AIG Reprices its Flagship Term Insurance Product
June 16 2015 - 9:03AM
Business Wire
AG Select-a-Term® features new lower, market-leading
rates plus Optionality®
American International Group, Inc. (NYSE: AIG), a leader in the
term life insurance marketplace, announced today that it has
repriced AG Select-a-Term, the flagship term product issued by
American General Life Insurance Company (AGL) and The United States
Life Insurance Company in the City of New York (U.S. Life).
For the New York-issued product, nearly 97 percent of premium
rates rank in the top three in popular durations and risk classes;
nearly 80 percent of the time, they rank number one. Nationally,
more than 90 percent of premium rates for AG Select-a-Term rank in
the top three in popular durations and risk classes, and nearly 65
percent of the premium rates rank number one. In addition, AGL and
U.S. Life will soon announce substantial underwriting changes to
give distribution partners and customers more competitive offers –
in less time.
“American consumers and companies need life insurance
protection, and with the significant, competitive rate improvements
for AG Select-a-Term, they now have the opportunity to purchase the
amount of coverage they need at market-leading prices,” said Rod
Rishel, U.S. Head of Life Insurance, AIG Consumer Insurance.
“Furthermore, this term insurance solution offers great
customization: what we call Optionality.”
AG Select-a-Term features a unique mix of flexibility and reach:
guaranteed level term coverage for 17 durations, including 10-year
and 15- through 30-year terms. Issue ages and durations make
coverage available until age 95 for older clients. AG Select-a-Term
remains convertible to the earlier of age 70 or the end of the
level term period.
For more details on the market-leading pricing and vast
flexibility of AG Select-a-Term, as well as innovative processing
that can help speed application submission, visit
www.aig.com/termlife.
Policies issued by: American General Life Insurance Company
(AGL), Policy Form Numbers 07007, ICC10-07007, except in New York,
where issued by The United States Life Insurance Company in the
City of New York (U.S. Life), Policy Form Number 09007N. Issuing
companies AGL and U.S. Life are responsible for financial
obligations of insurance products and are members of American
International Group, Inc. (AIG). Products may not be available in
all states and product features, including rates, may vary by
state.
Rates vary between AG Select-a-Term issued by AGL and AG
Select-a-Term issued by U.S. Life. Ranking percentages are based on
15, 20, 25, and 30 year term durations; male and female
quinquennial ages 20-75; and $250,000, $500,000 and $1,500,000 face
amounts in non-tobacco underwriting classes, against 14 leading
competitors (AGL) and 12 leading competitors (U.S. Life). 960 cells
sampled on May 31, 2015.
AIG is a leading international insurance organization serving
customers in more than 130 countries and jurisdictions. AIG
companies serve commercial, institutional, and individual customers
through one of the most extensive worldwide property-casualty
networks of any insurer. In addition, AIG companies are leading
providers of life insurance and retirement services in the United
States. AIG common stock is listed on the New York Stock Exchange
and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com |
YouTube: www.youtube.com/aig | Twitter: @aiginsurance | LinkedIn:
http://www.linkedin.com/company/aig |
AIG is the marketing name for the worldwide property-casualty,
life and retirement, and general insurance operations of American
International Group, Inc. For additional information, please visit
our website at www.aig.com. All products and services are written
or provided by subsidiaries or affiliates of American International
Group, Inc. Products or services may not be available in all
countries, and coverage is subject to actual policy language.
Non-insurance products and services may be provided by independent
third parties. Certain property-casualty coverages may be provided
by a surplus lines insurer. Surplus lines insurers do not generally
participate in state guaranty funds, and insureds are therefore not
protected by such funds.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150616005110/en/
AIGKere Thomas, 212-458-7957kere.thomas@aig.com
American (NYSE:AIG)
Historical Stock Chart
From Aug 2024 to Sep 2024
American (NYSE:AIG)
Historical Stock Chart
From Sep 2023 to Sep 2024