Why AIG Life Insurance?

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."

Here's a link to the AIG life insurance agent portal.

AIG Life Insurance Products

AIG offers the following life insurance types:

  • Level Term
  • Index Universal Life
  • Universal Life
  • Variable Universal Life
  • Whole Life

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.

  • EASY quoting tool!!
  • 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.
  • Issue Ages: 20 – 80 (term durations vary with issue ages).
  • Minimum Death Benefit: $100,000.

AG Ultra One

A one-year term life insurance product.

  • Protection during business changes
  • Options for estate modifications
  • Unisex and Unismoke
  • Issue Ages: 20-85
  • Minimum Death Benefit: $100,000
  • Policy is not convertible or renewable
  • No available riders      

AIG Index UL

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:

In addition, a great place to start is our Ultimate Guide to Selling Life Insurance in the Senior Market.

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This product may be available in other states not listed. Please contact us to inquire.