AIG Announces Elite Index II ®
March 31 2014 - 9:00AM
Business Wire
New Product Offers Universal Option to Accelerate Death
Benefits
American International Group, Inc. (NYSE: AIG) today announced
the launch of Elite Index II® cost-effective universal life
insurance with simplified guarantees, an optional chronic illness
accelerated benefit rider, increased cap rates (now at 13 percent),
and higher participation rates (now at 70 percent), which provide
greater opportunity for growth in a well-performing market.
Elite Index II is offered with the Accelerated Access
SolutionSM, an innovative rider that provides policy holders the
option to accelerate the death benefit, income tax free (based on
current tax laws), in the event of a chronic illness if all
applicable criteria are met.
“We’ve designed Elite Index II to be not only a smart choice for
our distribution partners to sell, but also a smart solution for
many consumers to buy, as it offers upside potential and downside
protection,” said James A. Mallon, President, Life Insurance, AIG
Global Consumer Insurance. “Elite Index II offers an affordable
death benefit and a simplified no-lapse guarantee for 20 years or
until age 80, whichever comes first, as well as the potential for
growth in policy value and the ability for clients to access the
funds while still living. It is life insurance you don’t have to
die to use.”
With Elite Index II, clients can choose from among three
interest-crediting accounts to fit individual needs:
- A declared interest account with a 2
percent guaranteed minimum annual interest rate.
- A choice between two index interest
accounts with interest crediting linked to the S&P 500® with a
minimum annual guaranteed interest rate of 0.25 percent, regardless
of index performance. These index accounts provide the potential
for higher crediting interest rates when the index is up and the
safety of a minimum guaranteed interest rate.
- Further flexibility is provided through
a Choice Loan option, which allows Elite Index II policy holders to
access their funds, but also have the loan collateral eligible for
index interest.
For more details on the features, customization options, and
benefits of Elite Index II — life insurance that clients don’t have
to die to use — visit www.RetireStronger.com.
1 The S&P 500 (the “Index”) is a product of S&P Dow
Jones Indices LLC or its affiliates (“SPDJI”) and has been licensed
for use by AGL. Standard & Poor’s® and S&P® are registered
trademarks of Standard & Poor’s Financial Services LLC
(“S&P”). These trademarks have been licensed to SPDJI and
sublicensed for certain purposes to AGL. Elite Index II is not
sponsored, endorsed, sold or promoted by SPDJI, S&P, or their
respective affiliates, and none of such parties make any
representation regarding the advisability of paying premiums for
Elite Index II nor do they have any liability for any errors,
omissions, or interruptions of the Index.
Policies issued by American General Life Insurance Company
(AGL). Issuing company AGL is responsible for financial obligations
of insurance products and is a subsidiary of American International
Group, Inc. (AIG). Guarantees are backed by the claims-paying
ability of AGL. May not be available in all states and product
features may vary by state. Policy Form Number 13717; Policy Form
Number 13717N; Accelerated Access Solution (Chronic Illness
Accelerated Death Benefit Rider) Policy Form Number 13600.
American International Group, Inc. (AIG) is a leading
international insurance organization serving customers in more than
130 countries. AIG companies serve commercial, institutional, and
individual customers through one of the most extensive worldwide
property-casualty networks of any insurer. In addition, AIG
companies are leading providers of life insurance and retirement
services in the United States. Products or services may not be
available in all countries, and coverage is subject to actual
policy language. AIG common stock is listed on the New York Stock
Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com |
YouTube: www.youtube.com/aig |Twitter: @aiginsurance | LinkedIn:
www.linkedin.com/company/aig |
AIG Life and RetirementStasa Cushman,
713-831-6414stasa.cushman@aig.comwww.aig.com
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