American General Life Companies Announces AG Secure Lifetime Guaranteed Universal Life InsuranceSM
HOUSTON, February 14, 2011 — American General Life Companies (American General) announces AG Secure Lifetime GULSM,a new universal life insurance product designed for clients who need a guaranteed, affordably priced permanent death benefit. Structured to provide more guarantees and flexibility than traditional guaranteed UL, policies can be issued to age 80, with guaranteed level premiums and cash value accumulation. Partial withdrawals enable access to cash accumulation values.
“We developed AG Secure Lifetime GUL to meet the need in today’s market for a competitively priced life insurance product that offers security through guaranteed cash buildup,” said Tim Heslin, vice president and product line business leader. “Guaranteed access creates future flexibility and choice as needs change. It’s more affordable than whole life and, like traditional UL, provides access to cash that can come in handy during retirement or emergencies later in life. Unlike typical guaranteed UL policies available today, the cash and access to it are guaranteed.”
Erik Baden, senior vice president of strategic marketing and business development, added, “The added feature of guaranteed, accessible cash values makes AG Secure Lifetime GUL an especially attractive and flexible solution for all ages, including the older age market. Coverage guarantees can be tailored to specific clients and needs to as long as age 121. With the flexibility to withdraw cash and continue proportionally reduced coverage and premiums, and its combination of secure cash accumulation, affordable price and competitive compensation, we believe it offers a unique selling opportunity.”
Agent compensation for AG Secure Lifetime GUL has been structured aggressively, Heslin said, and consumer-friendly application processing helps preserve guarantees in the event of late premium payments. American General is a leader in secure online innovation, with eStation, a web-based business resource center featuring sales tools as well as robust eSignature and eSubmission technologies to help expedite the application and underwriting processes.
For more information about American General’s new AG Secure Lifetime GUL Insurance, call 1-800-677-3311 (Monday – Friday, 7 a.m. – 6 p.m. CT). For more information about eStation, visit http://eStation.americangeneral.com.
Policies issued by:
American General Life Insurance Company
2727-A Allen Parkway, Houston, Texas 77019
(Policy number 10460)
The United States Life Insurance Company in the City of New York
70 Pine Street, New York, New York 10270
AG Select-a-Term 09007N
The underwriting risks, financial and contractual obligations and support functions associated with the products issued by American General Life Insurance Company (AGL) are the issuing insurer’s responsibility. AGL does not solicit business in the state of New York. Guarantees are subject to the claims-paying ability of the issuing insurance company. Policies and riders not available in all states.
American General Life Companies, www.americangeneral.com, is the marketing name for the insurance companies and affiliates comprising the domestic life operations of American International Group, Inc., including AGL. American General Life Companies insurers offer a broad spectrum of life insurance, fixed annuities, accident & health products and worksite benefits to serve the financial and estate planning needs of its customers throughout the United States.