AIG Enhances Underwriting For Two IUL Insurance Products

HOUSTON, May 15, 2018 – American International Group, Inc. (NYSE: AIG), a leader in the index universal life (IUL) insurance market, announced new, non-medical underwriting for Max Accumulator+ IUL insurance policies and improvements to non-medical underwriting for QoL Max Accumulator+ IUL insurance policies, both issued by American General Life Insurance Company (AGL). “Non- medical underwriting” as described in this announcement means that no in-person paramedical examination will be required of an applicant for life insurance.

For Max Accumulator+ cases that fall within predetermined guidelines, non-medical underwriting is now available for clients ages 0-50 in up to Preferred Plus underwriting class for policies with face amounts of $50,000- $499,999.99. For eligible QoL Max Accumulator+ cases, non-medical underwriting has been expanded to encompass those same ages and face amounts for all rate classes up to and including Preferred Plus.¹

“Many consumers have gaps in their life insurance coverage and our non-medical underwriting is designed to help them access solutions more easily and quickly,” Rod Rishel, Chief Executive Officer, Life Insurance, AIG, said. “Non-medical underwriting makes the purchase process simpler for clients, easier for financial professionals to complete, and faster for us to support.”

For proposed insureds who qualify, non-medical underwriting of Max Accumulator+ and QoL Max Accumulator+ is designed to result in a significantly reduced underwriting cycle time (from application receipt to the underwriting decision) and an application process that’s less intrusive. In addition to no in-person paramedical examination, the process features:

• no physical exam,
• no lab tests, and
• no attending physician statement (APS).

For financial professionals, non-medical underwriting of the two IUL solutions means:

• easy processing, with fewer requirements to gather,
• the same competitive products with no changes to state availability, and
• faster turnaround times, especially for Max Accumulator+ applications submitted through the Quick Ticket® online submission tool for selected AIG life insurance products, and QoL Max Accumulator+ applications submitted via iGO®, the intelligent fillable form and data gathering solution hosted by iPipeline®.

To further support financial professionals in efficiently meeting client needs, AIG has launched two online IUL insurance resource centers, at www.aig.com/IUL and www.aig.com/QoLIUL. They supplement other AIG resources, including Generation Station, an online tool created recently to help financial professionals quickly pinpoint potential life insurance solutions based on a client’s age, gender and a just few other attributes. The generational tool and related resources are at www.aig.com/GenerationMatters.

The IUL insurance policies available through AIG offer flexible death benefit protection, the potential for long-term cash value accumulation, possible interest crediting based on upward market movement, protection against market downturns, and multiple options for accessing cash value.

Max Accumulator+ offers available living benefit riders. QoL Max Accumulator+, part of the Quality of Life…Insurance® product suite offered by AIG, features built-in, no-cost accelerated benefit riders. Additional riders are available with both Max Accumulator+ and QoL Max Accumulator+.

For more information about AIG, visit www.aig.com.