AIG: Protection IUL Will Be Upgraded - Value+ Protector III
On July 25, 2022, AIG is launching a new version of their flagship protection IUL—Value+ Protector III. It replaces Value+ Protector II with a few exciting upgrades that make this protection IUL more attractive and competitive as your go-to product to help clients look to the future with confidence.
- More competitive premium
- Improved target premium
- New Enhanced Surrender Value Rider (Guaranteed Return of Premium)
- Automatically included at no additional cost
- Provides two opportunities (at year 20 and 25) for clients to receive enhanced cash surrender value when fully surrendering the policy*
- New proprietary index option: Franklin Quality Dividend Index (FQD) – Not available in New York
- Uses a rules-based approach to dynamically combine high dividend-paying stocks and stocks with strong price stability and cash
- Helps capture the upside potential of stocks while delivering a more consistent return profile in changing markets100% participation rate with high account value enhancement (AVE) rate of 0.85%
- Replaces the S&P 500 Participation Account
- Compliments existing offerings of attractive index account options (MLSB, PIMCO, S&P 500)
- Updated rate increases and adjustments
- Cap/par rates and AVE – See Life interest rates
- Montana rates will be changed to sex distinct
Paper & Ticket
- New product is effective July 25, 2022.
- Applications received in the Home Office July 25, 2022 and later will automatically be given the new product.
- Reissue requests to new plan will NOT be honored.
- New applications submitted to replace existing inforce coverage with the new product will not be honored within 90 days of the existing coverage going inforce.
iGo Full e-Application
- New Case: Only the new Value+ Protector III will be available for agents in iGo Full eApp after July 23, 2022, 12:00 AM CDT.
- Locked Case: For locked cases, agent will be permitted to complete the eSignature and eSubmit process.
- Cases locked before July 23, 2022, 12:00 AM CDT must be submitted within 15 business days.
- Unlocked Cases on or after July 23, 2022, 12:00 AM CDT must apply for the new Value+ Protector III; If needed, see PDF Retrieval Information that follows.
PDF retrieval for older cases:
- For old Value+ Protector II cases started before July 23, 2022, or unlocked after July 22, 2022, the following message will display: “Please begin a new case in WinFlex and eApply to iGo eApp. You may retrieve any application data previously entered into the Old case by launching the PDF from the My Cases screen.”
Please give us a call at 1-800-792-6795 if you have any questions, or if you need assistance on your next case!