AIG - American General Life Insurance Company - American Internation Group, Cancelled our policy after 23 years because we did not get a bill. Houston Texas

With all due respect, the first thing that popped into my mind was, THIS IS A TERM POLICY LADY!!! You've been paying on it for 23 years and you've paid $35,000 dollars. I feel for you. But what you must understand, and I'm an insurance agent, is that Term Life is like "Renting" an apartment. You don't have any equity, like if you owned a house, that would be Whole Life (with cash value). My point is that the longest Term Life policy that I've sold is 35 years. Yes, if you're husband died a month after the company says that the policy lapsed, this is a tragedy and you should really hire an attorney, however, with a term policy, the coverage is only for a specified period of time, hence, term anyways! If your husband got the policy when he was 40 and the Term Life is for 35 years, but he dies at the age of 80 you would be in the exact same predicament. People need to understand, that Term is really only good when you want high coverage amounts for lower premiums in order to protect specific things i.e. mortgage, college tuitions for the children, for a specific amount of time, however, if you want something to show for all the premiums and you want permanence then you need to instead purchase either a Whole Life or Universal Life policy with cash value.

Thank you.

-Michael

I'm a licensed insurance agent contracted with AIG. You can still re-instate your policy by resubmitting payment and simply filling out a "Short Health Statement" or as AIG likes to call it "PHS".

I doubt that they will re-evaluate his health again, if his policy lapsed within the term period he should still be able to reinstate with his guaranteed premium. I worked with AIG for many years, they are a mess but still a very strong company with very affordable plans. They lack in customer service, most of their inside reps don't know what's happening most of the time.


FYI. I am not employed by AIG, I hold contracts with them and other "A" Rated companies in the US.

I'm a licensed insurance agent contracted with AIG. You can still re-instate your policy by resubmitting payment and simply filling out a "Short Health Statement" or as AIG likes to call it "PHS".

I doubt that they will re-evaluate his health again, if his policy lapsed within the term period he should still be able to reinstate with his guaranteed premium. I worked with AIG for many years, they are a mess but still a very strong company with very affordable plans. They lack in customer service, most of their inside reps don't know what's happening most of the time.


FYI. I am not employed by AIG, I hold contracts with them and other "A" Rated companies in the US.

I'm a licensed insurance agent contracted with AIG. You can still re-instate your policy by resubmitting payment and simply filling out a "Short Health Statement" or as AIG likes to call it "PHS".

I doubt that they will re-evaluate his health again, if his policy lapsed within the term period he should still be able to reinstate with his guaranteed premium. I worked with AIG for many years, they are a mess but still a very strong company with very affordable plans. They lack in customer service, most of their inside reps don't know what's happening most of the time.


FYI. I am not employed by AIG, I hold contracts with them and other "A" Rated companies in the US.