AIG Announces AG Platinum Choice VUL
December 15 2014 - 9:00AM
Business Wire
Innovation in variable universal life insurance offers
protection, choice and opportunity
American International Group, Inc. (NYSE: AIG) today announced
the launch of AG Platinum Choice VUL, variable universal life
insurance issued by American General Life Insurance Company with a
flexible design that provides death benefit protection, upside
market potential, cash accumulation for future financial needs, and
the opportunity to guarantee the death benefit throughout the
policy holder’s lifetime.
When combined with the optional Accelerated Access SolutionSM,
an available chronic illness rider, the product offers the
potential for the policy holder to receive access to an accelerated
portion of the death benefit, income-tax-free.
“We believe AG Platinum Choice VUL meets market needs as a
robust yet flexible financial vehicle for our valued distribution
partners to offer clients, in that it combines customizable life
insurance protection with 46 professionally managed investment
options from renowned money managers,” said John Deremo, Executive
Vice President and Chief Distribution Officer, Life Insurance, AIG
Financial Distributors.
Chris Ogburn, Vice President, Life Insurance Product Management,
AIG Consumer Insurance, said, “With features and benefits that can
guarantee lifetime coverage while providing growth potential
through diverse investment options, AG Platinum Choice VUL is
designed to help clients not only protect their beneficiaries, but
also, help protect their financial assets.” Guarantees are backed
by the claims-paying ability of American General Life Insurance
Company.
AG Platinum Choice VUL may be particularly well suited for
individuals under the age of 65 who need the protection life
insurance provides and are:
- seeking market opportunities to
accumulate cash value in a tax-favored vehicle to supplement
income-producing assets in the future,
- searching for a competitively priced
death benefit with long-term guarantees coupled with growth
potential, or
- desiring cash accumulation potential,
and the opportunity to tailor their policy with optional riders to
meet specific, future needs, such as for potential access to living
benefits in the event of chronic illness.
For chronic illness protection, the Accelerated Access Solution
features flexible benefit payment options, including a unique
payout methodology to help guard against inflation. The payout can
be either 2 percent or 4 percent of the benefit amount per month,
or the policy holder can choose to have the benefit amount set at
the maximum Internal Revenue Service (IRS) allowable per diem at
the time the benefit is exercised. (In 2015, that’s $330 per
day.)
The Accelerated Access Solution also offers affordable premiums
that are fully guaranteed for the life of the contract, and a
waiver of monthly premium that applies as long as the policy holder
qualifies for benefits – even if he or she chooses not to take the
benefits.
For more information on AG Platinum Choice VUL – life insurance
you don’t have to die to use – and for important consumer
disclosures concerning accelerated death benefits, visit
www.aig.com/lifeinsurance.
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. Products may not be available in all states and
product features may vary by state. Variable universal life
insurance policies issued by AGL are distributed by AIG Capital
Services, Inc., member FINRA. Policy Form Numbers 14904,
ICC14-14904; Rider Form Numbers 14291, 13972, 13600, 82012, 82001,
07620, 13601, 88390 and 82410.
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’s Life Insurance DivisionStasa Cushman,
713-831-6414stasa.cushman@aig.com
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