Life Insurance
Life Insurance - It's important to buy life insurance before you need it. Read on to find out how it can help you plan for a rainy day, while enjoying a sunny one.
Welcome to AIG Direct’s guide to understanding life insurance. If you’re considering a life insurance policy, this is a great place to begin. The information you find in this guide can help you determine your needs and how to apply for coverage. To learn more about life insurance, we encourage you can read through the following sections or consult with one of our knowledgeable and licensed agents. You can also choose from the menu below if you are interested in a specific topic.
HOW DOES LIFE INSURANCE WORK?
"How does life insurance work?" is a question we hear a lot. Though it may feel like you're facing a steep learning curve, the good news is that understanding how life insurance works might be simpler than you imagine.
TYPES OF LIFE INSURANCE POLICIES
Life insurance policies come in a great number of shapes and sizes. If you're choosing a policy for the first time, it's important initially to decide which type of life insurance is ideal for your specific situation. Policies can generally be broken down into two categories - term and permanent.
WHICH TYPE OF LIFE INSURANCE POLICY IS RIGHT FOR ME?
You've spent countless hours researching life insurance options, but still aren't sure which one is right for you and your family. Between reading articles and vetting life insurance companies, it can start to feel a lot like homework. (And who likes homework?) We're here to help guide you through the process - not give you more work to do.
WHAT TO EXPECT WHEN YOU APPLY FOR LIFE INSURANCE
Buying life insurance may seem daunting at first, but with a little guidance from us, you can easily find and apply for a life insurance policy that fits your needs. We have knowledgeable, licensed agents that are always on standby to help guide your decisions.
LIFE INSURANCE MEDICAL EXAM
Simply put, the medical exam portion of the life insurance application process is used to determine if you have any health conditions that could affect your rate class. It shouldn't take more than 30 minutes, and can help you secure a better rate for your life insurance policy.
MANAGING YOUR LIFE INSURANCE POLICY
Once you've secured your life insurance policy, it is important to review your coverage periodically. Reviewing a life insurance policy after important life events or life changes may prompt you to update or increase your coverage.
RENEWABLE TERM LIFE INSURANCE
Renewable Term Life is not a standalone Term Life Insurance policy, but rather, a vested feature that can be enacted towards the end of a Term Life Insurance policy. The Renewable feature of Term Life is also known as Annual Renewable Term Life Insurance, or Yearly Renewable Term Life Insurance, all of which refer to the option to renew coverage each year after the original term expires.