Assured Edge Income Builder® Offers Investors
Lifetime Income, Opportunity to Increase Future Lifetime Income and
Protection from Market Volatility
NEW YORK--(BUSINESS WIRE)--Nov. 29, 2017--
American International Group, Inc. (NYSE:AIG), announced today the
launch of Assured Edge Income Builder-NY, a new fixed annuity product
issued by The United States Life Insurance Company in the City of New
York. It is the first fixed annuity with a guaranteed lifetime
withdrawal benefit offered in New York. Assured Edge Income Builder
offers clients a low risk, long-term retirement income solution and
guaranteed lifetime income.
“We are delighted to offer the state’s first fixed annuity with a
guaranteed living benefit, providing New York residents with a product
that brings value and customization, as well as security and
flexibility, to their retirement income strategy,” said Bryan Pinsky,
Senior Vice President, Individual Retirement at AIG. “We launched
Assured Edge Income Builder in other states last year and investors have
been drawn to the product’s multi-pronged value proposition.”
Assured Edge Income Builder is intended to offer investors an income
advantage through the following features:
-
Lifetime Income: Clients have the flexibility to elect lifetime
income immediately or in the future, while maintaining access to their
principal. Once lifetime income withdrawals begin, they will continue
even if the contract value is depleted to zero, unless there is an
excess withdrawal.
-
Future income growth: An initial income percentage (used to
calculate the guaranteed lifetime income amount) will automatically
increase by 0.25% annually for up to 15 years – even in years in which
non-lifetime income withdrawals are taken – or until clients elect to
begin lifetime withdrawals … whichever comes first.
-
Principal protection: Investors can protect principal from
market volatility with guaranteed interest rates.
“Investors have really made it clear that they want to maintain access
to retirement assets, have guaranteed income for life, and stabilize
their asset value,” said Michael Treske, EVP and Chief Distribution
Officer, Annuities and Mutual Funds at AIG. “Assured Edge Income Builder
does all this while also offering a rising income opportunity. We will
continue to develop solutions for investors and as their needs evolve,
so will our products.”
Assured Edge Income Builder-NY is available only in New York. The
guaranteed lifetime withdrawal benefit is automatically included in the
contract issue with no annual rider fee. A suite of annuity products is
available in all other states issued by American General Life Insurance
Company (AGL).
For more information about Assured Edge Income Builder, please visit www.aig.com/annuities.
Financial advisors may also contact 888-502-2900.
Annuities issued by The United States Life Insurance Company in the City
of New York (US Life), Policy #s: USL224-17; Rider #s: USLGLB2 (2/17);
R348-06-NY; R389-11-NY; R342-06-NY. Guarantees are backed by the
claims-paying ability of US Life. US Life is responsible for financial
obligations under its insurance products and is a member of American
International Group, Inc. (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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171129005740/en/
Source: American International Group, Inc.
AIG
Kenny Juarez (Media), 212-458-8352
kenny.juarez@aig.com
or
Linda
Malamut (Media), 310-772-6533
linda.malamut@aig.com