Available with Portfolio Director^® Fixed and Variable Annuity

IncomeLOCK Plus, an optional guaranteed minimum withdrawal benefit option available with Portfolio Director Fixed and Variable Annuity, is designed to help you grow and protect your retirement income.  Portfolio Director is issued by The Variable Annuity Life Insurance Company. 

IncomeLOCK Plus offers the opportunity to increase retirement income by locking in the greater of either the Contract’s highest Anniversary Value or an annual Income Credit. IncomeLOCK Plus offers two separate Income Credit options: IncomeLOCK +6, with a 6% Income Credit, and IncomeLOCK +8, with an 8% Income Credit. The annual Income Credit is an amount VALIC may add to the Benefit Base each year for the first 12 Benefit Years. After the first 12 years, the Benefit Base may continue to be increased to lock in highest Anniversary Values.

All guarantees are backed by the claims-paying ability of The Variable Annuity Life Insurance Company.

• Increasing Income, even in a down market
  IncomeLOCK +6 option – Locks in the greater of investment gains or an annual 6% income credit (or a reduced amount in years that withdrawals are taken) during the first 12 Benefit Years 
  
  IncomeLOCK +8 option – Locks in the greater of investment gains or an annual 8% income credit (in years no withdrawals are taken) during the first 12 Benefit Years   
  
  
• Your benefit base will increase after 12 years
  If you don’t take withdrawals during the first 12 Benefit Years, your benefit base can even increase to 200% of eligible first-year purchase payments (if elected at contract issue), or 200% of the initial Benefit base (if elected after original contract issue).   After the first 12 benefit years, your retirement income can continue to grow with the market on each benefit anniversary for as long as you live.
  

IncomeLOCK Plus Guidelines

• IncomeLOCK Plus is available with Portfolio Director Fixed and Variable Annuity contracts.  It may not be available in all states.  Loans from the contract are not available while IncomeLOCK Plus remains in effect.  In addition, IncomeLOCK Plus is not available with Guided Portfolio Services or Guided Portfolio Advantage. We reserve the right to modify, suspend, or terminate IncomeLOCK Plus in its entirety or any component thereof at any time.  However, once your IncomeLOCK Plus endorsement has been issued, the feature and its terms will not change except as noted in the prospectus.

• Early withdrawals of taxable amounts may be subject to withdrawal charges and a 10% federal tax penalty may apply.

• The optional IncomeLOCK Plus feature is available for an initial annual fee. After the first year, the fee rate is subject to change each quarter.  See the prospectus for more information on the fees.

• If you select IncomeLOCK Plus, you must choose from a list of available investment options and stay within the specified percentage allocations, including required allocation to Fixed Account Plus.  These investment requirements must be followed as long as the feature is in effect.  

• If you decide not to take withdrawals under the IncomeLOCK Plus feature, or you surrender the contract, you will not receive the benefits of IncomeLOCK Plus. You could pay for the feature and not need to use it. Portfolio Director fees are described in the current prospectus. These fees include Separate Account fees, which range from 0.75% to 1.25% depending on the contract and variable option chosen, and the Annual Net Fund Expense, which ranges from 0.15 to 1.27% for the variable options. The current Annual Net Fund Expense is the current Annual Total Fund Expense less expense waivers or reimbursements. Fees are subject to change based on expense waivers and reimbursements received. Additionally, account maintenance fees of $3.75 per quarter and surrender charges might apply, depending on your contract.

IncomeLOCK Plus might not be appropriate for use with contributory IRAs (traditional, Roth IRAs, SEPs, SIMPLEs or in employer-sponsored plan accounts) if you plan to make ongoing contributions. The minimum protection applies only to certain purchase payments made as indicated on the IncomeLOCK Plus endorsement.

To obtain a contract and underlying fund prospectuses, click here or call 1-800-428-2542. The prospectuses contain the investment objects, risks, charges, expenses and other information about the respective investment company that you should consider carefully before investing. Please read the prospectuses carefully before investing or sending money.

Annuity contracts typically include limitations, surrender charges, exclusions and expense charges. Standard rate applicable to Policy Forms UIT-194, UITG-194, UIT-IRA_194, UITN-194, and UITG-194P. This information is general in nature and may be subject to change.