Products from American General Life Insurance Company
The American General Life Insurance Company is a wholly owned subsidiary of the American International Group. American General offers a variety of cutting edge life insurance products, and they tend to be extremely competitive from a price perspective as well. In this article, we will review the products that are currently offered from American General Life Insurance, and how they may fit in your financial life.
Term Products from American General Life Insurance
The American General Life Insurance company currently offers term life products in two main categories, regular term life, and return of premium term life.
American General Select-A-Term
American General’s Select-A-Term product is the term life insurance line that offers a product that has a price that is fixed for a guaranteed period of time. However, what makes the American General Life Insurance product different is that they offer different term lengths than most companies. The Select-a-Term product is offered in the usual 10, 15, 20, and 30 year periods, but you can also pick any year from 15-35 years as well.
For example, if you had 27 years left on your mortgage, and needed the coverage for that time, you would pick out a 27 year guaranteed term plan to provide the exact amount of coverage years that you need. This is also helpful in planning for children, businesses, and any other liability that doesn’t fall within the usual even number of term years.
Return of Premium Term from American General Life Insurance
You may have read our article that explains what return of premium term life insurance is, and how it works. American General is one of the leading companies that sell return of premium term life. Like the ordinary select-a-term product, you can pick an odd number of years in your return of premium term as well, once again retaining the ability to secure coverage for the exact amount of time that is needed. As with most return of premium products, you receive every penny that you put into the plan.
Universal Life from American General
American General Life Insurance also offers a variety of universal life and permanent life insurance plans. The ContinUL universal life insurance product offers you coverage for life, and you can structure the plan so that it lasts forever, or for an extended period of time. Many clients structure the plan so that it lasts until age 90 or 95, virtually insuring that they will have the plan until it pays out. However, since the life expectancies continue to climb, you can get the coverage guaranteed all of the way to the ripe old age of 125!
In addition to the ContinUL plan, American General offers several other universal life insurance plans that are geared towards accruing cash value. These plans not only offer the life insurance coverage, but double as an interest bearing savings vehicle that can help to plan for retirement, save for college, or to pay off earlier and have coverage for life.
As you can see, American General offers a variety of products for your life insurance needs. Whether it is ordinary term life, or a permanent plan, they have the suite of products to handle your needs.
Please visit this section of our site to get a quote from the American General Life Insurance company.
