AIG’s Exit from International Life Insurance: Capital for Life Offers Transamerica Solutions

AIG’s Withdrawal from International Life Insurance

In a significant shift, AIG has announced that almost all AIG term life insurance and AIG whole life insurance products will close to new business. This decision leaves many AIG intermediaries and high-net-worth (HNW) clients searching for alternative solutions in the international high-value life insurance market. However, at Capital for Life, we are well-prepared to fill the gap left by AIG’s withdrawal. Through our partnerships with leading global insurers such as Transamerica (Aegon), we continue to offer bespoke high-value term and whole life insurance products designed specifically for HNW clients.

Transamerica: An Alternative for High-Value Life Insurance

As one of the largest global life insurers, Transamerica provides exceptional financial strength and product offerings. Through Capital for Life, clients can now access Transamerica’s high-value life insurance solutions, including term life insurance policies with coverage up to US $100 million, available to individuals as old as 80, 90, or even 100. This ensures that clients can secure long-term financial protection tailored to their specific needs, regardless of their age or financial complexity.

Key highlights of Transamerica (Aegon) include:

• US $890 billion in assets under management and administration (2023)
• Life insurance reserves totaling $289 billion (2023)
• 'A+' financial strength rating from Standard & Poor’s
• A Solvency II ratio of 205% at the end of 2023, demonstrating a strong capital position
• US $60 billion in claims, benefits, and retirement plan withdrawals paid out in 2022

These figures underscore Transamerica’s status as one of the most reliable and financially sound life insurers in the world, making it an ideal alternative to AIG term life insurance and AIG whole life insurance.

Capital for Life: Supporting Financial Advisers and High-Net-Worth Clients

At Capital for Life, we specialise in providing custom life insurance solutions for HNW clients. We offer a wide range of products from several of the world’s largest insurers, including Transamerica, ensuring that our clients' financial protection needs are met. Whether you’re looking to safeguard your estate, transfer wealth, or secure your financial legacy, we have the expertise and global reach to tailor a solution that fits.

We also work closely with financial advisers who are looking to offer high-value life insurance solutions to their clients. AIG intermediaries seeking alternatives for their clients can establish terms of business with Capital for Life, provided they meet certain criteria. This partnership allows advisers to continue serving their clients with the best possible products, even as AIG Life exits the market.

Countries Where Transamerica Can Serve HNW Clients

Transamerica, through Capital for Life, offers coverage in numerous countries across the globe. Below is a list of countries, organised by continent, where clients can access Transamerica’s life insurance products:

Act Now: Secure High-Value Term and Whole Life Insurance

The AIG Life exit from the high-value life insurance market presents a pivotal moment to review your coverage. At Capital for Life, we offer a comprehensive range of high-value term life insurance and whole life insurance solutions through Transamerica and other top global insurers. This is an ideal time to secure bespoke financial protection, with coverage options tailored specifically to the needs of HNW individuals.

Our ability to provide up to $100 million in term coverage, even for clients up to the ages of 80, 90, or 100, ensures that you can protect your wealth and legacy for generations to come. Don’t let the closure of AIG term life insurance products leave you without the financial protection you need.

Contact Capital for Life today to explore how we can tailor the right high-value life insurance solutions for you and your family, or discuss terms of business for financial advisers seeking the best options for their clients.

In conclusion, while AIG Life may be closing its doors to new business, Capital for Life continues to offer world-class alternatives. Through our partnership with Transamerica, one of the most reliable and financially stable life insurers in the world, we provide bespoke life insurance solutions for HNW clients and financial advisers who serve them. Let us help you secure the protection you need, today and for the future.

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Frequently Asked Questions (FAQs)

What alternatives are available to AIG term life insurance for high-net-worth clients?‍

High-net-worth clients can explore alternative life insurance products from providers like Transamerica, which offers up to $100 million in term life insurance coverage, as well as whole life policies. Capital for Life works with several of the largest global insurers to provide bespoke life insurance solutions for high-net-worth individuals.

Why is AIG Life withdrawing its term life insurance products?‍

AIG Life is restructuring its product offerings, and as a result, will no longer offer high-value international term life insurance to new clients. This creates a gap in the market, especially for high-net-worth individuals seeking substantial coverage.

Who can I turn to now that AIG Life has exited the term life insurance market?

Capital for Life offers high-value term life and whole life insurance products through strategic partnerships with insurers like Transamerica, ensuring clients have access to coverage up to $100 million.

What is the best alternative to AIG whole life insurance for high-net-worth clients?

Transamerica provides a strong alternative to AIG whole life insurance, with competitive financial strength and flexible whole life policies designed to meet the needs of high-net-worth clients. Capital for Life offers these solutions globally.

How much coverage can I get from alternatives to AIG term life insurance?

‍Transamerica offers up to $100 million in term life insurance coverage, available to clients up to the age of 100. This ensures substantial financial protection for high-net-worth individuals.

What makes Transamerica a good alternative to AIG Life?

‍Transamerica is one of the largest global life insurers, with $890 billion in assets under management and a strong financial rating of ‘A+’ from Standard & Poor’s. Their high-value term and whole life insurance products are tailored to meet the complex needs of high-net-worth individuals.

Can financial advisers still offer high-value life insurance now that AIG has exited?‍

Yes, financial advisers can work with Capital for Life to offer alternatives to AIG’s life insurance products, including high-value term and whole life policies from providers like Transamerica. Terms of business can be established with Capital for Life for qualifying advisers.