Premiere 5^SM

Feel safe and secure. If you’ve worked hard to accumulate a "nest-egg" for your retirement, now’s not the time to put your money in a risky investment. Fixed annuities are considered to be safe  because they’re backed by the financial strength of the issuing insurance company.  The Variable Annuity Life Insurance Company is required by law to set aside a portion of its assets or reserves to cover claims.

Postpone taxes on interest earnings. Tax deferred means postponing your taxes on interest earnings until a future point in time. In the meantime, you earn interest on the money you're not paying in taxes. This means you can accumulate more money over a shorter period of time, which ultimately can provide you with a greater income. Taxes are due upon withdrawal and if prior to age 59½ a 10% tax penalty may apply.

Withdraw earnings free from contract penalties. After 30 days from the Contract Date, you can make withdrawals of your accumulated interest earnings without incurring penalties under the contract. After the first contract year, you may withdraw accumulated interest or up to 10% of the annuity value without contract charges. Until withdrawals are taken, your premiums will continue to grow tax deferred until retirement. A federal tax penalty may apply to withdrawals of taxable amounts prior to age 59½.

A guarantee you can count on. You’ll not only receive a minimum guaranteed interest rate for the life of your contract, but also a guaranteed current rate payable on your initial purchase premium for one year, which may include an interest rate enhancement (initial purchase premiums of $100,000 or more may receive an additional interest rate enhancement).

Withdrawals in excess of permitted amounts are subject to a declining withdrawal charge. Each purchase premium is subject to a five-year withdrawal charge schedule of 9%, 8%, 7%, 6%, 5% from the date of receipt. Taxes are due upon withdrawal. Withdrawals taken prior to age 59½ may be subject to a 10% federal tax penalty.

Interest rates and enhancements subject to change at any time. After the initial interest rate guarantee period expires, a new rate will be declared periodically. All rates are effective annual interest rates. To achieve this rate annually funds must remain in the annuity (without any withdrawals) each year. Contract provisions may vary from state to state. Refer to the contract for actual governing contractual provisions.

Policy form Flex5-805X, ECR-805E, VR385-05