AIG Announces QoL Performer Plus(SM)
August 18 2014 - 9:00AM
Business Wire
Quality of Life…Insurance® offers protection, accumulation
potential and optionality
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 |
YouTube: www.youtube.com/aig | Twitter: @AIGInsurance | LinkedIn:
http://www.linkedin.com/company/aig |
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.
AIG Life and RetirementStasa Cushman,
713-831-6414stasa.cushman@aig.com
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