April 16, 2014 9:51 PM ET

Insurance

Company Overview of American General Life Insurance Company, Inc.

Company Overview

American General Life Insurance Company, Inc. offers life insurance products for the individuals. It provides universal, index universal, variable universal, whole life, and term life insurance products. The company was founded in 1960 and is based in Houston, Texas. American General Life Insurance Company, Inc. operates as a subsidiary of AGC Life Insurance Company.

PO Box 4373

Houston, TX 77210

United States

Founded in 1960

Phone:

800-231-3655

Fax:

713-831-3028

Key Executives for American General Life Insurance Company, Inc.

Chief Executive Officer of AIG and President of AIG
Age: 69
Chief Executive Officer of Domestic Life & Retirement Services and President of Domestic Life & Retirement Services
Age: 56
Compensation as of Fiscal Year 2013.

American General Life Insurance Company, Inc. Key Developments

American General Life Companies Announces Availability of Ag Secure Survivor GUL II

American General Life Companies announced the availability of AG Secure Survivor GUL II, individual joint and last survivor guaranteed universal life insurance featuring more Optionality(SM) -- flexibility to adapt the policy to evolving needs in the future. Among the key benefits of AG Secure Survivor GUL II are: Guaranteed death benefit and premiums, which help provide protection that can be relied upon, even during changing needs, economic conditions and tax environments; The ability to reduce the death benefit and premiums in future years without losing guarantees; A no-cost Enhanced Surrender Value Rider which allows a potential for a return of up to 100% of premiums paid; Guaranteed tabular cash values that provide attractive flexibility for customers; Option to extend coverage beyond the original maturity date, with some conditions applying-One policy insures, two-people, so AG Secure Survivor GUL II is more affordable for spouses than buying two individual policies. Liquidity needs frequently arise after the second death, and AG Secure Survivor GUL II can be a valuable tool to help fund estate and gift tax obligations, or to replace assets gifted to charity. AG Secure Survivor GUL II is also a flexible way to equalize inheritances among heirs. It can provide a specified, guaranteed amount to one child to help equalize assets among several, when a business interest or other major asset is being left to only one child. Further, AG Secure Survivor GUL II can be advantageous in providing capital for business planning and succession. The product can be leveraged to provide working capital or to ensure business continuity at the death of a business owner or key employee. Indeed, with its guaranteed death benefit, guaranteed access and guaranteed cash value, AG Secure Survivor GUL II may be an optimal solution for business needs as well as for families seeking long-lasting protection, the power to ensure a legacy and the flexibility to exercise more control over their life insurance policy as their individual circumstances and the economic climate evolve.

American General Life Insurance Company Offers AG Accident Choice Plus

American General Life Companies announced AG Accident Choice Plus(SM), an insurance product that provides benefits, regardless of other health coverage, for a wide range of emergency medical costs -- from emergency room visits to physical therapy to diagnostic exams, even surgery -- related to accidental injuries. Available riders offer coverage in the event of critical illness, accidental death and dismemberment, and inability to work due to an accidental injury. This product is issued by American General Life Insurance Company. The highlights of AG Accident Choice Plus include: No coordination with major medical insurance -- the policy pays benefits regardless of, and in addition to, proceeds from any other coverage. Dollar-for-dollar reimbursement up to the policy amount for covered medical expenses made directly to the policy holder -- not to medical providers. No network restrictions -- clients can access any hospital, physician or medical facility. No waiting period to use benefits -- claims can be submitted immediately. No lifetime limit -- no matter how many accidents occur. Multiple payment options, including electronic funds transfer (EFT) and credit card. Critical Illness Rider -- provides a one-time, lump sum payout on initial diagnosis of invasive cancer, heart attack or stroke. Accidental Death & Disability Rider -- provides a payout for disability income in the event of an accidental death or dismemberment. Accidental Disability Income Rider -- provides a lump sum payment as protection against loss of income in the event of disability due to an accident. Benefits are paid regardless of other disability coverage, such as worker's compensation or Social Security. Clients can choose accident coverage in benefit amounts of $5,000 to $25,000 (in $5,000 increments), with three options of annual deductible ($100, $300 or $500). The deductible only has to be satisfied once per calendar year for each covered individual -- and with a family plan, after out-of-pocket expenses reach twice the chosen deductible, additional claims for the year are paid from the first dollar, up to the maximum policy benefit. Eligible expenses (up to the calendar year maximum benefit as a result of a covered accident) include: emergency room and urgent care center visits; hospital, surgery and physician charges; physical therapy; ambulance; major diagnostic exams; X-rays; prosthesis; and drugs administered in a hospital or urgent care center. Refer to the Outline of Coverage for detailed information regarding benefits and exclusions.

American General Life Insurance Company Launches Innovative New Product

AGLA announced an innovative addition to its highly differentiated Quality of Life..Insurance(R) suite of products, offered by the Career Distribution and New Career sales channels. AGLAchoice(R) Guarantee Plus is permanent, universal life insurance issued by American General Life Insurance Company that can provide protection for a customer's entire lifetime. Like all life insurance, it's designed to provide for loved ones in the event of a premature death. Yet AGLAchoice(R) Guarantee Plus also offers customers the option to receive a living benefit to help supplement their retirement income with the newly-developed CustomerChoice(SM) Lifestyle Income Rider.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
December 20, 2013
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Private Placement
September 16, 2013
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Merger/Acquisition
August 28, 2013
American General Life Insurance Company, Inc., Baldwin Park Office Complex
 

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