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 reductions 1, and a market-leading position 2 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.