AIG Guaranteed Issue Whole Life Insurance

AIG Life & Retirement is now Corebridge Financial. This milestone does not create any changes in the products, policies or contracts that you, or those you serve, have with us. Our issuing life insurance companies will remain the same—American General Life Insurance Company, The United States Life Insurance Company in the City of New York, and The Variable Annuity Life Insurance Company (VALIC). Please know that you may see—at least for a time—both the Corebridge and AIG brands on our materials and websites.

Terri N. Fiedler,
President of Financial Distributors,
Corebridge Financial

If you are between the ages of 50 & 85, regardless of health, you will not be turned down for this life insurance policy.

PRODUCT HIGHLIGHTS

• No medical exam, labs, or health questions
• Guaranteed Issue-can not be turned down for health reasons
• Face (Coverage) Amounts: $5,000 – $25,000
• Ages 50-85
• Fixed Premiums – Premium cost is level and is guaranteed not to increase during the policy’s life
• Quick processing – most cases 15 minutes or less from quote to policy
• Multiple payment options (ACH, social security debit card, and credit card) for initial and recurring payments
• Ability to set delayed billing and specify date

SAMPLE PREMIUMS

AIG GUARANTEED ISSUE WHOLE LIFE INSURANCE:
Sample Monthly Premiums for $10,000

AIG GUARANTEED ISSUE WHOLE LIFE INSURANCE:
Sample Monthly Premiums for $15,000

AIG GUARANTEED ISSUE WHOLE LIFE INSURANCE:
Sample Monthly Premiums for $20,000

AIG GUARANTEED ISSUE WHOLE LIFE INSURANCE:
Sample Monthly Premiums for $25,000

PRODUCT SPECIFICATIONS

•  Insured must be Owner
•  Payor can be different from Insured
•  Social Security number will be required
•  Only one policy per Owner/Insured in a twelve-month period
•  Insured can get no more than $25k total in GIWL insurance from American General Life Insurance
•  Free look period: 30 days

CHRONIC ILLNESS – ACCELERATION BENEFIT

•  Returns 100% of premiums paid, up to 50% of Face Amount
•  No waiting period
• One-time lump sum payment when the insured becomes chronically ill (i.e. Cannot perform 2 out of 6 “Activitives of Daily Living”). Activities of Daily Living are defined as follows:
  • Bathing – washing oneself by sponge bath, or in either a tub or shower, including the task of getting into or out of the tub or shower;
  • Continence – the ability to maintain control of bowel and bladder functions; or, when unable to maintain control of bowel or bladder functions, the ability to perform the associated personal hygiene (including caring for catheter or colostomy bag);
  • Dressing – putting on and taking off all items of clothing and any necessary braces, fasteners or artificial limbs;
  • Eating – feeding oneself by getting food into the body from a receptacle (such as a plate, cup or table), or by feeding tube, or intravenously;
  • Toileting – getting to and from the toilet, getting on and off the toilet and performing associated personal hygiene;
  • Transferring – moving into or out of a bed, chair, or wheelchair.
  • This benefit will also trigger if the insured is requiring substantial supervision to protect the insured from threats to health and safety due to severe cognitive impairment. There is a one time $100 administrative fee at the time of claim that will apply.

TERMINAL ILLNESS – BENEFIT

•  50% of Death Benefit within 24 month life expectancy or less

EXCLUSIONS & LIMITATIONS

• Graded Death Benefit – Years 1-2: 110% of premiums paid.  Years 3+: Full Face Amount – If death occurs during the first two policy years and is not an accidental death, the benefit paid will be 110% of premiums paid to date.  In the event of death after two years, the graded death benefit no longer applies and full death benefit is paid.
• All riders are not available in all states: Chronic Illness and Terminal Illness ABRs not available in CA; Chronic Illness ABR not available in DC
• This product not available to foreign nationals
• No benefit for accidental death is payable if the Insured’s death is caused or contributed to by: disease or infirmity of mind or body, or medical or surgical treatment for such disease or infirmity; an infection not occurring as a direct result or consequence of an accidental bodily injury; any attempt at suicide, or intentionally self-inflicted injury, while sane or insane; travel in an aircraft or device used for testing or experimental purposes, used by or for military authority or used for travel beyond the earth’s atmosphere; active participation in a riot or insurrection; committing or attempting to commit a felony; intoxication as defined by the jurisdiction where the accidental injury occurred; riding or driving an air, land or water vehicle in a race, speed or endurance contest; rock or mountain climbing; bungee jumping; or aeronautics (hang-gliding, skydiving, parachuting, ultralight, soaring, ballooning and parasailing). No benefit for accidental death is payable if the Insured’s death is caused or materially contributed to by voluntary intake or use by any means of (a) any drug unless prescribed or administered by a physician and taken in accordance with the physician’s instructions, or (b) poison, gas or fumes, unless a direct result of an occupational accident; or participation in an illegal occupation or activity; or if death occurs while the Insured is incarcerated.

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Frequently Asked Questions About Life Insurance

The Bottom Line?

Let’s discuss your interest in Guaranteed Issue Whole Life Insurance.

We can help you determine whether or not it is the best fit for you, based on your goals and your individual circumstances.