A new and innovative approach to meeting the life and health insurance needs of our customers with alternative solutions.
What if life insurance was designed to help policy owners live their lives, not just ease the financial burden at life's end? Quality of Life...Insurance may allow owners to receive their benefits before their death to help pay for critical health care needs or help meet certain financial goals and obligations.
This type of bold approach is paying off in times of need for our customers. After buying a new home, a young father purchased a Quality of Life...Insurance police in January to ensure his family and mortgage would be protected if something should happen to him. A few months later, he was diagnosed with throat cancer that required surgery and months of radiation and chemotherapy. He was self-employed, and while he was sick, he was unable to work. Even though his wife's medical insurance covered most of his treatments, her salary alone was not enough to cover the co-pays, deductibles, and additional out-of pocket expenses--while also supporting the two of them and their three children.
With help from his agent, this young father chose to "accelerate" $50,000 of his life insurance benefit under the Critical Illness Accelerated Benefit Rider, which was included in his Quality of Life...Insurance policy for no additional premium cost. "Accelerate" means to receive a portion of your life insurance benefit before your death if you have a chronic, critical or terminal illness. He accepted the company's offer of $45,381.
This story is one of many about individuals who have benefited from an innovative and cost-effective approach to life insurance that doesn't require death to be useful. Of course, individual results will vary.
We're in an unsettling time amid a down economy and a polarizing national healthcare debate. Americans are looking for affordable life insurance solutions to help them navigate these challenging times and that is what Quality of Life...Insurance is designed to do.
In the four years that Quality of Life...insurance has been made available, consumers have purchased more than 192,000 policies for over $23billion in total issued face amount, which shows that the country has a demonstrated need for.
With Quality of Life...Insurance, we're changing the way Americans think about, purchase, and use life insurance. American General Life and Accident Insurance is committed to providing research-based, consumer-focused products to our customers, and Quality of Life...Insurance policies are proving to be a welcome change from the norm.