Is my broker right about Term Policies with Living Benefits/Illness Riders?

Hi guys,

I’m currently in the process of selecting a term life insurance policy and working with a broker who claims to be independent and works with various insurers. However, when I asked for quotes, he only provided quotes from Corebridge (AIG). He mentioned that Corebridge is the only insurer offering living benefits/illness riders in their term policies, implying others don’t provide this feature.

I find this hard to believe, as it seems unlikely that other insurers wouldn’t offer similar riders. Can anyone shed light on this or share their experiences with insurers offering living benefits/illness riders in term policies?

Additionally, I’ve come across mixed reviews about Corebridge’s customer service. Considering I’m on a work visa in the US and may eventually return to my home country, I’m also concerned about whether the insurance with Corebridge would still be valid abroad.

Any advice or recommendations would be greatly appreciated.

3 Likes

plenty of carriers offer living benefits, but Corebridge is a solid choice.

Where you’re from can impact your options. The type of visa you have (H1-b, H2A/b, H-3, etc.) might limit which carriers you can use. Some carriers aren’t comfortable with certain home countries due to those countries’ insurance regulations.

Your policy would still pay out if you were to pass away abroad, but make sure you have a U.S.-based beneficiary account.

It’s a good idea to get quotes from different carriers and have your broker go over the pros and cons with you.

3 Likes

Threre are others that offer living benefits…National Life does for term.

3 Likes

Thank’s, I will follow up with them.

2 Likes

In most states, the best carriers for chronic and critical illness living benefits are Corebridge, North American, National Life, Foresters, Transamerica, and Columbus Life.

I work with Corebridge, but their customer service has been terrible lately. Several of my clients had simple issues, but Corebridge made many mistakes. This has been happening for over a year since they rebranded from American General/AIG.

If you’re approved for life insurance while in the U.S., it will still cover you when you move back to your home country. However, you will need to pay premiums from a U.S.-based bank.

1 Like

Other insurance carriers offer term policies with living benefits. It’s important to find one that fits your budget and health needs.

Many carriers have strict health guidelines. AIG is a more affordable option with less strict health requirements.