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American General Unveils VUL Product

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An insurer has introduced a variable universal life insurance policy aimed at the nonqualified deferred compensation plan market.

AIG American General, Houston, a unit of American International Group Inc., New York, will be writing the new AIG Corporate Investor VUL product through American General Life Insurance Company and selling the product through the American General Life sales force.

Customers could use the policy in salary reduction plans or benefit funding arrangements, AIG American General says.

There are no surrender charges, and policyholders can choose from a menu of 44 variable investment options, AIG American General says.