All address changes must be received in writing and must include the signature of the person or persons receiving the payment, their legal representative or the owner. If a legal representative is signing on behalf of the person receiving the payment, a copy of the legal document showing the authorization must accompany the request. The form includes instructions and submission requirements.
To request a beneficiary change, complete, sign and submit this form. Once the completed form is received, the owner will be contacted for approval (if person completing is not the owner). After approval/disapproval by the owner is received, the requestor will receive a notification via mail.
To change your legal name due to a marriage, divorce, adoption, etc., a copy of the legal document that confirms your current legal name is required. This could be a marriage license, a divorce decree, adoption paperwork, driver's license or a copy of your new social security card.
Payments can be made directly to your bank by ACH Transfer. This eliminates any delay of delivery by the postal service. Payments by this method are transmitted to the bank the working day before the payment due date. The receiving bank determines when the funds are posted into your account.
NOTE: An ACH transfer is electronic; however, it is NOT considered a wire transfer and is normally handled in a different department within the bank.
Death Claims Process
To report the death of an annuitant, please contact us immediately. Contact Us.
After notification of a death the payments on the annuity may be placed on "hold" while the policy is reviewed. If a payment was made to the annuitant after the date of death and the payments were only due while the annuitant was living the payment will need to be recovered.
If there are remaining payments to be made to the beneficiary or the estate (if there is no named beneficiary), American General will send additional forms to be completed and returned. When the completed forms are returned and processed the beneficiary or estate will receive a payment that includes any payments that were held and the beneficiary or estate will then continue to receive future payments as they become due.
Verification of Payments
An annuity contract certificate can be requested to verify the payments you are to receive from an annuity.
The agreement you or your legal representative entered into to receive future payments will provide you with specific and detailed information. American General was not a party to that agreement, however, we can provide you with an annuity contract certificate that will outline the payments that you will receive from the annuity. If you require a copy of your settlement agreement, you will need to contact one of the parties involved with the settlement, your attorney or the agent.
Note: The owner retains the policy. In lieu of ownership, we can provide an annuity contract certificate.
Timing of Payments
PAPER CHECK MAILED TO HOME ADDRESS
Paper checks are mailed 5 days before the date the payment is due. If the mailing date falls on Saturday the payment is mailed on Friday. If the mailing date falls on Sunday, the payment is mailed on Monday. If you have recently moved, the postal service WILL forward the check if you placed a forwarding request with them, but they do require an additional 3 to 5 working days. If you did not place a forwarding address with the postal service, they should return the check to our office. If you have not moved recently and have not received your payment one week AFTER THE PAYMENT DUE DATE, you may request a stop payment.
ELECTRONIC TRANSFER OF PAYMENTS TO YOUR FINANCIAL INSTITUTION
Payments can be sent electronically to your bank or financial institution which avoids any delay by the postal service.
Payments that are being electronically transferred are sent the working day before the date the payment is due.
If the payment date falls on a weekend the payment will be sent to your bank by Friday.
If the due date falls on a banking holiday, the payment will be sent one working day earlier.
If the payment is rejected by the receiving bank and we receive corrected account information, we can resend the payment. The process to re-send an electronic transfer generally requires three business days.
Wire Transfers are not available for these annuities.
Stop Payment Process
If you have not moved recently a stop payment on a paper check can be requested one week after the date the payment was due. If you have recently moved and placed a forwarding request with the postal service please allow an additional 3-5 working days before requesting a stop payment. The process to request a stop payment and to have a new check printed for mailing generally takes two working days.
If you have moved recently and have not advised us of the address change, please see the Change Address Request section for a form to submit. No changes will be made to the payment address without signed written instructions from the annuitant or their legal representative.
Policies and annuities issued by American General Life Insurance Company (AGL) except in New York, where issued by The United States Life Insurance Company in the City of New York (US Life). Variable policies and annuities are distributed by an affiliate, AIG Capital Services, Inc., member FINRA. Issuing companies AGL and US Life are responsible for financial obligations of insurance products and are members of American International Group, Inc. (AIG). Products may not be available in all states, and features, including rates, may vary by state. Refer to contract for complete details.