Should you worry about AIG?

If you have life insurance coverage with AIG American General Life Insurance Company... do you need to be concerned about the financial debacle they've found themselves in?  The answer is a resounding, "Absolutely Not!"  AIG's traditional insurance companies are separate and distinct subsidiaries by design.

State regulators impose strict "solvency standards" on insurance companies to ensure there will always be money in the bank to pay claims.  In addition, there is an another safety net in the form of state guaranty funds.  There are numeous levels of protection in place-- and as a company with over $1 Trillion in assets-- customers holding AIG policies have little to fear.  

AIG's receipt of an $85,000,000,000 loan from the federal government will get the company over a difficult hump.  We'll watch things closely for our customers to keep you informed.  In the meantime, here is a link from the National Association of Insurance Commissioners (NAIC) that provides some further information for you and, we hope, some peace of mind:

NAIC Press Release Regarding AIG Solvency Standards

If you want to consider a life insurance plan with another provider, don't hestitate to call us to discuss options.  Feel free to run quotes from additional life insurance companies while you're here.  Life Insurance Quotes

 

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