What does AIG fall mean to my Life Insurance Policy?
What does AIG fall mean to my Life Insurance Policy?
I know that AIG is still liquid but there is a lot of speculation on their future. I have a 30 year life insurance policy that I just bought last year. What does this all mean to me? Is there anything that I should do?
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6 Responses
1.31.2010
AIG is starting to sell off some foreign assets. I doubt this will make too much of a difference. If you aren't comfortable with the state of the carrier, there is no harm in reshopping your life insurance. You never know, you may find the same policy cheaper. I don't know what state you live in, but I have found other carriers like Banner to be less expensive for the same 30 yr term policy. If you don't find a policy that is comparable to your current policy, stick it out for now and see who buys the book of business. Source(s): Insurance Agent
1.31.2010
IF they filed for bankruptcy protection the life insurance holders should be fine. If anything they'd spin off the profitable insurance unit to a buyer in order to raise cash. AIG doesn't sell insurance…American General does (as does their other subsidiaries)….keep that in mind. AIG just owns American General.
1.31.2010
No. But if its a term policy you could go somewhere else. That is usually a bad idea. AIG will probly be taken over by someone else and nothing will change on your policy. Stick with what you have. It's rare you find a better deal.The best deal of the day is to keep all your insurance with one company. You get the most discounts.
1.31.2010
The credit issues mainly center around their parent company. Most of their subsidiaries have plenty of assets and would get sold to other companies to raise capital should something worse happen. This includes companies like American General Life. Would I go and purchase a new policy from them right now? Probably not. Would I worry about my current policy? No. Source(s): My blog: http://gardenstatelifeinsurance.blogspot…http://money.cnn.com/2008/09/16/news/com…
1.31.2010
Not much. Assuming they are admitted to do business in your state, the policy will be transferred to another insurance company, should AIG go insolvent.
1.31.2010
dear, if you have TataAig policy then NO TENTION because Tata has 74% share in TataAig Life Ins. & also Tata Aig Life In India is No.1 in life ins. & also In great profit. so no worry.