American General Life Insurance is launching a new product to fill gaps left by major medical policies. AIG Accident Expense Plus provides accident coverage and allows the policyholder to include a critical illness rider to cover diseases like heart attack or stroke.

"To combat rising premiums in their major medical plans, many individuals and families are increasing their deductibles, co-payments and other out-of-pocket expenses," said Jay Drucker, vice president, Accident and Health, AIG American General. "AIG Accident Expense Plus offers an easy and affordable solution to help ensure that out-of-pocket costs from an accident or critical illness don't jeopardize their financial stability."

Some of the other benefits to the new product include:

• Benefits are paid directly to the policyholder, not the provider.
• Policyholders choose the benefit amounts based on individual needs.
• Policyholders can choose any hospital, physician or medical facility.
• Benefit payments are not coordinated with payments from the insured's major medical plan.
• The plan covers individuals as well as their spouses and children.