American General Life Insurance Review

If you’re looking for an AIG (American International Group) company review, this is it. American General Life was bought by AIG back in 2001. Since they’ve been a part of AIG, they have made a lot of changes, but they are still one of the largest insurance writers in the United States.

A life insurance plan is essential for just about everyone, and not just for those who have young families to protect, but also for business owners, single individuals, and seniors who do not want to put their loved ones into financial hardship when the time comes for paying final expenses.

Many who are in good health will not typically have trouble in qualifying for a life insurance policy. Those who have certain health conditions could run into some difficulty – especially when the life insurance company’s underwriters review the results from a medical exam. This is why no exam life insurance could be a good alternative.

Unlike a fully underwritten life insurance policy that calls for a blood and urine sample, no exam policies – as their name suggests – will not require this as a part of the underwriting process. In addition, because there are no exam results to wait for, this type of life insurance policy can also typically be approved and issued very quickly – in some cases, even the same day as application. (This differs from traditional plans that could take weeks – or even months – to underwrite).

You should take a close look at the carrier you are purchasing the insurance policy form to determine if it is reputable and has a good history. 

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Who Is American General

American General Life Insurance Review They have been in the insurance arena for over 150 years.

Today, American General is a subsidiary of AIG, which is another strong and highly regarded insurer.

Known as one of the biggest insurers in the world, American General offers its products around the globe, as does AIG, which today serves over 88 million customers in more than 130 different countries. As of September 30, 2017, American International Group held more than $204 billion in total assets – and for that same year, the company took in almost $1.1 billion in earnings. As of the end of the third quarter of 2017, the company had total revenue of more than $15 billion.

American General Life Insurance Company’s parent company, AIG (American International Group), is headquartered in New York. There are various satellite offices of American General Life Insurance Company which are located throughout the United States, including an office in St. Paul, Minnesota, and one in Nashville, Tennessee.

American General Life Insurance Review

While AIG and American General Life Insurance Company suffered some temporary setbacks during the U.S. recession of 2008, but they have an excellent financial outlook now.

In fact, in the past several years, the AIG member life insurance companies together have paid out more than $40 billion in benefits and claims to policyholders.

There are several different divisions today that make up American General Life Insurance Company, including:

  • American General Assurance
  • American General Life and Accident Insurance
  • American General Life Insurance of Delaware
  • SunAmerica Annuity and Life Assurance
  • SunAmerica Life Insurance
  • Western National Life Insurance

Throughout the years, American General Life Insurance Company has earned many key awards, such as the Confirmit ACE (Achievement in Customer Excellence) award, which recognizes the outstanding customer excellence achievements of a company.

How AIG Ranks

Not only do they have a rich history, they have received  These ratings include a(n):

  • A+ (Strong) from Standard & Poor’s
  • A2 (Good) from Moody’s Investor Services
  • A(Excellent) from A.M. Best Company
  • A+ (Strong) from Fitch

They haven’t been accredited by the BBB yet, but they have been given an A- grade. The BBB is one of the most popular organizations which reviews companies and offers grades for the carriers.

No Exam Products Offered

For those applicants who want to skip the health exam, the company offers a term life option that only requires one to complete a short application for coverage.

Term life insurance is considered to be the most basic form of life insurance coverage, as it offers the cheapest way to buy life insurance.

A term life policy can offer a great way to obtain cost-effective coverage that can help loved ones with mortgage payments, payment of debt, ongoing income for living expenses, and/or future college tuition costs in case of the unexpected.

The no exam term life insurance offered through American General has several length options. And, the death benefit and the amount of the premium are guaranteed throughout the entire term of the policy.

Products Sold by American General

Aside from the no medical exam term life insurance that is offered by American General Life Insurance Company, this insurer also offers other coverage options. These include the following:

AG Select-A-Term policy

With this policy, an insured can choose a term length of 10, 15, or 30 years, as well as a varying length that ranges between 15 and 30 years, depending on their specific needs.

AG ROP Term policy

The AG ROP, or return of premium, is also term life coverage. Here, if the insured lives through the entire term of the coverage, he or she can receive their premium payments back – essentially allowing them to have received this coverage for free.

Permanent Life Insurance options through American General

AG Secure Survivor GUL ll

The AG Secure Survivor GUL ll is a universal life insurance policy. This plan offers both death benefit and cash value – and is considered to be quite flexible, as the policyholder may, within certain guidelines, alter the timing and the premium size to fit with his or her changing needs and circumstances over time.

Elite Global Plus ll

The Elite Global Plus ll is also a universal life insurance policy that has cash value and death benefit protection. This policy is an indexed policy, so the performance of the cash value is based entirely on a market index. With these plans, they have the opportunity to earn more than other plans. One important note, there is usually a limit on how much return these plans can earn.

Secure Lifetime GUL 3

The Secure Lifetime GUL 3 is also a universal life insurance policy that provides the policyholder with a great deal of flexibility in both coverage and cash value build up.

Asset Protector

The Asset Protector allows for “living benefits.” When added to the Secure Lifetime GUL 3 life insurance policy, the policyholder may be able to access a portion of the policy’s death benefit funds while he or she is still alive. This is the case if the insured has been diagnosed with a qualifying terminal illness and/or if he or she is residing in a skilled nursing home).

Elite Index ll

The Elite Index ll is another indexed universal life insurance plan that focuses more on cash value build up as versus the death benefit. There is also an Elite Survivor Index ll policy available, which covers two lives as versus just one.

Value+ IUL

Yet another indexed universal life insurance policy that is available via American General Life is the Value+ plan. This particular option is oftentimes used for those who need coverage as a part of their estate plan.

American General Life Insurance Company also offers retirement annuities. These products can offer a guaranteed income stream that will last for as long as the recipient needs it.

Buying The Best Life Insurance Through American General

Regardless if you decide to buy a plan from American General, or one of the other thousand companies, there are a few things you should know.

There are a few tips we tell all of our customers.

First of all, you need to do your research and homework first. Because life insurance is such an important part of your life (and a very long investment) you need to be sure you have the best option out there.

According to insurance professionals, a lot of the people who have plans don’t have nearly enough insurance coverage. Being underinsured will give your family some financial problems.

Buying life insurance is a huge commitment, and can be somewhat overwhelming. If you’re looking for some advice or help in determining a plan for your loved ones, we would love to assist you.


Susan Wright, CLU, ChFC, RHU, REBC, ADPA, CITRMS, CIPA has been in the insurance and financial field for over 27 years. Even with years of experience, she continues to create new resources for others. Everything from books to training material.

Susan received her MBA from St. Louis University and her BA from Michigan State University.

She has worked in several areas but excels in writing material for both finances and insurance. Her goal is to give professionals credibility and assist in streamlining the sales process.

She has written countless articles for a variety of websites.

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