Life Insurance You Don’t Have to Die to Use
Tools and Resources
Universal Life Products
AG Secure Lifetime GUL II guaranteed universal life insurance combines long-term financial security with the flexibility to adapt to changing needs. Now including – a unique package providing you with life insurance that offers long-term protection and maximum flexibility. You select the coverage amount, the duration of the death benefit guarantee, and how long you want to pay premiums. You can build guaranteed cash value that can be accessed through future withdrawals.1
AG Asset Protector, available on AG Secure Lifetime GUL II policies, provides a unique package of living benefits that allows access to death benefits while living. The AG Asset Protector product suite includes two life insurance riders: the Accelerated Access SolutionSM which allows income tax free access to death benefits if diagnosed with a chronic illness, plus the Lifestyle Income SolutionSM which allows access to your death benefit for any reason after age 85.
AG Secure Lifetime GUL II provides life insurance with lasting guarantees and protection. Unlike other products of its kind, it can also build substantial long-term guaranteed cash value, and the ability to use your policy to meet your changing needs. Optionality features allow you to:
- Create an additional income stream in retirement while maintaining a guaranteed death benefit
- Reduce the death benefit and premium while maintaining the original coverage guarantee period
- Withdraw cash value from the policy yet still maintain the original coverage guarantee period
- Terminate coverage and surrender the policy for cash value
- Exchange the policy for one that better suits the current need
- Living benefit riders: Accelerated Access Solution and Lifestyle Income Solution
- New Enhanced Surrender Value Rider (return of premium feature)
- Multiple benefit payment options - three options available including an IRS maximum per diem amount which provides a form of inflation protection for the policy owner’s benefit2
- Waiver of monthly deduction – policy payments stop for base policy and riders as long as policy owner meets the chronic illness requirement3
- Flexible options with total benefit amount – select any amount between 50% -100% of base policy death benefit
- No receipts required – benefits paid irrespective of actual costs incurred
- Guaranteed benefits – no increases in rider costs or decreases in benefits paid based on changing market conditions
- Not a “use or lose it” policy – benefits are paid no matter what . . . either when the chronic illness requirement is met or via death benefits
- Control over how money is spent – up to the policy holder how the funds are used, not restricted via the policy
- No waiting period – chronic illness benefits are available as soon as policy is issued (90 day elimination period applies)4
- Optional, premium-paying rider provides guaranteed withdrawal benefits (regardless of the cash surrender value under the policy)
- Protects against the possibility of outliving retirement income and preserves standard of living throughout senior years
- Provides the option to maximize income during early retirement years while protecting against an income shortfall later in life
Maximum issue age of 70 available on all underwriting classes
1 Guarantees are subject to the claims-paying ability of the issuing insurance company.
2 IRS caps the maximum daily rate each year. The 2014 maximum per diem is $330/day or $9,900/month. Subsequent years may be higher.
3 Insured must be certified as chronically ill by a licensed physician and meet all eligibility requirements.
4 90 consecutive days must expire before the Insured becomes eligible for Accelerated Benefit payments. See outline of coverage for details.
Policies issued by American General Life Insurance Company (AGL), 2727-A Allen Parkway, Houston, Texas 77019. AG Secure Lifetime GUL II policy form numbers 13460, ICC13-13460; Lifestyle Income Rider (Guaranteed Withdrawal Benefit Rider) form number 13972; Accelerated Access Solution (Chronic illness accelerated death benefit rider) 13600, ICC13-13600. The underwriting risks, financial and contractual obligations and support functions associated with the products issued by AGL are the issuing insurer’s responsibility. Guarantees are subject to the claims paying ability of the issuing insurance company. AGL does not solicit business in New York. American General Life Companies, www.americangeneral.com, is the marketing name for a group of affiliated domestic life insurers.
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