Amy’s Question

I bought a term life insurance policy through you with AIG. Now AIG seems to be in financial trouble. What will happen to my policy if they go bankrupt?

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2 Responses to “Amy’s Question”

anita says:
March 20th, 2009 at 4:39 pm

To my knowledge, no life insurance company has ever gone bankrupt. Some other life insurance company has always stepped in and bought the company. I have bEen in the business 25 years.There are already talks about companies buying AIG.
Mark Palsha says:
March 22nd, 2009 at 10:39 pm

Byron,

Would you yourself renew a policy with AIG? My concern is the same as Amy’s. Is it best to seek out a new company for a similar term policy or stick with AIG and hope they survive and will pay surviving members? The other bad feeling is paying a policy and realizing that many execs within the company are getting paid excessive bonuses. Seems like the Insurance costs could be reduced if this wasn’t considered standard practice. Who is the best rated Insurance Company now…in your opinion?

Sincerely,

Mark Palsha

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Amy’s Question

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