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American General Life Insurance Company
American International Group, Inc.
American General Life Insurance Company
175 Water Street
New York, NY 10038
Phone: (212) 770-7000
Web: www.AIG.com
About American General Life
As a member company of the AIG Group of companies, American General enjoys an impeccable reputation that dates back 100 years. The company has been continuously safeguarding the hopes and dreams of individuals and families for a century. Since its inception, American General has grown its footprint while serving families across America and now ranks as one of the leading insurers in North America.
American General’s Financial Stability
When consumers agree to purchase life insurance, they are accepting the company’s promise to pay in exchange for a premium. The promise put forth by the insurer must be a long term commitment since many life insurance claims are filed decades after the insurance contract is signed by both parties.
Buying insurance based solely on rates can lead to tremendous disappointment if the company you have contracted with is unable to pay a claim because of financial difficulty. American General has demonstrated year after year that they will always be in a position to pay its claims when a policyholder’s beneficiary needs it most.
Here are the financial ratings for American General Life Insurance Company:| Rating Service | Company Rate |
| A.M. Best | A |
| Standard & Poor’s | A+ |
| Moody’s Investors Services | A2 |
| Fitch | A+ |
When insurance companies are highly rated by the national rating services, it not only shows the company’s current financial stability but also indicates that the company demonstrates a positive outlook for the future.
American General’s Life Insurance Products
In its efforts to accommodate individuals and families with the financial protection they need, American General offers a comprehensive portfolio of life insurance products.
Term Life Insurance
Term insurance is certainly one of the most popular products for individuals and families looking to replace an income stream in the event of an unexpected death. With term insurance, applicants can get large face amounts at very affordable rates when compared to other permanent cash-value products. American General offers two term products: Select-A-Term and ROP Select-a-Term.
Select-A-Term
American General’s Select-a-Term product is similar to other term products in the marketplace except the company will issue policies that are year specific. For example, if you need coverage for only 23 years, you do not have to purchase a 25-year policy like you would with most other carriers.
The Select-a-Term policy is also convertible for the duration of the policy or until the insured turns 70, whichever comes first. This means that if you have a 30-year term policy and are under age 70, you can convert your policy to a permanent policy without proof of insurability until you term 70 years old.
The Select-A-Term product is also very affordable. Here are the actual rates for a very healthy male and a female non-smoker for $500,000 20-year policy:| Age of Applicant | Male Non-Smoker | Female Non-Smoker |
|---|---|---|
| 25 | $19.57 | $16.67 |
| 30 | $19.92 | $17.27 |
| 35 | $21.28 | $18.37 |
| 40 | $29.92 | $25.84 |
| 45 | $48.60 | $38.47 |
| 50 | $75.66 | $58.01 |
For accurate rates for your actual age and face amount, please use our instant term quote form on the right side of this page.
ROP Select-A-Term
The ROP (Return of Premium) Select-A-Term product is similar to the Select-A-Term policy except for one very valuable difference. With ROP Select-A-Term, the insured can elect to have the premium paid to the company returned in a tax-free lump sum payment when the policy expires rather than renew or convert the policy. Because of the ROP stipulation, this policy will cost more than the Select-A-Term policy.
For example, instead of a male non-smoker paying $19.57 a month for a $500,000 20-year term policy, the ROP Select-A-Term premium would be at least 30% to 50% higher.
Universal Life Insurance
For individuals and families who prefer permanent life insurance that also earns cash value and accumulates wealth over the life of the policy, a Universal Life Policy may be the perfect solution. Although Universal Life costs more than term insurance, it’s typically much cheaper than Whole Life insurance and is flexible in terms of premium payment and face amount.
Once again, American General brings a great selection of products to the table to accommodate the needs and budget of the applicant.
| Universal Life Product | Product Highlights |
|---|---|
| AG Secure Survivor GUL II | The Secure Survivor GUL product is typically purchased by adult couples to safeguard their assets or fund business continuation plans. This policy offers a guaranteed death benefit as long as the policy is in force. |
| Elite Global Plus II | This US product is intended to accumulate wealth while providing a death benefit. The cash account can grow significantly since it is linked to the performance of various market indices; |
| Secure Lifetime GUL 3 | This is another form of guaranteed universal life insurance that offers a guaranteed death benefit and earns cash value. |
| Elite Index II | The Elite Index II provides an excellent solution for consumers and investors who want to take advantage of accumulating wealth without the risk that can accompany market losses. |
| Asset Protector | The asset protector offers extra policy benefits such as an accelerated death benefit that is paid to the insured in the event of a diagnosis with a chronic illness. |
| Value + IUL | The Value+IUL, policyholders are provided a guaranteed death benefit at more affordable rates because the cash value is not the focus of the policy. |
| Elite Survivor Index II | This IUL product offers three different interest crediting methods for insureds can select the best policy construction to meet their life insurance and investment goals. |
Employees who are maxing out tradition investments such as 401(k) or traditional IRAs should consider adding a LIRP (life insurance retirement plan) to their retirement planning so that the taxes and IRS constraints will not impact their ability to accumulate wealth for retirement.
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