American General Life Insurance Company has introduced the AIG Select-a-Term term life insurance policy.
Purchasers of the policies can choose a level-premium term of 10 years or 12 years, or they can choose any other period ranging from 15 years to 30 years.
Consumers can use the flexibility to create policies with 16-year or 23-year terms to link coverage to specific life events, such as the payoff of a mortgage or the completion of funding a child's college education, according to American General, Houston, a unit of American International Group Inc., New York.
Clients who are ages 55 to 70 may be able to buy coverage that will last until they are in their 80s, American General says.
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
