AIG "AGLA" Universal Life? Any good?
- Thread starter natu100
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I think you will find most life products have an ABR rider. I'm not a big fan of AIG simply because the company is performing lousy. I'm not really familiar with their products overall though.
I really like the AIG universal policies. I know most life policies have an ABR like terminal illness, but the AIG policies also have a critical illness rider with like 9 triggers and a chronic illness rider with the loss of 2 ADL. The first one I sold was to a good buddy of mine who was having a kid. We set it up to run like a term, for like 25 years gauranteed and like 50 at current rates. He is 29 and he got 235,000 for under 50 dollars. Didn't even have to do a paramed for a standard rating under 250K, just a mouth swab. Pretty quick turnaround.
The price was just about right in line with everyone else and he got the 3 ABR's to boot. He works a pretty high risk job as a diver, has a bad back, so if he ever gets seriously hurt and loses 2 ADL's, he could accelerate a portion of his death benefit to cover bills. In no way does it replace a good DI policy, but with his back and occupation, right now he can't afford a good policy so he has the life to atleast give him something.
Now the payout on the acceleration is probably no where near as high as the reduction in benefit, but when you need cash in a crisis and don't have any savings, the policy will really come in handy.
I like it. I know AIG might be losing money right now, but they have a big mess to clean up. They are a huge company and like a lot of the financials out there, they made some bad investment decisions along with a few other bad decisions. They will be fine though and in no way do I think they are in trouble.
The price was just about right in line with everyone else and he got the 3 ABR's to boot. He works a pretty high risk job as a diver, has a bad back, so if he ever gets seriously hurt and loses 2 ADL's, he could accelerate a portion of his death benefit to cover bills. In no way does it replace a good DI policy, but with his back and occupation, right now he can't afford a good policy so he has the life to atleast give him something.
Now the payout on the acceleration is probably no where near as high as the reduction in benefit, but when you need cash in a crisis and don't have any savings, the policy will really come in handy.
I like it. I know AIG might be losing money right now, but they have a big mess to clean up. They are a huge company and like a lot of the financials out there, they made some bad investment decisions along with a few other bad decisions. They will be fine though and in no way do I think they are in trouble.
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Personally, I like the AGLA FlexPro and FlexPro Plus products. Excellent UL products. I know some heavy-hitters and that is all they sell, B2B. I don't do that kind of selling, but they do and they are successful.
termchoice
New Member
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spam
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I am not too familiar with AIG products, but do know that I don't have much of a fondness for their P&C side
However, I really want to be armed with the very best UL/EIUL products, and I know AIG has a few "hitters." How would you compare the AIG UL products to the Aviva/Indylife and ING ULs, as far as :
1) Low fees
2) High interest rates for cash accumulation
3) Guarantees (NLG)
4) Riders that can help a client in need (like AB)
5) Flexibility
Everyone keeps mentioning AIG in reference to the Quality of Life Insurance line of products. This is not a line sold by AIG it is a line sold by American General Life and Accident (Nashville), AIG is merely a holding company collecting dividens from AGLA. The product was developed by the CEO of AGLA Jim Mallon. Most companies do offer ABR on Terminal Illness, but AGLA is the only company offering ABR's on Critical Illness, Chronic Illness, and Terminal Illness. As mentioned this is a good blanket of protection to have incase you did not want to dip into savings or had no savings in the event of a serious medical condition.
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Bottom Line. No matter what the truth is or how good the product is. No client is buying AIG right now. Damage is done. Everyone watched the news. It does not matter how good the product really is. I've talked to a lot of AIG agents. All of their policies are falling off the books. Clients are running from the AIG agents.
yoya
New Member
Most people don't make the connection and can't understand how it's not an issue
