According to American General, the key benefits of the new product will include guaranteed death benefit and premiums; ability to reduce the death benefit and premiums; enhanced surrender value rider; and guaranteed tabular cash values.

AG Secure Survivor GUL II is also a flexible way to equalize inheritances among heirs. It can provide a specified, guaranteed amount to one child to help equalize assets among several, when a business interest or other major asset is being left to only one child.

Further, AG Secure Survivor GUL II can be advantageous in providing capital for business planning and succession. The product can be leveraged to provide working capital or to ensure business continuity at the death of a business owner or key employee.

Indeed, with its guaranteed death benefit, guaranteed access and guaranteed cash value, AG Secure Survivor GUL II may be an optimal solution for business needs as well as for families seeking long-lasting protection, the power to ensure a legacy and the flexibility to exercise more control over their life insurance policy as their individual circumstances and the economic climate evolve.

Commenting on the launch, American General president of life insurance, James Mallon, said: "AG Secure Survivor GUL II is further manifestation of our commitment to continue enhancing our broad and diverse product portfolio to help our distribution partners provide the flexibility and guarantees that clients today are seeking."

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American General vice president of product strategy and implementation, Tim Heslin, said: "AG Secure Survivor GUL II offers highly flexible features as well as powerful guarantees in a second-to-die policy. This innovative protection product is designed to give clients more control during uncertain economic times and provide more peace of mind for risk-averse clients."