Assured Edge Income BuilderSM
It's easy to generate predictable retirement income — for life.
This tax-deferred fixed annuity features a guaranteed lifetime withdrawal benefit (GLWB) to help generate retirement income that can't be outlived.
Potential Benefits of Assured Edge Income Builder
Assured Edge Income Builder can provide you with the flexibility to choose when you want to start receiving your guaranteed lifetime income, even as early as age 50. Once your lifetime income withdrawals begin, they will continue for as long as you live, even if the contract value is reduced to zero.1 Single and joint life coverage options are available.
In the event you need access to your contract value before or after lifetime income withdrawals begin, you can take advantage of contract provisions that allow penalty-free withdrawals without incurring withdrawal charges or market value adjustment (MVA). Keep in mind, if you take any money out of your fixed annuity (including penalty-free withdrawals and Required Minimum Distributions) before you elect to start lifetime income withdrawals, excess withdrawals will reduce the amount of your future lifetime income withdrawals.2
Assured Edge Income Builder gives you the opportunity to receive a 7.5% (simple interest) income growth credit on your guaranteed lifetime income amount (GLIA) each year that you don't take withdrawals from your contract, until you elect to begin income withdrawals.3 Taking withdrawals before beginning your lifetime income withdrawals will affect your income growth credit and your GLIA. These are considered excess withdrawals that will proportionally reduce your income growth credit and GLIA. The income growth credit will also not be added for the year the excess withdrawal is taken.
Regardless of future economic conditions, your annuity is guaranteed to renew at or above the minimum interest rate, which is listed in your contract or applicable endorsement(s).
After your initial premium ($25,000 minimum), you have the ability to add to your premium during the first 60 days after your contract is issued.
Beginning in the first contract year, you may take multiple withdrawals of up to 10% of the contract value, as of the previous anniversary, with no withdrawal charge or market value adjustment (MVA). These are referred to as penalty-free withdrawals. If a withdrawal occurs in the first contract year, the withdrawal amount is based on the total eligible premiums received at the time of the withdrawal.2
The MVA is an adjustment that can either increase or decrease the withdrawal amount depending on the current interest rate environment. When interest rates at the time of withdrawal are higher than the level at the time the contract was issued, the MVA will result in a decrease. If interest rates are down, the MVA will increase the withdrawal amount.
Should an MVA decrease apply, the amount charged will not result in your receiving less than the minimum withdrawal value as defined in your contract or MVA endorsement. The Barclays US Credit Index is used to measure rates.
Start Building Income for the Future
Assured Edge Income Builder can help you prepare today for a more secure retirement tomorrow. Please see the attached Product Profile for complete details.
Talk to Your Financial Professional
Ask your financial professional for more information about annuity solutions that can help you establish a reliable retirement income source.
1 To realize the full benefit of lifetime income, withdrawals must not exceed the guaranteed lifetime income amount.
2 All contractual withdrawals taken before you make a written election to start income under the GLWB feature(including RMDs and other penalty-free withdrawals under the contract) will be considered excess withdrawals for purposes of the GLWB and will proportionally reduce future income amounts; the income growth credit will not be applied to the GLIA for that year. After you elect to begin lifetime income withdrawals, only withdrawals that exceed the GLIA (except for RMDs) are considered excess withdrawals and will also proportionally reduce your GLIA.
3 The income growth rate is not a rate of return and the income growth credit is not added to the contract value.
Barclays Capital Inc. and its affiliates (“Barclays”) is not the issuer or producer of the Product and Barclays has no responsibilities, obligations or duties to purchasers of the Product. The Barclays US Credit Index is a trademark owned by Barclays Bank PLC and licensed for use by American General Life InsuranceCompany (AGL) as the Issuer of the Product. Barclays’ only relationship to AGL is the licensing of the Barclays US Credit Index, which is determined, composed and calculated by Barclays without regard to AGL or the Product. While AGL may for itself execute transaction(s) with Barclays in or relating to the Barclays US Credit Index in connection with the Product that purchasers acquire from AGL, purchasers of the Product neither acquire any interest in Barclays US Credit Index nor enter into any relationship of any kind whatsoever with Barclays upon purchasing the Product. The Product is not sponsored, endorsed, sold or promoted by Barclays, and Barclays makes no representation or warranty (express or implied) to theowners of the Product, the Issuer or members of the public regarding the advisability, legality or suitability of the Product or use of the Barclays US Credit Index or any data included therein. Barclays shall not beliable in any way to the Issuer, purchasers, or to other third parties in respect of the use or accuracy of the Barclays US Credit Index or any data included therein or in connection with the administration, marketing, purchasing or performance of the Product.
Annuities issued by American General Life Insurance Company (AGL), except in New York where issued by The United States Life Insurance Company in the City of New York (US Life).
Products and riders may vary by state or may not be available in all states.
The above insurance companies are members of American International Group, Inc. Contract and optional guarantees are backed by the claims-paying ability of the issuing insurance company.
"AIG" is a marketing name used with products issued by AGL and US Life.
The Company, its distributors and representatives are not authorized to give legal, tax or accounting advice. Applicable laws and regulations are complex and subject to change. Any tax statements in this material are not intended to suggest the avoidance of U.S. federal, state or local tax penalties. For advice concerning your situation, consult your professional attorney, tax advisor or accountant.
Policy #s ICC16:224, Rider #s ICC16:GLBI
Not FDIC or NCUA/NCUSIF Insured. May Lose Value - No Bank or Credit Union Guarantee - Not a Deposit - Not Insured by any Federal Government Agency