American General Life Insurance Company is introducing the Emerging Edge equity indexed annuity.
American General, Houston, a unit of American International Group Inc., New York, says the product is a single-premium, deferred index annuity
The annuity offers purchasers a choice of 4 interest crediting accounts, and holders can reallocate funds among the accounts each year without paying withdrawal charges or facing market value adjustments.
Annuity holders can start taking up to 10% of the annuity value each year starting in the second contract year without paying a withdrawal charge for facing a market value adjustment.