AIG is now BMO:AIG and their Preferred term


AIG Life offers Term 10 and Term 20 plans which are well priced and provide some competitive advantages. Both plans are renewable to age 85, and are convertible up to age 70. The plans also allow you add a living benefit rider, thus saving the $6.75 per month policy fee.

Their Easy Term 10 plan is available without a medical; however, it should be noted that the applicant will still have to go through the traditional application process, and may require a physician’s letter.

Individuals who are in good health and have very good family health history can qualify for preferred rates; better yet, those in excellent health can get preferred plus rates.

Below are examples of AIG’s Term 10 rates on $250,000 of coverage:

Insured………….Standard Rates……Preferred Rates
35-yr male N/S:…$20.03/month………..$14.80/month
45-yr male N/S:…$33.54/month………..$25.65/month
55-yr male N/S:…$75.38/month………..$55.80/month


Unfortunately the plan name itself is confusing. AIG refers to two of their term policies as Preferred Term 10 and Preferred Term 20, but the plan name implies that all policies are issued at preferred rates when, in fact, the majority of policies are issued at standard rates (yet still carry the Preferred Term name). In addition, the plans are not available at face amounts under $100,000—this can problematic for older applicants on a tight budget.

Most recent articles

Your email address will not be published. Required fields are marked *

  • LSM Insurance
    July 20, 2008 at 11:39 am

    Hi Nagesh,

    Thanks for your note. I have sent you some information in a seperate email. You can cancel an individual health insurance plan at any time. The premiums can be adjusted annually by the insurance carrier based on the claims experience of the entire group of individual policyholders.

    Please feel free to contact me at 905 248 4849 for more details.

    Regards … Lorne

  • nagesh
    July 20, 2008 at 9:44 am

    Please send me a plan of health insurance up to 70 age

  • LSM Insurance
    June 17, 2008 at 12:37 pm

    Hi Diane,

    I have sent you some information.

    Please feel free to contact me at 905 248 4849 for a quote or to discuss things in more detail.

    Regards … Lorne

  • Diane Sanderson
    June 11, 2008 at 8:33 am

    I am interested please send me some brochures regarding the AIG insurance. I am 62 going on 63, still working and healthy.
    11 Dervock Crescent
    Apt. 410
    NORTH YORK, Ontario. M2K 1A6