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Universal Life Insurance
Aptly named, AG Choice Index GUL allows you to customize your life insurance policy to best fit your needs. In addition to guaranteed death benefits, it gives you up to three options for building cash value.
Choose from up to two index-interest crediting accounts with a minimum 1 percent interest rate and a declared-interest account with a minimum 2 percent interest rate. The first employs the annual point-to-point growth of a domestic stock index, subject to a cap rate, with a guaranteed 1 percent interest rate. The second account is linked to the five-year point-to-point growth of the best two out of three global stock indices, subject to a participation rate, with a guaranteed 1 percent interest rate. The five-year point-to-point account is not available in the state of New York.
You select the amount of coverage you need. You structure the premium payments any way you want—continuously over the life of the life insurance policy, or pay more to shorten the payment period. You can even take out loans against the policy. Benefits are guaranteed, as long as you’ve paid sufficient premium. And index accounts provide the opportunity to grow cash values in today’s low interest-rate environment.
Greg and Shannon are in their mid thirties with two kids—and another on the way. With AG Choice Index GUL Life Insurance, they’re protected in case anything should happen. Shannon plans to take some time off, so if they need to adjust their premiums, they have that option. And down the road, they know they have the funds to help their kids with college.
- Growth Potential: through accounts linked to index interest accounts or a declared-interest account guaranteeing a minimum 2 percent annual interest rate (see riders below).
- Guaranteed Death Benefits: as long as sufficient premium is paid timely to guarantee the death benefit.
- Security: you will always know the specific amount of premium needed to guarantee the death benefit, without being concerned about interest rate fluctuations or other factors that could impact the policy's cash value.
- Flexibility: you can increase or decrease your death benefit as your needs change. And you can select a premium plan that fits your financial goals.
- Fund Accessibility: you can access cash for a variety of needs in the future through withdrawals or loans. These and other policy changes may affect the death benefit guarantee. Your American General Life Companies representative can help you evaluate the potential impact of these changes.
- Minimum Death Benefit: $100,000.
- Issue Ages: 0 – 90.
- 1-Year Point-to-Point Fixed Index Interest Account with Index Cap Rate: links performance to a national stock index, subject to an annual cap (never less than 0 percent) and a minimum annual guaranteed interest rate of 1 percent, regardless of index performance, excluding dividends.
- 5-Year Point-to-Point Multiple Fixed Index Interest Account with Participation Rate: links performance to the best two out of three global stock indices, subject to a participation rate (never less than 15 percent) and an annual minimum guaranteed interest rate of 1 percent, regardless of performance, excluding dividends. This rider is not approved in all states.
- Accidental Death Benefit: provides up to $200,000 in additional benefits if the insured's death is accidental.
- Children's Insurance Benefit: provides term insurance on dependent children up to but not including age 25.
- Spouse/Other Insured Rider: provides level term insurance on the insured's spouse. (Not available in New York.)
- Terminal Illness Rider: provides an accelerated death benefit if the insured is diagnosed with a terminal illness (12 months or less to live). (Not available in New York.)
- Waiver of Monthly Deduction: waives the monthly deduction for face amounts up to $5 million should the insured become totally disabled after six months of disability.
- Overloan Protection Rider: guarantees that the base policy will not lapse due to an outstanding loan.
1 Not an actual case; presented for illustrative purposes only.
2 See the policy and riders for complete details. There may be a charge for each rider selected. All benefits payable are subject to the terms and conditions of the policy and riders, including benefit durations, limitations and exclusions. Not all benefits, rates and exclusions are covered in every state. Adding or deleting riders and increasing or decreasing coverage under existing riders can have tax consequences. Policy owners should consult a qualified tax advisor.
Policies issued by:
2727-A Allen Parkway, Houston, Texas 77019.
Policy Form Number 11474
1-Year Point-to-Point Fixed Index Interest Account with Index Cap Rider Number 11220
5-Year Point-to-Point Multiple Fixed Index Interest Account with Participation Rate Rider Number 11221
Accidental Death Benefit Rider Form Number 82012
Children’s Insurance Benefit Rider Form Number 82410
Spouse/Other Insured Term Rider Form Number 88390
Terminal Illness Rider Form Number 91401
Waiver of Monthly Deduction Rider Form Number 82001
Overloan Protection Rider Form Number 07620
One World Financial Center, 200 Liberty Street, New York, New York 10281
Policy Form Number 11474N
Accidental Death Benefit Rider Form Number ADB791E
Children’s Insurance Benefit Rider Form Number C1791E1
Waiver of Monthly Deduction Rider Form Number 82001N
1-Year Point-to-Point Fixed Index Interest Account with Index Cap Rider Number 11220N
Overloan Protection Rider Form Number 07620N
The underwriting risks, financial and contractual obligations and support functions associated with products issued by American General Life Insurance Company (AGL) and The United States Life Insurance Company in the City of New York (USL) are the issuing insurer’s responsibility. All 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 not available in all states.
American General Life Companies, www.americangeneral.com, is the marketing name for a group of affiliated domestic life insurers including AGL and USL.