HOUSTON – February 21, 2019 – American Worldwide Group, Inc. (NYSE: AIG), whose home life insurers are leaders within the time period life insurance coverage market, introduced at this time the setting of a number of the lowest premiums in years for Choose-a-Time period®, the flagship time period product issued by American Common Life Insurance coverage Firm (AGL) and America Life Insurance coverage Firm within the Metropolis of New York (US Life). Choose-a-Time period options improved charges for insurance policies with long run durations and dying profit quantities of $250,000 and above for sure concern ages and danger courses.
“As a part of our ongoing dedication to defending people, households and companies, we’re happy to supply a variety of options for various wants and budgets,” mentioned Rod Rishel, Chief Govt Officer, Life Insurance coverage, AIG. “With Choose-a-Time period’s new fee construction, our distribution companions have the chance to supply customizable life insurance coverage at much more aggressive costs.”
AGL and US Life have sturdy positions within the $500,000 and above marketplace for time period life insurance coverage. Nationwide, almost 70 p.c of the Choose-a-Time period premium charges rank within the prime two and 85 p.c rank within the prime three. In New York, greater than 85 p.c of the premium charges rank within the prime two and 91 p.c rank within the prime three.
Choose-a-Time period insurance policies supply an progressive mixture of flexibility and attain, together with assured stage time period protection for 18 durations, together with 10-year, 15- via 30-year, and 35-year phrases, with renewable protection till age 95. Moreover:
Choose-a-Time period stays convertible to a everlasting life insurance coverage coverage till the insured attains age 70 or the level-term interval ends (whichever happens first).
The product affords prolonged conversion eligibility to the total suite of AGL and US Life everlasting life insurance coverage merchandise (excluding Survivorship Common Life insurance policies) for the primary eight years of contracts with 10-year time period durations or the primary 10 years of contracts with time period durations of 15 years and longer.
Choose-a-Time period affords a aggressive conversion credit score function that enables a portion of the time period premium to be utilized to the brand new everlasting coverage. This function is on the market underneath the identical conversion eligibility guidelines.
For extra particulars on Choose-a-Time period’s superior flexibility and nationwide aggressive pricing, plus key sources for monetary professionals, go to www.aig.com/termlife. For the New York product sources, go to www.aig.com/newyorkproducts.
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