AIG Announces Streamlined IUL Portfolio and New Educational Tools
Index universal life insurance offers flexible protection, potential cash value growth
“We’ve enhanced our IUL insurance product portfolio and made other
strategic improvements to better serve financial professionals and their
clients,” said
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 distribution,
- 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 market-leading rates,
- 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 extra cost,
- 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
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.
Additional information about AIG can be found at www.aig.com
and www.aig.com/strategyupdate
|
AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of
1 All guarantees are backed by the claims-paying ability of
View source version on businesswire.com: http://www.businesswire.com/news/home/20160511005752/en/
Source:
American International Group
Stasa Cushman (Media), 713-831-6414
stasa.cushman@aig.com