Does AIG Offer Life Insurance for a Term of Thirty Five Years?
Yes, you may purchase 35 years of term coverage through AIG, if you qualify.
AIG’s Select-a-Term Plan allows you to select the level-premium term of their 35 year life insurance policy, as well as customize your coverage by adding any available riders to your plan.
AIG is one of the largest life insurance carriers in the world, serving millions of customers in more than 80 countries. AIG offers term life insurance, whole life and universal life to individuals.
How Does a 35 Year Term Life Insurance Policy Work?
It works just like any other term insurance policy. Once you have applied for coverage and been approved for a policy, the rate you pay for your life insurance is fixed for a period of 35 years.
The rate you pay never increases during the 35 year term regardless of any change in your health.
In addition, you can cancel your life insurance policy at any time without a penalty from the insurer, but the insurance company cannot cancel your policy unless you don’t pay the premium, or you request to cancel your coverage.
AIG has a conversion option that allows you to convert your term life policy into a permanent life insurance policy.
Who Is A 35 year Term Life Insurance Policy For?
A thirty-five year term policy may be a good option for anyone who would need a fixed rate on their life insurance for a period of 35 years.
For example, a newly married couple may be buying their first home, have young children and may be growing their family in the future, and would look to lock-in a rate on life insurance for the next thirty five years.
A long term 35 year policy can help to guarantee your family has financial security until after your home mortgage is paid off and the kids are grown up and on their own.
What Ages Qualify for a 35 Year Policy?
Usually, a thirty-five year policy is for people ages 45 and younger.
Does a 35 Year Policy Cover Death From Natural Causes?
Yes, an AIG 35 year term policy covers any type of death except suicide within the first two years of being insured. Death by natural causes or accidental death is covered form the first day you are insured.
Does a 35 Year Policy Cover Accidents?
Yes, the AIG 35-year term life policy covers accidental death and death resulting from natural causes. It does not cover death resulting from suicide with the first 2 years of coverage.
What Coverage Amounts are Available?
The amount of life insurance available for 35 years of coverage may range from $100,000 up to $2,000,000.
NOTE: Select-a-Term’s Plan provides an accelerated death benefit that applies to terminal illness.
What is Term Life Insurance?
Term Life is a type of policy that insures the policyholder (Insured Person) for a specific duration of time, which is known as the Policy Term. The term lengths vary according to what the individual chooses.
Terms typically range from 10 to 35 years and increase in 5-year increments, providing level term insurance.
Among the most popular life insurance products available, term life policies tend to be more affordable than other options. They typically provide an amount of coverage for a premium much lower than permanent types of life insurance policies.
How Does Term Life Insurance Work?
Depending on the type of policy, term life can offer fixed premiums for the entire duration of coverage – meaning your premium will never increase during the life of your policy.
The death benefits can be fixed as well – meaning the amount of life insurance provided by your policy will never decrease during the Policy Term.
Because term insurance offers the most affordable type of life insurance protection for a period of 40 years or less, term life policies are very popular with young people just starting out, families and people who want protection for a specific period of time.
For example, someone who wants to protect an income until retirement age, or while paying off a mortgage loan on their home.
Term life insurance does not build up any cash value inside the policy over time, it is Pure Protection – meaning it provides a death benefit only, not an investment.
Here’s How It Works – If a life insurance policy's face amount is $100,000, the beneficiary of the policy receives the full amount. current tax laws.
Term Life Insurance Features
What Does the "Term" Mean for Term Life Insurance?
The meaning of the word "Term" as it applies to a term life policy means – A temporary life insurance policy that covers the policyholder for a specific period of time, known as the "Policy Term".
That means, a 35 year term insurance policy from AIG would provide you with protection lasting for thirty-five years, as long as you pay your premiums on time.
The amount of life insurance provided by the policy remains the same for the entire duration of coverage, and the premiums never increase during the 35 year term, even if your health changes.
Summary
With the increased life expectancy over the years due to improvements in modern medicine, several life insurers now offer 35 year term insurance plans.
This may be a good option for someone who wants to have life insurance for a duration of thirty-five years without having to pay the higher premiums for a permanent life insurance policy.
With a thirty-five year term life insurance plan you have coverage that is guaranteed to never increase in cost, and the amount of life insurance policy will never decrease during the life of your plan.
You pay as you go and can cancel your policy at any time.
Term Life Insurance Quotes
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AIG 35 Year Term Life Insurance
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