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Portfolio Director® Fixed and Variable Annuity

Product Overview

You could spend one-third of your life in retirement. If outliving your income is a concern, you should consider steps to take now. The Portfolio Director® Fixed and Variable Annuity (Portfolio Director) combines a wide array of competitively priced and professionally managed investment options that cover the major asset categories and classes, and offers convenience and flexibility to help you reach your retirement goals.

Portfolio Director provides that flexibility through two proven investment approaches: fixed and variable. Variable options tend to seek growth while fixed options lean toward maximizing current income or preserving capital. All guarantees are backed by the claims-paying ability of The Variable Annuity Life Insurance Company.

Annuities are long-term investments. Income taxes are payable upon withdrawal. Federal withdrawal restrictions and tax penalties may apply to early withdrawals. Investment values will fluctuate so that your investment units when redeemed can be worth more or less than their original cost. Annuity contracts typically include limitations, exclusions and expense charges. Fees may apply, including Separate Account Annual Expenses, which are annualized at 0.75% to 1.25% and Annual Net Fund Expenses, which range from 0.23% to 1.35% based on the investment option selected. The current Annual Net Fund Expense is the Total Annual Fund Expense less any expense waivers or reimbursement. A $3.75 quarterly maintenance charge may be deducted, depending on the contract. Fees and expense waivers or reimbursements are subject to change.

Features & Benefits

Savings compound at a faster rate.  With a Portfolio Director annuity, you won’t pay current taxes on any interest or investment gains until money is withdrawn. Money that otherwise would have gone toward federal income taxes stays in your account, earning interest. 

Investment options offer flexibility.  As a Portfolio Director investor, you have access to well-known institutional fund managers and to funds that are only available through Portfolio Director. Many of the variable annuity investment options available within Portfolio Director are VALIC subadvised funds. For other funds, VALIC is the adviser for the funds, and we hire subadvisers to manage the portfolios. We select subadvisers based on their investment style and asset class expertise. In addition, Portfolio Director also offers a selection of well-known publicly traded funds.

A guaranteed death benefit is standard.  Some annuity contracts offer an optional death benefit. But a guaranteed death benefit comes standard with Portfolio Director.

Multiple retirement income options. Portfolio Director offers annuity payout options that can transform your account balance into regularly distributed income for as long as you live — guaranteed.

Optional benefits. You can add on a living benefit option that will allow you to step up and lock in market gains, which provides the potential for higher retirement payments. Another optional benefit allows you to receive asset management provided by the independent financial expertise of Ibbotson Associates, Inc.

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

To obtain contract and underlying fund prospectuses, click here or call 1-800-448-2542. The prospectuses contain the investment objectives, risks, charges, expenses and other information about the respective investment companies that you should consider carefully before investing. Please read the prospectuses carefully before investing or sending money.

Policy Form series UIT-194, UITG-194 and UITG-194P, a group fixed and variable annuity issued by The Variable Annuity Life Insurance Company, Houston, Texas.