I have an individual who is 4 years in on a ROP TERM and wants to know what his conversion options are to a permanent product. I spoke with AIG and was informed that his only option is the ELITE transition UL. My concern is that the product description states that it is used after the 5th year for term conversions only. I tried calling AIG again but on hold forever and no help from upline. Anyways, if anyone has any knowledge or input on this subject, it would be truly appreciated. Thank you.
Term Conversion Options AIG
- Thread starter Mocha321
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- 15,041
If it is the product I think it is, it truly blows. I remember seeing a UL from American General a couple of years ago that was for conversions only. The COI and fees were sky high and the interest was anemic.
If he is at all insurable, re-write him. Depending on the objective there are numerous quality GULs or CV focused UL products out there.
If he is at all insurable, re-write him. Depending on the objective there are numerous quality GULs or CV focused UL products out there.
- 26,794
First, find a better upline. Companies like AIG and Genworth have a hissy fit when we call them direct. I do it anyway.
Your best bet if to call AIG and be specific about the current plan and what they can convert to. Best to order an illustration from them. customer service may not really know the correct answer pertaining to that particular plan. As to talk to someone in policy change.
Lee
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Edit: What Vol said.
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jwk1257
Expert
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I have a client that has AIG term, when I called them and just asked for an illustration, I had to detail who it was for, policy number, etc.....Then found out Foresters has a Non-med ul, that is cheaper than the one you have to convert AIG to.....
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