It's debatable if the fiduciary standard is 'higher' than suitability. But the better question might be, who's holding the bar?
American General Life Companies (American General) announces AG Secure
Lifetime GULSM,a new 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.
“We developed AG Secure Lifetime GUL to meet the need in today’s market
for a competitively priced life insurance product that offers security
through guaranteed cash buildup,” said Tim Heslin, vice president and
product line business leader. “Guaranteed access creates future
flexibility and choice as needs change. It’s more affordable than whole
life and, like traditional UL, provides access to cash that can come in
handy during retirement or emergencies later in life. Unlike typical
guaranteed UL policies available today, the cash and access to it are
Erik Baden, senior vice president of strategic marketing and business
development, added, “The added feature of guaranteed, accessible cash
values makes AG Secure Lifetime GUL an especially attractive and
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. With the flexibility to withdraw cash and continue
proportionally reduced coverage and premiums, and its combination of
secure cash accumulation, affordable price and competitive compensation,
we believe it offers a unique selling opportunity.”
Agent compensation for AG Secure Lifetime GUL has been structured
aggressively, Heslin said, and consumer-friendly application processing
helps preserve guarantees in the event of late premium payments.
American General is a leader in secure online innovation, with eStation,
a web-based business resource center featuring sales tools as well as
robust eSignature and eSubmission technologies to help expedite the
application and underwriting processes.
For more information about American General’s new AG Secure Lifetime GUL
Insurance, call 1-800-677-3311 (Monday – Friday, 7 a.m. – 6 p.m. CT).
For more information about eStation, visit http://eStation.americangeneral.com.
Policies issued by:American General Life Insurance Company2727-A
Allen Parkway, Houston, Texas 77019(Policy number 10460)
The underwriting risks, financial and contractual obligations and
support functions associated with the products issued by American
General Life Insurance Company (AGL) are the issuing insurer’s
responsibility. AGL does not solicit business in the state of New York.
Guarantees are subject to the claims-paying ability of the issuing
insurance company. Policies and riders not available in all states.
American General Life Companies, www.americangeneral.com,
is the marketing name for the insurance companies and affiliates
comprising the domestic life operations of American International Group,
Inc., including AGL. American General Life Companies insurers offer a
broad spectrum of life insurance, fixed annuities, accident & health
products and worksite benefits to serve the financial and estate
planning needs of its customers throughout the United States.
American General Life CompaniesCorporate CommunicationsLinda
Source: American General Life Companies