American International Group Inc (AIG) Reprices AG Select-a-Term Nationally; Launches in NY

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American International Group Inc (NYSE:AIG) announced that it has repriced the flagship term product, Select-a-Term, issued by its subsidiary American General Life Insurance Company. The company also relaunched Select-A-Term in New York under The United States Life Insurance Company.

Select-a-Term

AIG AG Select-a-Term offers a mix of customization and reach and guaranteed level term coverage for 17 durations, including 10-year and 15 through 30-year. The product remains convertible to the earlier of age 70 or the end of the level term period and make coverage available until age 95 for older clients.

New York

According to the company, for the New York issued product, nearly 90 percent of premium rates rank in the top three for popular duration and risk classes. Almost half the time the company ranks number one. Nationally almost 75 percent of premium rates for AG Select-a-Term rank in the top three, and almost 30 percent rank number one. These comparisons are based on 15,20,25, and 30 year term durations; male and female ages 20-75; and $250,000, $500,00 and $1.5 million face amounts in non-tobacco underwriting classes, against other leading competitors as of January 26th, 2015.

Quote from James A. Mallon

“American families and businesses need the protection of life insurance, and with new, lower rates, AG Select-a-Term offers them the opportunity to buy just what they need at a market-leading price,” said James A. Mallon, President, Life Insurance, AIG Consumer Insurance. “This product is designed to provide invaluable flexibility and help clients choose wisely, because they deserve life insurance with Optionality®.”

James Vrionis

James Vrionis knows Technology and is Based in the Palm Desert Area. Contact him at jvrionis@investcorrectly.com

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