Variable annuities are a long-term investment designed for retirement purposes. Variable annuities are subject to investment risk, including the potential loss of principal. In the accumulation phase, they can help you build assets on a tax-deferred basis. In the income phase, they can provide you with guaranteed income through standard or optional features. Variable annuities are subject to costs that include a separate account fee, a contract maintenance fee, expenses related to the operation of the variable portfolios, and the costs associated with any optional features elected.
Income protection features are optional and available at contract issue for an additional annual fee. Age restrictions, investment requirements and limitations apply. Depending upon the performance of the investment and income needs, you may not need to rely on the protection provided by an optional income protection feature. Additional income protection features may be available. Only one income option feature may be elected. To realize the benefits of an income protection feature, you must take withdrawals within the parameters of the feature.
Early withdrawals may be subject to withdrawal charges. Partial withdrawals may reduce benefits available under the contract as well as the amount available upon a full surrender. Withdrawals of taxable amounts are subject to ordinary income tax, and if taken prior to age 59½, an additional 10% federal tax may apply.
Policy form numbers:
AGL: AG-803 (7/13)
US Life: US-803 (5/17)
VALIC: V-803 (11/14)