American General Life Insurance Review

A new fast-growing insurance provider, American General Life insurance is there to make sure your needs are met from start to finish.

By: admin Posted: September 28, 2010 Filed under: Life Insurance

The Good

Financially Secure • Knowledgeable Staff • Variety of Products • High Customer Satisfaction

The Bad

A Little Pricier

Overview

Founded in 1990, American General is developing into a major player in the Life Insurance market. American General is actually multiple insurance companies that have been bought out and have formed the company which is now the American General Corporation operating today.
American General has an excellent foundation with rock solid financial statements. Both Moody's and the S&P rate American General with an A+ in financial security, something not many companies can boast about today with the rough economy.

Policies / Plans

Unlike other life insurance companies, American General provides a large variety of life insurance products. They include:

Term Life Insurance - Normally lasts a period of 10 or 20 years. It accumulates no cash value and is normally renewed automatically. It cannot transfer into a permanent insurance policy in some cases.

Whole Life Insurance- A policy which simply lasts until a person dies. It also can be used for businesses and provides a solid foundation on which you can build a financial plan.

Universal Life Insurance- The most flexible of plans, a universal policy accumulates cash value that varies and the policy amount can also vary.

Unique products offered by American General are accident and quality of life insurance. Essentially if you are in an accident at work or at home, cannot work or earn an income, and have accident life insurance, then you will receive benefits until you can get back to your normal life. With quality of life insurance, if you or a loved one is permanent disabled or has a life threatening medical condition which affects their daily life, then you quality for benefits.

Pricing / Rates

Due to the unique features and products offered by American General, policies tend to be a little more expensive. As with all the companies the same data was used to get both a universal quote and term life insurance quote. The term insurance quote was $286 and the permanent insurance quote was $234. This is a little more expensive but not too much more.

Getting A Quote

Getting a quote couldn't be simpler. Every insurance provider seems to have an online quote calculator and American General is no different. Call a sales representative though, they are a lot more helpful then the website is though.

Customer Service

Top-notch customer service is the only way to describe the treatment you will receive at American General. Customer Service agents go above and beyond to make sure any issue is resolved and strive to avoid issues from occurring in the future. The agent that was spoken to was very helpful, found a discount that would've been immediately applied and offered advice on future packages. Definitely was one of the easiest and pleasant customer service agent out of all of the life insurance companies.

Summary

Overview:

Founded in 1990, American General is developing into a major player in the Life Insurance market. American General is actually multiple insurance companies that have been bought out and have formed the company which is now the American General Corporation operating today. American General has an excellent foundation with rock solid financial statements. Both Moody's and the S&P rate American General with an A+ in financial security, something not many companies can boast about today with the rough economy.

Policies / Plans Rating:

Policies / Plans:

Unlike other life insurance companies, American General provides a large variety of life insurance products. They include: Term Life Insurance - Normally lasts a period of 10 or 20 years. It accumulates no cash value and is normally renewed automatically. It cannot transfer into a permanent insurance policy in some cases. Whole Life Insurance- A policy which simply lasts until a person dies. It also can be used for businesses and provides a solid foundation on which you can build a financial plan. Universal Life Insurance- The most flexible of plans, a universal policy accumulates cash value that varies and the policy amount can also vary. Unique products offered by American General are accident and quality of life insurance. Essentially if you are in an accident at work or at home, cannot work or earn an income, and have accident life insurance, then you will receive benefits until you can get back to your normal life. With quality of life insurance, if you or a loved one is permanent disabled or has a life threatening medical condition which affects their daily life, then you quality for benefits.

Pricing / Rates Rating:

8.9

Getting A Quote Rating:

Getting A Quote:

Customer Service Rating:

9.6

Overall Rating:

9.40

American General doesn't have any exotic mascots or a flashy website but it is top 5 life insurance provider when coverage and customer service is counted. It's definitely a company which values its' customers. The website provides incite into insurance basic insurance questions as well as other resources to determine if they are the best suit for you. American General's unique products are what really bring their rating up and they are only getting better by the day.