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AIG Premium Financing - providing premium dollars for
illiquid clients.
Liquidity
Easy access to your funds.
If you should need access to your funds, the insurance company's
practice is to allow you to make free systematic withdrawals
of interest ($50 minimum) after 30 days from the policy date
on a monthly, quarterly, semiannual, or annual basis.1
10% free withdrawal.2
After the first policy year, you are allowed one annual free
withdrawal ($250 minimum) equal to 10% of your annuity value
(less any systematic withdrawals taken) as of the last anniversary
date. Withdrawals made during the first nine years in excess
of the free withdrawal amounts will incur an early withdrawal
charge and will be subject to a market value adjustment. The
early withdrawal charge decreases monthly after the first
year:
Years
from
Policy Date |
1
|
2
|
3
|
4
|
5
|
6
|
7
|
8
|
9
|
Withdrawal
Charge3 |
9%
|
8%
|
7%
|
6%
|
5%
|
4%
|
3%
|
2%
|
0%
|
|
(% of amount withdrawn
in excess of free withdrawals)
|
Market Value Adjustment.
A market value adjustment (MVA) will apply to any withdrawal
(in excess of permitted free amounts) made during the first
nine years you own your UltraMYG annuity. This MVA may be
positive or negative. After nine years, withdrawals will not
incur early withdrawal charges and the MVA will have no effect.
The MVA is an amount determined by the relationship
of an index rate4 determined
as of the policy date to an index rate4
determined at the time of withdrawal or cancellation. Generally,
if interest rates rise, the MVA will decrease your contract
value, and if interest rates fall, the MVA will increase your
contract value.
Interest Rates
Multi-year guarantee.
Your UltraMYG annuity will earn a competitive current interest
rate on the initial premium that is set by AIG Annuity Insurance
Company (formerly known as American General Annuity Insurance
Company) when your policy is issued. AIG Annuity guarantees
the rates for the multi-year period.5
Current rate guarantee. 7.6% first
year, 3.6% years 2-6. This rate is believed to be an accurate
representation of the product. No warranty is made and it
is subject to change at any time by the carrier. Call for
current rates prior to quoting.
Guaranteed rate of 3%. When your guaranteed
rate period ends, a new competitive rate will be set by AIG
Annuity. Regardless of interest rate fluctuations, you are
always guaranteed at least 3% on your entire annuity balance.
Daily interest credit. Interest is
credited daily to achieve an annual yeild equal to the rate
declared (if no withdrawals are taken).
Ages and Amounts
Issue ages.
The UltraMYG annuity is available to those age 85 and younger
unless you are contributing to a tax-qualified plan, like
a traditional IRA; then you must be age 70 or younger.
Premium amounts. The minimum premium
required to purchase an UltraMYG annuity is $5,000.
Features and Benefits
No up-front sales charges or administrative
fees. With the UltraMYG annuity,
you pay no front-end sales charges or administrative fees.
So, 100% of your money goes to work earning interest for you
right away.
Tax-deferred interest. The interest
your UltraMYG annuity earns is not subject to federal tax
until it's withdrawn.6
Tax-favored retirement income. When
you elect to "annuitize," your UltraMYG annuity
can provide you with income through a series of payments guaranteed
by AIG Annuity for the rest of your life. Annuitization allows
you to receive regular income, only a part of which is taxable.
The rest is considered return of your original premium and
is not taxed.7
Extended care rider (not available
in some states). Early withdrawal charges will be waived if
the annuitant is confined to a qualifying hospital or extended
care facility beginning after the first policy year and for
90 consecutive days or longer. This valuable benefit commences
one year after the policy date and is available until age
75.
Death benefit. Upon the death of the
owner, the annuity's cash withdrawal value (withdrawal value
without the MVA) is paid directly to the beneficiary as a
lump-sum payment. If a life payout, or at least a five-year
certain payout option is selected, the annuity value (without
the MVA) will be appliled to the payout. This benefit generally
avoids the expense, delay, and frustration of probate. THe
benefit is guaranteed to be at least equal to your purchase
premium, less any prior withdrawals.
1The company's
practice is subject to change. The value of the annuity
must not fall below $5,000.
2The 10%
free withdrawal is not subject to a market value adjustment
or early withdrawal charge.
3Percentages
shown are end-of-year charges. Percentages decrease monthly
on a pro rata basis after the first year.
4Index
rates are based on the Treasury Constant Maturity Series
published by the Federal Reserve.
5The multi-year
guarangeed rate period may vary from time to time. See your
policy schedule page for your multi-year guaranteed rate
period.
6Unless
your annuity is a Roth IRA, withdrawals will be treated
for federal tax purposes as coming first from earnings,
taxable as ordinary income, and as a return of principal
only after earnings are exhausted. Withdrawals made prior
to age 59½ may be subject to a 10% federal tax penalty.
7For tax-qualified
plans, generally the entire withdrawal amount will be subject
to taxes.
The AIG UltraMYG annuity is select states.
For licensing
information:
All
AIG products (life & annuity) can be appointed through
the contract below:
AIG Broker Appointment, Contracting Paperwork & Instructions
AIG
Product Portfolio
AIG
How to Submit Business
TheUSBroker
AIG info, fax numbers and COVER SHEET
AIG
Premium Financing: Providing premium dollars for
illiquid clients
FOLLOW
THESE STEPS TO GET PAID
Jim Griffin, CEO
TheUSBroker Annuity Representative
phone: 1- 877-341-3342 toll free
fax: 1- 315-655 -4784
e-mail: jgriffin@theusbroker.com
For AIG
marketing information:
Phone:
1-800-424-4990 x 3210
^^ AIG is the leading U.S.-based
international insurance and financial services organization
and the largest underwriter of commercial and industrial insurance
in the United States. Its member companies write a wide range
of commercial and personal insurance products through a variety
of distribution channels in approximately 130 countries and
jurisdictions throughout the world. AIG's global businesses
also include financial services and asset management, including
aircraft leasing, financial products, trading and market making,
consumer finance, institutional, retail and direct investment
fund asset management, real estate investment management,
and retirement savings products. American International Group,
Inc.'s common stock is listed on the New York Stock Exchange,
as well as the stock exchanges in London, Paris, Switzerland
and Tokyo.
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