|A.I. CREDIT CORP. INTRODUCES TERM LOAN RESCUE TO RENEW PREMIUM FINANCING TERMS FOR LIFE INSURANCE POLICIES|
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NEW YORK--April 19, 2006--A.I. Credit Corp., a member company of American International Group, Inc. (AIG), today announced it has enhanced its Loan for Life(SM) program, a mechanism used to finance existing life insurance premiums, to include policies previously financed by term lenders.
The new program, named Term Loan Rescue, allows life insurance producers who have sold life policies using a term premium finance loan to offer favorable renewal terms through A.I. Credit for their clients. Term Loan Rescue allows policyholders to maintain their current life insurance policy instead of selling it in the life settlement market and losing the insurance benefit, or if the client's current lender does not renew the loan, writing a check may have financial or gifting ramifications.
"We expect that a number of traditional and non-recourse premium finance loans that were administered over the past 10 years will be coming due in the near future," said Tom Yaeger, Executive Vice President of A.I. Credit Corp. " Refinancing with A.I. Credit allows clients to avoid unplanned financial and gifting consequences, while maintaining the value of their life insurance."
For more information about A.I. Credit's new premium finance Term Loan Rescue program and its value for your clients, please contact Mark Storms, Manager of Business Development, A.I. Credit Corp., by calling 201-631-5512 or e-mail firstname.lastname@example.org.
A.I. Credit Corp., a member company of American International Group, Inc. (AIG), is the largest premium financing company in North America and offers the experience of the country's oldest premium financing program. A.I. Credit is the leader in developing innovative lending products and strategies designed to help high net worth clients leverage their assets to obtain the life insurance they need. With A.I. Credit's help, individuals can provide for future generations and fund other legacy choices while still preserving their assets for current and future investment opportunities.
American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed in the U.S. on the New York Stock Exchange as well as the stock exchanges in London, Paris, Switzerland and Tokyo.