The Republican lawsuit targets reinsurance that helps insurance companies provide universal coverage without accounting for pre-existing conditions.
HOUSTON, March 17, 2014 — American International Group, Inc. (NYSE: AIG) today announcedthat 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 , and a market-leading position 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, visitwww.aig.com/termlife.