John, 38, and Elizabeth, 34, both work outside the home to provide the best way of life for their family. They live in an affluent, family-friendly
neighborhood — minutes from good schools and the grandparents. They have 23 years remaining on a $500,000 mortgage loan..
These working parents would like to raise their family in their current home, even in the event of a premature death. To help protect their investment, John and Elizabeth each need 23 years of life insurance coverage, but don’t want the increased cost of a 30-year policy.
With AIG Select-a-Term®, John (Standard Plus) and Elizabeth (Preferred Nontobacco) can each purchase a $500,000 face amount policy for 23 years. Their annual premium would be $755 and $385, respectively — a combined savings of $240 per year, $5,520 total over 23 years, for the couple when compared to the cost of a 30-year plan.1
Get more information about AIG Select-a-Term and other American General Life insurance products.
The cases presented are not actual and are for illustrative purposes only.
Rates current as of January 7, 2008.
1 Premiums for other rate classes, ages and payment plans are available. Premium charges will depend on each applicant’s evidence of insurability. Premiums increase at the end of the guaranteed term if policy is renewed. Death benefit remains level and is payable in lump sum, or installments, if so elected. The insurance company may contest the policy for two years from date of policy issue for material misstatements or omissions on the application. Death benefit payable from any cause, except suicide within first two policy years. In the event of suicide in the first two years, policy is limited to return of premium paid.
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