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American General has recognized that consumers wanted long-lasting protection and more financial control during uncertain economic times – and has introduced the Lifestyle Income Solution Rider on their Secure Lifetime GUL product. This rider offers clients the ability to take guaranteed income, without affecting the No-Lapse Guarantees on the death benefit. The cash value begins to accumulate as early as year ten of the policy, which offers flexibility to access cash sooner while still maintaining a death benefit guarantee.

Key Selling Points:

• Clients can receive guaranteed income while still living
• Pay out of a monthly guaranteed income stream for 10 years
• The option to receive a living benefit to help supplement retirement income
  • Only requirement to access the benefit is to meet the waiting period (i.e. clients do not have to qualify for benefit)
  • Client can use income stream for anything
  • Client can direct when to start and stop the income stream
• No additional underwriting required

Sweet Spots / Target Market:

• Lifestyle Income Solution is based on the guaranteed face of the contract (not current cash)
• Can be used to provide a monthly income benefit without the accident and health triggers of other chronic/critical illness riders
• Can be used as a backstop to hedge the risk of outliving retirement assets due to (unplanned) longevity

Here are Marketing and Sales Ideas/Materials detailing the product and features.  For more information, contact your CPS Life Sales Rep.

Written By: Sean Farrell

Phone: (949) 863-0700 ext.161

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