Index universal life insurance offers flexible
protection, potential cash value growth
American International Group (NYSE: AIG) today announced a
streamlined portfolio of index universal life (IUL) insurance
products along with new educational resources for financial
professionals and their clients. The two new IUL policies, Max
Accumulator+ and Value+ Protector, both issued by American General
Life Insurance Company (AGL), offer flexible death benefit
protection, the potential to grow cash value with guaranteed floors
to protect against loss in down markets, and multiple customization
options to meet evolving individual and small-business needs.
“We’ve enhanced our IUL insurance product portfolio and made
other strategic improvements to better serve financial
professionals and their clients,” said John Deremo, Chief
Distribution Officer, Life Insurance, AIG Financial Distributors.
“Our streamlined IUL portfolio is designed to provide protection,
long-term wealth accumulation, and the opportunity for future
distributions that can be tax-free when properly structured, based
on current tax law.”
The Max Accumulator+ solution, which incorporates a unique
combination of cash value enhancement features and riders not
currently available in any other single policy, is optimized for
clients who are seeking accumulation and income potential. The
Value+ Protector product, which is designed as an economical
alternative to a guaranteed universal life (GUL) insurance policy,
is focused on guaranteed protection while also offering the
potential to grow cash value1.
Key attributes of the Max Accumulator+ IUL insurance policy
include:
- the potential for long-term cash value
accumulation, including through possible interest from index
interest accounts and a guaranteed crediting bonus available via
account value enhancement (in policy year six and later),
- a volatility stability strategy tied to
a hybrid index that’s currently exclusive to AGL and that seeks
more stable returns by dynamically adjusting exposure among
equities, fixed income and cash,
- access to cash value through multiple
options to optimize income distribution,
- an available Income for Life rider, an
innovative feature that offers guaranteed lifetime income with
optional annual adjustments for cost of living increases, and
- security for beneficiaries, with a
tax-free, lump-sum death benefit payment or the option to select a
guaranteed income stream for them that will grow at a fixed
interest rate.
The launch of Max Accumulator+ is being supported by the debut
of Life To The Max (www.aig.com/lifetothemax), an interactive
online resource for use by financial professionals during client
meetings. The site, which is accessible to consumers as well, with
no user ID or password required, is designed to educate users about
potential challenges to a successful retirement, the role that IUL
products can play in helping overcome the challenges, and key
features of the Max Accumulator+ solution with illustrative
scenarios.
Highlights of Value+ Protector IUL insurance include:
- death benefit protection with extended
guarantees (to age 121) at market-leading rates,
- premiums that may be up to 10 percent
lower than for GUL insurance,
- a built-in feature designed to help
increase the death benefit at no extra cost,
- an available longevity rider (the
Lifestyle Income Solution®), offering the potential for the policy
holder to receive, at age 85 or beyond, guaranteed income that may
be used for any purpose, and
- three available index interest
accounts, including an exclusive volatility control index.
Both the Max Accumulator+ policy and the Value+ Protector
insurance product are available with a newly enhanced living
benefit rider that’s now offered with some other policies available
through AGL: the Accelerated Access Solution®. The optional rider
offers the potential for the policy holder to accelerate a portion
of the life insurance contract’s death benefit when diagnosed with
a chronic illness and when the conditions of the rider have been
met – even if the chronic illness is not expected to be
permanent.
Additionally, both Max Accumulator+ and Value+ Protector offer
an available Select Income Rider, which gives the policy holder the
irrevocable right to convert all or a portion of the life insurance
death benefit to installments for the beneficiaries. This feature,
which decreases policy premiums, may also increase cash value in
the policy.
For more information on the streamlined IUL product portfolio
and additional educational resources available from AIG, visit
http://www.retirestronger.com.
Policies issued by American General Life Insurance Company
(AGL), Policy Form Numbers 15646, ICC15-15646, 16760, ICC16-16760;
Rider Form Numbers 07620, 13600, 13601, ICC13-13601, 14002,
ICC14-14002, 14306, 15271, ICC15-15271, 15272, ICC15-15272, 15273,
ICC15-15273, 15274, ICC15-15274, 15600, ICC15-15600, 15972, 15992,
ICC15-15992, 15994, ICC15-15994, 15996, 15997, ICC15-15997, 16110,
ICC16-16110, 82012, 82410 and 88390. AGL is responsible for
financial obligations of insurance products and is a member of
American International Group, Inc. (AIG). Guarantees are backed by
the claims-paying ability of AGL. AGL does not solicit business in
the state of New York. Products may not be available in all states
and product features may vary by state. There may be a charge for
each rider selected. See the rider for details regarding the
benefit descriptions, limitations and exclusions. Riders are not
available in all states. Please consult your financial professional
or review the policy and outline of coverage for your state.
This information is general in nature and may be subject to
change. The Company, its financial professionals and other
representatives are not authorized to give legal, tax or accounting
advice. Applicable laws and regulations are complex and subject to
change. Any tax statements in this material are not intended to
suggest the avoidance of U.S. federal, state or local tax
penalties. For advice concerning your situation, consult your
professional attorney, tax advisor or accountant.
American International Group, Inc. (AIG) is a leading global
insurance organization. Founded in 1919, today we provide a wide
range of property casualty insurance, life insurance, retirement
products, mortgage insurance and other financial services to
customers in more than 100 countries and jurisdictions. Our diverse
offerings include products and services that help businesses and
individuals protect their assets, manage risks and provide for
retirement security. 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 and
www.aig.com/strategyupdate | YouTube: www.youtube.com/aig |
Twitter: @AIGinsurance | LinkedIn:
http://www.linkedin.com/company/aig. These references with
additional information about AIG have been provided as a
convenience, and the information contained on such websites is not
incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty,
life and retirement, and general insurance operations of American
International Group, Inc. For additional information, please visit
our website at www.aig.com. All products and services are written
or provided by subsidiaries or affiliates of American International
Group, Inc. Products or services may not be available in all
countries, and coverage is subject to actual policy language.
Non-insurance products and services may be provided by independent
third parties. Certain property-casualty coverages may be provided
by a surplus lines insurer. Surplus lines insurers do not generally
participate in state guaranty funds, and insureds are therefore not
protected by such funds.
1 All guarantees are backed by the claims-paying ability of
American General Life Insurance Company.
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version on businesswire.com: http://www.businesswire.com/news/home/20160511005752/en/
American International GroupStasa Cushman (Media),
713-831-6414stasa.cushman@aig.com
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