Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance

Mid-Market Suite Rolls Out

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

American General Life Companies has co-developed a “suite” of life, income, annuity and Roth individual retirement account products for mid-market customers.

The Income Advantage Suite is a package that combines term life insurance with an optional income rider along with an index annuity that can be structured as Roth IRA, says American General, Houston.

The other co-developer, HBW Insurance & Financial Services Inc., Simi Valley, Calif., is a national financial services marketing organization and mid-market specialist.

The suite is a “custom label” product, in that it was designed in conjunction with, and for exclusive distribution by, HBW, says American General.

Key features:

- The term life policy pays a lump sum at death.

- The optional income rider, if selected, pays a guaranteed monthly income for up to 40 years following the insured’s death. The benefit pays in addition to the life policy lump sum benefit.

- The index annuity is a tax-deferred contract for consumers who want to build tax-deferred accumulation.

- The annuity can be structured as a Roth IRA for consumers who are seeking tax-free income in retirement.

The issuing companies are American General Life Insurance Company and The United States Life Insurance Company in the City of New York.

The guarantees are subject to the claims-paying ability of the issuing insurance company, says American General.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.