The insurer said that the available riders will offer coverage in the event of critical illness, accidental death and dismemberment, and inability to work due to an accidental injury.
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According to American General, the features of the new insurance product will include: no coordination with major medical insurance, dollar-for-dollar reimbursement up to the policy amount, no network restrictions, no waiting period to use benefits, no lifetime limit, multiple payment options, critical illness rider, Accidental Death & Disability Rider, and Accidental Disability Income Rider.
Commenting on the launch, American General vice president of A & H product and business development, Jay Drucker, said: "AG Accident Choice Plus is designed to provide individuals and families with peace of mind and protection should they experience a covered accident or critical illness.
"This product can be of great value to anyone who has a major medical plan with significant deductible or large co-payments, anyone who has limited access to health care providers or who seeks to reduce out-of-pocket health care expenses. Furthermore, with a choice of benefit amounts and deductibles, as well as three optional riders, AG Accident Choice Plus provides the flexibility for clients to tailor their benefits to their individual budgets and needs," Drucker added.
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