Term life insurance product features market-leading premium rates and
Optionality®
HOUSTON--(BUSINESS WIRE)--Feb. 9, 2015--
American International Group, Inc. (NYSE: AIG) announced today that it
has repriced AG Select-a-Term, the flagship term product issued by
American General Life Insurance Company, and also relaunched AG
Select-a-Term in New York, where it is issued by The United States Life
Insurance Company in the City of New York (U.S. Life).
For the New York issued product, nearly 90 percent of premium rates rank
in the top three in popular durations and risk classes; almost half of
the time, they rank number one. Nationally, nearly 75 percent of premium
rates for AG Select-a-Term rank in the top three in popular durations
and risk classes, and almost 30 percent of the premium rates rank number
one.1
“American families and businesses need the protection of life insurance,
and with new, lower rates, AG Select-a-Term offers them the opportunity
to buy just what they need at a market-leading price,” said James A.
Mallon, President, Life Insurance, AIG Consumer Insurance. “This product
is designed to provide invaluable flexibility and help clients choose
wisely, because they deserve life insurance with Optionality®.”
AG Select-a-Term offers a unique mix of customization and reach:
guaranteed level term coverage for 17 durations, including 10-year and
15- through 30-year. Issue ages and durations make coverage available
until age 95 for older clients. The product remains convertible to the
earlier of age 70 or the end of the level term period.
For more information on the competitive pricing and superior flexibility
of AG Select-a-Term, visit www.aig.com/termlife.
1The comparisons 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 leading competitors on January 26, 2015.
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 (US
Life), Policy Form Number 09007N. Issuing companies AGL and US 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 may vary by state.
American International Group, Inc. (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
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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.
Source: American International Group, Inc.
AIG’s Life Insurance Division
Stasa Cushman, 713-831-6414
stasa.cushman@aig.com