Regarding all advertised services: Agency services provided by AIG Direct Insurance Services, Inc. ("AIG Direct"), CA license #0B57619 and AR license #0100105378, a subsidiary of American General Life Insurance Company (AGL) Houston TX, and an affiliate of The United States Life Insurance Company in the City of New York (US Life). Each issuing insurance company is responsible for financial obligations of their respective insurance. Guarantees are backed by the claims paying ability of the issuing insurance company. Products may not be available in all states and product features may vary by state. For all companies mentioned, their financial professionals and other representatives are not authorized to give legal, tax or accounting advice. For advice concerning your individual circumstances, consult your professional attorney, tax advisor or accountant.
Television Ad Disclosures:
Rate Example: $300,000 coverage for $16/month example assumes a 40 year old male buying a 10 year term life insurance policy in the Preferred Plus Underwriting Class based on monthly premium rates as of 01/15/2021.
Save up to 40%: Savings comparison based on monthly premium rates as of 01/15/2021 for a 10-year level term policy, face amounts of $300,000, issued by American General Life Insurance Company at its best published rates for a male, age 40, non-smoker.
Up to 3x more: Savings comparison based on monthly premium rates as 01/15/2021 for a 10-year level term policy for selected coverage amounts, issued at each company's best published rates for a male age 40, non-smoker.
Radio Advertisements: Characters, including spokesperson, and situations are dramatizations.
Endorsements/Testimonials. The endorsements/testimonials presented should not be construed as a recommendation to purchase or an indication of the value of any product or service. The testimonials are provided by actual AIG Direct customers who are not affiliated with AIG Direct and who were not provided compensation.
Save up to 55% savings comparison based on monthly premium rates as of 01/15/2021 for a 10-year level term policy, for face amounts of $1,100,000 issued by American General Life Insurance Company at its best published rates for a female, age 30, non-smoker.
Notice to California Residents Age 65 or Older: In the process of evaluating the purchase of any life insurance or annuity product, you should understand that the sale or liquidation of any stock, bond, IRA, certificate of deposit, mutual fund, annuity, or other asset to fund the purchase of this product may have tax consequences, early withdrawal penalties or other costs or penalties as a result of their sale or liquidation. Prior to purchasing the new life insurance or annuity product, you or your representative may wish to consult independent legal or financial advice before selling or liquidating any assets.
Disclosures related to advertisements referencing American General Life Insurance Company products
For the AGL products discussed below, rates are current as of the date each advertisement is placed and most recently confirmed as of 01/15/2021. Issuing companies, AGL and/or US Life are each responsible for financial obligations of their respective insurance products and are members of American International Group, Inc. (AIG). AGL does not solicit business in the state of New York. In New York, products may be available through US Life. Products may not be available in all states and features may vary by state.
Term Life Insurance: Advertised Rate Examples for a 35-, 40- or 45-year-old person having a $250,000, $500,000 or $750,000 are for 10-year, 15-year or 20-year term life insurance policy are based on the policy information below. Preferred Plus Underwriting Class, Policy #19311, ICC19-19311, issued by AGL (see chart below for detailed rate information). Premium charges depend on evidence of insurability. Premiums increase at the end of the guaranteed term if renewed. Death benefit remains level. The policy may be contested for two years from date of issue for material misstatements or omissions on the application. Policy is limited to return of premium paid in the event of suicide within first two years. In New York State, term life insurance is available through US Life, Policy # 19311N.
$250,000 coverage at a Preferred Plus Rate
$500,000 coverage at a Preferred Plus Rate
$750,000 coverage at a Preferred Plus Rate
Highly Rated Insurance Carriers: Every life insurance company that AIG Direct represents has been rated A- to A+ by A.M. Best for financial strength, which means they have earned one of four of the highest ratings out of 13. A.M. Best is an independent rating organization that assigns ratings measuring financial strength or claims-paying abilities with ratings from A++ (Superior) to F (in Liquidation). They consider factors such as overall operating performance, asset quality, financial flexibility, and capitalization. These ratings are current as of 01/15/2021. Each company's policies have their own terms, exclusions, limitations, and reductions for keeping them in force.
- American General Life Insurance Company - A.M. Best Rating: A
- Gerber Life Insurance Company - A.M. Best Rating: A
- Globe Life and Accident Insurance Company - A.M. Best Rating: A
- Prudential Life Insurance Companies - A.M. Best Rating: A+
- Transamerica Life Insurance Companies - A.M. Best Rating: A
- Mutual of Omaha Insurance Company - A.M. Best Rating: A+
Guaranteed Issue Whole Life Disclosures
USA PATRIOT ACT (This notice is printed in compliance with Section 326 of the USA Patriot Act).
IMPORTANT INFORMATION ABOUT PROCEDURES FOR APPLYING FOR AN INSURANCE POLICY OR ANNUITY CONTRACT.
To help the government fight the funding of terrorism and money laundering activities, federal law required all financial institutions including insurance companies, to obtain, verify, and record information that identifies each person who opens an account, including an application for an insurance policy or annuity contract. What this means for you: When you apply for an insurance policy or annuity contract, we will ask your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or identifying document.
Disclosures Applicable to:
- Critical Illness Accelerated Death Benefit Rider
- Chronic Illness Accelerated Death Benefit Rider
- Terminal Illness Accelerated Death Benefit Rider
- When filing a claim for Qualifying Critical Illness under a Critical Illness Accelerated Death Benefit Rider, for Qualifying Chronic Illness under a Chronic Illness Accelerated Death Benefit Rider or for Qualifying Terminal Illness under a Terminal Illness Accelerated Death Benefit Rider, the claimant must provide to the Company a completed claim form and then-current Certification which must be received at its Administrative Center.
- If a benefit under the Critical Illness Accelerated Death Benefit Rider is payable, the Company will provide the Owner with one (1) opportunity to elect a Critical Illness Accelerated Benefit Amount as to the occurrence of the Qualifying Critical Illness in question. To make such an election, the Owner must complete an election form and return it to AGL within the Election Period set forth in the rider (i.e., within 60 days of the owner’s receipt of the election form).
The Company will not provide a later opportunity to elect a Critical Illness Accelerated Benefit Amount under a Policy as to the same occurrence of a Qualifying Critical Illness.
- If a benefit under the Chronic Illness Accelerated Death Benefit Rider or under the Terminal Illness Accelerated Death Benefit Rider is payable, the Company will provide the Owner with an opportunity to elect a Chronic Illness Accelerated Benefit Amount as to the Qualifying Chronic Illness in question or to elect a Terminal Illness Accelerated Death Benefit Amount as to the Qualifying Terminal Illness in question, as applicable. To make an election, the Owner must complete an election form and return it to AGL within 60 days of the Owner’s receipt of the election form.
- Under certain circumstances where an insured’s mortality (i.e.,our expectation of the insured’s life expectancy) is not significantly changed by a Qualifying Critical Illness or a Qualifying Chronic Illness and, notwithstanding the Minimum Accelerated Benefit Amount provision, the accelerated benefit may be zero.
- See your policy for applicable requirements concerning claim and election forms for accelerated death benefits.
- Benefits payable under an accelerated death benefit rider may be taxable. Neither American General Life Insurance Company nor any agent representing it is authorized to give legal or tax advice. Please consult a qualified legal or tax advisor regarding questions concerning the information and concepts contained in this material.
- Generally, we will send you an IRS Form 1099-LTC if you receive an accelerated death benefit on account of a Chronic Illness or a Terminal Illness. We will send you an IRS Form 1099-R if you receive an accelerated death benefit on account of a Critical Illness.
The sum that will be included in Box 2 (Accelerated death benefits paid) of IRS Form 1099-LTC or in Box 1 (Gross distribution) of IRS Form 1099-R will be the actual sum you received by check or otherwise minus any refund of premium and/or loan interest included with our benefit payment plus any unpaid but due policy premium, if applicable, and/or pro rata amount of any loan balance.
- The maximum amount of life insurance death benefits that may be accelerated as to an Insured Person under all accelerated benefit riders is the lesser of the existing amount of such death benefits or a lifetime maximum of $2,000,000.
- See your policy for details.
NOT Long-Term Care Insurance
This is a life insurance benefit that also gives you the option to accelerate some or all of the death benefit in the event that you meet the criteria for a qualifying event described in the policy. This policy or certificate does not provide long-term care insurance subject to California long-term care insurance law. This policy or certificate is not a California Partnership for Long-Term Care program policy. This policy or certificate is not a Medicare supplement policy
An accelerated death benefit such as the Chronic Illness Accelerated Benefit Rider and long-term care insurance provide very different kinds of benefits:
Generally, an accelerated death benefit is a rider to or other provision in a life insurance policy that permits the policy owner to accelerate some or potentially all of the death benefit of a life insurance policy if the insured meets the definition of having a chronic illness as defined in the rider or policy provision. Acceleration of death benefits and payments under such an accelerated death benefit will reduce the death benefit of the policy and reduce other policy values as well, potentially to zero. If the entirety of the insurance amount is accelerated, the policy terminates.
A Long Term Care insurance policy is any insurance policy, certificate, or rider providing coverage for diagnostic, preventive, therapeutic, rehabilitative, maintenance, or personal care services that are provided in a setting other than an acute care unit of a hospital. Long-term care insurance includes all products containing any of the following benefit types: coverage for institutional care including care in a nursing home, convalescent facility, extended care facility, custodial care facility, skilled nursing facility, or personal care home; home care coverage including home health care, personal care, homemaker services, hospice, or respite care; or community-based coverage including adult day care, hospice, or respite care. Long-term care insurance includes disability based long-term care policies but does not include insurance designed primarily to provide Medicare supplement or major medical expense coverage.
If you are interested in long-term care, nursing home or home care insurance, you should consult with an insurance agent licensed to sell that insurance, inquire with the insurance company offering the accelerated death benefits, or visit the California Department of Insurance Internet Web site (www. insurance.ca.gov) section regarding long-term care insurance.
If you choose to accelerate a portion of your death benefit, doing so will reduce the amount that your beneficiary will receive upon your death.
Receipt of accelerated death benefits may affect eligibility for public assistance programs, such as Medi-Cal or Medicaid. Prior to electing to receive the accelerated death benefit, you should consult with the appropriate social services agency concerning how receipt of accelerated death benefits may affect that eligibility.
If the policy terminates, the Chronic Illness Accelerated Death Benefit Rider will also terminate.
LTC expense reimbursement vs. ADB benefits are paid without receipts. LTC benefits are based on benefit levels and a pool of money selected at the time of purchase, and ADB benefits depend on the life policy value. ADB benefits will reduce the death benefit that the policyholder’s heirs will receive, and the use of the ADB proceeds is unrestricted, whereas LTC benefits will not reduce the death benefit that the policyholder’s heirs will receive and the policyholder must use LTC benefits for LTC services.
Accelerated Access Solution (AAS)
The Accelerated Access Solution (AAS) is an optional living benefit rider that is available on the insurance policy issued by American General Life Insurance Company in the state of California. The Accelerated Access Solution is a life insurance rider that accelerates a portion of a policy’s death benefit when an insured meets the health impairment criteria set forth in the rider.1 Control over how money is spent is up to the policy holder; there are no receipts required and no restrictions on what the money is used for once the policy owner has been certified as eligible to receive AAS benefits. Benefits are paid directly to the policyholder for as long as the criteria are met, or until the AAS benefit amount is exhausted, whichever occurs first. Acceleration of death benefits and payments under such an accelerated death benefit will reduce the death benefit of the policy and reduce other policy values as well, potentially to zero. If the entirety of the insurance amount is accelerated, the policy terminates.
Multiple benefit payment options are available with two options for monthly disbursement at the time of purchase:
- % of AAS benefit, or the applicable maximum monthly amount if less
- % of AAS benefit, or the applicable maximum monthly amount if less than themaximum monthly amount is $10,000 increased annually by 4% until the time of claim.
- ternatively, you have the option at the time of claim to receive the acceleratedbenefit in a lump sum payment in lieu of the benefits payable under the monthlypayment option you selected. Such lump sum benefit will be subject to an actuarialdiscount that is determined by the company at the time you become eligible for benefits under the rider.2
Once the insured meets the health impairment criteria and benefits have been approved for payment, they may select their disbursement. There is a maximum benefit payable under the monthly disbursement option that we’ll notify the insured of at their time of claim. The insured may also select a smaller amount than the maximum monthly benefit. A lump sum option is available as well; which can be substituted for monthly benefits.
There are no restrictions or limitations on the use of the accelerated death benefit proceeds under the Chronic Illness Accelerated Death Benefit Rider. The accelerated benefits payable under this rider are generally intended for favorable tax treatment under Section 101(g) of the Internal Revenue Code. There may be tax consequences in some situation in accepting an accelerated benefit payment amount, such as where payments exceed the per diem limitation under the Internal Revenue Code. You should consult your personal tax advisor to assess the impact of this Benefit prior to accepting the Benefit.
- Insured must be certified as chronically ill by a Licensed Health Care Practitioner and meet all eligibility requirements and the condition need not be permanent.
- The Company will determine the actuarial discount applicable to a given lump sum payment using factors including, but not limited to the Company’s assessment of the expected future mortality of the Insured and an interest rate determined as described in the rider.