If you own a term life insurance policy with American General, you can convert your policy to a permanent one with no evidence of insurability. This goes for the “Select-A-Term” product and the “Ultra-C” term product.
American General Conversion Period
This has changed over the years. If you’re not sure, give us a call and we’ll find out for you. Currently you can convert your policy up to age 70 or when the level premium period of your term expires (whichever is earlier). If you purchased before 2008, you may be able to convert up to age 75, we would have to look at your policy.
American General Conversion Options
Currently you can convert to ANY of American General’s products during the first 5 years of the policy. This includes their “AG Secure Lifetime GUL” which in their most popular universal life product on the market at this time (guaranteed level and very competitive).
After 5 years pass, American General limits what you can convert to. The best option being a universal life product with a 10 year guarantee.
While we disagree with the American General life insurance conversion options after 5 years, it is still a great option for those whose health has declined. If you are still in decent health, we would run an analysis of all 60+ life insurance carriers we represent and find the best option and compare it to converting your current American General term policy.
It's important that you work with an agent who is experienced in converting American General Life Insurance policies. If you can't find the agent who sold you your policy (most can't), we would be happy to help you.
If you're considering a life insurance conversion to your American General Life Insurance policy and would like a FREE assessment of your conversion options, please call us at (888)430-7668 or fill out the form on the right.