3 Facts About American General Life Insurance

a group of hands holding a toy

When exploring life insurance options, you want to make sure that you are signing on for a policy that best suits your needs, while ensuring a safety net for your loved ones in the event of your passing. While searching for those quotes can be overwhelming, it’s good to know what insurance companies are out there to offer you the benefits that you need. Among those companies is American General, looking to provide coverage unique to the policyholder and their beneficiaries.

1. American General offers a range of life insurance options.


When shopping for a life insurance policy, you want to understand the options that are available. American General Life Insurance understands that coverage is not one-size-fits-all. American General offers up term life insurance, one of the most common and affordable forms of coverage. This gets its name from the term length on the policy, allowing you to buy a policy for as long as you need it. This extends anywhere from 10-30 years and can be renewed upon expiration, or you can simply just stop paying the premium if you move on to other coverage.

Universal life insurance is a more permanent form of coverage, with its primary benefit being the use of the policy’s cash value to pay insurance premiums. The value accrues and earns interest as you pay monthly premiums, lending the opportunity to also act as a savings account. There is also guaranteed issue whole life insurance, which falls under the category of final expense insurance, where acceptance is guaranteed. If you’re older than 45, you can’t be turned down for this coverage, and no medical exam is required to sign on.

2. American General delivers the AIG brand recognition.


When signing on for a life insurance policy, you want to feel assured that you are signing on with an insurer that is invested in you and in the long term. American General has the benefit of being a part of the gigantic AIG umbrella. American General Life Insurance Company was established in 1960, and after decades of expanding its national presence and financial services, the company was acquired by American International Group (AIG) in 2001. This prominent reputation has made many policyholders feel at ease in their coverage.

AIG’s financial strengths spill over to American General, offering more security to policyholders for their variety of life insurance options. With an A rating from A.M. Best, AIG is considered excellent under that rating system. The Better Business Bureau rates AIG as A+, and Standard & Poor’s affords them the same rating. Exploring insurance options is more than just an affordable premium. It’s about making sure the proper coverage is there, as well as that an insurance company can step up in the event of a payout.

3. American General looks to make the application process as easy as possible.


When signing on for a life insurance policy, customers can feel worried about the application process, and the eventual payout of the death benefit to their beneficiaries. However, American General takes pride in walking future policyholders through the application, starting with a medical exam to best determine the risk of signing you on for a policy. There are factors like medical history, tobacco use, and occupation that may come into effect in signing you on for whole life insurance or term life insurance, but American General takes the time to explain the impact. A policy can have an effective date in almost no time, as American General works to make the insurance application process quick and easy. They’ll walk you through the entire process, serving as your guide and advocate.