AIG is now BMO:AIG Life’s Universal Life Plans can be a great fit


AIG Life has three separate universal life programs with over 400 investment options—so when you go shopping, you’d better pick a broker who knows his/her stuff.

AIG’s Life Provider plan is available from birth to age 50, and at face amounts from $25,000 to $500,000. The lower face amounts are great for parents who want to set up a low-cost level rate insurance policy for their children. Larger policy amounts are available under the Life Dimension or Life Dimension Prestige plans. The latter has no surrender charges if you want to withdraw funds in the early policy years.

Their universal policies are available with a whole host of riders, including a critical illness, term 10, term 20, or children’s term riders. Their investment options include AIM Trimark, Mackenzie, Franklin Templeton and AGF. They also offer index funds and guaranteed investments within their Universal Life accounts.

Their rates are competitive at most ages. A 45-year-old male who applies for $250,000 of Universal life level cost coverage would pay a minimum premium (i.e., the premium to keep the plan in force) of $175.39 per month.

Universal life coverage on its own can be a confusing topic, but when combined with AIG’s myriad of investment and insurance choices, it can get a bit overwhelming. But if you do homework and work with a qualified broker, AIG can be a great fit.

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What Clients Say About LSM

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  1. Paul Brown 07/17/2008 at 2:54 pm

    I am trying to locate information on my life insurance policy that I am paying for. I have not received a policy or number. For submitting a medical claim.

  2. LSM Insurance 07/17/2008 at 4:13 pm

    Hi Paul,

    I’ve sent you the info you need to be able to find your life insurance policy. Thanks for stopping by.

    Regards … Lorne

  3. Debbie 01/25/2009 at 9:41 pm

    Help! My father purchased a Universal life policy from AIG over 22 yrs ago. The premium has been 1584.00 since day one. Now, he gets a letter saying he needs to pay anoter 500.00 to keep the policy in force by 1-27-09. He paid the premium for 2008. 2009 is normally due at the end of January. I called his agent…he said there was not enough earnings to make the additional premium. I asked how much the policy was going to go up before he committed to another 500.00 for last year. The agent was not sure…he has not returned calls or sent him a bill for 2009 yet. The policy is for $50,000 – he has already invested over $33,000.00. Can they really say that he has no value in the policy? Is this part of AIG bailout? Please answer. thanks..Debbie

  4. LSM Insurance 01/26/2009 at 9:09 am

    Hi Debbie,

    Thanks for the email You would have to contact AIG directly on this. Their details are in the attached link link to

    It looks like your father purchased a Universal Life policy with an increasing cost of insurance (i.e the cost of insurance goes up on an annual basis) These policies allow for higher cash value build up in the early years but can result in increased payments in the later policy years – especially if the plan has had a poor investment performance.

    The policy would not have been impacted by the bailout.

    I hope this helps! Regards … Lorne

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