AIG is now BMO:Consumer Friendly Changes at AIG

Posted on June 23, 2008 and updated June 17, 2010 in Life Insurance Canada News 2 min read
AIG

AIG Life Canada has recently made the following five changes to its life and critical illness product line-up as of June 2008:

  1. Changes to Yearly Renewable Term (YRT) plans on their Universal Life Dimension series

  2. New lowered Preferred Term 10 and Term 20 rates

  3. A new Business Guaranteed Insurability Option for business clients

  4. New T100 Rider on all Life Dimension plans

  5. A new 15 Pay Living Benefit 100 (CI) plan plus bench mark definitions on all CI plans


Lorne’s Analysis
These are all consumer friendly changes. The YRT COI insurance options allows clients to maximize the cash accumulation during the early years of the Universal Life plan.


Lower Term 10 and Term 20 rates make an already attractively priced Term line-up even more competitive.
The business guaranteed insurability option allows business owners to protect their insurability while their business grows.
Term 100 Riders lower the cost of adding Term 100 coverage to their Universal Life policies.

AIG is now one of the company’s in Canada to offer a 15 pay feature on their critical illness policies.

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