Old Squid on a Blade
Join Date: Apr 2002
Sportbike: 2000 929
Years Riding: Longer than most of you have been alive. And I'm still slow.
How you found us: The voices in my head told me to come here
AIG is one of our companies so I've been having this conversation alot over the last few days. Fortunately, they are not a "Platinum" level carrier, but in the top dozen. Without going too far, I've never bee too wild about them. My West coast partners sold more of them. It depends on the type of policy and your level of concern. In the short run you should be fine, but even after $85B if everyone gets it in their head that they want the cash out of their policies bad things can happen. In the long run, the hit to their reputation and the additional debt load may hurt the performance of your policy. Recently, they have been stressing term insurance. Since there is no equity in those products they should be stable. If you have term, it might be worth looking at just to see if there are better options. You don't want to be in a position where you need to convert to an AIG permanent product if you have a change in health. If you have UL with cash accumulation or a deferred annuity it is clearly worth looking at.
Odds are that at some point the life and annuity companies will be bought by another company. It may be a good fit for Manulife / John Hancock. I know they are still looking to expand operations in the US. I wouldn't rule out Aviva or ING either.
Anyway, if you want detailed help you should call your agent. If you want someone that isn't "vested" in your AIG policy shoot me a PM with your #.
There is nothing firm, nothing balanced, nothing durable in all the universe. Nothing remains in its original state, each day, each hour, each moment, there is change. Change is the essence of life. Embrace change as you do life. To fight change is to live in the past.