AIG American General Life Insurance

Introducing AIG American General Life Insurance

For more than a century, AIG has been serving seniors in more than 80 countries and jurisdictions. Since 1872, AIG has helped seniors plan for the future and provide security for loved ones.

The AIG American General Final expense policy allows seniors to have peace of mind knowing that their final expenses won’t be passed on to surviving loved ones.

This article will drill down into the AIG Guaranteed Issue whole life insurance policy that does not require any medical underwriting. Virtually every senior, no matter their health status, can purchase affordable final expense and burial insurance.

What is AIG American General Guaranteed Issue Whole Life Insurance?

For seniors who might not medically qualify for traditional final expense and burial insurance, the AIG final expense policy is a guaranteed issue plan that helps seniors pay their final expenses life funeral, and burial costs in advance.

With the AIG Guaranteed Issue policy, a medical exam is never required and the company will not consider the applicant’s current and past health conditions to issue a policy.

Since this guaranteed issue policy is whole life insurance, the policyholder will enjoy all of the guarantees found in a traditional whole life insurance policy:

Noncancellable

Your AIG final expense policy cannot be canceled by the company for any reason other than non-payment of premiums. Your policy provides a lifetime benefit for your beneficiary.

Locked-in Level Premiums

Once your policy has been issued, your premiums remain the same forever. Even when you become much older or end up in long-term care or hospice facility, AIG cannot increase your premiums.

Builds Cash Value

Your AIG Guaranteed Issue final expense policy builds cash value over time. A portion of your premium payment is placed in your cash-value account and earns interest that is compounded and tax-deferred.

Your account can be accessed at any time via policy loans or withdrawals for any reason and without regard to credit status or payback. Any outstanding policy loans will simply be deducted from the death benefit.

AIG American General Life Insurance Financial Stability

Although many seniors might consider insurance rates most important, most understand that a life insurance policy is a promise to pay a benefit in exchange for a premium. However, since that promise must be kept for the lifetime of the policyholder, seniors need to know the company will be there when they need it.

Life insurance companies can demonstrate their financial stability by being rated by the national rating services. AIG American General is pleased to share the company’s ratings with any customer or prospective customer considering its products:

American General policyholders can have peace of mind knowing that the insurer has the financial strength it promises the policyholder for a lifetime.

AIG Guaranteed Issue Insurance Product Highlights

The AIG American General Guaranteed Issue product is a straightforward life insurance product with minimal requirements to get affordable coverage quickly.

Senior Benefits Consulting is paid by the insurance company so applicants are never charged a fee for offering advice and assisting with the policy purchase.

How Much does AIG Guaranteed Issue Life Insurance Cost?

All life insurance companies generally calculate rates based on the applicant’s age, health, lifestyle, type of policy, and death benefit. Since a guaranteed issue life policy does not consider your current or past health issues, a policy can be issued very quickly.

Here are actual rates for seniors between 50 and 80-years-old for $10,000 in coverage:

The Waiting Period for Guaranteed Issue Life Insurance

Since AIG is willing to accept an unknown health risk, they will apply a two-year waiting period before the insured is eligible for the full death benefit for death resulting from natural causes.

However, the waiting period does not apply to an insured who dies during the waiting period because of accidental causes.

During the first two years of coverage, AIG will pay a death benefit equal to 110% of all premiums paid into the policy. Beginning in the third year and thereafter, the company will pay the full benefit to the beneficiary for death by any cause.

For accurate rates for your actual age, please use our instant quote form on the right side of the page of contact Senior Benefits Consulting at (920) 399-8134.

What about Living Benefits?

Every AIG Guaranteed Issue final expense policy will include an Accelerated Death Benefit rider at no additional charge.

This rider provides for the insurance company to pay the following living benefits to the insured rather than the beneficiary:

Which Seniors should Consider Guaranteed Issue Life Insurance?

Although insurance companies who advertise guaranteed acceptance policy on TV, they generally don’t offer traditional policies that seniors might qualify for.

The insurance professionals at Senior Benefits Consulting consider guaranteed issue life insurance as a policy of last resort. In other words, seniors should apply for a level benefit plan or graded benefit plan first. If they do not medically qualify for either plan, then a guaranteed issue life insurance policy will be their best option.