Well, the IRS changed the rules and AIG responded. In fact, it appears to have been first out of the gate.
New regulations from the IRS governing qualified longevity annuity contracts, issued July 2, opened the door to deferred income annuities in 401(k) and other retirement products.
AIG's American General Life Insurance Co. has now jumped in with its American Pathway Deferred Income Annuity, which it noted in a product bulletin "is now eligible to be designated as a QLAC when purchased as a traditional IRA."
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