AIG Select-a-Term: NEW, IMPROVED RATES!

05-04-2020

Something to brighten your day... New Select-a-Term rates! As of May 4, 2020 all bands of Select-a-Term just got even more competitive nationwide.

  • In target cells ($250 000 - $500,000): Nationwide, nearly 65% of the premium rates rank in the top 3 and over 31% rank in the top 2*
  •  In the higher band market ($500,000 and above):  Nationwide, nearly 81% of the premium rates rank in the top 3 and over 45% of the premium rates rank in the top 2*

As of May 4, 2020 the new Select-a-Term rates are available in all states except NY, where the currently offered rates will remain available and unchanged.

Transition Rules

  • Applications received in the Home Office before May 4, 2020 will automatically receive the old product rates unless the new product is specifically requested.
  • Any requests to get the new product must be made prior to the policy being issued or conditionally issued.  
  • Applications received in the Home Office starting May 4, 2020 through May 31, 2020 will manually be given the product with the lowest rates prior to policy issue.
  • Applications received in the Home Office June 1, 2020 and later will be 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

  • Applications received in the Home Office before May 4, 2020 will automatically receive the old product rates unless the new product is specifically requested.
  • Any requests to get the new product must be made prior to the policy being issued or conditionally issued.
  • Applications received in the Home Office starting May 4, 2020 through May 31, 2020 will manually be given the product with the lowest rates prior to policy issue.
  • Applications received in the Home Office June 1, 2020 and later will be 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.

 

*Comparison based on 15-, 20-, 25-, and 30-year term durations, male and female quinquennial ages 20-75, $250,000, $500,000 and $1,000,000 face amounts in non-tobacco underwriting classes, against 16 leading competitors. 960 cells in the Target Area, and 640 cells for the Larger Cases. Sampled on April 16, 2020.