AIG Employee Benefit Solutions(R) Announces LIVESTRONG(TM) SurvivorPlan

Tue Jul 22, 2008 10:00am EDT

* Reuters is not responsible for the content in this press release.

New supplemental insurance policy provides education, resources
    and benefits to advance wellness - plus support should a cancer
                            diagnosis occur
HOUSTON--(Business Wire)--
AIG Employee Benefit Solutions(R) announced today the launch of
the LIVESTRONG(TM) SurvivorPlan, a distinctive supplemental insurance
policy developed in partnership with the Lance Armstrong Foundation.
The new policy provides participants the opportunity to connect with a
broad array of resources designed to help them stay healthy and,
should a cancer diagnosis arise, take control of their treatment. The
policy is being offered to the employer market through AIG Employee
Benefit Solutions and is underwritten by AIG Life Insurance Company,
Wilmington, DE, and American International Life Assurance Company of
New York, N.Y.

   "In addition to giving employees educational and financial
resources to help them live a healthy lifestyle today, the LIVESTRONG
SurvivorPlan also provides them with emotional and financial benefits
in the event of a diagnosis," said John Penko, senior vice president
of sales, AIG Employee Benefit Solutions. "This is a plan any employer
can get behind to protect their employees."

   In terms of keeping employees healthy, early detection is one of
the keys. As such, the LIVESTRONG SurvivorPlan provides an annual $100
screening benefit to cover a wide variety of early detection tests
such as mammograms, colonoscopies, electrocardiograms and others.

   For those employees or members of their family covered under the
plan who receive a cancer diagnosis, the LIVESTRONG SurvivorPlan
provides them with immediate access to the outstanding support system
of the Lance Armstrong Foundation and also delivers the financial
support needed to stay focused on recovery.

   "While most health insurance can cover the direct costs of a
cancer diagnosis, out-of-pocket costs and other expenses place a
tremendous financial burden on cancer survivors and their families,"
said Penko.

   Loss of wages and salary, deductibles, coinsurance, travel
expenses to and from treatment centers, lodging, meals and child care
comprise about 63 percent of the total cost of cancer treatment.(1)

   The LIVESTRONG SurvivorPlan helps offset these costs, which are
not often considered when dealing with cancer. Plus, all benefits are
payable directly to the insured to use as they see fit. For some, this
may mean a practical application of the funds to offset related
medical expenses, while others may opt to use the funds to spend
quality time with family. No one experiences cancer the same way, and
the LIVESTRONG SurvivorPlan enables policy owners the flexibility to
use the financial benefit however they want.

   "When most people think of insurance, they think of it as a
benefit to families of a loved one who has died," said Doug Ulman,
Lance Armstrong Foundation president. "The LIVESTRONG SurvivorPlan is
a living benefit, paid to the policyholder upon diagnosis to help them
pay for the costs associated with their disease and hopeful recovery.
It is intended for people living with cancer; people who are planning
for survival and fighting the disease every day. We believe in helping
survivors every step of the way, and that includes making smart
financial decisions."

   Other coverages provided by the LIVESTRONG SurvivorPlan include,
but are not limited to prolonged hospital stays,
radiation/chemotherapy treatments, intensive care unit treatment,
nursing services and hospice care, bone marrow transplants, second
surgical opinions and National Cancer Institute

   For more information on AIG Employee Benefit Solutions' LIVESTRONG
SurvivorPlan, visit

   (1) Cancer Facts & Figures, American Cancer Society, 2005

   About the Lance Armstrong Foundation

   The Lance Armstrong Foundation (LAF) unites people through
programs and experiences to empower cancer survivors to live life on
their own terms and to raise awareness and funds for the fight against
cancer. The LAF focuses on cancer prevention, access to screening and
care, research and quality of life for cancer survivors. Founded in
1997 by cancer survivor and champion cyclist Lance Armstrong, the LAF
has raised more than $250 million for the fight against cancer. Join
60 million LIVESTRONG wristband wearers and help make cancer a
national priority. Unite and fight cancer at

   AIG Employee Benefit Solutions(R),, is the
marketing brand under which group employee benefit insurance products
and individual worksite products (including life, accidental death &
dismemberment, disability, dental vision, cancer insurance and
critical illness products) are offered by the insurance companies that
comprise AIG American General, including AIG Life Insurance Company,
American General Assurance Company, American International Life
Assurance Company of New York, The United States Life Insurance
Company in the City of New York and American General Life Insurance

   AIG American General,, is the marketing name for the
insurance companies and affiliates comprising the domestic life
operations of American International Group, Inc. (AIG). AIG American
General-branded companies 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 its customers throughout
the United States.

   AIG American General pays a license fee to a third party to use
the trademarks LIVESTRONG(TM) and the Lance Armstrong Foundation(TM).
The Lance Armstrong Foundation's mission is to provide practical tools
and information that people with cancer need to live strong.

AIG Employee Benefit Solutions insurance products underwritten by:
AIG Life Insurance Company Wilmington, Delaware (AIG Life)
American International Life Assurance Company of New York New York,
 New York (AI Life)
Subsidiaries of American International Group, Inc. (AIG)

   LIVESTRONG(TM) SurvivorPlan is the marketing name for the Group
Critical Illness Insurance Policy/Cancer Indemnity Expense Certificate
Rider. Policy form series number: GCI50001, a limited benefit plan.
The policy form number for the AILife Policy is GCI50001-NY-0605.

   The underwriting risks, financial and contractual obligations and
support functions associated with products issued by AIG Life and AI
Life are its responsibility. AIG does not underwrite any insurance
policy referenced herein.

   AIG Life Insurance Company does not solicit business in the state
of New York. Policies and riders not available in all states.

   American International Group, Inc. (AIG), a world leader in
insurance and financial services, is the leading international
insurance organization with operations in more than 130 countries and
jurisdictions. AIG companies serve commercial, institutional and
individual customers through the most extensive worldwide
property-casualty and life insurance networks of any insurer. In
addition, AIG companies are leading providers of retirement services,
financial services and asset management around the world. AIG's common
stock is listed on the New York Stock Exchange, as well as the stock
exchanges in Ireland and Tokyo.

AIG American General
Stasa Cushman, 713-831-6414
Director, Communications

Copyright Business Wire 2008
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