Index universal life insurance offers flexible protection, potential
cash value growth
HOUSTON--(BUSINESS WIRE)--May 11, 2016--
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
“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
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
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
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
| 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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Source: American International Group
American International Group
Stasa Cushman (Media), 713-831-6414