In its announcement, AIG VALIC said its new IncomeEdge (SM) provides a step-by-step process, utilizing the help of a VALIC financial advisor, that guides clients through the steps of evaluating retirement needs; establishing savings goals; investing retirement assets; and creating an effective strategy for generating a sustainable income stream in retirement.
The company said the new tool includes the following:
- Educational materials, including a “Retirement Income Solutions for Life” seminar that addresses all the financial components of a solid retirement strategy, from Medicare and Social Security benefits, to managing personal financial assets, to creating an estate plan,
- The ongoing planning assistance of a VALIC personal financial advisor,
- Planning tools such as Monte Carlo simulations
that help illustrate the probability for success of
specific financial plan, and
- Two newly created single-premium, immediate annuities that can be used to generate a stream of income in retirement.
The two annuities are Secure Pension, which provides for a single-premium, immediate fixed annuity that provides a monthly payout for life, and Personal Pension, a single-premium, immediate fixed and variableannuity that offers owners the choice of a fixed or variable payout, or a combination of both. The annuity includes an optional inflation protection rider for the fixed plan and provisions for withdrawals and transfers for the variable plan.
AIG VALIC, a member company of American International Group (AIG), is a retirement plan provider.