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Universal Life
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AIG American General life insurance companies are leaders in the life insurance industry providing innovative products and services to over eight million customers.

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Universal life policies offer policy owners the flexibility to choose both the amount of insurance and the premium to be paid with a range of potential premiums.

Universal life products may offer a no-lapse guarantee to ensure that coverage will continue from the policy issue date for a specified period of time, as long as the minimum guaranteed premiums are paid. These policies may be maintained with less than the guarantee premium and include a catch-up provision which allows the policy owner to catch up the guaranteed premium at any time if the policy is in force.

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  • As needs change, the amount of coverage and premium paid may be adjusted, subject to certain limitations.
  • Premium payments are credited to a cash value account where the policy earns tax-deferred interest at a rate set by the company, which may be higher than the minimum rate guaranteed in the policy.
  • The policy expenses and cost of insurance charges are deducted monthly from this cash value account. Generally, cash values can be accessed by the policy owner through policy loans and withdrawals (charges may apply).