1 Lifetime income is available through annuitization for no additional cost.
2 Annual income credits are equal to 200% of the interest earned before activating the Lifetime Income Plus Multiplier Flex guaranteed living benefit rider and lifetime withdrawals begin. Annual income credits are added to the Income Base, not the contract value. The Income Base is the amount on which lifetime withdrawals are based; it is not a contract value and cannot be withdrawn partially or in a lump sum.. Activation is the decision to begin lifetime withdrawals under the rider. Lifetime Income Plus Multiplier Flex may not be available in all states or firms.
3 Annual income credits are equal to 100% of interest earned in the annuity after activation and the first lifetime withdrawal.
4 Provided withdrawals are taken within the terms of the rider.
Index annuities are not a direct investment in the stock market. They are long-term insurance products with guarantees backed by the claims-paying ability of the issuing insurance company. They provide the potential for interest to be credited based in part on the performance of the specified index, without the risk of loss of premium due to market downturns or fluctuations. Index annuities may not be appropriate for all individuals.
Withdrawals may be subject to federal and/or state income taxes. An additional 10% federal tax may apply if clients make withdrawals or surrender their annuity before age 59½. Clients should consult their tax advisor regarding their specific situation.
Lifetime Income Plus Multiplier Flex is one of two guaranteed living benefit riders available in select Power Series Index Annuities for an annual fee of 1.0% of the Income Base. Only one rider may be elected per contract and cannot be changed after election. The Income Base is initially equal to the first eligible premium. The Income Base is adjusted for withdrawals (prior to activating the lifetime income benefit) and excess withdrawals (after activation and the first lifetime withdrawal) and is increased each time an eligible premium is made. Eligible premiums are all premiums made in the first 30 days of the contract. On each contract anniversary, the Income Base may be increased by any available income credit.
Guaranteed lifetime withdrawals are a percentage of the Income Base. This percentage varies from 2.90% to 5.75% based on the number of individuals covered under Lifetime Income Plus Multiplier Flex and their age at the time of activation and first lifetime withdrawal.
All contract and benefit guarantees, including any fixed account crediting rates or annuity rates, are backed by the claims-paying ability of the issuing insurance company. They are not backed by the broker/dealer from which this annuity is purchased,
The Power Series of Index Annuities are issued by American General Life Insurance Company (AGL), Houston, Texas or The Variable Annuity Life Insurance Company (VALIC), Houston, Texas. AGL and VALIC are member companies of American International Group, Inc. (AIG). The underwriting risks, financial and contractual obligations and support functions associated with the annuities issued by AGL or VALIC are its responsibility. Guarantees are backed by the claims-paying ability of the issuing insurance company. AGL does not issue products in the state of New York. Annuities and riders may vary by state and are not available in all states.
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