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How to Buy Life Insurance

What are whole-life policies?

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Bob Ley with AIG
Vice-President of Sales with AIG American General, AIG
Term Life Insurance  

American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions.  AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer.  In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world.  AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.

What are whole-life policies?

In this video, Bob Ley from insurance company AIG discusses the many issues surrounding how to select and purchase life insurance.

This expert: 55,077 views

This series: 55,076 views

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Host: What are Whole Life policies?

Bob Ley: Whole Life policies are a type of permanent insurance which combines life insurance with a cash value fund. Here you are buying a policy that pays a stated fixed amount on your debt and part of your premium goes towards building cash value. Based on current Federal Income Tax Law, cash value builds tax deferred each year that you keep the policy and you can borrow against the cash accumulation fund without being taxed. The amount you usually pay doesnt change through out the life of the policy.

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