The purchase of life Insurance coverage can be a major decision as it relates to your overall financial plan. One reason for this is because life insurance proceeds can mean the difference between loved ones being able to move forward financially or face financial hardship in the future.

The proceeds from life Insurance Coverage are received free of income taxation by the policy’s beneficiary (or beneficiaries). This means that the recipient(s) can use 100% of the amount that is received for paying off large debts (such as a home mortgage) and replacing the insured’s income that may be needed for continuing to pay everyday living expenses.

When choosing a life insurance plan, it is important that you determine the proper type and amount of coverage. Also, it is also essential to know about the financial strength and stability of the insurance company that you’re buying the coverage through. That is because you will want the company to be there if or when a claim is filed. One insurance carrier that meets the financial strength criteria, and that is also known for having an appropriate method of paying out its policy holder’s claims, is AIG.

About AIG Insurance Company

AIG, or American Insurance Group, has been in the insurance industry for nearly 100 years – and it is now considered to be the largest insurance carrier in the world. Throughout its time in business, AIG has grown and expanded exponentially – and today, this company serves roughly 90 million customers, both in the business and the individual marketplace. These customers are located in numerous countries and regions around the globe.

This insurance carrier offers a broad range of wealth accumulation and protection products, which include life insurance, retirement planning solutions, property and casualty coverage, mortgage insurance, and aircraft leasing products.

AIG has received numerous accolades and awards, which include:

• Best Cyber Risk Insurer at the 2015 Cyber Risk Awards
• One of the Top 10 Best Companies in Claims Service
• Recognition for its Corporate and Philanthropic Leadership
• DALBAR Annuity Service Awards – for many years in a row
• Travvy Awards
• Business Innovation Awards

Due to its financial strength and stability, as well as to its reliable payout of its policy holder claims, AIG has received high grades from the insurer rating agencies. These include the following:

• A+ from Standard & Poor’s
• A2 from Moody’s
• A+ from Fitch
• A from A.M. Best Company

Also, even though American Insurance Group is not an accredited member of the Better Business Bureau (BBB), the company has been given a grade of A+ by the BBB. (This is on an overall grade scale of A+ through F).

Over the past three years, AIG has closed out a total of 72 customer complaints – of which 27 have been closed out within the previous 12 months. Of the total 72 complaints, 41 were in regard to problems with products and/or services, 17 were in regard to billing and/or collection issues, 8 had to do with delivery issues, 4 were in regard to problems with guarantee and/or warranty, and the other two had to do with advertising and/or sales issues.

Life Insurance Policies Offered Through AIG

There is a broad range of life insurance coverage that is provided by AIG. These include both term and permanent life insurance options, such as:

• Term Life Insurance – Term life insurance offers death benefit protection only, without a cash value component. As its name implies, term life insurance is purchased for a set period, or “term.” These terms can run for just a few years, or they can be as long as 20, 25, 30, or 35 years. (This will often depend on the age and health condition of the insured at the time the policy is initially applied for). Because term life is considered to be the most basic type of life insurance protection in the market, it is often possible to obtain a high amount of benefit for a very affordable premium price.
• Whole Life Insurance – Whole life is a form of permanent life insurance protection. With whole life, there is both a death benefit and a cash value portion of the policy. The amount of the death benefit – and the premium price – are guaranteed throughout the life of the policy. The cash that is in the policy’s cash value is allowed to grow tax-deferred, which means that there is no tax due on the gain of these funds unless or until they are withdrawn.
• Universal Life Insurance – Universal life is another form of permanent life insurance coverage. Here, too, there is a death benefit and a cash component. However, universal life insurance is thought to be more flexible than whole life because the holder of a universal life insurance policy can choose how much of the policy’s premium will go towards the death benefit, and how much will go into the cash value component (within certain guidelines). There can also be some flexibility with universal life regarding the due date of the premium over time.
• Variable Universal Life Insurance – Variable Universal life insurance is similar to regular universal life, except that the funds that are in the policy’s cash value may be placed into various equity investments, such as mutual funds. This allows the ability for the cash value to grow considerably, based on the performance of the underlying investments. However, due to market exposure, there can also be more risk.

A Closer Look at Term Life Insurance Coverage Through AIG Insurance Company

A term life insurance policy from AIG may be a good option for those who are seeking coverage for “temporary” needs. For instance, this could include paying off a 15 or 30-year mortgage, and ensuring that tuition costs for a child or a grandchild are paid in the future.

When considering a term policy from AIG, there is the Select-a-Term Policy, and the AG ROP Select-A-term. With the Select-A-Term plan, an insured can be covered for ten years, 15 years, or even for up to 35 years. In fact, this plan offers 18 different time periods, or terms, to choose from. Because of this, the plan can be essentially better customized for meeting a client’s specific coverage needs.

The Select-A-Term policy is also fully convertible, meaning that this policy can be converted over into a permanent life insurance policy at any time, up until the end of the policy’s level premium period, or up to the insured’s age 70 – whichever of these events come first.

The conversion option on the Select-A-Term policy does not require that the insured take a medical examination to qualify, nor will he or she have to prove evidence of insurability to move forward with the plan’s conversion.

AIG also offers the AG ROP Select-A-Term plan, where an insured can obtain life insurance protection and possibly receive their money back later. In this case, when the insured reaches the end of his or her level premium term – without a claim being incurred – they can have the option of receiving back their premium payments. These funds will be obtained tax-free.

The term life insurance that is offered by AIG can provide clients with affordable and fixed premium rates, as well as guaranteed death benefit throughout the entire level period. This can help with budgeting for insurance needs, as well as providing peace of mind to both the insured, as well as his or her loved ones.

Other Products Provided by AIG

Also, to life insurance coverage, American Insurance Group (AIG) offers other protection alternatives, such as:

• Travel Insurance – AIG offers travel insurance plans that cover travelers worldwide. These plans can include coverage for trip cancellations, valuables, and for medical expenses that are incurred while traveling.
• Group Benefits – AIG also offers a broad range of group benefits, which include employer funded solutions, as well as voluntary offerings for companies’ employees
• Accident and Health – AIG provides accidental death and dismemberment coverage, which will pay out a benefit to policyholders and survivors if the insured is killed or injured in a qualifying accident. This type of coverage can go well with a high deductible health insurance plan. Because there is no medical exam to content with as a part of the underwriting process, this coverage can be approved and issued quickly.

Also, AIG’s private client group provides complete protection for successful individuals and families – and all that is important to them. This area of AIG provides tailored coverage, as well as world-class services that can help in reducing risk, and that can also maximize clients’ safety.

AIG offers a range of different financial investments, too, which include the following:

• Retirement Annuities – Retirement annuities help individuals and couples to grow wealth over time in a tax-advantaged manner, and also to convert their money over into an ongoing income stream. With an annuity, a stream of guaranteed lifetime income can be chosen that will last for the remainder of the person’s life – regardless of how long that may be. With AIG, there are different categories of annuities that are available, which include variable, fixed, and fixed indexed, as well as the option of either an immediate or a deferred product option.
• Mutual Funds – Through AIG, customers can choose from many different types of mutual funds. These include Value Funds, Growth and Income Funds, Blended Funds, Growth Funds, Specialty Funds, Fixed Income Funds, and Asset Allocation Funds. These mutual funds can help to grow wealth, as well as to provide income to those who are in retirement.
• Structured Settlements – Structured settlements can provide financial security for those who are the victim of personal injury. These financial vehicles can offer guaranteed income, as well as tax-free payment streams.
•  VALIC – There are numerous financial products available for those who are members of public and non-profit organizations and entities. Today, AIG offers these to more than two million people.

Additional products that are provided through AIG include home loans.

Where to Get the Best Premium Quotes on AIG Term Life Insurance Coverage

If you are seeking the best premium quotes on AIG term life insurance coverage – or for any life insurance product – then it is typically recommended that you work in conjunction with an independent life insurance agency or brokerage. In doing so, you will be better able to view policy and price information, side-by-side, in an unbiased manner. From there, you will be able to choose the option that will work the best for you.

When you are ready to determine which life insurance product and price will be the best for you, we can help. We are an independent insurance brokerage, and we work with many of the top life insurance providers in the industry. We can help you to compare the top products quickly and conveniently, directly from your computer, and without you having to meet in person with a life insurance agent. If you are ready to begin, then just simply fill out our quote form.

Should you determine that you still have any questions or concerns regarding life insurance coverage, please feel free to reach out to us directly by phone. Our experts can be contacted toll-free by dialing 877-235-9299.

We understand that the purchase of life insurance coverage can be a bit overwhelming. There are so many variables to choose from – and you want to ensure that you are getting the proper coverage for your needs. This process can be made a great deal easier when you have an ally on your side. So, contact us today – we’re here to help.

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