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AG Secure Lifetime GUL II Insurance



AG Secure Lifetime GUL II

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Case Study

AG Secure Lifetime GUL II - Protection with Optionality and AG Asset Protector

AG Secure Lifetime GUL® II guaranteed universal life insurance combines long-term financial security with the flexibility to adapt to changing needs. Now including Optionality® – a unique package providing you with life insurance that offers long-term protection and maximum flexibility. You select the coverage amount, the duration of the death benefit guarantee, and how long you want to pay premiums. You can build guaranteed cash value that can be accessed through future withdrawals.1


AG Asset ProtectorSM, available on AG Secure Lifetime GUL II policies, provides a unique package of living benefits that allow access to death benefits while living. The AG Asset Protector product suite includes two life insurance riders: the Accelerated Access SolutionSM which allows income tax free access to death benefits if diagnosed with a chronic illness, plus the Lifestyle Income SolutionSM which allows access to your death benefit for any reason after age 85.



AG Secure Lifetime GUL II is an ideal life insurance solution if you:


  • Need the death benefit protection of life insurance
  • Are age 40-75 and in reasonably good health
  • Are risk averse and want strong guarantees
  • Need to provide cash or replace income following your death
  • Seek a policy that can adapt to changing circumstances
  • Seek additional protection against outliving your income

Benefits of AG Secure Lifetime GUL II


AG Secure Lifetime GUL II provides long-term guarantees to protect your policy from lapse. Unlike other products of its kind, it can also build substantial long-term guaranteed cash value, and to adapt to future needs by allowing policyowners the choice to:


 • Choice of coverage amount, duration of death

   benefit, with length of time you pay premiums

   based on individual needs¹,²

• Guaranteed cash value, independent of

   interest-rate fluctuations

• Opportunity to build cash value, accessible by


1 Guarantees are subject to the claims-paying ability of the issuing insurance company.

2 Subject to the policy’s terms and conditions.

3 Partial withdrawals or loans will reduce the death benefit and cash value and could reduce the duration of coverage. Partial withdrawals may be taxed as regular earnings. Policy owners should consult a tax advisor to determine if a transaction is a taxable event.

  • Optionality in action

         AG Secure Lifetime GUL®  II provides life insurance with lasting guarantees and protection. Unlike other products of its kind, it can also build substantial long-term guaranteed cash value, and the ability to use your policy to meet your changing needs. Optionality® features allow you to:

    • Create an additional income stream in retirement while maintaining a guaranteed death benefit
    • Reduce the death benefit and premium while maintaining the original coverage guarantee period
    • Withdraw cash value from the policy yet still maintain the original coverage guarantee period
    • Terminate coverage and surrender the policy for cash value
    • Exchange the policy for one that better suits the current need
    • Living benefit riders: Accelerated Access Solution and Lifestyle Income Solution
    • New Enhanced Surrender Value Rider (return of premium feature)


  • Accelerated Access Solution


    AG Asset Protector  Living Benefits Rider Package Includes:


    • Multiple benefit payment options -  three options available including an IRS maximum per diem amount which provides a form of inflation protection for the policy owner’s benefit1
    • Waiver of monthly deduction – policy payments stop for base policy and riders as long as policy owner meets the chronic illness requirement2
    • Flexible options with total benefit amount – select any amount between 50% -100% of base policy death benefit
    • No receipts required – benefits paid irrespective of actual costs incurred
    • Guaranteed benefits – no increases in rider costs or decreases in benefits paid based on changing market conditions
    • Not a “use or lose it” policy – benefits are paid no matter what . . . either when the chronic illness requirement is met or via death benefits
    • Control over how money is spent – up to the policy holder how the funds are used,  not restricted via the policy
    • No waiting period – chronic illness benefits are available as soon as policy is issued (90 day elimination  period applies)3



    1 IRS caps the maximum daily rate each year. The 2014 maximum per diem is $330/day or $9,900/month. Subsequent years may be higher.

    2 Insured must be certified as chronically ill by a licensed physician and meet all eligibility requirements.

    3 90 consecutive days must expire before the Insured becomes eligible for Accelerated Benefit payments.  See outline of coverage for details.


  • Lifestyle Income Solution

    • Optional, premium-paying rider provides guaranteed withdrawal benefits (regardless of the cash surrender value under the policy)
    • Protects against the possibility of outliving retirement income and preserves standard of living throughout senior years
    • Provides the option to maximize income during early retirement years while protecting against an income shortfall later in life
    • Maximum issue age of 70 available on all underwriting classes
  • Couple planning their dream home

    Problem: Matt and Ginger are in their 50s. They are paying for both their current residence and some property on which they are planning to build a retirement home. If Matt dies, he wants to ensure that Ginger is able to manage expenses. The couple also want to make sure their income will last throughout their retirement.


    Matt and Ginger’s solution1

    • Matt purchases AG Secure Lifetime GUL® II, a flexible premium, adjustable life insurance policy, and adds the Lifestyle Income SolutionSM.

                 - Matt purchases a $500,000 policy with an annual premium of $8,8162 to his planned retirement at age 68, naming

                    Ginger as the beneficiary.

                  - When Matt reaches retirement, and ceases to pay premiums, his policy’s guaranteed death benefit continues to age



    Optionality® in action


    • If Matt dies, the tax-free proceeds of the AG Secure Lifetime GUL® II policy are sufficient for Ginger to pay off the debt on both the current home and the retirement home, and provide for other expenses.
    • By age 78, the AG Secure Lifetime GUL® II policy will have a guaranteed cash value of $40,403, which can be accessed if necessary.
    • Matt may begin accessing his death benefit at age 85 via the Lifestyle Income Solution – which could allow him to withdraw $2,075 per month for the next 10 years. This would decrease his death benefit by half, but the remaining amount of $250,000 would still be guaranteed.3
    • Matt has the peace of mind that Ginger will not be burdened with heavy debt should something happen to him. He also knows he has the flexibility to access cash values in the future, if necessary, without risk of losing long-term protection.


    1 The case studies presented are not actual and are for illustrative purposes only.


    2 Quoted values based on male, issue age 53, Preferred Plus, $500,000 level death benefit guaranteed to age 100. Quote dated 9/24/12 for the state of Texas.


    3 Withdrawals under the Lifestyle Income Solution must begin on a policy anniversary. Certain payment and other conditions must be met for such withdrawals to be available at that time, including, but not limited to, that Matt pay enough premiums so that, at age 85, no further payments will be necessary for the policy to continue to his age 100.


  • Parents protecting a special needs child

    Problem: Eric and Cindy Parker are in their 40s, and have a 7-year-old autistic daughter, Taylor. Because it’s a commitment that may last beyond their lifetime, they need a long-term solution that covers their need for security along with Taylor’s need for care after their death.


    Eric and Cindy’s solution1

    • Eric2 and Cindy3 each purchase AG Secure Lifetime GUL II, with a guarantee that lasts to age 121

     - Eric purchases a $1,000,000 policy with an annual premium of $7,312 to his age 121

     - Cindy purchases a $250,000 policy with an annual premium of $1,275 to her age 121

     - The Parkers establish a trust for the benefit of Taylor, in the event that both parents die prematurely

    Optionality® in action

    • The Parkers collectively purchased $1,250,000 of guaranteed death benefit protection.
    • If either Eric or Cindy die unexpectedly, the AG Secure Lifetime GUL II policy will allow the survivor to receive the funds necessary to care for Taylor.
    • Income from the trust will continue for Taylor’s life after both parents die.
    • Guaranteed cash value accumulation can be accessed if the need arises, resulting in an adjusted guaranteed death benefit and guaranteed premium. For example, at Eric’s age 85, they would be able to access over $170,000 of combined available cash value accumulation, if needed.

    1 The case studies presented are not actual and are for illustrative purposes only.


    2 Quoted values based on male, issue age 45, Preferred Non-Tobacco, $1,000,000 level death benefit guaranteed until age

        121. Quote dated 09/23/13 for the State of Texas.


    3 Quoted values based on female, issue age 42, Preferred Plus, $250,000 level death benefit guaranteed until age 121.

        Quote dated 09/23/13 for the State of Texas



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