AMERICAN GENERAL LIFE AND ACCIDENT INSURANCE PRODUCT BRIEF

2007-03-08 10:33:40

( Insurance )



American General Life and Accident Insurance Company focus in serving the insurance needs of the middle market in the United States of America trough a focused approached to provide clients a secure future through its affordable, competitive and reliable insurance products. The company believes that a successful financial plan needs an effective life insurance program. Thus, it strives to meet the varied insurance needs of its clients through continuous product innovation and product and market matching.

The following is a short brief on the insurance products of American General Life and Accident Insurance.

Asset Accumulation

Policies that have cash values that accumulates on a tax deferred scheme. The fund can grow either at a guaranteed fixed or variable rates coordinated with a pre-selected investment tools.

Estate Planning

Estate planning insurance offers accumulation, conservation and distribution of personal wealth wherein it carries out the transfer of an estate to designated heirs. The American General Life and Accident Insurance takes care of tax payments and other expenses involved in the estate transfer as designed in its estate planning product.

Term Life

Term life insurance policies offer life insurance protection for approximately thirty years. It provides death benefit and does not offer cash value build up. Thus, it is less expensive than cash value life insurance policies. However, amount of premiums increases as the insured gets older.

Whole Life

It offers permanent life insurance protection to the insured throughout his lifetime. Amount of premium can either be variable or fixed for certain period. Part of premium payment is distributed to the cash value of the policy. The cash value is subject to tax on a deferred basis. In some cases, whole life policies offer cash dividend values.

Annuities

Annuities are contracts wherein the buyer set up a fund with American General Life and Accident Insurance for investment. In return, the company pays the buyer periodic payments during his lifetime. Buyers usually set up an annuity fund for their retirement. The annuity fund grows in coordination with the growth of the investment portfolio that the company used.

American General Life and Accident Insurance offers these products to the varied general life insurance needs of its customers. Thus, each customer has a product designed specifically to his insurance needs.


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