AIG Life & Retirement Brings Consumers a New Level of Customization for Polaris Variable Annuities with Greater Flexibility, Personalization and Control

Business Wire 17-Jun-2019 10:00 AM

AIG Life & Retirement, a division of American International Group, Inc. (NYSE:AIG), today announced new enhancements for select Polaris Variable Annuities designed to provide policyholders with greater flexibility, personalization and control for these retirement accumulation and income solutions.

The new Polaris Income Plus Daily Flex and Polaris Income Plus Flex offer policyholders a new level of customization with enhanced lifetime income rates, greater feature flexibility and investment flexibility. With Income Plus Daily Flex, policyholders can choose AIG's new Build Your Own Allocation open architecture option to design their own customized allocation. Working with a financial professional, policyholders can select from 77 portfolios across 12 different asset classes to build a variable annuity portfolio that matches their investment objectives, risk tolerance and financial plan.

Additionally, the new features provide policyholders more flexibility and personalization with the ability to:

• add money to the contract after the first contract year
• take early withdrawals if needed without locking in lifetime withdrawal rates ¹
• make important income benefit changes to address changing life events (such as marriage, divorce or death of a spouse) and changing income needs or preferences at retirement.

"We take our role as the leading provider of annuity solutions in the United States seriously and we're proud to bring greater flexibility, personalization and control to Polaris – our flagship variable annuity product that has been helping customers achieve more secure retirements for over 25 years," said Todd Solash, President, Individual Retirement at AIG. "Planning for retirement is a long journey, and the future always holds change. Our retirement income solutions are designed with customer and advisor feedback in mind, and our new enhancements help policyholders adjust for life. With these new options, we can meet our customers' evolving needs and help their financial advisors tailor their retirement income accordingly."

Polaris Variable Annuities are long-term investments that bring together a combination of growth potential, death benefit features, and optional income protection features. These features help investors address today's retirement challenges, including market risk, longevity risk and preparing for retirements that could last four decades or more.

AIG recently announced Plan for 100, a new initiative focused on educating and empowering individuals, employers and financial advisors to help Americans prepare for longer lives and retirements. The initiative, with its 100-year theme complementing the centennial celebration at AIG, includes the launch of a new website (Planfor100.com) and podcast series to raise awareness about the impact of increased longevity and educate Americans about potential retirement income solutions.

Polaris Variable Annuities are sold by prospectus only. The prospectus contains the investment objectives, risks, fees, charges, expenses and other information regarding the contract and underlying funds, which should be considered carefully before investing. A prospectus may be obtained by calling 1-800-445-7862. Clients should read the prospectus carefully before investing.

About AIG Life & Retirement

AIG Life & Retirement, a division of AIG, brings together a broad portfolio of protection, retirement savings, investment and lifetime income solutions to help people achieve financial and retirement security. The business consists of four operating segments – Individual Retirement, AIG Retirement Services, Life Insurance and Institutional Markets – and holds longstanding, leading market positions in many of the markets it serves.

AIG Life & Retirement includes AIG member insurance companies American General Life Insurance Company (Houston, TX), The United States Life Insurance Company in the City of New York, and The Variable Annuity Life Insurance Company (VALIC), Houston, TX as well as their affiliates. Annuities are issued by American General Life Insurance Company (AGL) except in New York, where issued by The United States Life Insurance Company in the City of New York (US Life). Securities products are distributed by AIG Capital Services, Inc., member FINRA. Additional information about AIG Life & Retirement can be found at www.linkedin.com/showcase/aig-life-&-retirement.

About AIG

American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.

Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.

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¹ Reduces the Income Base and Income Credit Base proportionately

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