Index Universal Life Products
When the first spouse of a married couple passes away, many things change. But it's when the second spouse dies that many estate obligations arise. Obligations such as estate taxes and other settlement costs can significantly dilute the net amount that passes to your designated heirs. Elite Survivor IndexSM is a last survivor life insurance policy that pays its death benefit upon the second death. It provides liquidity just when it's needed most.
But Elite Survivor Index is more. It's a universal life insurance policy that can accumulate cash value while one or both insureds are living. Cash values that can be accessed in an emergency or used to reduce or eliminate premiums at some point.
Policy cash values in Elite Survivor Index can be allocated among three interest-crediting accounts that fit you and your needs.
- Declared interest account with interest declared annually by the company, subject to a guaranteed 3.0 percent minimum annual interest rate
- Index interest account with interest crediting linked to the annual growth of the S&P 500®1 subject to an annual cap (never less than 0 percent) and a minimum annual guaranteed interest rate of 1.0 percent, regardless of index performance
- Index interest account with interest crediting linked to the annual growth of the S&P 500 subject to a participation rate (never less than 0 percent) and an annual minimum guaranteed interest rate of 2.0 percent, regardless of index performance
- Competitively priced, joint and last survivorship fixed index universal life protection for estate and business needs
- Ability to allocate premiums among Declared Interest Account, Cap Rate Index Account and Participate Rate Index Account
- Interest crediting based in part on the one year point-to-point growth in the S&P 500 when either the Cap Rate Index Account or the Participation Rate Index Account is selected
- Issue Ages: 20 - 90
- Minimum Death Benefit: $250,000
- Index Interest Rider with Cap Rate - Annual point-to-point index interest account with an index cap.
- Index Interest Rider with Participation Rate - Annual point-to-point interest account with a participation rate
- Level Term - Offers lower premiums and reduces target premiums proportionately. (Can only be added at policy issue)
- Four-Year Term - Provides last survivor term insurance coverage during the first four policy years. The additional death benefit is equal to 125 percent of the policy's initial specified amount. This rider can only be added at issue and terminates after four (4) years
- Overloan Protection - Ensures your policy won't lapse because of a large outstanding loan balance
- Individual ART3 - Provides term insurance on the life of either or both individual insureds covered by the base policy
- Option to Extend Coverage4 - Allows the extension of coverage beyond the original maturity date
1 “S&P 500®" is a trademark of Standard & Poor’s and has been licensed for use by American General Life Insurance Company and The United States Life Insurance Company in the City of New York.
2 See the riders for complete details. There may be a charge for each rider selected. Adding or deleting riders and increasing or decreasing coverage under existing riders can have tax consequences. Policy owners should consult a qualified tax advisor.
3 This rider is not available in the state of New York.
4 Policies may be subject to tax consequences when continued beyond the maturity date. The policy may not qualify as life insurance under Internal Revenue Code after age 121. Policy owners should consult a qualified tax advisor before electing this option.
Policies issued by:
2727-A Allen Parkway, Houston, TX 77019
Policy Form Number 08327
Index Interest Rider with Cap Rate Form Number 08211
Index Interest Rider with Participation Rate Form Number 08210
Level Term Rider Form Number 08692
Four-Year Term Rider Form Number 01904
Overloan Protection Rider Form Number 07620JT
Individual ART Rider Form Number 90295
70 Pine Street, New York, New York, 10270
Policy Form Number 08327N
Index Interest Rider with Cap Rate Form Number 08211N
Index Interest Rider with Participation Rate Form Number 08210N
Level Term Rider Form Number 08692N
Four-Year Term Rider Form Number 01904N
Overloan Protection Rider Form Number 07620JTN
The underwriting risks, financial and contractual obligations and support functions associated with products issued by American General Life Insurance Company (AGL) or The United States Life Insurance Company in the City of New York (USL) are each insurer's own responsibility. 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 and USL. USL is authorized to conduct insurance business in New York. Policies and riders not available in all states.
