HOUSTON--(BUSINESS WIRE)--Feb. 4, 2014--
American International Group, Inc. (NYSE:AIG) today announced the launch
of AG Asset ProtectorSM, a suite of riders for a life product
that provides financial security to customers. AG Asset Protector
consists of two innovative riders that allow policy holders to access
their death benefit while they are still living: the Accelerated Access
SolutionSM in the event of a chronic illness, and the
Lifestyle Income SolutionSM that offers customers more
financial control during uncertain economic times and affordable
protection against outliving retirement income.
“AIG is transforming the way people think about life insurance,” said
James A. Mallon, President, Life Insurance, AIG Global Consumer
Insurance. “Think of our new AG Asset Protector as ‘life insurance you
don’t have to die to use.’ This innovative protection solution
complements our diverse portfolio of offerings, and makes it possible
for consumers to use life insurance benefits while they are still living
to meet life’s challenges.”
AG Asset Protector is AIG’s latest product in the company’s string of
initiatives to better understand the changing landscape of retirement
and mindset of retirees. A major component of this work includes AIG’s
Retirement Reset Study, an in-depth survey of Americans ages 55 and
older conducted in 2012. The study found that the rising costs of health
care and inflation are among the top concerns of Americans on the brink
of retirement, and also reported that 80% of respondents have
subsequently taken a more cautious approach to their financial situation
The features and benefits offered by AG Asset Protector provide
protection against the excessive costs of dealing with chronic illnesses
and conditions as well as the fear of outliving retirement income,
giving policy holders the option to receive living benefits from their
life insurance policy.
“AG Asset Protector offers unmatched solutions for retirees, and builds
on AIG’s reputation for providing customers with unparalleled financial
security,” said John Deremo, Executive Vice President and Chief
Distribution Officer, Life Insurance, AIG Financial Distributors.
“Americans are living longer, but with increased longevity also comes
concern about financial distress due to illness or a shortfall in
retirement income. AG Asset Protector gives clients peace of mind and
helps protect their dreams so they can focus on their goals to live
longer and retire stronger.”
For more information about AG Asset Protector, visit www.RetireStronger.com.
Policies issued by:
American General Life Insurance Company
Allen Parkway, Houston, Texas 77019
AG Secure Lifetime GUL II form number ICC13-1346; Accelerated Access
Solution Rider (Chronic Illness Accelerated Death Benefit Rider) form
numbers 13600, 13601, ICC13-13600; Lifestyle Income Rider (Guaranteed
Withdrawal Benefit Rider) form number 13972.
American General Life Insurance Company (AGL) is a subsidiary of
American International Group, Inc. (AIG).
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. 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
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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.
Source: American International Group, Inc.
AIG Life and Retirement
Stasa Cushman, 713-831-6414