What Kind of Policies Does American Group Insurance Issue?


Quick Answer

American Group Insurance issues travel insurance, life insurance, and final expense policies, states the company's website. It also issues plans for Medicare supplements, annuities, long term care, critical illnesses, occupational accidents, and disability income.

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Full Answer

Travel insurance policies are useful for families on vacation, students travelling abroad, and businesspeople travelling outside the country for work, states American Group Insurance. Some life insurance policies pay only if the policyholder dies during the policy term, whereas others pay whenever the policyholder dies. Final expense policies are similar to life insurance policies, but also include burial costs. Medicare supplements help cover the costs of deductibles, co-pays, physician's expenses, and outpatient treatments not covered by Medicare.

An annuity is a fixed sum of money paid to someone each year, typically for the rest of his life. Long-term care plans create solutions, such as quality medical care at home, for people with long-term illnesses. Critical illness plans help policyholders avoid bankruptcy in the event of serious illness. Critical illness insurance offers a 100-percent payout to policy holders upon diagnosis of certain conditions. Disability insurance policies functions similarly to critical illness policies. If the policyholder becomes disabled, he receives a payment. Occupational accident plans are available to Texas customers only, as of 2015.

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