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Paul, 41, is an up-andcoming manager earning a solid living for his family of five. He and his wife Joan, a full-time homemaker, are working hard to plan for Paul’s retirement at 67, the age that he will be eligible to receive full retirement benefits from Social Security. Of course, everything hinges on Paul’s income for the next 26 years.
To help protect Paul’s income, the family needs term life insurance coverage for the next 26 years. Unfortunately, most insurance companies only offer a 20- or 30-year plan. This means that Paul would either be unprotected for six years or pay a premium for an extra four years of coverage he doesn’t need.
With AIG Select-a-Term®, Paul has the flexibility to purchase a term policy that meets his 26-year retirement horizon precisely. As a 41-year old male in the Preferred Plus underwriting class, Paul can purchase a 26-year policy at a face value amount of $1 million for an annual premium of only $1,190.1
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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