HOUSTON--(BUSINESS WIRE)--Mar. 17, 2014--
American International Group, Inc. (NYSE:AIG) today announced that it
has repriced AG Select-a-Term®, the highly customizable term
life insurance issued by American General Life Insurance Company.
Significant, competitive improvements were achieved, with up to 10
percent premium reductions in popular durations and risk classes, and
sometimes higher reductions1, and a market-leading position2
in 15, 20, 25 and 30 year term non-tobacco classes.
“AG Select-a-Term has always provided a well-structured combination of
flexibility and customization, with 17 term durations from which to
choose,” said Chris Ogburn, Vice President of Product Management for
AIG’s U.S. life insurance business. “AG Select-a-Term’s newly lowered
premiums, together with the product’s flexibility, can make it a smart
solution for many family and business needs. Further, the repricing of
AG Select-a-Term reflects our ongoing commitment to our valued
distribution partners; this is yet another step we’ve taken that’s
intended to help them thrive in today’s economy.”
With extended ages and durations available, AG Select-a-Term offers
affordable coverage for policy holders until age 90. A wide selection of
available riders makes the policy further customizable. AG Select-a-Term
can be converted to AG ROP Select-a-Term®, fixed, index and
guaranteed universal life insurance, including AG Secure Lifetime GUL®
II, with some conditions and product limitations applying.
For more information on the competitive pricing and superior flexibility
of AG Select-a-Term, visit www.aig.com/termlife.
1 Premium reductions are generally between 1%-8%.
position defined as Top 3 by price against leading carriers on March 17,
2014. Comparison based on 15, 20, 25, 30 year term duration, male and
female quinquennial ages 20-75, $250,000, $500,000 and $1,500,000 face
amounts in non-tobacco underwriting classes.
Policies issued by American General Life Insurance Company (AGL).
Issuing company AGL is responsible for financial obligations of
insurance products and is a member of American International Group, Inc.
(AIG). Guarantees are backed by the claims-paying ability of AGL. AG
Select-a-Term Policy Form Number 07007, AG Select-a-Term Policy Form
Number ICC10-07007, AG ROP Select-a-Term Policy Form Number 10001.
AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc., a leading international insurance organization serving
customers in more than 130 countries. 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. 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. AIG
common stock is listed on the New York Stock Exchange and the Tokyo
Additional information about AIG can be found at www.aig.com
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Source: American International Group, Inc.
AIG Life and Retirement
Stasa Cushman, 713-831-6414