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HostaStock, AIG has been in the works of selling the most profitable section of their division AGLA ,They wrote 100,000 new policies the last few years for a total of $13 billion worth of coverage. I have seen word that PRUdential is looking into it as well. Not sure I havent traded this for a few weeks because it has been running sideways now for a while but I do agree with you that now would be the time to stockpile some shares for long term as well .. Trading volume has really been down this week so interest is slowing until news of selling or something gets it on the run again..
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AIG American General unveils new variable universal life product Thursday 10/23/2008 6:15 AM ET - Datamonitor
Related Companies Symbol Last %Chg AIG 2.13 0.95%
As of 12:59 PM ET 10/23/08 AIG American General has announced the launch of AIG Income Advantage Select, a product issued by American General Life Insurance Company and The US Life Insurance Company in the City of New York, subsidiaries of American International Group.
The company said that the product offers death benefit guarantees, an outstanding cash value accumulation opportunity and a superior selection of 47 professionally managed investment options, all at new, more competitive prices than existing American General Life Insurance (AGL) and The US Life Insurance Company in the City of New York (USL) variable universal life policies.
According to AIG, among the latest product enhancements is a 15% to 40% increase in death benefits, for maximum funded cases, in the age group of 35-60 year olds. In addition, clients have the potential to generate larger income streams as compared to AGL AIG Income Advantage VUL and to USL Platinum Investor VIP. Other changes include a new underwriting class, standard plus non-tobacco, and the enhanced early cash value term rider.
Tim Heslin, vice president and variable universal life business leader for AIG American General, said: "All owners have specific needs based on their individual circumstances. The flexible design of AIG Income Advantage Select enables owners to create truly customized protection for their families or small businesses with the confidence that comes with life insurance protection and the wealth-building potential of top investment option choices."
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It'll take a while..I'm guessing atleast 6 months to a couple of years....but I'm almost 100% AIG will be fine. Won't be 60-100 bucks a share, but at 2 bucks a share and them hopefully selling a lot of their assets soon we will be able to see a steady increase in their stock price. The media is really killing this company with false statements and I know this because I have a family member who has worked for the company for 35+ years now and have a few friends who work for the them as well. If anybody wants to see some interesting emails the CEO has sent out discussing some of these false statements send me a PM and no this is not insider information, it is just the emails he has sent out to people like Jim Cramer and Cummings explaining what EXACTLY happened instead of all of these made up rumors. I personally have an investment plan where I put close to 100 bucks a week into the company and I'm averaged in at 2.08 a share
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Well I thought she was going to start coming back until they asked for even more money. Why pay back money then turn around and borrow more?
In the long run I think they will be ok, this is one of the largest cash flow companies in the world they just need to manage themselves better.
At 2.01 I still think its a great buy and should make it back to 30 to 40 by end 2009. Thats if the US doesn't have a complete and total melt down in the market this week. Then worry about buying food.
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