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American General Life Companies Launches New Long Term Care Insurance Product

Unique LTCi Offers Features to Help Policy Holders Stay at Home Longer

HOUSTON (January 11, 2010) -- American General Life Companies (American General) announced today that it has introduced a new long term care insurance product, issued by American General Life Insurance Company. The American General LTC product features a built-in cash benefit to help cover expenses such as care from a family member; a Shared Care Benefit Rider, which creates a separate third pool of benefits that can be used by either spouse after their own benefits have been exhausted; graded premium options to make 3 percent or 5 percent compound inflation protection more affordable; and benefit amounts of $100,000 to $1 million rather than benefit time periods, so consumers know exactly how much of their assets they are protecting.

"We are committed to being a solutions-based organization that supports the needs of our existing and potential customers," said David O'Leary, executive vice president and chief operating officer. "American General LTC has been designed as a common-sense, flexible answer to financial planning needs."

To make it easy to apply for long term care insurance, American General has developed a streamlined process - LTC LaunchPad - that automatically populates the application forms based on the illustration and a brief questionnaire, and shortens the agent's requirements for field underwriting. A traditional application process is also available. For customers' convenience, initial and ongoing premium payments for the new product may be remitted via credit card (including American Express, MasterCard and Visa) as well as direct bill or automatic bank draft.

"Producer groups and individual agents alike have told us they want an affordable long term care insurance plan with benefits based on dollar amounts - not time periods or complicated benefit formulas - that's easy to offer their clients," said Jay Drucker, vice president of product and business development, Accident and Health. "Recent market research shows that consumers increasingly understand the need for long term care funding, particularly to help protect their assets in a post-recession economy."

American General LTC, which is approved for sale in 43 states, and the District of Columbia, also offers:

• A monthly benefit, rather than daily benefit
• A calendar-day elimination period (to be satisfied once per lifetime), rather than a service-day elimination period
• A Stay at Home Support Benefit (10 percent of maximum lifetime benefit for home modification, durable medical equipment, respite care, hospice care and caregiver training, payable during the elimination period)
• Federal income tax-free benefits (based on current federal income tax law) and is qualified to participate in state partnership programs
• A full suite of optional benefits.
  

American General Life Insurance Company, the top issuer of term life in North America through year-end 2008 according to the Life Insurance Market Research Association (LIMRA), offers insurance that meets a wide variety of needs. For more information about the features and benefits of American General LTC insurance, visit www.americangeneralLTC.com, call toll-free 877-399-7747 or e-mail agltc@aglife.com.

Policies issued by:
American General Life Insurance Company
2727-A Allen Parkway, Houston, Texas 77019
American General Long Term Care Insurance Policy Form Number 08000

The underwriting risks, financial and contractual obligations and support functions associated with products issued by American General Life Insurance Company (AGL) are its responsibility. AGL does not solicit business in the state of New York. Policies and riders not available in all states.

American General Life Companies, www.americangeneral.com is the marketing name for the insurance companies and affiliates comprising the domestic life operations of American International Group, Inc., including AGL. American General Life Companies insurers offer a broad spectrum of fixed and variable life insurance, annuities and accident and health products to serve the financial and estate planning needs of customers throughout the United States.