I am moving from whole life to term life insurance, and thanks to SelectQuote, I was able to receive rates from American General Life Insurance (AIG) that were far lower than those I had from my house and car insurance provider. Is this typical? Do bigger insurers put up more of a struggle to make a payout when someone passes away? Given their size and focus on life insurance, is it possible for AIG to provide greater coverage at more affordable prices? In what ways does American Family Life Insurance differ from AIG? If this is not the right decision, I just do not want to squander my money. Any advice would be much appreciated! I am grateful.
AIG has a good financial rating from A.M. Best, while American National does not have a rating from A.M. Best.
Switching from whole life to term life is a great call! Term life is simpler and often cheaper, especially from a company like AIG that focuses on it. They might offer way better rates than your current one-stop-shop insurer. Get a quote from AIG, but don’t forget to check with your current company too. Pick the best deal for your needs, no need to rush!