Diﬀerent types of insurance — such as homeowners, car or health insurance — can provide the security of knowing that your assets are protected financially for years to come. But it can also come with a degree of unpredictability, as your policy’s premium payments may increase over time due to interest rates or other factors.
When it comes to life insurance, consumers can avoid these cost increases depending on what type of coverage they buy. Guaranteed level term life insurance is a type of coverage with fixed premiums that do not increase over the life of the policy. When a policy premium can remain level for up to 30 years (or even longer, in some cases), this premium stability can lead to more certainty in savings and budgeting.
In addition to the premiums staying the same, the death benefit of a guaranteed level term life insurance policy also typically remains unchanged over the life of the policy. This helps ensure that an individual’s beneficiaries will receive the full benefit payout amount that was originally purchased.
There are several diﬀerent types of term life insurance, as well as diﬀerent financing and death benefit options. For example:
Permanent life insurance often features cash values, potential borrowing power, interest crediting options, paid dividends and more. While these features can be beneficial, they can also cause premiums and death benefits to fluctuate.
Guaranteed level term life insurance is unique in that the policy is the same in year one as it is in year 30, with the same premiums, the same benefits and the same coverage. This type of life insurance allows consumers to know exactly how much they will be paying in premiums, how long they will be paying them and how much will be left behind for a beneficiary.
This kind of cost certainty and predictability allows people to obtain the life insurance coverage they desire with the aﬀordability they need.
The process for buying guaranteed level term life insurance is no diﬀerent from that of most other types of term life insurance. Choose a term (which can vary from 10 to 35 years at AIG insurance companies), a coverage amount (which our handy coverage calculator can help you with) and then let an AIG-appointed life insurance agent work with you to obtain the desired coverage.
Contact us today at 866-971-4232 to get started.
Agency services provided by AIG Direct Insurance Services, Inc. ("AIG Direct"), CA license # 0B57619 and AR license # 0100105378, a subsidiary of American General Life Insurance Company ("AGL"), Houston, TX and an affiliate of The United States Life Insurance Company in the City of New York ("US Life"), New York, NY, all members of American International Group ("AIG").
Policies issued by: American General Life Insurance Company (AGL), Policy Form Numbers ICC16-16901, 16901, ICC16-16900 and 16900 except in New York, where issued by The United States Life Insurance Company in the City of New York (US Life), Policy Form Numbers 16901N and 16900N. Issuing companies AGL and US Life are responsible for financial obligations of insurance products and are members of American International Group, Inc. (AIG). Products may not be available in all states and product features including rates may vary by state. All guarantees and benefits of the insurance policy are backed by the claims-paying ability of the issuing insurance company. They are not backed by the broker/dealer and/or insurance agency selling the policy, nor by any of their affiliates, and none of them makes any representations or guarantees regarding the claims-paying ability of the issuing insurance company. ©2018. All rights reserved.
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