American General Life Insurance has been around since 1826. They currently hold an "A" (excellent) rating with A.M. Best. A.M. Best is the industry benchmark for financial strength in the life insurance industry.
In 2001 AIG acquired American General. A common question that's raised with our clients is regarding the bailout and if American General Life Insurance in 2008 and if American General is a reliable company. In short, American General and all their policy holders are in great hands. American General Life Insurance Company is a separate entity with a different set of financials than AIG. Industry laws require a set amount of reserves to pay claims and they can't be comingled with any other entities. If AIG went down, American General would still be fine.
American General currently offers term life insurance, universal life insurance, variable universal life insurance, index universal life insurance and whole life insurance. They are competitive in all categories.
As agents appointed and licensed to offer American General life insurance products, we only have good things to say about them. They are very fair and I would go so far as to say very lenient with their underwriting guidelines. Their service is impeccable and they have some of the best sub-standard rates on the market.
