AIG

[moonlightandmargaritas]

There won't be any disruptions, and nobody's gonna have to worry about the state guarantee fund either...

AIG will be forced sell their insurance companies - they are some of the most profitable holdings that they have.

Somebody stronger will step in, and it'll be business as usual.

 

[bill3173]

There won't be any disruptions, and nobody's gonna have to worry about the state guarantee fund either...

AIG will be forced sell their insurance companies - they are some of the most profitable holdings that they have.

Somebody stronger will step in, and it'll be business as usual.

Of course you are right, not questioning that, zero chance of policies going to the state.

I'm not encouraging anyone to switch carriers, but offer to rewrite the policy if they choose, but don't encourage in the least. AIG is virtually unbeatable for large face amounts, rated cases, and ROP Term.

I don't like replacing life policies, unless the policy is fairly new and the price is out of whack. Had too many claims, barely out of the 2 year period. Just curious how some others are handling it.

 

[Mark]

AIG was all over the news and it all looked very bad to clients.

 

[JMO Fan]

Two for Typos

Is there an AIG office in your home town because they need it tomorrow and make sure you put enough zeros after the 75.Thanks for doing this you could be resposible for saving our financial markets.

We appreciate your willingness, but both your posts are scary:
"it's" for "its" and "resposible" for "responsible

Now I'm really nervous. Be sure you spell AIG correctly on the check.

 

[JHoward]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

As an employee of one of AIG's competitors, I must admit that I'm not sorry to see AIG failing - they have been a thorn in my side for years. However, I do feel sorry for the employees of AIG who will get hurt by this. I know some people who work for AIG and they are good people. I hope it works out well for them.

 

[somarco]

Give your client bids on comparable plans and let them decide. If it were me, I wouldn't switch carriers.

Pure term plans probably won't be affected.

If the life business is sold to another carrier, it is possible the ROP portion of the premium could be affected. It depends on how the policy language addresses the ROP feature. Is it a contractual guarantee or like dividends or interest credits? In other words, the ROP mileage may vary . . .

 

[Mr. Bill]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

Let's see, which will happen first? Will the stock go to ZERO or will they go BK?

Oh, it's just funny - think of all that deferred compensation of those Royal Alliance brokers (along with everyone else). Completely trashed! Oh, and the stock options as well!

 

[somarco]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

all that deferred compensation

There is a local guy, crook if you will, who retired from Am Gen after 20+ years. He became a GA for OMFN pushing their mortgage protection plans and then later combining flex mortgages with UL.

I hope he is soiling his drawers over this.

 

[Mr. Bill]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

Yeah, we'd all better run on over to Costco because I think there will be a serious toilet paper shortage!

 

[moonlightandmargaritas]

Re: AIG looks like it heading for BK if they can't raise 75 Billion

There is a local guy, crook if you will, who retired from Am Gen after 20+ years. He became a GA for OMFN pushing their mortgage protection plans and then later combining flex mortgages with UL.

I hope he is soiling his drawers over this.

Bob, quit "sugar-coating" it - give it to us str8 will ya?