Insurance Policies - AIG

AIG's Universal Life Plans

AIG has three separate Universal Life programs with over 400 investment options so when you go shopping you better pick a broker who knows his/her stuff.

AIGs Life Provider plan is available from age 0 to 50 and at face amounts from $25,000 to $500,000. The lower face amounts are great for parents who want to set up a low cost level rate insurance policies for their children. Larger policies are available under the Life Dimension or Life Dimension Prestige series. The latter has no surrender charge if you want to withdraw fund in the early policy years.

Their Universal policies are available with a whole host of riders, including a critical illness, term 10, term 20 or children's term riders. Their investment options include AIM Trimark, Mackenzie, Franklin Templeton and AGF. They also offer index funds and guaranteed investments within their Universal Life accounts.

Their rates are competitive at most ages. A 45 year old male who applies for $250,000 of Universal life level cost coverage; the minimum premium (i.e. the premium to keep your plan Inforce) will be $175.39 a month.

Universal Life coverage on its own can be a confusing topic but when combined with AIG's myriad of investment and insurance choices it can be a little overwhelming. But if you do homework and work with qualified broker AIG can be great fit.

AIG Term Insurance Lineup

AIG offers Term 10 and Term 20 plans which are well priced and provide some competitive advantages. Both plans are renewable to 85 and they are convertible up to age 70. The plans also allow you add a living benefit rider thus saving the $6.75 a month policy fee

Their Easy Term 10 plan is available without medical tests however it should be noted you will still have to go through the traditional application and they may require a letter from your doctor.

Individuals who are in good health and have very good family health history can qualify for preferred or better yet for those in excellent health they can get preferred plus rates.

On the downside the plan name itself is confusing. AIG refers to two of their Term policies as Preferred Term 10 and Preferred Term 20 but the plan name implies that all policies are issued at preferred rates when in fact the majority of policies are issued at standard rates yet still carry the Preferred Term name. Additionally the plans are not available at face amounts of under $100,000 this can problematic older applicants on a tight budget.

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