Term life insurance policies offer insurance protection for a specified term or period of time – typically, one, five, 10, 15, 20 or 30 years, or until a specific age (such as 65). Premiums may increase each year (annually renewable term) or remain level for a set period (level term), and the insurance is generally less expensive than permanent (cash value) life insurance.
- AG Select-a-TermSM - an alternative to the usual term periods. Select-aTerm provides coverage for 10-year or 15- through 30-year periods
- AG ROP Select-a-TermSM - same great alternative terms AND, if you outlive the policy term, get your money back when the term is up.1
At the end of the term period the policy may contain a provision permitting it to be renewed without a medical exam, although the premium rate probably will be higher. Some term life insurance policies include an option to convert to a permanent life insurance policy.
Traditional term life insurance provides a death benefit only; the policies do not offer an opportunity to build cash values. A new product concept known as "return of premium term" returns at the end of the level-premium period the amount of the cumulative premiums paid, if the policy is inforce, and in some cases the contract builds cash value. This is an alternative to traditional term life and permanent insurance products.
1 The cumulative premiums paid on the policy during the level term period (15, 20 or 30 years), not including any substandard and rider charges, will be paid to you at the end of the level term period if the policy is then in force. The premium returned does not take into account any time value of money. Beginning the sixth (6th) policy year, a portion of the cumulative premiums will be returned if you choose to surrender the policy.
Policies issued by:
American General Life Insurance Company
2727-A Allen Parkway, Houston, TX 77019
AG Select-a-Term Policy Form Number 07007
AG ROP Select-a-Term Policy Form Number 06001
70 Pine Street, New York, NY 10072
AG Select-a-Term Policy Form Number 09007N
AG ROP Select-a-Term Policy Form Number 08701N
The underwriting risks, financial obligations and support functions associated with the products issued by American General Life Insurance Company (American General Life) and The United States Life Insurance Company in the City of New York (United States Life) are the issuing insurer's responsibility. American General Life Companies, www.americangeneral.com, is the marketing name for the insurance companies and affiliates comprising the domestic life operations of American International Group, Inc., including American General Life and United States Life. United States Life is authorized to conduct insurance business in the state of New York. Policies and riders not available in all states.
