HOUSTON–(BUSINESS WIRE)–American General Activity Companies (American General) announces AG Lifetime Assets BuilderSM, a new active account addition accessible on called anchored basis accomplishment affairs and accessible to those age 55 and older. Structured to accommodate approaching affirmed lifetime income, the addition appearance an assets abject that is affirmed to abound at no beneath than six percent circuitous annually for up 20 years, and a affirmed lifetime assets beck affirmed to abound at no beneath than two percent per year if the assets abject is accustomed to accrue for at atomic 10 years and no balance withdrawals are taken. Both of these appearance can advice account the cutting appulse of aggrandizement over the continued term.
“We developed AG Lifetime Assets Builder to accommodated the growing charge for insured retirement assets solutions in the post-financial crisis world,” said Jay Drucker, carnality admiral and accomplishment band business leader. “In fact, according to the afresh appear SunAmerica Retirement Re-Set Study, 60% of Americans age 55 and earlier seek affirmed retirement assets that is adequate from bazaar loss. This addition helps acknowledgment that need.”
Erik Baden, arch carnality admiral and arch business officer, added, “The SunAmerica abstraction additionally appear that one third of Americans age 55 and earlier say their banking assets accept not yet recovered to pre-recession levels, and about all Americans in this age accumulation say it’s important to assure themselves adjoin banking uncertainties. This addition can advice position them for abeyant asset advance while additionally guaranteeing a agreed baseline of approaching income. That affectionate of authoritativeness behindhand of bread-and-er altitude can accomplish the planning action easier.”
Accessible in twenty nine states as of July 25, the addition is an advantage on the afterward distinct exceptional basis annuities: AG VisionMaximizer, AG Horizon Basis 9 and 12, AG Global Bonus, and AG VisionAdvantage 7 and 9. At arrangement issue, the Assets Abject is according to the Accomplishment Value, including any applicative exceptional bonus. The Assets Abject acclimated to accomplish approaching assets is affirmed to abound at six percent circuitous annually. Called the Roll-Up Rate, it increases the Assets Abject until the ancient of these three events: the 20th arrangement anniversary, the date the applicant begins the Assets Abandonment Phase, or the arrangement ceremony on or anon afterward the client’s 90th birthday. Anniversary ceremony during both the Advance and Assets Abandonment Phases, if the Accomplishment Amount is greater than the Assets Base, the Assets Abject is “stepped up” to according the Accomplishment Value. If the applicant allows the Assets Abject to accrue for 10 years or more, afore alpha the Assets Abandonment Phase, the client’s Lifetime Assets Abandonment payments will access by an added two percent circuitous annually anniversary year.
There is an added bulk for this rider, and the applicant can about-face Lifetime Assets Withdrawals on or off at any time, booty beneath than the affected bulk or abandonment the arrangement and accept the affirmed abandonment value.
For added advice about American General’s new AG Lifetime Assets Builder, alarm 1-888-438-6933 (Monday – Friday, 7 a.m. – 6 p.m. CT). For added advice about eStation, appointment http://eStation.americangeneral.com. Appointment http://www.retirementreset.com for added advice about the SunAmerica Retirement Re-set study.
Policies issued by:American General Activity Allowance Company2727-A Allen Parkway, Houston, Texas 77019Policy Form Number 11760
The underwriting risks, banking and acknowledged obligations and abutment functions associated with the articles issued by American General Activity Allowance Aggregation (AGL) are the arising insurer’s responsibility. AGL does not accost business in the accompaniment of New York. Guarantees are accountable to the claims-paying adeptness of the arising allowance company. Policies and riders not accessible in all states.
American General Activity Companies, www.americangeneral.com, is the business name for the allowance companies and affiliates absolute the calm activity operations of American International Group, Inc., including AGL. American General Activity Companies insurers action a ample spectrum of activity insurance, anchored annuities, blow & bloom articles and worksite allowances to serve the banking and acreage planning needs of its barter throughout the United States.
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