|AIG AMERICAN GENERAL ANNOUNCES ANNUITY ENHANCEMENT THAT ADJUSTS INCOME PAYMENTS WITH INFLATION|
HOUSTON--Feb. 7, 2007--American General Life Insurance Company (American General Life) and The United States Life Insurance Company (United States Life), member companies of American International Group, Inc. (AIG), have enhanced their Platinum Income Annuity(SM) with a new feature to help consumers offset the effects of inflation. The Platinum Income Annuity, an immediate fixed-income annuity product, now includes the option of annually adjusted income payments based on changes in the Consumer Price Index (CPI)(1).
"What you could buy with one dollar 20 years ago now costs almost twice as much," said Michael Harrison, Vice President of Annuity Marketing for AIG American General. "Inflation limits retirees' spending power and causes them to spend their assets more rapidly. With this inflation-adjustment feature, the Platinum Income Annuity payouts can change as the economic environment changes, which is a great relief to individuals with limited assets and income."
In addition to the new inflation protection option, other key features of the Platinum Income Annuity include:
"The Platinum Income Annuity may fit nicely into a client's overall retirement picture, as it can be used to help cover retirees' recurring expenses," said Harrison. "Plus, it helps clients address the challenge of not outliving their assets by providing the choice of a guaranteed(2) stream of income for life - something that only annuities can offer."
For more information on Platinum Income Annuity, send an e-mail to AnnuityMarketing@aigag.com.
These product specifications are not intended to be all-inclusive of product information. State variations may apply. Please refer to the annuity contract for complete details.
Annuities issued by:
Annuity Form Number 01016
The United States Life Insurance Company in the City of New York
Annuity Form Number 01016N
The underwriting risks, financial obligations and support functions associated with the products issued by American General Life Insurance Company (American General Life) or The United States Life Insurance Company in the City of New York (United States Life) are its responsibility. American General Life and the United States Life are responsible for their own financial condition and contractual obligations.
American General Life does not solicit business in the state of New York. Annuities and riders not available in all states.
This contract is not insured by the FDIC, the Federal Reserve Board or any similar agency. The contract is not a deposit or other obligation of, nor is it guaranteed or endorsed by, any bank or depository institution.
AIG American General is the marketing name for the companies comprising the domestic life operations of American International Group, Inc. (AIG), including American General Life and United States Life. AIG American General companies offer a broad spectrum of life insurance, annuity, investment and accident and health products to serve the financial and estate planning needs of its customers throughout the United States.
American International Group, Inc., 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.
(1) Not available in all states. Charges may apply.
(2) Guarantees are subject to the claims-paying ability of the issuing insurance company.