AIG Subsidiary Expands Its Distribution of Index Annuities
American International Group, Inc. (NYSE: AIG) is pleased to
announce the recent partnering of its subsidiary American General
Life Insurance Company (AGL) with Primerica, the largest
independent financial services marketing organization in North
America, to introduce the Power Series of Index Annuities®.
The Power Advantage 7℠ and Power Advantage 10℠ Index Annuities,
tailored exclusively for Primerica and issued by AGL, combine
principal protection, growth potential and tax deferral. They also
provide lifetime income that can be guaranteed to rise for up to 10
contract years through the Lifetime Income Plus® guaranteed living
benefit rider.
“For nearly 40 years, Primerica has been helping middle income
families throughout North America earn more income, better protect
their assets and gain financial independence,” said Maureen
Conlin-Chrysoulakis, Senior Vice President and National Sales
Manager, AIG Financial Distributors. “At AIG, we have similar goals
and objectives. By working together to provide customized income
solutions, we believe we can help more Americans become financially
independent and secure in their retirement.”
“With more than 98,000 licensed insurance reps nationwide,”
continued Conlin-Chrysoulakis, “partnering with Primerica will
allow us to offer principal protection, growth potential and
guaranteed lifetime income to clients whom we’ve had limited access
to in the past. These are all important benefits that can be
provided through our Power Advantage 7 and Power Advantage 10
products.”
“We continue to broaden the investment and savings solutions we
offer to our clients,” said Glenn Williams, incoming CEO of
Primerica. “We’re very excited to work with AIG to expand our index
annuity offerings and to help grow and protect our clients’
assets.”
For asset accumulation, the Power Advantage 7 and Power
Advantage 10 Index Annuities offer a range of index interest
crediting strategies and a fixed interest account. Through the
Lifetime Income Plus optional guaranteed living benefit rider,
available for an annual fee, these annuities also provide lifetime
income that is guaranteed to rise for up to 10 contract years, as
long as withdrawals are taken according to the rider’s terms. In
addition, individuals have the opportunity to double their
retirement income potential under the rider if no withdrawals are
taken before the 10th contract anniversary. Guarantees are backed
by the claims-paying ability of AGL.
“With continuing concerns about low interest rates and market
volatility, many individuals are looking for products that can help
protect their principal, while ensuring that their retirement
income will rise and last for life,” said Mike Treske, Executive
Vice President and Chief Distribution Officer, AIG Financial
Distributors. “The Power Advantage Index Annuities and our new
relationship with Primerica can help us address these needs and
keep us on track with meeting our goal of being the premier
provider of protection, investment and income solutions in the
country today.”
Annuities are issued by American General Life Insurance
Company (AGL),2727-A Allen Parkway, Houston, Texas 77019.
Contract Numbers: Power Advantage 7 and Power Advantage 10
Modified Single Premium Deferred Fixed Index Annuities, Contract
Numbers AG-800 (12/12) and AG-801 (12/12).
Rider Form Numbers: Market Value Adjustment (MVA) Rider, Form
Number AGE-8000 (12/12); Premium Enhancement Rider, Form Number
AGE-8001 (12/12); Lifetime Income Plus Optional Guaranteed Living
Benefit Rider, Form Number AGE-8002 (9/13); Annual Point-to-Point
Index Interest Account Rider, Form Number AGE-8003 (12/12); Monthly
Point-to-Point Additive Index Interest Account Rider, Form Number
AGE-8005 (12/12); Terminal Illness Rider, Form Number AGE-8007
(12/12); Extended Care Rider, Form Number AGE-8008 (12/12);
Activities of Daily Living Rider, Form Number AGE-8009 (12/12); and
Periodic Average Index Interest Account Rider, Form Number AGE-8024
(9/13).
The underwriting risks, financial and contractual obligations
and support functions associated with products issued by American
General Life Insurance Company (AGL) are its responsibility. AGL
does not solicit business in the state of New York. Product and
features may not be available in all states and may vary by
state.
Index annuities are not a direct investment in the stock market.
They are long-term insurance products with guarantees backed by the
claims-paying ability of the issuing insurance company. They
provide the potential for interest to be credited based in part on
the performance of the specified index, without the risk of loss of
premium due to market downturns or fluctuations. Index annuities
may not be suitable or appropriate for all individuals.
Withdrawals may be subject to withdrawal charges. Withdrawals
may also be subject to federal and/or state income taxes. An
additional 10% federal tax may apply if individuals make
withdrawals or surrender their annuity before age 59½.
Lifetime Income Plus is an optional guaranteed living benefit
rider available with Power Advantage 7 and Power Advantage 10 for
an annual fee of 0.95% of the Income Base. The rider fee may differ
by state. The Income Base is the value on which guaranteed
withdrawals are based; it is not used in the calculation of the
contract value or any other benefits under the contract, and cannot
be withdrawn partially or in a lump sum.
AIG Consumer Insurance represents a group of companies offering
insurance, retirement and investment services. AIG Consumer
Insurance and AGL are part of the American International Group,
Inc. (AIG) family of financial services companies. Not all products
are available in all firms.
American International Group, Inc. (AIG) is a leading global
insurance organization serving customers in more than 100 countries
and jurisdictions. 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. 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: @AIG_LatestNews | LinkedIn:
http://www.linkedin.com/company/aig
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.
Not FDIC or
NCUA/NCUSIF InsuredMay Lose Value • No Bank or Credit
Union GuaranteeNot a Deposit • Not Insured by any Federal
Government Agency
I5446PR1 (4/15)
American International Group, Inc.Linda Malamut,
310-772-6533linda.malamut@aig.com
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