Category: Carrier Updates

Effective September 17, 2018, American General’s Select-a-Term proves again it is no “one-hit wonder” with lower rates in certain issue ages and risk classes.  The rate changes will include increases and decreases in certain cells.  In addition, AIG has lowered the monthly modal factor from 8.65% to 8.55%, improving Select-a-Term’s competitive position on a monthly basis.* Hit a high note with the Select-a-Term difference: Pricing All states except New York: Nearly 80% of the premium rates rank in the top two, and 86% rank in the top three.** In New York, more than 87% of the premium rates rank in the top two, and 90% rank in the top three.** 18 durations, including 10-year and 15 through 30 years and a 35-year term, with renewable coverage until age 95 for older clients. Convertible to the earlier of age 70 or the end of the level term period.   *No change to the New York product modal factors **Comparison based on 15, 20, 25, 30-year term durations, male and female quinquennial ages 20-75, $500K and $1.5M face amounts in non-tobacco underwriting classes (640 cells) against 15 leading competitors (11 in New York) on August 10,...