Current and future policyholders are not in danger. Whatever uncertainty there was in the marketplace surrounding their parent company has now stabilized.
Wheeling, IL (PRWEB) September 18, 2008
AccuQuote, a leader in providing term life insurance quotes to people across the United States, advises life insurance policyholders on what to expect as a result of as a result of the Federal Reserve's bridge loan to American International Group's (AIG) for $85 billion, which will provide additional security to insure that the parent AIG has the resources to meet the long-term obligations of its policyholders.
"If you hold a life insurance policy or are considering purchasing one from American General Life Insurance Company or US Life of NY (both AIG subsidiaries), you rightfully had some questions or concerns over the past few days," says Byron Udell, founder and CEO of AccuQuote. "Current and future policyholders are not in danger. Whatever uncertainty there was in the marketplace surrounding their parent company has now stabilized."
In light of the recent developments with the Federal Reserve, Udell recommends the following news articles which 'do a good job assessing the situation' for policyholders:
- Kiplingers - What the AIG Bailout Means for You (Sept. 17)
- Bankrate - Got an AIG policy? Don't worry! (Sept. 17)
- Wall Street Journal - Protection for AIG customers (Sept. 16)
- SmartMoney.com - AIG's Fallout - What Policyholders Can Expect (Sept. 16)
- Reuters - Factbox - Potential Outcomes for AIG Policyholders (Sept. 16)
- NAIC - Insurance Consumers Protected By Solvency Standards (Sept. 16)
"American General Life is solvent and profitable, and has more than adequate financial reserves to pay claims from people who hold its annuities and life insurance policies," says Udell. "Experts suggest, and I whole-heartedly agree, that bailing out of an AIG annuity or life insurance policy may offer psychological comfort, but may not make financial sense."
About AccuQuote (http://www.accuquote.com)
AccuQuote helps consumers find the best values in term life insurance by combining instant online quotes with the personal service of unbiased life insurance professionals that can help answer questions, identify important issues, and make meaningful recommendations. The company offers consumers an extensive selection of life insurance options, including term life, whole life, and universal life, as well as selected annuities. The website has many handy insurance tools, including a life insurance needs calculator to help you figure out how much to buy, a glossary that explains industry terminology, a collection of articles that cover the basics about life insurance, and a blog which answer many questions about life insurance. For additional information or to get quotes for cheap term life insurance, please call 1-888-314-4455.