I'm Ty Stewart, founder of SimpleLifeInsure.com.  I'm an independent agent who works with clients nationwide to secure affordable life insurance and make the process simple and easy.  This article draws upon my years of experience working with clients, carriers, and underwriters.  My team and I focus solely on life insurance, and we have put over 9,000 policies in force.  Let us know if we can help.  There is never any cost or pressure when using our services.

AIG (American General) Guaranteed Universal Life Insurance Review

Written by Ty Stewart - Last Updated December 17, 2018

AIG is currently ranking #1 on our list of best guaranteed universal life insurance companies. See the full guide here.


Quick Summary: AIG has one of the top guaranteed universal life insurance policies on the market right now (2019). American General is a trusted name, on a strong financial footing. The rates are competitive, the underwriting is fair, and you get the option to receive all your premiums back in the future if needs change. Definitely one of our top products for GUL clients.


About the Company - American General

AIG (American General) life insurance company logo

The American General life insurance company was founded in 1919 and does business both internationally, and at home in the United States. They are a trusted name offering a wide range of both life insurance other financial products.

Despite massive growth and profit, AIG found itself among other large companies who needed a government bailout in 2008 when the sub-prime mortgage crisis led to big investment losses related to collateralrized debt obligations.

AIG was able to pay back their $85 billion loan to the federal government and is considered to be in excellent financial shape today. A.M. Best gives American General an A+ rating and they currently have over $500 billion in assets under management.

What is Guaranteed Universal Life Insurance? (expand to learn more)

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About the AIG Secure Lifetime GUL 3 Policy

Product Name

Secure Lifetime GUL 3

Death Benefit

$100,000 to $10,000,000+

ISSUE AGE

18 to 80

Coverage Length

To age 90, 95, 100, 105, 110, or 121

AIG Underwriting Secrets

Overall, American General has good and fair underwriting guidelines. When choosing the carrier for your GUL policy, it's important to know the strengths and weaknesses for certain health issues as these can really affect the rate you pay.

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The secret to finding the cheapest life insurance rates is applying at the company that will view you most favorably. Just going with the one that shows the lowest rates can be a BAD idea and end up costing you more money.


AIG underwriting is competitive and lenient in the following areas:

  • Mild anxiety or depression can still qualify for Preferred rates
  • Occasional cigar smokers (1 per week) will still be considered for non-smoker rates. Must test negative for cotinine, the by-product of nicotine
  • Typed 2 diabetics that have A1C levels under control
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    Private pilots
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    People doing extensive foreign travel, up to 8 weeks

American General Life Insurance company is NOT so good if you are dealing with any of these impairments:

  • Recent DUI or DWI
  • Uncontrolled diabetes
  • Recent bankruptcy
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    Gastric bypass in the last 6 months
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    Smoke cigarettes regularly

Cost - Sample Rates

Sample Guaranteed Universal Life Insurance quotes - AIG

45-year-old male at Preferred health class - pricing listed is per month

Death Benefit

to Age 90

to Age 100

to Age 121

$250,000

$174

$176

$187

$500,000

$335

$338

$360

$1,000,000

$642

$648

$694

55-year-old female at Preferred health class - pricing listed is per month

Death Benefit

to Age 90

to Age 100

to Age 121

$250,000

$231

$232

$258

$500,000

$441

$443

$495

$1,000,000

$838

$843

$949

Our custom quote tool on this page displays only guaranteed universal quotes so you can cut through the clutter. Please note that some carriers do not allow us to display their rates online. We will discuss if there are other options that might be a better fit.

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Pros

Competitively priced

Return of premium option included at no cost

Company is considered extremely strong financially

Cons

Not a good fit for certain health and lifestyle conditions

Extras and Options

American General has some unique benefits included in this policy that offer really nice value to policy-holders.

Automatically Included at No Extra Cost

Return of Premium - If your needs change in future and you no longer need the life insurance coverage (or just need extra cash), you may surrender the policy in year 20 and receive 50% of your premiums back.

In year 25, you have the same option to turn in the coverage but will receive 100% your paid premiums. There is a maximum of 40% of the death benefit but this doesn't apply to most people.

Many insurance companies charge extra for this ROP rider, whether you end up using it or not. AIG gives it to everyone at no cost.

Option to Decrease Death Benefit - Later in life you may decide you don't need as high of a death benefit. AIG allows you to reduce the death benefit and your premiums payment will be lowered as well.

Additional Options - At a Cost

Customize your policy further by adding riders that allow you to take benefits while still living. These riders DO increase your monthly premiums.

Accelerated Access Solution - If you are diagnosed with a chronic illness, this rider allows you to take a portion of the death benefit to help with costs, while still living. The death benefit will be reduced proportionately.

Lifestyle Income Solution - Starting at age 85, use the death benefit as a supplemental income stream. The funds may be used for any purpose. The Remaining death benefit will be reduced proportionately.

How To Make Sure You Choose the Right Guaranteed Universal Life Insurance Policy

The best advice I can give is to always work with an independent agent. If you call a company direct, they'll only push their products on you, and you save nothing. Rates are fixed by your state laws.

Life insurance is the ONLY thing we do. We know the ins and out of 60+ companies and can find you the lowest rates. Every. Single. Time.

To get started, fill out a quote request and we'll be in touch soon to help.

independent life insurance agents helping to secure affordable life insurance coverage

No pressure or cost to use our help.

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About Ty Stewart
Ty Stewart is the founder of SimpleLifeInsure. He is an independent life insurance agent that works for his clients nationwide to secure affordable coverage while making the process simple. There is never any cost to use his services.

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