AIG Reprices AG Select-a-Term® Insurance
March 17 2014 - 9:00AM
Business Wire
American International Group, Inc. (NYSE:AIG) today announced
that it has repriced AG Select-a-Term®, the highly customizable
term life insurance issued by American General Life Insurance
Company. Significant, competitive improvements were achieved, with
up to 10 percent premium reductions in popular durations and risk
classes, and sometimes higher reductions1, and a market-leading
position2 in 15, 20, 25 and 30 year term non-tobacco classes.
“AG Select-a-Term has always provided a well-structured
combination of flexibility and customization, with 17 term
durations from which to choose,” said Chris Ogburn, Vice President
of Product Management for AIG’s U.S. life insurance business. “AG
Select-a-Term’s newly lowered premiums, together with the product’s
flexibility, can make it a smart solution for many family and
business needs. Further, the repricing of AG Select-a-Term reflects
our ongoing commitment to our valued distribution partners; this is
yet another step we’ve taken that’s intended to help them thrive in
today’s economy.”
With extended ages and durations available, AG Select-a-Term
offers affordable coverage for policy holders until age 90. A wide
selection of available riders makes the policy further
customizable. AG Select-a-Term can be converted to AG ROP
Select-a-Term®, fixed, index and guaranteed universal life
insurance, including AG Secure Lifetime GUL® II, with some
conditions and product limitations applying.
For more information on the competitive pricing and superior
flexibility of AG Select-a-Term, visit www.aig.com/termlife.
1 Premium reductions are generally between 1%-8%.2
Market-leading position defined as Top 3 by price against leading
carriers on March 17, 2014. Comparison based on 15, 20, 25, 30 year
term duration, male and female quinquennial ages 20-75, $250,000,
$500,000 and $1,500,000 face amounts in non-tobacco underwriting
classes.
Policies issued by American General Life Insurance Company
(AGL). Issuing company AGL is responsible for financial obligations
of insurance products and is a member of American International
Group, Inc. (AIG). Guarantees are backed by the claims-paying
ability of AGL. AG Select-a-Term Policy Form Number 07007, AG
Select-a-Term Policy Form Number ICC10-07007, AG ROP Select-a-Term
Policy Form Number 10001.
AIG is the marketing name for the worldwide property-casualty,
life and retirement, and general insurance operations of American
International Group, Inc., a leading international insurance
organization serving customers in more than 130 countries. AIG
companies serve commercial, institutional, and individual customers
through one of the most extensive worldwide property-casualty
networks of any insurer. In addition, AIG companies are leading
providers of life insurance and retirement services in the United
States. All products and services are written or provided by
subsidiaries or affiliates of American International Group, Inc.
Products or services may not be available in all countries, and
coverage is subject to actual policy language. AIG common stock is
listed on the New York Stock Exchange and the Tokyo Stock
Exchange.
Additional information about AIG can be found at www.aig.com |
YouTube: www.youtube.com/aig | Twitter: @aiginsurance | LinkedIn:
www.linkedin.com/company/aig |
AIG Life and RetirementStasa Cushman,
713-831-6414stasa.cushman@aig.com
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