American General Life Insurance Company: Not Just For Soldiers

Often known as AIG for short, American General Life And Accident Insurance Company was not named because they only offer insurance to American generals. In this case, the word "general" refers to the word's alternate meaning of "common to or current to the majority" (Funk & Wagnalls Standard Dictionary, 1980). Over four million Americans use American General Life And Accident Insurance Company for their insurance needs, whether for business or private use.

How Stable Is AIG?

Although any life insurance company offers great rates and incentives, not every insurance company is going to be around in the next few years. Before you decide on any insurance company, take a look at its financial ratings. There are several independent financial ratings watchdog companies that act as a Consumer Reports of the financial world.

The top ratings companies are Standard & Poors, FitchRatings and Moody's Investors Service, which release their ratings to the general public. They grade a lot like the American school system, with A being outstanding and F as "failed". American General Life And Accident Insurance Company has been consistently A++ or even higher for the last few decades. This means, among other things, is that the company is financially stable.

A Brief History Lesson

American General Life And Accident Insurance Company has been in business for over 100 years, starting on February 28, 1900 in Tennessee. Back then, its name was "The National Sick And Accident Association of Nashville." For a while, it was known as the NLT Corporation. It merged with Houston, Texas-based American General Corporation in 1982. Since then it not only changed its name several times, but bought out yet another insurance company.

Although American General Life And Accident Insurance Company does offer employers services for their workers, the company is more focused on the insurance needs of the individual (often called "middle market" in insurance speak). Choices offered include term insurance, universal coverage and their trademarked "Quality of Life Insurance".

The latter is a new idea in life insurance giving money when you and your family need it BEFORE you die. This insurance helps pay the bills in case you contract a critical illness or even a terminal illness. It helps if you suddenly become disabled and even with retirement, as well as life insurance to help your family out in case you die. AIG is available in most states, so check and see if it is available where you live.