG Life and Retirement rating A, indicating that it believes AIG has an excellent ability 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 totally disabled before a certain age, generally between 60 and 65 years.

Moody’s

As the oldest credit rating agency in the United States, Moody’s corporate credit scores are considered strong predictors of a company’s ability to meet its financial obligations. (AIG) is a large multinational insurance company offering 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. But AIG is a financially stable company that offers a variety of life insurance products.

AIG’s consistent performance in life and retirement was noted 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 totally disabled before a certain age, generally between 60 and 65 years.

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 of life insurance
  • Whole life insurance
  • Universal life insurance
  • Indexed universal life insurance
  • Variable universal life insurance
  • Investments for individuals and families, including
  • Annuities
  • Mutual funds
  • Structured Settlements
  • AIG mortgage loan
  • VALIC – Variable Annuity Life Insurance Company
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.

The type of life insurance you need will depend 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) is a large multinational insurance company offering life insurance, property and casualty insurance, retirement products and other financial services in more than 80 countries.

Term life Insurance

AIG, through American General, offers two term life options, term life and premium refund.

AIG offers competitive term life insurance rates for 20 years, particularly for those with a pre-existing medical condition, such as diabetes. There is no one-size-fits-all policy, so each type of coverage offers benefits.

Select a term

The company’s term product was coined as “Select-A-Term” because of its unique ability to adapt to meet a specific number of years. Term options include 10 years, and then 15 years to 35 years. Term years 15-30 include all intermediate years.

The policy is fully convertible at the end of the term conversion period or 70 years, whichever comes first. A conversion option allows you to convert all or part of your policy to permanent coverage without evidence of insurability. Rather, its original health rating is used. (AIG) is a large multinational insurance company offering life insurance, property and casualty insurance, retirement products and other financial services in more than 80 countries.

AG ROP Select-A-Term

AG ROP is a premium term level product that allows you to waive the cash value policy at the end of the term, providing a full return on your premiums. Term lengths include 20, 25, and 26-35. (AIG) is a large multinational insurance company offering life insurance, property and casualty insurance, retirement products and other financial services in more than 80 countries.

Whole_Life_Insurance
Whole Life Insurance

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 clients up to 55 years old.

Guaranteed option to purchase additional insurance: allows the purchase of up to $ 50,000 more of coverage without subscribing until age 39. There is no one-size-fits-all policy, so each type of coverage offers benefits.

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 a guaranteed death benefit and guaranteed growth in cash value. The main attraction of this policy is the Lifetime Income Solution clause, which provides accelerated benefits that can be used as income later in life. There is no one-size-fits-all policy, so each type of coverage offers benefits.

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. AIG’s Final Expense Whole Life Insurance Policy offers guaranteed coverage regardless of your health.

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 designed for lower premiums than more conventional permanent coverage.

You can choose a fixed account with a guaranteed minimum interest rate of 2% or an 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 plus lower premiums. The universal life insurance (UL) price is the minimum amount of a premium payment required to maintain the policy. Beneficiaries only receive the death benefit.

Universal life insurance

It is a type of cash value life insurance that is sold primarily in the United States. Under the terms of the policy, excess premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest. AIG’s Final Expense Whole Life Insurance Policy offers guaranteed coverage regardless of your health.

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 credited interest is limited by a limit, your disadvantage is also protected 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. AIG’s Final Expense Whole Life Insurance Policy offers guaranteed coverage regardless of your health.

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 linked 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 than 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. AIG’s Final Expense Whole Life Insurance Policy offers guaranteed coverage regardless of your health.

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 a tax-advantaged 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 charged against your death benefit. If you die with an outstanding loan, any amount owed, plus interest, will be deducted from your death benefit before your beneficiary receives the rest. AIG’s Final Expense Whole Life Insurance Policy offers guaranteed coverage regardless of your health.

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, or 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. AIG’s Final Expense Whole Life Insurance Policy offers guaranteed coverage regardless of your health.

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.

Waiver of the Premium Clause:

the premium is exempt if you are totally disabled before a certain age, generally between 60 and 65 years.

Lifestyle Income Solution:

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 tailored to create an excellent life insurance policy. But the underlying question remains …

Is AIG the best company for your needs and objectives?
Can be.

But without talking to you and discovering your goals, needs and objectives, we cannot say which company will best suit your needs.

  • AIG Life Insurance Review and Compare Rates Quotes.