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As the sole income provider for her family of three, Melissa, 29, wants to make sure that her children, ages 1 and 5, will still be able to attend college in the event of her premature death. At her current savings rate, Melissa expects to fully fund both children’s college educations within 17 years.
Because her children’s college educations will be fully funded within 17 years, Melissa only needs 17 years of life insurance coverage.
AIG Select-a-Term® offers incremental term periods between 15 and 30 years, so Melissa can purchase a 17-year term policy and only pay for the coverage she needs. As a 29-year old female in the Preferred Plus underwriting class, Melissa can purchase a $400,000 policy guaranteed for 17 years for only $15.58 a month.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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