Quality of Life…Insurance® offers protection,
accumulation potential and optionality
HOUSTON--(BUSINESS WIRE)--Aug. 18, 2014--
American International Group, Inc. (NYSE: AIG) today announced the
launch of QoL Performer PlusSM, affordable universal life
insurance that can provide a guaranteed death benefit up to age 80. The
product also offers the opportunity for cash accumulation, as well as
the Quality
of Life…Insurance accelerated benefit solution that can make
available needed cash if the policy holder suffers a qualifying illness
or condition.
“QoL Performer Plus could be the first policy clients buy or the last,
because it is designed to help serve and protect Americans and their
families, no matter what the future brings,” said James A. Mallon,
President, Life Insurance, AIG Global Consumer Insurance. “We’ve
structured this product in consideration of consumers who are just
embarking on their financial journeys and need a product that can
efficiently adapt to changing needs throughout a lifetime, as well as
clients at middle age and beyond who appreciate guarantees, flexibility
and the opportunity to grow and access cash value for supplemental
retirement income or any other purpose.”
John Deremo, Executive Vice President and Chief Distribution Officer,
Life Insurance, AIG Financial Distributors, said of the products,
“Performer Plus can pay a portion of the base life insurance benefit if
the insured has a major heart attack, stroke, cancer or other qualifying
illness or condition, at no additional premium cost to the policy
holder. Clients can use the money to help cover the costs of treatment,
help recoup lost income, or help with other needs. It’s life insurance
you don’t have to die to use.”
The QoL Performer Plus policy pays currently competitive interest, with
guaranteed minimum interest crediting of 4 percent for the first five
years and 2.25 percent thereafter. Furthermore, with QoL Performer Plus,
policy holders have the potential to:
-
Change their coverage amount. After one year, a client can apply to
increase his or her coverage amount. If a client purchases an optional
rider, he or she has the guaranteed ability, at certain ages and life
events, to buy additional coverage. Clients can also decrease the
coverage amount (although surrender charges may apply).
-
Add term life coverage for their spouse. Fee and volume discounts can
help make this coverage affordable.
-
Add term life coverage for any purpose and for certain durations of 10
years or 15 - 35 years, subject to policy terms and conditions, to
help cover, for example, the cost of remaining years in a mortgage or
to help protect the cost of a college education for children.
-
Put extra dollars to work. During the first five policy years, premium
that the policy holder pays, over and above the cumulative monthly
benchmark premium, is placed as a protected value where it is
available during that time by means of surrender or loan, subject to
policy terms and conditions. Whether the money is being accumulated
for a short-term purpose or long-term goal, this may be an appropriate
liquidity solution for certain clients.
-
Build supplemental retirement income. Regularly funding one’s QoL
Performer Plus may help create the potential for significant
additional income for retirement.
For more information on QoL Performer Plus – life insurance you don’t
have to die to use – and for important consumer disclosures concerning
accelerated death benefits, visit www.qualityoflifeinsurance.com.
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.
Policies issued by American General Life Insurance Company (AGL).
Issuing company 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. May
not be available in all states and product features may vary by state.
Policy Form Numbers ICC14-14579, 14579, ICC10 AGLA ABR, AGLA ABR,
ICC14-14012,14012 ICC14-14018, 14018, ICC14-14390, 14390, AGLA 05AHC,
AGLA EMD-DB, ICC14-14002, 14002, 14306 and state variations.
American International Group, Inc. (AIG) is a leading international
insurance organization serving customers in more than 130 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
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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
stasa.cushman@aig.com