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AIG Updates Polaris Variable Annuities

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A unit of American Insurance Group Inc. is giving purchasers of AIG’s Polaris variable annuities an option they can use to choose from a menu of 77 different investment portfolios.

AIG Life & Retirement is making the long investment menu available through a new Polaris Income Plus Daily Flex feature.

(Related: Lincoln Financial, AIG Launch Fee-Based Annuities: Top Portfolio Products)

The new feature is aimed at consumers who are getting help from financial professionals, AIG says.

AIG is also adding another Polaris feature, the Polaris Income Plus Flex feature.

Consumers can use both of the new features to add money to a Polaris contract after the first contract year, and to make contract adjustments in response to major life changes, such as the death of a spouse, AIG says.

— Read AIG Unit Adds VA Living Benefit Optionon ThinkAdvisor.

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