|AIG AMERICAN GENERAL ANNOUNCES EXTENDED TERM PERIODS ON ITS INNOVATIVE AIG SELECT-A-TERM(R)|
HOUSTON--March 3, 2008--American General Life Insurance Company (American General Life), a subsidiary of American International Group, Inc. (AIG), has introduced five additional term periods for its innovative term life insurance product, AIG Select-a-Term(R). Previously, terms were available for years 10, 12 and 15 through 30, but now customers may also choose from terms of 31 to 35 years (depending on issue age and tobacco use status).
Introducing additional term periods follows January 2008 rate changes for the product. The combination of low rates and more term choices gives AIG Select-a-Term unparalleled reach and flexibility for a variety of clients and needs.
"With January's rate changes and our newly expanded term periods, agents are able to offer an enhanced AIG Select-a-Term to their customers," said Rod Rishel, vice president of fixed life products for AIG American General. "Now this groundbreaking term product provides customization to allow for even a broader range of specific life events."
For example, a 32-year-old male with a preferred plus classification can purchase $1 million of coverage that will last him 35 years, to the possible retirement age of 67, for only a $1,220 annual premium*. Assuming his only objective is to replace income until his retirement, the AIG Select-a-Term is a perfect fit.
AIG Select-a-Term provides agents the ability to offer their clients term durations outside of the traditional five-year periods, including a 12-year plan and plans for each year, 15 through 35. This enables customers to link their term policy to specific life events, including retirement, the pay-off of a mortgage or funding their child's education.
AIG Select-a-Term also offers guaranteed death benefit coverage with a conversion feature that allows the policy owner to exchange the term policy for permanent life insurance coverage, as well as a terminal illness endorsement with the option to accelerate an amount of the initial policy's death benefit in qualifying circumstances.
For more information on AIG Select-a-Term, visit www.aigag.com/Select-a-Term.
*Premium rates current as of February 25, 2008; rates may vary by state. Premiums for other rate classes, ages and payment plans are available. Premium charges will depend on each applicant's evidence of insurability. Premiums increase at the end of the guaranteed term if the policy is renewed. Death benefit remains level and is payable in lump sum, or installments, if so elected. The insurance company may contest the policy for two years from date of policy issue for material misstatements or omissions on the application. Death benefit is payable from any cause, except suicide within first two policy years. In the event of suicide in the first two years, policy is limited to return of premium paid.
AIG American General, www.aigag.com, is the marketing name for the insurance companies and affiliates comprising the domestic life operations of American International Group, Inc., including American General Life Insurance Company. AIG American General-branded companies offer a broad spectrum of fixed and variable life insurance, annuities and accident and health products to serve the financial and estate planning needs of its customers throughout the United States.
American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Paris and Tokyo.
AIG Select-A-Term (Form Number 07007) and Terminal Illness Endorsement (Form Number 91401) issued by American General Life Insurance Company (American General Life), a subsidiary of American International Group, Inc. (AIG), 2727-A Allen Parkway, Houston, Texas 77019. The underwriting risks, financial obligations and support functions associated with the products issued by American General Life are its responsibility. AIG does not underwrite any insurance policy referenced herein. American General Life is responsible for its own financial condition and contractual obligations. Guarantees are subject to the claims-paying ability of American General Life. American General Life does not solicit business in the state of New York. Policies and riders are not available in all states.