This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

AIG Enhances Its Suite Of Index Annuities To Offer Guaranteed Rising Income With Principal Protection

Stocks in this article: AIG

American International Group, Inc. (NYSE:AIG) announced the latest enhancements to their index annuity products, issued by American General Life Insurance Company, designed to offer individuals a powerful combination of guaranteed rising income, principal protection and growth potential.

The enhanced Lifetime Income Plus SM guaranteed living benefit rider in AIG’s suite of index annuities will now guarantee rising income for the first 10 contract years, as long as withdrawals do not exceed the annual limit. This rider is automatically included in Power Index Plus Income SM, a new index annuity focused on retirement income and designed especially for the financial institution and broker/dealer distribution channels. Lifetime Income Plus is also available as an optional rider with the AG Choice Index 10 ® and Power Index Plus SM annuities offered through brokerage general agencies.

“Given concerns about market volatility, rising retirement costs and longer life expectancies, many individuals are looking for a retirement savings vehicle that can help them grow and protect their assets, while also ensuring their retirement income will rise and last for life,” said Rob Scheinerman, Executive Vice President, Individual and Group Retirement, AIG Life and Retirement. “With the enhanced Lifetime Income Plus rider, individuals can have the confidence of knowing their retirement income can grow for up to 10 contract years, even in a down market and after withdrawals begin.”

Lifetime Income Plus guarantees the growth of the Income Base—the amount on which lifetime withdrawals are based—by locking in the greater of potential interest earnings or an annual income credit of up to 7%. Retirement income is certain to rise with a partial income credit, as long as withdrawals are taken within the terms of the rider. Please note that interest is added to the Income Base, only if it produces a contract value that is higher than all previous anniversary values.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,614.81 +215.14 1.31%
S&P 500 1,941.28 +37.27 1.96%
NASDAQ 4,419.4780 +103.4040 2.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs