The enhanced version will offer built-in death benefit with a no-lapse guarantee for 20 years or until age 80 plus upside potential and downside protection.

The new policy will also offer access to the cash value of the policy anytime after the first year of issue.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Elite Survivor Index II offers three interest-crediting accounts to fit individual needs – a declared interest account with a 2% guaranteed minimum annual interest rate, a choice between two index interest accounts with interest crediting linked to the S&P 500 with a minimum annual guaranteed interest rate of 0.25 percent, regardless of index performance.

In addition, Elite Survivor Index II will be a smart choice for consumers such as couples who need tax-advantaged supplemental retirement income, couples with children from previous marriages and who want to leave charitable gifts, grandparents who wish to leave a legacy for a grandchild, and other business partners.

AIG Global Consumer Insurance president, life insurance James Mallon said: "This is permanent life insurance with the potential for cash value accumulation, tax advantages and premium flexibility — and we believe it can serve as an appropriate solution for many family and business needs."

AIG Global Consumer Insurance vice president of product strategy and implementation Tim Heslin said: "Elite Survivor Index II provides the benefits of traditional universal life insurance along with the potential for greater growth in policy value."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

"With increased cap rates, now at 13%, and higher participation rates, now at 70%, the product offers strong upside potential for growth if the market performs well. Further, a new Choice Loan1 option allows access to the funds while they remain eligible for index interest, so this is life insurance you don’t have to die to use," he added.