Apr 19, 2015

Group 50+ Term Life Insurance Highlights

$10,000 to $100,000 group term life insurance to help eligible AIChE® members avoid burdening loved ones with their eventual end-of-life expenses.

Learn more about Eligibility, Plan Details, Coverage Limits and Rates, and Frequently Asked Questions.

Many families underestimate the many out-of-pocket medical, funeral, burial or cremation, and other expenses associated with the death of a loved one. A traditional funeral alone can cost around $6,000, and many run well over $10,000.1 Meantime, the current maximum Social Security benefit to help cover these expenses is only $255.2

As an AIChE® member in good standing, you and your lawful spouse, age 50-74, are eligible to apply for up to $100,000 coverage at special group rates. Upon your death, your beneficiaries will receive a cash settlement that they can use to help pay final medical bills, funeral costs and other end-of-life expenses. If arrangements have already been made to fulfill these financial obligations, this policy can also be designated as a gift for a special family member, or you can name your favorite charity as the beneficiary and leave a generous legacy to benefit future generations.

1 U.S. Federal Trade Commission, Funerals: A Consumer Guide, www.ftc.gov, retrieved 10/2013
2 U.S. Social Security Administration Website, www.ssa.gov, 10/2013

There may never be a better time than right now to purchase this important insurance protection. Highlights of this plan include:

Choice of Benefit Amounts
Choose the benefit amount that best suits your needs between $10,000 and $100,000 in $10,000 increments.
Economical Group Rates
Special group rates are available exclusively for AIChE members and their spouses.
Guaranteed Renewable Coverage
Renew your coverage until age 95, regardless of any changes in your health.

No Medical Exam Generally Required1

Applying is easy. Just print and fill out your application. Typically no medical exam required.

Living Benefits

If you're diagnosed with a terminal illness,2 you may be eligible to receive a portion of your benefit while living to help cover expenses during such a difficult time.

30-Day Free Look Period

Examine your Certificate of Insurance—risk free—for 30 days. 


1 In most cases, the answers to a few brief health questions on the application are sufficient for underwriting; issuance of a Certificate of Insurance or payment of benefits may depend upon the answers you provide and the truthfulness thereof. Pre-existing conditions limitations may apply.

2 The accelerated death benefit is activated after your coverage has been in force for 30 days (no waiting period applies in NY); is subject to state variations, limitations and exclusions; and may be taxable. Review your Certificate of Insurance for details and consult a tax advisor regarding potential tax consequences.


The companies behind the plan

This plan is underwritten by American General Life Insurance Company, a member of American International Group (AIG), NAIC No. 60488, domiciled in the state of Texas with a principal place of business of 2727-A Allen Parkway, Houston, TX 77019. It is currently authorized to transact business in all states plus DC and PR, except NY.

In New York, this plan is underwritten by The United States Life Insurance Company in the City of New York, a member of American International Group (AIG), NAIC No. 70106, domiciled in the state of New York with a principal place of business of One World Financial Center, 200 Liberty Street, New York, NY 10281. It is currently authorized to transact business in all states plus DC, except PR.

The most prominent independent ratings agencies continue to recognize American General Life Insurance Company and The United States Life Insurance Company in the City of New York in terms of insurer financial strength. For current insurer financial strength ratings, please consult the Web site at www.americangeneral.com/ratings.