AIG Life InsuranceAIG life insurance offers a traditional term life and whole life insurance policy. But their hybrid, combination, and cancer life insurance polices set them apart from the competition.
Life Insurance Policy OptionsTerm life insurance is the cheapest life insurance policy. This type of insurance offers a death benefit or other types of financial protection for a specified amount of time. AIG term life offers protection for a 1, 5, 10, 15, or 20-30 year period.Whole life insurance is more expensive. You are covered for your entire life and your policy also includes an investment option or some sort of cash surrender value. It actually works as an investment as well as a risk management vehicle. While many people would like this investment option not everybody can afford a whole life insurance policy. AIG insurance has helped accommodate these types of people by offering hybrid life insurance policies. AIG Life Insurance Hybrid PoliciesThey offer a variable life insurance and universal life insurance policy that combines many of the low cost term life insurance characteristics with an investment option.The variable life insurance policy offers a death benefit payment but also allows policy holders the option to invest a portion of their premiums. The investment options are flexible by allowing you to select either a savings account or a cash value that can be invested in stocks, bonds, and money market mutual funds. The universal life insurance policy closely resembles a whole life insurance policy. However unlike a whole life insurance policy you can choose your policy term and payout options. By shortening your policy term and reducing the amount of your death benefit you will have a lower monthly life insurance premium than a traditional whole life policy. A portion of your monthly premium is also allocated towards an investment with the universal life insurance plan. Cancer Life InsuranceThis is one of the few life insurance companies that have a life insurance plan designed to manage the risk of cancer. Great plan if cancer is your primary concern. By only managing the risk of cancer your monthly life insurance premium will be much cheaper than a standard term life insurance or whole life insurance planAlthough your actual cancer life insurance coverage can vary depending on your selection preferences the basic coverage typically includes hospital confinement, radiation and chemotherapy treatment, intensive car unit confinement, ambulance rides, surgery, a second opinion, and disability income. This is a great life insurance option if you are trying to manage the risk of costly cancer treatment. AIG life insurance is a good choice if you are looking for an investment option but can't afford to pay the high rates associated with a traditional whole life insurance policy. Additionally, their cancer life insurance policy offers cheaper rates than traditional life insurance polices if your primary concern is managing the cost of cancer treatment. However, if you are interested in a low cost term life insurance or whole life insurance policy then you may want to consider using our life insurance company review to get information on other quality life insurance companies. There are other life insurance companies that may offer you cheaper life insurance rates on traditional life insurance polices. Also feel free to visit the official AIG Life Insurance website for additional information. |