AIG American General has said that with these enhanced offerings, consumers can now choose a single life policy or a survivor policy, creating more options to meet their specific needs and situation.

AIG Elite Global Plus and AIG Elite Global Survivor each provide death benefit protection, as well as the opportunity for cash value accumulation through index interest crediting based in part on the performance of three external global financial indices. Index interest is credited automatically and the two best-performing indices are overweighted. The value of each index is compared with the value at the beginning of that period.

Index interest, if any, is calculated using 75% of the return of the best performing index after adjustment for the participation rate, plus 25% of the return of the second-best performing index after adjustment for participation rate. The third-best performing index over the period is not used in calculating the amount of index interest to be credited.

The company has said that these new enhancements allow for policy owners to choose one of three allocation options, including a five-year index account and one-year index account or a declared interest account. Policy owners can choose monthly index accounts to allow for premium payment flexibility. In addition, policy owners have the choice of purchasing a single life policy or a survivor policy which will create options for optimal funding strategies.

Rod Rishel, vice president and universal life business leader for AIG American General, said: "When AIG Elite Global Interest Universal Life (IUL) was introduced in 2006, it was unmatched in the life insurance industry. The plus and survivor versions of this groundbreaking concept will help us maintain our competitive edge in the index universal life marketplace by offering the additional features our customers desire."