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American General Life Insurance Company is the right choice for many because they seem to be the “jack of all trades” in the insurance industry. The Company’s underwriting is flexible, their pricing falls right in the upper area of the industry average, and they have exceptional customer service. The following strengths help AIG rank for one of the top life insurance companies.
Strengths:
- Great carrier for higher risk applicants, especially those looking for diabetic life insurance.
- A 25 year term product (most life insurance carriers only offer a 20 or 30 year term product). Particularly beneficial for those looking for a 30 year term but just aren’t comfortable with the price tag! You can also tailor your term to a specific length from 15-30 years.
- American General has some of the best policies with living benefit riders. AG offers an accelerated death benefit rider free of charge. If you are diagnosed terminally ill, you can receive a portion of your death benefit while you are still alive, which can be used to help pay bills, hospice, or other important matters.
- American General offers some of the lowest rates on Guaranteed Universal Life insurance to age 121. This is a fixed premium policy that becomes fully vested at age 121. If you die before age 121 it pays out the full face amount. If you live beyond age 121 then you can cash the policy in for the full face amount. Realistically, it is basically a whole life policy that lasts the rest of your life but with a lower premium. This is a great option for business succession planning such as funding a buy-sell agreement with life insurance.
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