American General Life Insurance Company (AIG) recently extended the term life insurance coverage length on it’s AIG Select-a-Term product to 35 years. This is the longest term length available from a major life insurance company in the industry. The longest term length before this change was 30 years.
Consumers can now choose from additional term lengths of 31, 32, 33, 34 and 35 years for term life. With these new term lengths, a 45-year old applicant can purchase a 35-year term length policy and have continuous term life insurance coverage to age 80. With the existing 30-year term length product, a 55-year old applicant could have coverage all the way to age 85.