AIG American General of Houston has launched AIG VisionMaximizer, an index single-premium deferred annuity underwritten by American General Life Insurance Co.
The product allows clients to participate in market growth based, in part, on increases in the Standard & Poor's 500 index and provides protection from decreases in a client's annuity value caused by index losses.
The product, announced Tuesday, offers four accounts to choose from, free withdrawals in all years, a premium bonus, and a death benefit.
The day the contract is issued, a premium bonus equal to 5% of the single premium is credited to the annuity value and helps maximize growth right away. If the contract owner dies, the contract provides the heirs the full annuity value in their choice of a single payment or a stream of payments.
AIG American General is the marketing name for the insurance companies and affiliates that make up American International Group Inc.'s domestic life operations, including American General Life.
The AIG American General companies offer fixed and variable life insurance, annuities, and accident and health products throughout the United States.
