AIG - "Quality of Life Insurance" AGLA Flexpro

[77CH]

I am with AIG, and I really love the Quality of Life. I'm with Agent Jeff on that VUL. It can be good, but it seems like it really wasn't explained well enough to you.

I've got to disagree with agent jeff on the term though. With that Quality of Life, you can accelerate the benefits on several conditions -- which is something you can't do with many policies, let alone term. Of course, your health insurance is there to take care of you with one of those major illnesses, but I like the idea of being able to get money from the face amount (not a partial surrender for you agents out there) to help bridge gaps or cover costs.

Furthermore, the guaranteed rates really aren't that great. However, those policies pay higher current rates. Sure, current rates aren't guaranteed (hence the name, current), but current rates are tied to many things like bonds and what not. Interest rates are pretty low right now, and they really aren't going to go much lower. (look at historical government bond yields to see what I'm talking about)

By the way, for a 500K Flex Pro Plus, I'm showing 340/mo ($4080 annual premium) that builds excellent cash surrender values @ the current rates.

I am attempting to contract to sell the Quality of Life product, however AIG brokerage knows nothing of this product. How do you become contracted, or are you direct with AIG?

 

[dgoldenz]

Wonder where the COI's will be going on AIG permanent products these days....I'll give you a hint - it's not downward. There goes your cash value. Life insurance is the worst way to invest your money. Take your $6k premium, use $3k of it to buy a regular UL, and invest the difference in an annuity or something. That way if you die you'll end up with the death benefit plus the annuity money instead of the death benefit alone for double the premium each year.

 

[balcie4]

"Quality of Life Insurance" is not available through AIG or American General (Houston), it is sold exclusively through American General Life and Accident (Nashville). Not mentioned in earlier post is the Protected Money aspect, any monies (lump sum or monthly contrubutions) deposited over benchmark premium is put into a seperate Protected Money savings account. During the first five years of your UL contract you can use this money as a Liquid savings account free of tax charges and no surcharges only fee is $25 to get access to your money. The amount you can deposit per year is based on TAMRA laws, and will not be taxed as long as you stay under the Guidline Level premium. Current intrest for deposit into protected money is 6% guaranteed not to go below 5%

 

[balcie4]

I am attempting to contract to sell the Quality of Life product, however AIG brokerage knows nothing of this product. How do you become contracted, or are you direct with AIG?

Not an AIG product, American General Life and Accident product. w w w dot agla dot com

 

[benpkwy]

On the independent side the pay is not that good compare to other companies UL. However, it is one of the best product out there. I've been selling the "Quality of LIfe" product ever since it came out. The UL product is very competitive. The current interest rate is 6% and guaranteed 5% for the next 10 years. ON top of that the ABR riders. There's is not a company out there with better UL than AGLA

 

[bluemarlin08]

Why would one purchase any new product from AIG under the current circumstances?

 

[Mark]

Why would one purchase any new product from AIG under the current circumstances?

I don't think if you was giving it away free, anyone would take an AIG Texas policy right now. They only know what they watch on the news. Truth don't matter.

When you have to borrow 80 billion dollars, it says something.

 

[dgoldenz]

I don't think if you was giving it away free, anyone would take an AIG policy right now. They only know what they watch on the news. Truth don't matter.

When you have to borrow 80 billion dollars, it says something.

x2

That's just asking to get sued at some point.