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AIG Life Insurance Review 2016

AIG Life Insurance Review 2016American General Life Insurance (AIG) Review 2016

In this AIG Life Insurance Review 2016 (American General Life Insurance Company) I will tell you everything you want to know about purchasing a term life insurance with American General Life Insurance Company, a subsidiary of the insurance giant (AIG). To begin, American General is an outstanding life insurance company on many fronts. As an agent that has helped tens of thousands of families with their life insurance needs over the years I can attest that American General Life Insurance Company is a great company to deal with. They have excellent customer service, excellent rates and the name recognition of one of the largest insurance companies on the planet, American International Group (AIG). Let’s begin with the Pro’s and Con’s and then go into detail about rates and underwriting qualification.

Pros:   

  • Rates: AIG Life Insurance has some of the lowest rates in the country on term life insurance.
  • Underwriting- American General (AIG) has great underwriting in many areas including healthy people and those with; sleep apnea, diabetes type I and II and the use of insulin , cigar use up to 52 a year and being eligible for Preferred Plus non-tobacco, low blood pressure eligible for preferred rates and many other areas.
  • History- American General had been in business since 1850
  • Customer Service- AIG Life Insurance has won awards for customer service
  • Brand Awareness: American General’s parent company- AIG is one of the most well-known insurance companies in the world.

Cons:

AIG Life Insurance can be strict on qualifying for life insurance for seniors with minimal income as they don’t use social security income in qualifying income. Also, American General requires bankruptcies to be discharged two years before they will offer coverage and five years for multiple bankruptcies.

Overview:

American General Life Insurance Company also known as AIG Life Insurance is one of the top life insurance companies in America in 2016. We have placed thousands of policies with American General- AIG Life Insurance Company over the years to protect families and we continue to hear great feedback from our clients. They offer great rates and have favorable underwriting in many areas. American General has been in business for 160 years and is a trusted and well respected name in the insurance industry. American General Life Insurance Company- AIG Life Insurance has excellent customer service and also offers policy holders to control their policy online and over the phone. You can’t go wrong with having coverage with American General (AIG) Life Insurance Company.

AIG Life Insurance Term Life Insurance Key Facts 2016

Rating: A (Excellent) from A.M. Best

Founded: 1850

Size: $770 billion of life insurance inforce

Headquarters: Houston, Texas

Website: aig.com

AIG Life Insurance Ratings 2016

A.M. Best– A (Excellent)

S&P- A+

Moody’s- A2

Fitch- A+

Comdex Score: 80

AIG Life Insurance Term Lengths Available 2016

10, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30 year term length

AIG Life Insurance Health Classes 2016

Preferred Plus

Preferred

Standard Plus

Standard

Table Rates 1-8

AIG Life Insurance Payment Modes 2016

Monthly, Quarterly, Semi-annually and Annually

Annual payment typically has an 5% savings vs monthly payment

AIG Life Insurance Conversion Option

American General allows the conversion of their term life insurance policy to a permanent policy before without a medical exam or health questions before the term expires or before the age of 70, whichever comes first.

AIG Life Insurance Term Life Insurance Rates 2016

One of my most favorite things about American General (AIG) right now is their rates. Currently, American General has some of the best term life insurance rates in the entire country for many face amounts and term lengths. To show you what I mean, let’s have a look at the prices for a $500,000 term life insurance policy on 20 year fixed term for a 34 year old male, at the preferred rating class. As you can see below, American General has the lowest rates in the entire country.

 

Company Name    A.M. Best
Ratings as of
05/22/2015
Monthly Product Name Health Category
American General Life Insurance Company      A $29.66 Select-a-Term – 20 Year Preferred Non-Tobacco
AAA Life Insurance Company      A- $29.92 20 Year Level Term Preferred Non-Nicotine
United of Omaha Life Insurance Company      A+ $29.97 Term Life Answers 20 Preferred Non-Tobacco
Protective Life Insurance Company      A+ $29.53 Custom Choice UL – 20 Year No Lapse Preferred Non-Tobacco
MetLife Insurance Company USA      A+ $30.96 Guaranteed Level Term 20 Preferred Nonsmoker
Ohio National Life Assurance Corporation      A+ $29.84 FlexTerm Series IX – 20 Year Preferred Non-Smoker
Savings Bank Life Insurance Co of MA      A+ $30.02 T-20/20 – 20 Year Term Preferred Non-Nicotine
Banner Life Insurance Company      A+ $30.19 OPTerm 20 – 20 Year Term Preferred Non-Smoker
Ohio National Life Assurance Corporation      A+ $30.28 FlexTerm Series IX – 20 Year Plus Preferred Non-Smoker
Genworth Life and Annuity Insurance Co      A- $30.63 Colony Term 20 Preferred No Nicotine Use
Genworth Life Insurance Company      A- $30.63 Colony Term 20 Preferred No Nicotine Use
Cincinnati Life Insurance Company      A $30.80 LifeHorizons Termsetter 20 Select Plus Non-Smoker
American National Insurance Company      A $30.67 ANICO Signature Term 20 Preferred Non-tobacco
Standard Life and Accident Insurance Co      A $30.67 Advantage Shield Term 20 Preferred Non-tobacco
Principal National Life Insurance Co      A+ $31.50 20-Year Term (2015) Preferred non-tobacco
Transamerica Life Insurance Company      A+ $31.40 Trendsetter Super 20 Preferred Non-Smoker
ReliaStar Life Insurance Company      A $31.94 TermSmart 20 – 20 Year Term Preferred Non-Tobacco
Symetra Life Insurance Company      A $31.94 20 Year Level Term Preferred Non-Nicotine
Columbus Life Insurance Company      A+ $31.45 Nautical Term – 20 Year Preferred Non-tobacco
AXA Equitable Life Insurance Company      A+ $34.65 Equitable Term 20 (151X) Preferred Non-Tobacco
Ameritas Life Insurance Corp      A $32.70 Keystone Term 20 (CA, IN, OR, PA) Preferred Non-Tobacco
Transamerica Life Insurance Company      A+ $33.12 Trendsetter LB 20 Preferred Non-Smoker
Nationwide Life and Annuity Insurance Co      A+ $34.27 YourLife(SM) GLT 20 Year Term Preferred Nontobacco
Fidelity Life Association      A- $33.93 Hybrid Term – 20 Year (with blood test) Preferred Non-nicotine
TIAA-CREF Life Insurance Company      A++ $34.32 20-Year Level Term Preferred Non-Tobacco
Midland National Life Insurance Company      A+ $34.76 Premier CS6 – 20 Year Term Preferred Non-tobacco
North American Co for Life and Health      A+ $34.76 ADDvantage 20 Preferred Non-tobacco
John Hancock Life Insurance Company USA      A+ $37.45 Term 20 Preferred Non-Smoker
Royal Neighbors of America      A- $33.34 Royal Advantage 20 – 20 Year Level Term Preferred Non-Tobacco
EMC National Life Company      A- $35.60 Term Select – 20 Year Preferred Non-Tobacco
MTL Insurance Company      A- $36.45 SelecTerm-20 Preferred Non-Tobacco
Guardian Life Insurance Co of America      A++ $36.05 Level Term Gold 20 Preferred – NT
Minnesota Life Insurance Company      A+ $36.96 Advantage Elite Select Life – 20 Year Preferred Non-Tobacco
American United Life Insurance Company      A+ $37.38 American Protector Plus – 20-Year Level Preferred Nontobacco
Minnesota Life Insurance Company      A+ $38.07 Advantage Elite – 20 Year (w/ext conv.) Preferred Non-Tobacco
Assurity Life Insurance Company      A- $37.85 Term 350 Plus – 20-year Term Preferred Non-Tobacco
National Life Insurance Co of Vermont      A $38.28 GL-20 – 20 Year Level Term Preferred Nontobacco

Rates vary for each person. Please use our instant term quote engine to receive the rates for you.

AIG Life Insurance Underwriting 2016

Underwriting

American General has excellent underwriting for many health impairments. Below, I will go over in more details specifically what American General is a “go to” for and their general guidelines so you can see if they’re a good fit and which health class you may fall into with them. Also, keep in mind American General does offer a “credit” programing enabling them to something bump you up to a better class.

AIG Life Insurance Build Chart 2016

  Male (Men)

 Sample American General (AIG) Life Insurance Build Chart

(Height & Weight)

Height Preferred
Best
Preferred Standard Plus Standard
4′ 10″ 136 147 160 >160
4′ 11″ 141 153 166 >166
5′ 0″ 146 158 171 >171
5′ 1″ 150 163 177 >177
5′ 2″ 155 168 182 >182
5′ 3″ 160 173 188 >188
5′ 4″ 164 178 193 >193
5′ 5″ 179 183 199 >199
5′ 6″ 174 188 205 >205
5′ 7″ 179 193 211 >211
5′ 8″ 184 199 216 >216
5′ 9″ 189 204 222 >222
5′ 10″ 195 210 228 >228
5′ 11″ 200 215 234 >234
6′ 0″ 205 221 240 >240
6′ 1″ 211 227 246 >246
6′ 2″ 217 234 253 >253
6′ 3″ 222 240 260 >260
6′ 4″ 228 246 266 >266
6′ 5″ 234 253 273 >273
6′ 6″ 240 260 280 >280
6′ 7″ 245 266 287 >287
6′ 8″ 250 272 294 >294
6′ 9″ 255 278 301 >301

 

Female (Women)

 Sample American General (AIG) Life Insurance Build Chart (Height & Weight)
Height Preferred
Best
Preferred Standard Plus Standard
4′ 10″ 132 144 156 >156
4′ 11″ 137 149 162 >162
5′ 0″ 142 154 167 >167
5′ 1″ 147 159 172 >172
5′ 2″ 151 163 178 >178
5′ 3″ 156 168 183 >183
5′ 4″ 161 173 188 >188
5′ 5″ 165 178 194 >194
5′ 6″ 170 183 200 >200
5′ 7″ 175 188 205 >205
5′ 8″ 180 199 211 211
5′ 9″ 185 205 216 216
5′ 10″ 190 205 222 >222
5′ 11″ 195 210 227 >227
6′ 0″ 200 216 233 >233
6′ 1″ 206 222 239 >239
6′ 2″ 211 229 245 >245
6′ 3″ 217 235 251 >251
6′ 4″ 223 242 258 >258
6′ 5″ 229 248 264 >264
6′ 6″ 225 255 270 >270
6′ 7″ 241 261 277 >277

AIG Life Insurance Qualifying Health Classes 2016

Preferred Plus

Tobacco Use

No tobacco use in past 5 years except occasional cigar.

Cholesterol

Total Cholesterol 215 or less with hdl/cholesterol ratio 5.0 or less

Or total 290 with hdl/cholesterol ratio 4.5 or less

Blood Pressure

0 to 60 years old-140/85

61+-150/85 medication

Blood pressure medication still eligable for best health class if controlled for 6 months

Driving History

No DUI/DWI’s, reckless or suspensions in past 57 years

Family History

No coronary heart disease or cancer before the age of 60 in parents (some skin cancers ok)

Disregard if you are over age 65

Personal History

No cancer or ratable health impairment (basal and squamous may be ok)

Preferred

Tobacco Use

No tobacco use in past 3 years except occasional cigar.

Cholesterol

Total Cholesterol 245 or less with hdl/cholesterol ratio 6.0 or less

Or total 290 with hdl/cholesterol ratio 5.5 or less

Blood Pressure

0 to 60 years old-145/88

61+-155/88 medication

Or preferred plus blood pressure reading with medication

Driving History

No DUI/DWI’s, reckless or suspensions in past 6 years

Family History

No coronary heart disease or cancer before the age of 60 in parents (some skin cancers ok) Disregard if you are over age 65

Personal History

No cancer or ratable health impairment (basal and squamous may be ok)

Standard Plus

Tobacco Use

No tobacco use in past 1 year except occasional cigar.

Cholesterol

Total Cholesterol 260 or less with hdl/cholesterol ratio 7.0 or less

Or total 290 with hdl/cholesterol ratio 6.5 or less

Blood Pressure

0 to 60 years old-150/92

61+-160/92 medication

Or preferred blood pressure reading with medication-treatment

Driving History

No DUI/DWI’s, reckless or suspensions in past 5 years

Family History

1 coronary heart disease or cancer before the age of 60 in parents (some skin cancers ok) Disregard if you are over age 65

Personal History

No cancer or ratable health impairment (basal and squamous may be ok)

AIG Life Insurance for Diabetes 2016

American General has favorable guidelines for those who are diabetic or pre diabetic, including those who are on insulin. We also recommend taking a look at Banner Life Insurance as well if you have diabetes.

Table Rates Life Insurance

For those who have substandard health or build (height to weight) American General has some of the best life insurance table rates in the country.

Total Life Insurance

How much life insurance you are eligible for with American General (AIG)

Life insurance to protect family-income replacement

Age           Multiply by Earned Income

<40                         25x

41-50                     20x

51-55                     15x

56-65                     10x

66-70                     5

71+                         Individually determined

For example, a 50 year old who earns $100,000 a year is eligible for $2,000,000 in total life insurance.

Military Life Insurance

American General Life Insurance Company (AIG) has excellent guidelines and eligibility for active and retired military service members

Rank                                                      Coverage Limit

Academy or ROTC Cadet                  $250,000

E1-E2                                                     $100,000

E3-E5                                                     $250,000

E6-E7                                                     $500,000

E8-E9                                                     $750,000

WO1-W02                                           $1,000,000

W03-W04                                            $1,500,000

WO5                                                      Regular income multiples (above)

O1-O5                                                   $1,000,000

O4-O6                                                   $1,500,000

O7 and up                                           Regular income multiples (above)

Even military members that have orders for overseas active duty are eligible for life insurance as long as it’s not a “hot spot.”

American General AIG- Lab Scoring

American General is unique as they use a scoring method to determine their preferred rating classes. This uses different labs in a formula to determine the rate class. In many times it can help, once in a while it can lower the class.

AIG Life Insurance Scuba Diving 2016

Eligible for best rate class (Preferred Plus) if dives 100 feet or less and does 10 or less dives per year.

Bankruptcy

Has to be discharged two years, chapter 7, 11,12, 13, and multiple bankruptcies have to wait until last one has been discharged 5 years.

Names and Company Entities

American General Life Insurance Company is a subsidiary of American International Group (AIG). American General owns one of the nation’s largest term life insurance marketing agencies known as Matrix Direct. AIG Direct, (the inside marketing and call center for American General) is wholly owned subsidiary of American General Life Insurance Company. AIG Direct is a marketing name for Matrix Direct, which again is owned by American General, which is owned by AIG.

In New York

In New York American General goes by The United States Life Insurance Company of New York

Accidental Death and Dismemberment (AD&D) Insurance American General (AIG)

Matrix Direct, AIG Direct, sell a lot of accidental death and dismemberment policies.

AIG Life Insurance Review 2016

American General Life Insurance Company, also known as AIG Life Insurance Company is one of the top life insurance companies in America in 2016.  They have excellent rates, are highly rated and have favorable underwriting guidelines in many areas.  Since every person applying for life insurance is different, we recommended to compare rates from all the top companies to ensure you receive the best rate.

How to Get a American General Life Insurance- AIG Life Insurance Quote

Compare rates from all the top life insurance companies: Click here to get quotes from the top life insurance companies using a comparison tool.

 

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