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VUL Product Includes Target-Date Funds

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AIG American General has introduced the AIG Income Advantage VUL policy.

The variable universal life insurance policy offers dollar-cost averaging, automatic asset-allocation rebalancing, and access to “target date” investment options, or funds that are managed to suit the needs of holders who expect to retire around specific dates in the future, according to AIG American General, Houston, a unit of American International Group Inc., New York.

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Other features include a no-tobacco-use incentive, the company says.