AIG American General Introduces Next Generation of Index Interest Universal Life Products.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 Elite Global Plus(SM) and AIG Elite Global Survivor(SM) offer greater flexibility in addition to popular global indexing feature HOUSTON -- Building on the success of its popular AIG Elite Global IUL IUL Iulius (Latin: July) IUL Illegal Use of Label ([R])index universal life product, AIG American General announced today the introduction of AIG Elite Global Plus(SM) and AIG Elite Global Survivor(SM), each underwritten by American General Life Insurance Company (AGL (programming) AGL - (Atelier de Genie Logiciel) French for IPSE. ) and The United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Life Insurance Company in the City 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 (USL (UNIX System Laboratories, Inc.) An AT&T subsidiary formed in 1990, responsible for developing and marketing Unix. In 1993, USL was acquired by Novell and merged into Novell's UNIX Systems Group (USG). See Univel. 1. ), subsidiaries 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). With these enhanced offerings, consumers can now choose a single life policy or a survivor policy, creating more options to meet their specific needs and situation. "When AIG Elite Global IUL was introduced in 2006, it was unmatched in the life insurance industry," said Rod Rishel, vice president and universal life business leader for AIG American General. "The Plus and Survivor versions of this groundbreaking concept will help us maintain our competitive edge in the index universal life marketplace by offering the additional features our customers desire." Along with the popular global indexing feature, these two new products offer increased allocation options, greater case design flexibility, monthly index options, a no-lapse guarantee of 30 years or to age 90, and strong look-back illustrated rates. An Elite Product AIG Elite Global Plus and AIG Elite Global Survivor each provide death benefit protection, as well as the opportunity for cash value accumulation through index interest crediting based in part on the performance of three external global financial indices. Index interest is credited automatically and the two best-performing indices are overweighted. The value of each index is compared with the value at the beginning of that period. Index interest, if any, is calculated using 75 percent of the return of the best performing index after adjustment for the participation rate, plus 25 percent of the return of the second-best performing index after adjustment for participation rate. The third-best performing index over the period is not used in calculating the amount of index interest to be credited. Increased Flexibility and Choice New enhancements allow for policy owners to choose one of three allocation options, including a five-year index account, one-year index account or a declared interest account (five-year option not available on the USL products.) Policy owners can choose monthly index accounts to allow for premium payment flexibility. In addition, policy owners have the choice of purchasing a single life policy or a survivor policy which will create options for optimal funding strategies. More Guarantees AIG Elite Global Plus and AIG Elite Global Survivor also have additional guarantees for the policy owner. Regardless of the performance of the three indices, the policy's cash surrender value The amount of money that an insurance company pays the insured upon cancellation of a life insurance policy before death and which is a specific figure assigned to the policy at that particular time, reduced by a charge for administrative expenses. will never be less than premium accumulated at 3 percent interest over the life of the policy (after loans, charges and withdrawals are deducted from premiums paid). A death benefit guarantee is automatically included at no additional charge; coverage is guaranteed not to lapse for 30 years or to age 90, if earlier. The company also offers a one-year monthly guarantee premium that allows the policy to be put in force while arranging premium financing Premium Financing involves the lending of funds to a person or company to cover the cost of an insurance premium. Premium finance loans are often provided by third party finance entity known as a "Premium Financing Company"; however insurance companies and brokerages occasionally or a 1035 exchange. For more information about AIG Elite Global Plus and AIG Elite Global Survivor, visit www.aigag.com/EliteGlobal. Policies issued by American General Life Insurance Company and The United States Life Insurance Company in the City of New York. AIG Elite Global Plus Policy Form Numbers 08444 and 08444N, AIG Elite Global Survivor Policy Form Numbers 08414 and 08414N. Subsidiaries of American International Group, Inc. (AIG) The underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. risks, financial and contractual obligations, and support functions associated with the products issued by American General Life Insurance Company and The United States Life Insurance Company in the City of New York are each insurer's responsibility. AIG does not underwrite To insure; to sell an issue of stocks and bonds or to guarantee the purchase of unsold stocks and bonds after a public issue. The word underwrite has two meanings. any insurance policy referenced herein. Guarantees are subject to the claims-paying ability of the issuing insurance company. USL is authorized to conduct insurance business in New York. Policies and riders are not available in all states. About AIG American General AIG American General, www.aigag.com, is the marketing name for the insurance companies and affiliates comprising the domestic life operations of American International Group, Inc., including American General Life Insurance Company and The United States Life Insurance Company in the City of New York. AIG American General-branded companies offer a broad spectrum of fixed and variable life insurance, annuities 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. About American International Group, Inc. American International Group, Inc. (AIG), a world leader in insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , 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 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 Ireland and Tokyo. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion