AIG Helps Launch the Alliance for Lifetime Income to Empower and Educate Consumers and Financial Advisors on the Importance of Having Protected Lifetime Income

June 14, 2018 at 9:01 AM EDT

Alliance for Lifetime Income Represents Unprecedented Collaboration Among 24 Industry Leaders

NEW YORK--(BUSINESS WIRE)--Jun. 14, 2018-- AIG (NYSE:AIG) today announced it is a founding member of the Board of Directors for the Alliance for Lifetime Income (Alliance), a new industry coalition of 24 leading financial services organizations whose goal is to educate Americans about the importance of protected lifetime income solutions and empower them to take action. This initiative aligns with AIG’s longstanding commitment to help people protect the future they envision by further raising awareness of the critical role that protected lifetime income from annuities can play within an individual’s overall retirement portfolio.

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“As a nation, we have vastly expanded 401(k)s and other retirement accumulation vehicles, but have not tackled the looming issue of securing retirement income,” said Jana Greer, President and CEO, Retirement.

“With a long history in the retirement industry, AIG is proud to join this powerful coalition, helping to address what is one of the most critical financial planning issues of our time—helping Americans fund today’s longer retirements with protected income that cannot be outlived,” Greer added. “Today’s longer lifespans are a game-changer—they make running out of money in retirement a serious concern for millions of Americans. That’s why raising national awareness and changing the conversation from saving to retirement income has never been more important.”

AIG and the other Alliance members are combining their energy and resources to educate more Americans and help make protected lifetime income solutions, such as annuities, an important part of the retirement planning dialogue.

“The mission of the Alliance goes beyond that of traditional trade organizations,” Greer said. “It is campaign-oriented and has significant resources that will allow for broad consumer and financial advisor messaging in a unified, educational approach that has not been done before.”

Today the Alliance launches a first of its kind, multi-year campaign centered on the theme “Protect Your Income. Retire Your Risk,” which boldly underscores the importance of protected lifetime income for at least a portion of one’s portfolio to help mitigate the risk of running out of money in retirement.

As the campaign moves forward, the Alliance will offer new thought leadership, research, third-party expert views and tools, including a new educational website for consumers and financial advisors, www.RetireYourRisk.org.

About AIG

American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These 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 www.twitter.com/AIGinsurance | LinkedIn: 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.

About the Alliance for Lifetime Income

The Alliance for Lifetime Income, based in Washington, D.C., is a nonprofit 501(c)(6) organization formed and supported by some of the nation’s leading financial services organizations, to create awareness and educate Americans about the importance of protected lifetime income. The Alliance is focused on helping to educate Americans on the risk of outliving their savings so they can enjoy their retirement lives. The Alliance provides consumers and financial advisors with the educational resources, tools and insights they can use to build plans for protected retirement income. For more information about the Alliance, visit www.AllianceForLifetimeIncome.org.

Source: American International Group, Inc.

American International Group, Inc.
Kenny Juarez (Media), 212-458-8352; kenny.juarez@aig.com
Linda Malamut (Media), 310-772-6533; linda.malamut@aig.com
Knox Witcher (Media), 703-994-4943; witcher@pinkstongroup.com