Speak with an experienced advisor! AIG is one of our favorite companies for numerous reasons. One consideration is that their underwriting can be, in certain situations, more lenient and open to certain client lifestyles. In this short article we will discuss AIG and their rules about Cholesterol measurements.
How AIG Considers Cholesterol:
AIG has a good approach to potential insureds who may have slightly high or elevated levels of cholesterol. Or for potential insureds that are using various medications to deal with their higher cholesterol such as statins.
According to the American Heart Association, Cholesterol is a "a waxy substance....Cholesterol circulates in the blood. As the amount of cholesterol in your blood increases, so does the risk to your health." There are multiple types of cholesterol, some good and some bad.
There are numerous ways to measure cholesterol including the total cholesterol number and the HDL cholesterol ratio. AIG considers the following HDL cholesterol ratios and total cholesterol numbers with applicants:
AIG Preferred: Plus: 5.0 with 215 or 4.5 with 290
AIG Preferred: 6.0 with 245 or 5.5 with 290
AIG Standard: Plus 7.0 with 260 or 6.5 with 290
AIG Standard: Underwriter Review Required
How AIG views Cholesterol Medications:
Depending on the type and severity, AIG is generally open to cholesterol lowering medicines, often know as Statins. There are other types of cholesterol lowering meds, but statins are the most commonly prescribed. You will want to discuss with your agent about the prescriptions which you are on. The names, the types, and the dosages.
Name of Medicine
Dosage of Medicine
How AIG compares to Other Life Insurers:
In comparison to other insurers American International Group (AIG) is more open to consumers that have elevated levels of lipoproteins (LDL.) Based just on their preferred plus category they are much more generous than many other insurers. If you are healthy otherwise but merely have a higher total cholesterol number - AIG might be the insurer for you. If you are on Statins for this waxy substance, than AIG may be for you.
About AIG:
American International Group, abbreviated AIG is one of the largest insurers in the world. The company offers one of the largest arrangements of insurance products, including property, casualty, life insurance, and numerous other financial services. The company was originally founded in 1919 by Cornelius Vander Starr. The company employs over 50,000 worldwide. They offer a complete suite of financial and insurance services. Their life insurance division is one of the biggest.
Since AIG is such a large company looking at their Financial Strength Rating (FSR) can be a bit of a mystery. But here are two of their entities and their FSRs:
American General Life Insurance Company: A
United States Life Insurance Company in the City of New York (US Life): A
As far as Term Insurance is considered, we generally consider anything higher than A- to be acceptable. This means companies with the following AM Best Rating: A- , A, A+, and A++.
About AIG Term Insurance:
AIG offers numerous life insurance products. They offer a Universal Life Insurance Product, a Return of Premium Term Insurance Product, and their AG Select Term product. Their Select a Term product is of notable importance to our clients. We feel that it is a a good value and the underwriting is solid. In other words they offer a great rate with very competitive underwriting.
Generally speaking AIG's term products are convertible to their universal products within a specified period of time. Convertibility can be an incredibly useful product.
What is Cholesterol:
Your total cholesterol is compromised of:
LDL (low-density lipoprotein) - the so called Bad type.
HDL (high-density lipoprotein) - the so called Good type.
Triglycerides - the other type of fat picked up in various tests.
According to the Mayo Clinic in order to calculate your HDL ration you: "divide your total cholesterol number by your HDL cholesterol number."
For more information concerning buying life insurance with a high HDL number, please read our article:
| High Cholesterol Life Insurance. |
Questions about AIG Cholesterol:
Question: If I meet AIG's ratios am I guaranteed of qualifying for their insurance.
Answer: No not at all. For one, you are assuming that you since your previous set of test results came back one way that they will come back that way a second time. This is not guaranteed. Second, there are all sorts of other underwriting guidelines that you need to qualify for.
Question: Does AIG term accept clients that use statins?
Answer: In general yes they are open to the use of statins. However everything is case specific.
Question: Do you think it makes more sense to apply now when my HDL ratios are slightly elevated or to try and wait while i lower them?
Answer: If you have a need for life insurance than you have a need for life insurance. Why wait - in order to save a few dollars? Honestly apply now and see if you can lower it at some later time and reapply again. If you have a need for life insurance now, than solve that problem now. Term insurance is not really too expensive these days.
Question: How often do insurer's financial strength ratings change? Will AIG's FSR change?
Answer: Each year AM Best updates their ratings. However there is nothing that prevents them from changing it mid year. Their current FSR of an A could change in theory. We advise you to login to AM Best and review their FSR history.
Question: Are AIG's term rates competitive?
Answer: AIGs rates are very competitive in the marketplace.
Conclusion AIG Cholesterol:
Your total cholesterol number, HDL ratio, and the medications that you are on are major considerations for all insurers including American International Group. This article AIG Cholesterol is about how the American International Group considers your cholesterol levels for the purposes of selling you life insurance. This information is subject to change at any time depending on the carrier.
Thank you for reading our post about AIG. This facet of their underwriting makes AIG one of our favorite carriers. Should you have any questions, please do not hesitate to contact us below or by via email.
scott at marindependent.com
