AG Select-a-Term® features new lower,
market-leading rates plus Optionality®
HOUSTON--(BUSINESS WIRE)--Jun. 16, 2015--
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/
Source: American International Group, Inc.
Kere Thomas, 212-458-7957