Q:

What services does VALIC offer?

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Quick Answer

The Variable Annuity Life Insurance Company provides services such as annuities, insurance, retirement plans, college savings plans and brokerage, according to VALIC. The types of annuities it offers are tax-deferred annuities, flexible premium fixed annuities, variable annuities and single premium fixed annuities.

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Full Answer

The types of life insurance VALIC provide are term life insurance, variable universal life insurance, permanent insurance, interest sensitive whole life insurance and universal life insurance, states VALIC. Also available are survivorship policies and single-premium life insurance. The term life insurance provides coverage for a specified period of time and has premiums that increase with age or renewal. If a member lives beyond the specified period, he does not get any benefits. If a member dies, the plan can cover mortgages, lost income, education funds, and funeral and final estate expenses.

VALIC provides mutual fund programs such as profile retirement program, inside edge retirement program and retail mutual funds, says VALIC. A profile mutual fund is for people who wish to manage their investments without a financial advisor.

Two college savings plans available are tax-advantaged investment accounts and prepaid tuition plans, states VALIC. The latter enables members to pay for tomorrow’s tuition, at today’s rates. It enables members pay for their children’s college fees in public institutions by the time their children graduate from high school. It does not cover room and boarding charges, but members can switch the benefits to other eligible members.

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