AIG: Make a Splash with Increased Commission and NEW Select-a-Term Rates!

05-23-2022

AIG has increased the street level commission on the 10 Year Select-a-Term! Commissionable writing agents who submit 10-year Select-a-Term applications signed on May 23, 2022, or after will receive an additional 10% commission.

Also effective May 23, 2022 there will be premium rate changes which will consist of a mix of increases, decreases with some cells left unchanged in all states except New York, where rates will remain the same.

Here’s how strong AIG is in their target cells ($250,000* and up):

• Select-a-Term ranks in the Top 2 in an exceptional 60% of the cells annually and two-thirds on a monthly basis.
• Well over half of the cells have the lowest-priced monthly rates of any of their term competitors.
• It also ranks in the Top 3 in 73% of the cells with annual rates and over 77% with monthly.

Select-a-Term is even stronger for larger face amounts ($500,000* and up):

• It is the most inexpensive in half of those cells annually and in the Top 3 for 80%, while the monthly rates take the number one spot nearly 70% of the time.
• And it continues to be extremely competitive for smoking cases, and offers some of the lowest rates ever, especially for durations of 10- to 30-years.

Here is where Select-a-Term is especially refreshing:

• Face amounts $250K to $500K
• $500K to $1M for the 10-year duration
• Face amounts of $1M+ for the 15-year duration
• Standard Non Tobacco rates for the 20-year duration with Face amounts $500K+

Transition Rules

• New product rates will be available effective May 23, 2022.
• Applications received in the Home Office prior to June 20, 2022, will manually be given the product with the lowest rates prior to policy issue.
  • This does NOT apply to previously issued or conditionally issued policies.
• Applications received in the Home Office June 20, 2022, and later will automatically be given the new product rates.
• Reissue requests to new plan will NOT be honored.
• New applications submitted to replace existing inforce coverage with the new rates will not be honored within 90 days of the existing coverage going inforce.

Applications received via AG Quick Ticket

• New product rates will be available effective May 23, 2022.
• Applications received in the Home Office prior to June 20, 2022, will manually be given the product with the lowest rates prior to policy issue.
  • This does NOT apply to previously issued or conditionally issued policies.
• Applications received in the Home Office June 20, 2022, and later will automatically be given the new product rates.
• Reissue requests to new plan will NOT be honored.
• New applications submitted to replace existing inforce coverage with the new rates will not be honored within 90 days of the existing coverage going inforce.

Please give us a call at 1-800-792-6795 if you have any questions about the rate change.