A recent study shows that ownership of individual life insurance has hit a 50-year low. More than half of U.S. households – 56 percent, have no individual life insurance. And, when you look at households with children under age 18, 11 million have no coverage at all. "In today's challenging economic times, a more affordable solution is needed in order for people to protect their families. At AGLA, we feel a combination of life insurance products with AGLA Advantage discounts can solve our clients' needs in a smart, affordable way," says Jim Mallon, president and CEO of American General Life Companies.
While insurers have bundled different types of insurance before, AGLA Advantage allows people to buy universal life and term life insurance policies that effectively combine different types of coverage. This bundling of coverage can provide a financial safeguard for families that need to pay off a mortgage, send the kids to college or cover other expenses in the event income is lost. Instead of needing to juggle different policies for those needs, families can choose AGLA Advantage to simplify their planning and lower their costs.
Bringing permanent and term life policies together with Quality of Life…Insurance® and AGLA Advantage can provide families with living benefits and the flexibility to achieve their financial goals while operating under a realistic budget. People who want to make certain their family will be able to live well under unfortunate circumstances may have been unable to afford appropriate coverage in the past. Now, however, they can better prepare for the challenges that accompany marriage, having children, buying a home, dealing with chronic or critical illnesses and other important lifestyle changes.
"Quality of Life…Insurance® and AGLA Advantage make it possible for our agents to meet the needs of our customers with the optimal amount of insurance coverage in each and every household they serve. With AGLA Advantage, we can give people exactly what they need to protect their family in an affordable way," says Scott German, Executive Vice President, Sun America Financial Group Distributors, and Chief Distribution Officer, AGLA.
Many families are underinsured or lack coverage entirely, leaving them in a position where they must hope for the best. AGLA AdvantageSM is designed to help them plan for the way their needs will change over time while taking into account the limitations they face now.
American General Life Insurance Company, www.agla.com, provides a wide variety of affordable and innovative life insurance, annuity, accident and supplemental health insurance products to millions of Americans. AGLA is known for its highly differentiated Quality of Life…Insurance® product suite, personal customer service and a tradition of excellence spanning more than a century. AGLA is a member company of the American General Life Companies.
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. American General Life Companies insurers offer a broad spectrum of life insurance, fixed annuities, accident & health products and worksite benefits.
SunAmerica Financial Group is one of the largest life insurance and retirement services organizations in the United States with more than $265 billion in assets under management in the first quarter of 2012. The organization traces its origins to 1850 and today is among the largest issuers of annuities and life insurance in the United States, as well as a leading provider of defined contribution plans in the education and healthcare markets. Through its American General, VALIC, Western National, SunAmerica, Royal Alliance, SagePoint Financial and FSC Securities businesses, it offers a diversified portfolio of life insurance, investment and retirement savings products, guaranteed income solutions and financial planning services. SunAmerica Financial Group serves over 18 million customers and its products are sold by over 330,000 financial professionals. For more information, please visit www.safg.com.
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