If you own a life insurance policy of US General (AIG subsidiary) and you were paying attention to the news, it is quite understandable that why you may feel a little anxious. True, the mortgage crisis has affected several major financial institutions and if you are a US holder of general life insurance policy, you are rightly concerned. As a customer AccuQuote and a life insurance policyholder American General, the choice is always yours to switch life insurance provider. Our goal is to help you make an informed decision
That said, I would like to provide the following information which I believe guide you in your decision making process :.
- American General is a wholly owned subsidiary of AIG. The US general is strong, profitable and growing
- Insurance continues to be one of the most important sources of income for AIG
- The insurance industry is highly regulated -. Until all life insurance companies doing business in the United States must maintain cash reserves for any / all life insurance they issue. These cash reserves are invested in investment grade high quality fixed income securities which are extremely stable. This practice ensures the contractual obligation for the life insurance company to pay death benefits for long-term policies in force.
- If there is concern about the ability of an insurance company to pay claims, all state insurance commissioners have the power to essentially merge the assets of a troubled insurer through a takeover by most insurers. This method has been used successfully and repeatedly to prevent the default of a single payment of a death claim in over a hundred years in the United States and to ensure that all current policies is honored on basic terms and conditions of origin. No recipient of death in the history of the market for life insurance in the United States has never been denied or shorted on a death claim legitimate payment
AccuQuote will in fact continue to sell the American general as they are still rated A or better by AM Best. We think they are solid and will continue to be a leader in the long-term life market, despite the difficulties of their parent knows. However, again, the choice is always yours. We do not push a company to another. Therefore, if you are concerned regarding any existing or you have recently applied to the US general policy, we would be happy to help you in choosing an alternative society. Just feel free to contact us at 800-442-9899 regarding any questions or concerns you may have.
0 Komentar