American General Life Companies (American General), Houston, has announced AG Exam-Free Term Upgrade, a way policy holders can increase coverage without undergoing new medical exams. An innovative feature of American General’s new AG Exam-Free Term Upgrade is that it applies to coverage initially underwritten by most major term carriers, as well as policies issued by American General Life Insurance Company and The United States Life Insurance Company in the City of New York.
The initial policies do not have to originate with American General, as long as the qualifying conditions are met. These conditions include completion of a medical exam within the past five years resulting in a level premium term policy for $100,000 or more being issued. The terms of the AG Exam-Free Term Upgrade include:
- Existing coverage from most major carriers creates eligibility;
- No requirement for blood work or lab tests;
- As much as three times the original coverage, up to $500,000
Policy holders qualifying for the AG Exam-Free Term Upgrade are eligible for an American General Select-a-Term policy, with the term length determined in part based on the term of the original policy.