American General
American General Life Companies has introduced AG Secure Lifetime GUL, a 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.
The added feature of guaranteed, accessible cash values makes AG Secure Lifetime GUL a 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.
A policyowner can withdraw funds (as opposed to taking a loan) and maintain the policy with a lower face amount, lower premiums and lower death benefit. Most of today’s 45- to 70-year-olds are conservative, and while they want to leave a legacy to their beneficiaries, they also realize that they might end up with more debt or medical bills than anticipated and need to access the cash value in the policy. This product lets them accomplish both goals most effectively.
Agent compensation for AG Secure Lifetime GUL has been structured aggressively, and consumer friendly application processing helps preserve guarantees in the event of late premium payments.
