How about AIG Insurance Company (American General Life Insurance Company)? AIG company credit rating and product insurance introduction

AIG, The full name is American International Group, translated into ChineseAmerican International Group Or AIU Insurance Group, Also known by many peopleAmerican International Assurance.

In the Chinese community, I can see many AIG introductions in Chinese, and many people ask whether AIG isAmerican AIA?in fact, AIG It is a large-scale global financial and insurance group that extensively conducts insurance and asset management all over the world, and ranks among the Fortune 100 large-scale enterprises. AIG's business scope covers a wide range of fields and has many subsidiaries in various countries around the world. AIG's life insurance business in the United States is just one aspect of the AIG Group.

As consumers, we are exposed to in the United States (except New York State)AIGLife insurance is covered by  AIG Group's life insurance business subsidiary American General Life insurance company to underwrite.In the New York area, AIG Life Insurance is underwritten by the New York subsidiary US Life.

After 2023, AIG Financial Group will independently split several life insurance companies operating life insurance and annuity retirement businesses, and reorganize and list independently under the brand name CoreBridge: CRBG (NYSE).

American Life Insurance GuideIn this article, we will introduce and evaluate the subsidiaries that actually operate CoreBridge life insurance business: American General Life Insurance Company, abbreviated AGL.

that AIG Subordinate American General Is a life insurance company good?What is the financial strength?How long has the company's life insurance business history been?What kinds of insurance types and products are there, and which types of policyholders are suitable?What are the advantages and characteristics?This article will conduct a concise evaluation.Just likeinsurGuru©️Life Insurance AcademyRecommended practice inBefore applying for insurance, Understand and compare the characteristics and products of different insurance companies, and help you find the most suitable products for your family and business needs.

AIG American General Life Insurance Evaluation and Product Introduction

 AIG It started business in 1919, and it has a history of 100 years.

AIG is a company that has a lot to do with China. If you go to Google to check its history, you will find that it was established in China at the time, not in the United States.After two years,AIG Of life insurance business has come to the United States.

Since then, AIG has embarked on the track of an international company spanning North America, Asia, and Europe.

By 1984, AIG was officially listed on the New York Stock Exchange under the ticker symbol "AIG".

After 2000 years,AIG Acquisition American General After the life insurance company, it ushered in explosive business growth. AIG has also entered the Indian market.

Regarding AIG, the most widely known event was during the 2008 financial crisis.AIG The investment insurance department of Lehman Brothers has fallen into a crisis of Lehman Brothers debt and CDS (Credit Default Swap).inAIG When the contract was about to default, the US government took aid actions, and the aid reserve reached 850 billion U.S. dollars.In exchange, the Fed took over AIG The company owns 79.9% of the company's equity and hired Edward Liddy with an annual salary of $1 to solve AIG's problems.This is in the history of American finance,For the first time, there was a case of financial insurance companies directly held by the government, and it also triggered a discussion about "which insurance companies are too big to fail".

In 2010, AIG spun off its business in Hong Kong, which became today's AIA,AIA Hong Kong.

By 2012, AIG had reorganized its management to reduce expenses, and its profitability and asset scale continued to expand.In December of the same year, AIG formally redeemed all its shares from the U.S. Department of the Treasury.Throughout the entire financial rescue process,AIG helped the U.S. government and all taxpayers make a profit of $2270 billion.

In 2017, the Federal Government Regulatory Commission concluded its AIG Supervision.same year,AIG New CEO Brian Duperreault took over, shifting AIG's focus to the company's traditional insurance business, focusing on property and casualty insurance, and restructuring some of its core insurance divisions.At the beginning of January 2020, the new CEO revolutionized AIG/American General's life insurance distribution channel model, bringing a new look and opportunity and challenges.

March 2022, AIG Life Insurance and Retirement Business SegmentFormally split, IPO under the new brand name "Corebridge".

Has the restructured AIG brought real benefits to policyholders?We may need more time to reveal the answer.

Financial rating of AIG American General Life Insurance Company

AIG through subsidiaries American General Life Insurance Provide multiple types of life insurance products, including:

1. Term life insurance
2. Universal Insurance & Index Universal Insurance
3. Investment universal insurance
4. Retirement annuity insurance

Term life insurance products

AIG through subsidiaries American General  Issue term life insurance products with different names.These term life insurance products are Select-A-Term®️ and Qol Flex Term®️.

AIG'sTerm life insurance productsLine and choose to attachNo extra costOfMajor illness paymentadditional terms,Chronic illness benefitsAdditional terms andEnd-stage illness paymentAdditional clauses and other comprehensiveWelfare.

Another feature of AIG term life insurance products is that its guarantee period is any length of time between 10 to 35 years.For policyholders to choose, This is very different from other insurance companies-many insurance companies only have 10, 15, 20, and 30 years of choice. There is no such choice as 17 or 27 years.Which makesAmerican General Of term life insurance products are very competitive at this point.

AIGThe term life insurance policy can also be converted to whole life insurance during the validity period of the policy.And some other insurance companies usually require the policy to decide whether to switch to whole life insurance products within 10 years.

AIG Universal Insurance & Index Universal Insurance Products

AIG through subsidiaries American General  A variety of UL and its derivatives with their own characteristics and advantages have been sold to meet the different needs of policyholders.

The products provided by American General are as follows:

• Value + IUL
• Value+ Protector IUL  (Insurance product manuals and user reviews）
• QoL Guarantee Plus II (Chinese manuals and user reviews of insurance products）
• Max Accumulator+ II IUL / QoL Max Accumulator+ II IUL (Chinese manuals and user reviews of insurance products）
• Secure Lifetime GUL3

Secure Lifetime GUL 3 and QoL Guarantee Plus II GUL

American General Secure Lifetime GUL 3 is a relatively simple and clear UL policy.As a GUL product, its emphasis is on providing guaranteed and fixed pure death compensation.andQoL Guarantee Plus II GUL It is more like an "upgraded" GUL that meets the needs of modern people. On the basis of guaranteed death claims, it also provides "pre-mortem benefits" claims with a maximum of $200 million during life.

Value+IUL/ Value + Protector IUL (Consumer Product Brochure Download and Product Evaluation）

For policyholders who wish to use IUL to achieve a certain amount of death compensation, AIG's Value+ IUL is a brief solution choice.

This product focuses on death compensation and protection, so the growth of the cash value of the policy is not the focus.

Value+ Protector IUL is more like a Combo of GUL and IUL. It is suitable for policyholders who pursue the guarantee of Secure Lifetime GUL 3, but want to have a certain advantage in IUL cash value accumulation.Relatively speaking, the scheme design of this insurance policy product is more complicated. Please seek the help of professional insurance policy designers.

QoL Max Accumulator+ IUL (Product introduction manual and user evaluation）

QoL Max Accumulator+ IUL Yes AIG / American General A product mainly promoted for the US market, the main feature of the community is "Lifetime Welfare Insurance" and "Cash Value Accumulation".

One of the core competencies of this product is:Provide compensation for major illnesses,There are three additional clauses for chronic disease benefits and terminal illness benefits.When an insured person needs to settle a claim, the insurance company will take out money in advance from the death benefit of the insurance policy for compensation according to the type and severity of the disease.The insured only needs to provide a doctor’s diagnosis report to make claims.

In addition, on the basis of these three compensation benefits, AIG also provides an additional charge called Accelerated Access Solution (AAS) for policyholders to choose from.Increasing claims for “chronic diseases”.

The additional AAS clauses of this product require additional payment, which is for "long-term care" or "Chronic disease"A powerful increase in attached insurance requires additional underwriting.

For another core function: "Cash value accumulation", Max Accumulator+ IUL provides three index interest accounts based on the S&P 3®️ index as the income basis and one index interest account using ML Strategic Balanced Index®️, and After the policy has been executed for 500 years, additional Bonus will be provided.

The Rider of this product includes:Advance death compensation(ABR, including major diseases, chronic diseases and terminal diseases), life-long guaranteed income, accidental death compensation, specific premium waivers, etc.

AIG investment typeUniversal Insurance Products

AIG also provides an investment universal insurance policy product: AG Platinum Choice VUL 2 for policyholders who dare to take market risks in exchange for potential market gains.

Because it is closely linked to the market, it is necessary to communicate with a registered securities sales representative before applying.

AIG retirement annuity insurance

AIG's annuity insurance products provide policyholders with a guaranteed lifetime income solution.Annual of the American Life Insurance GuideAnnuity Insurance Ranking ReportIt is pointed out that AIG's index retirement annuity ranks No. 1 in the U.S. market share.

insurGuru©️ Final Comments on AIG/CoreBridge/American General

As an established international financial and insurance company with a history of more than 100 years, AIG has a worldwide reputation.Even today, AIG / American General is still one of the top financial and insurance companies in the United States.

The price of AIG / CoreBridge / American General's term life insurance products is very competitive, and it is divided into two product lines, one product line improves simple death claims, while the other product line can provide additional critical illness, chronic disease, terminal Disease claims.

For whole-life life insurance policy products, American General provides universal life insurance and index-type life insurance products for policyholders to choose from, and its QoL product line is also one of the few that offers no additional fees.Comprehensive life benefit guaranteeOne of the life insurance companies with a contract (critical illness, chronic illness, terminal illness).

In terms of market share,AIG Individual Retail Retirement Annuity BusinessIn the past few years, it has ranked among the top three in terms of market share in the United States.In addition, some of AIG's products provide Chinese service instructions, which are friendly to Chinese policyholders.

Backed by AIG's once strong financial strength, the new brand name CoreBridge provides competitive prices and a rich product line.A new brand name with a new look, behind which remains the sameAmerican General Life Insurance Company (AGL), may be worth your consideration.

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