AIG American General Announces Annuity Enhancement that Adjusts Income Payments with Inflation.HOUSTON -- American General Life Insurance Company (American General Life) and The United States Life Insurance Company (United States Life), member companies of American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. , Inc. (AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group ), have enhanced their Platinum Income Annuity(SM) with a new feature to help consumers offset the effects of inflation. The Platinum Income Annuity, an immediate fixed-income annuity product, now includes the option of annually adjusted income payments based on changes in the Consumer Price Index (CPI)1. "What you could buy with one dollar 20 years ago now costs almost twice as much," said Michael Harrison, Vice President of Annuity Marketing for AIG American General. "Inflation limits retirees' spending power The power of legislatures to tax and spend. Spending power is conferred to state and federal legislatures through their constitution. Judicial Review of legislative spending varies from state to state, but the law of federal spending informs courts in all states. and causes them to spend their assets more rapidly. With this inflation-adjustment feature, the Platinum Income Annuity payouts can change as the economic environment changes, which is a great relief to individuals with limited assets and income." In addition to the new inflation protection option, other key features of the Platinum Income Annuity include: * Customize Income Options: Clients can select the amount of income they need, when they need it and how long they want the payments to continue, either for themselves or their beneficiaries. * Medical Underwriting medical underwriting Managed care The process of determining the medical needs of an individual or group before providing coverage. See Health insurance. : Individuals with medical impairments have the potential to increase their income payments or reduce the premium amount needed for specific income payments. "The Platinum Income Annuity may fit nicely into a client's overall retirement picture, as it can be used to help cover retirees' recurring expenses," said Harrison. "Plus, it helps clients address the challenge of not outliving their assets by providing the choice of a guaranteed2 stream of income for life - something that only annuities can offer." For more information on Platinum Income Annuity, send an e-mail to AnnuityMarketing@aigag.com. These product specifications are not intended to be all-inclusive of product information. State variations may apply. Please refer to the annuity contract Annuity Contract The written agreement between an insurance company and a customer outlining each party's obligations in an annuity coverage agreement. This document will include the specific details of the contract, such as the structure of the annuity (variable or fixed), any for complete details. [TABLE OMITTED] American General Life does not solicit business in the state of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Annuities and riders not available in all states. This contract is not insured by the FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). , the Federal Reserve Board or any similar agency. The contract is not a deposit or other obligation of, nor is it guaranteed or endorsed by, any bank or depository institution Depository institution A financial institution that obtains its funds mainly through deposits from the public. This includes commercial banks, savings and loan associations, savings banks and credit unions. . AIG American General is the marketing name for the companies comprising the domestic life operations of American International Group, Inc. (AIG), including American General Life and United States Life. AIG American General companies offer a broad spectrum of life insurance, annuity, investment and accident and health products to serve the financial and estate planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the needs of its customers throughout the United States. American International Group, Inc., world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed in the U.S. on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. as well as the stock exchanges in London, Paris, Switzerland and Tokyo. 1 Not available in all states. Charges may apply. 2 Guarantees are subject to the claims-paying ability of the issuing insurance company. |
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