AIG has been a life insurance market leader since 1919. They have operations in over 80 countries and an A.M. Best Rating of A.
AIG hosts weekly webinars covering a variety of different subjects – including life insurance products – that will help you become more comfortable selling their products. These are called "Webinar Wednesdays," and you can check out the upcoming webinars here. You can also access archived webinars including "Underwriting Sweet Spots" and "GUL Case Study."
AIG also offers a Final Expense product that you can check out here.
AIG Level Term
There are two level term products offered by AIG – select-a-term and also a one-year term product.
Select-a-Term
Truly customizable, guaranteed level term. Coverage available for a wide range of clients, for 18 durations, as long as 35 years, as well as a choice of conversion options, and face amounts as low as $100,000.
Choice of 10-year or 15- through 30-year terms, and a 35 year-term.
Full convertibility to a permanent life insurance policy up to the end of the level-premium period (or age 70 of the insured, whichever comes first). Extended conversion eligibility to the full suite of American General policies for the first 8 years for 10 year term durations, or the first 10 years for term durations of 15 years and greater.
A conversion credit in the amount of the term policy's annual premium, excluding premium for riders, is available on a full conversion to a permanent plan up to the 96th month (prior to the eighth policy anniversary) on 10 Year term contracts and up to the 120th month (prior to the tenth policy anniversary) for term contracts with Term Periods greater than 10 years. A prorated conversion credit is available on a partial conversion. The conversion credit feature is available under the same conversion eligibility rules.
A terminal illness endorsement to accelerate the lesser of $250,000, or 50 percent of the policy death benefit, if insured is diagnosed by a qualified physician as having 12 months or less to live.
AIG offers 3 Index UL options: Max Accumulator+, AG Extend IUL, and Value+ Protector.
Max Accumulator+
Helps clients accumulate and access tax-deferred funds while providing protection against losses due to market volatility.
Select Income Rider - Provides installment death benefit payout which may lower cost of insurance charges & increase cash value resulting in more income
Income for Life rider - Converts cash value into a guaranteed stream of lifetime payments; optional cost of living increases and annual step-up feature for potentially higher income
Dollar Cost Averaging Rider - Potentially smooths out the impacts of market fluctuations by transferring premium from the dollar cost averaging account in installments
Accelerated Access Solution® – updated chronic illness rider no longer requires qualifying condition to be permanent; 3 payout options available - funds can be used for any purpose
4 Index Interest Accounts with AVE:
1 Blend Participation rate account based on ML Strategic Balance® Index
1 Global Blend Participation rate account based on PIMCO Global Optima® Index
1 High Bonus rate account based on based on S&P 500® Index
1 High Cap rate account based on S&P 500® Index
Interactive IUL Sales Tool: Life To The Max Consumer-approved sales tool provides easy access
Educational, interactive site for use by agents during client meetings
Easy access - no user ID or password required
Useful information regarding the potential challenges to a successful retirement
Variety of specific scenarios to see the impact it has on retirement assets
Now Featuring Non-Medical Underwriting
No lab tests, physical exam, or APS for eligible proposed insureds
Up to Preferred Plus underwriting class available
If amount applied on this application plus any coverage issued within the last 12 months is equal to or greater than $500,000, this new coverage applied for will be subject to age and face requirements for full underwriting
AG Extend IUL
The only product that accepts term conversions beyond the fifth year of term coverage. Index UL with three interest crediting options.
Flexible premium universal life insurance product for issue only as a result of a term conversion after the fifth term policy year.
Ability to allocate premiums among Declared Interest Account, Cap Rate Index Account and Participation Rate Index Account
Interest crediting based in part on the one year point-to-point growth in the S&P 500® when either the Cap Rate Index Account or the Participation Rate Index Account is selected
Strong death benefit protection
High internal rate of return on the death benefit
20-year no-lapse guarantee (15 years for ages 61-70, and 5 years for ages 71-80)
Provides a no-lapse guarantee rider to age 100
Value+ Protector
Increase life insurance benefits with unique liquidity options while helping protect against losses due to market volatility.
Liquidity and Flexibility Features
If Strong Index Performance feature – Automatically included in policy at no charge, feature allows cash value to purchase additional, paid-up life insurance without underwriting and without decreasing initial death benefit. Cash value can also be used for any other purpose.
Excess Funding feature – Automatically included in policy at no charge, withdrawals of excess premiums can be made in policy year 20 without decreasing death benefit3
Protected Premium rider – For policies funded early, client may withdraw funds above the target premium in years 2 to 5 with no surrender charge penalties
Accelerated Access Solution® – Updated chronic illness rider no longer requires qualifying condition to be permanent; 3 payout options available - funds can be used for any purpose
Dollar Cost Averaging Rider – Potentially smooths out the impacts of market fluctuations by transferring premium from the dollar cost averaging account in installments
Select Income Rider – Provides installment death benefit payout which may lower cost of insurance charges & increase cash value which can reduce required premium payments
4 Index Interest Accounts with AVE:
1 Blend Participation rate account based on ML Strategic Balance® Index
1 Global Blend Participation rate account based on PIMCO Global Optima® Index
1 Par rate account based on based on S&P 500® Index
1 Cap rate account based on S&P 500® Index
AIG Universal Life – Secure Lifetime GUL 3
Secure Lifetime GUL 3 delivers guaranteed protection with a unique set of features unmatched in the industry including; Guaranteed Premiums, Guaranteed Minimum Cash Value and Guaranteed Return of Premium in Year 20 (at 50%) or Year 25 (at 100%).
Guaranteed death benefit protection
Flexible policy design to match your client’s personal needs and budget
Guaranteed Return of Premium – 50% in year 20 or 100% in year 25
Guaranteed minimum cash value so you’re client doesn’t have to worry about market volatility
Unique pro-rata adjustments on partial withdrawals allow policy to remain in force with proportionally reduced death benefit, cash values, and guaranteed premiums
Maximum issue age of 80 available on all underwriting classes
Selection of optional living benefit riders for customization, including the Accelerated Access Solution and Lifestyle Income Solution
Living Benefit Riders Accelerated Access Solution
Updated chronic illness rider no longer requires a qualifying condition to be permanent
Multiple benefit payment options - three options available including an IRS maximum per diem amount which provides a form of inflation protection for the policy owner’s benefit
Waiver of monthly deduction – policy payments stop for base policy and riders as long as policy owner meets the chronic illness requirement
Flexible options with total benefit amount – select any amount between 50% -100% of base policy death benefit
No receipts required – benefits paid irrespective of actual costs incurred
Guaranteed benefits – no increases in rider costs or decreases in benefits paid based on changing market conditions
Not a “use or lose it” policy – benefits are paid no matter what . . . either when the chronic illness requirement is met or via death benefits
Control over how money is spent – up to the policy holder how the funds are used, not restricted via the policy
No waiting period – chronic illness benefits are available as soon as policy is issued (90 day elimination period applies)
Lifestyle Income Solution, our longevity rider, helps protect against the possibility of outliving retirement income:
Withdraw up to 10% of death benefit per year
Typically payments are tax-free up to basis; ordinary income after
Any remaining death benefit will be paid to beneficiaries
No additional underwriting required
AIG Variable Universal Life – AG Platinum Choice VUL2
AG Platinum Choice VUL provides death benefit protection, upside market potential, cash accumulation for future financial needs, and the flexibility to guarantee your client’s death benefit throughout their lifetime.
-Robust death benefit guarantees to choose from:
20-Year Benefit Rider at no additional cost as long as the guaranteed minimum premium is paid
Optional long-term death benefit guaranteed up to maturity through our Lapse Protection Benefit Rider (especially competitive up to age 90) (rider requires certain investment restrictions; see prospectus for details)
-Life insurance you don’t have to die to use:
Accelerated Access Solution® helps protect against rising chronic illness expenses. No permanency required!
-Attractive cash accumulation design for the supplemental retirement income strategy sale
-46 investment options from renowned money managers
-Flexibility for individual, business or estate planning needs
AIG Whole Life – American Elite Whole Life®
Whole life with guaranteed cash value, guaranteed level fixed-premium, level-death benefit, nonparticipating, single life, endowment at age 100 contract. Nonparticipating Whole Life product issued for term conversions only.
Issue ages 0-99
$1,000 Minimum Benefit
Accidental Death Benefit Rider
Premium Waiver Rider
Child Rider
Terminal Illness Accelerated Death Benefit
AIG State Availability
AIG offers life insurance products in all states. You can check out their comprehensive state availability and approvals chart here (you must be signed into the AIG agent portal to view).
New to Senior Market Life Insurance Sales?
Life insurance sales don't have to be overwhelming! In fact, we do everything we can to make it easy here at New Horizons.
Check out the Quick Training Guide available as part of the Life Insurance Marketing Kit:
