Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
HOUSTON, August 18, 2014 – American International Group, Inc. (NYSE: AIG) today announced the launch of QoL Performer PlusSM, affordable universal life insurance that can provide a guaranteed death benefit up to age 80. The product also offers the opportunity for cash accumulation, as well as the Quality of Life…Insurance accelerated benefit solution that can make available needed cash if the policy holder suffers a qualifying illness or condition.
“QoL Performer Plus could be the first policy clients buy or the last, because it is designed to help serve and protect Americans and their families, no matter what the future brings,” said James A. Mallon, President, Life Insurance, AIG Global Consumer Insurance. “We’ve structured this product in consideration of consumers who are just embarking on their financial journeys and need a product that can efficiently adapt to changing needs throughout a lifetime, as well as clients at middle age and beyond who appreciate guarantees, flexibility and the opportunity to grow and access cash value for supplemental retirement income or any other purpose.”
John Deremo, Executive Vice President and Chief Distribution Officer, Life Insurance, AIG Financial Distributors, said of the products, “Performer Plus can pay a portion of the base life insurance benefit if the insured has a major heart attack, stroke, cancer or other qualifying illness or condition, at no additional premium cost to the policy holder. Clients can use the money to help cover the costs of treatment, help recoup lost income, or help with other needs. It’s life insurance you don’t have to die to use.”
The QoL Performer Plus policy pays currently competitive interest, with guaranteed minimum interest crediting of 4 percent for the first five years and 2.25 percent thereafter. Furthermore, with QoL Performer Plus, policy holders have the potential to:
For more information on QoL Performer Plus – life insurance you don’t have to die to use – and for important consumer disclosures concerning accelerated death benefits, visit www.qualityoflifeinsurance.com.