IncomeLock

IncomeLOCK^®: A Living Benefit Option

Available with Portfolio Director^® Fixed and Variable Annuity

Lock in market gains. Lock out market downturns.

IncomeLOCK, an add-on benefit available with Portfolio Director Fixed and Variable Annuity, is designed to help you maximize your retirement income. Portfolio Director is issued and guaranteed by the Variable Annuity Life Insurance Company. You can receive an income during retirement that's based on your contract's highest anniversary value during the benefit's first 10 years ― including possible income for life. Since you can lock in market gains and lock out market downturns, you have the potential to better prepare for and enjoy a secure retirement.

• Locks in market gains ― automatically. Each year on the benefit anniversary during the benefit's first 10 years (or first 20 years, if the benefit is extended), IncomeLOCK locks in investment gains, providing the potential to boost your retirement income.

• Locks out market downturns. IncomeLOCK guarantees your retirement income won't go down, no matter how the market performs, provided you take withdrawals under the parameters of the program. All guarantees are backed by the claims-paying ability of The Variable Annuity Life Insurance Company (VALIC).

• Locks up income for retirement. You will have the flexibility to take income when and how you need it. Each year, you can withdraw up to 5%, 7% or 10% of your Benefit Base, the total guaranteed amount available for withdrawal, depending on when you take your first withdrawal. Guaranteed life-time income of 5% is also available if you wait until age 65 to take your first withdrawal. The annual withdrawal amount guaranteed by this optional rider may change over time and thus, is not guaranteed at a fixed rate or withdrawal amount.

IncomeLOCK Guidelines

• The IncomeLOCK living benefit option is available with Portfolio Director Fixed and Variable Annuity contracts. This feature might not be available in some states. Loans from the contract are not available while IncomeLOCK remains in effect. In addition, IncomeLOCK is not available if you have enrolled in Guided Portfolio Services^SM (GPS). We reserve the right to modify, suspend or terminate IncomeLOCK in its entirety or any component thereof at any time. However, once your IncomeLOCK endorsement has been issued, the feature and its terms will not change unless IncomeLOCK is extended on the 10-year benefit anniversary or canceled according to the terms of the feature.

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

• The optional IncomeLOCK feature is available for an annual fee of 0.65% of the Benefit Base to investors age 75 or younger. This fee is deducted on a quarterly basis from the contract value as long as the contract value is greater than zero.

• If you decide not to take withdrawals under the IncomeLOCK feature, or you surrender the contract, you will not receive the benefits of IncomeLOCK. 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 0.35% to 1.25% depending on the contract, and the Annual Net Fund Expense, which ranges from 0.35% to 1.35% 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.

To obtain a contract and underlying fund prospectuses, click here or call 1-800-448-2542. 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 and UITG-194P. This information is general in nature and may be subject to change. Neither VALIC nor its financial advisors give legal or tax advice. Applicable laws and regulations are complex and subject to change. For legal or tax advice concerning your situation, consult your attorney or tax advisor.

Important Notice about Purchasing a VALIC Annuity From Us

To help the government fight the funding of terrorism and money-laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who purchases certain annuity products. What this means for you: When you purchase certain annuity products from us, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may ask to see your driver's license or other identifying documents.

Annuities and insurance products are offered by The Variable Annuity Life Insurance Company (VALIC), AIG Annuity Insurance Company, AIG-affiliated insurance companies or other approved companies. Each underwriting company is financially responsible for its own insurance products.

Securities and investment advisory services are offered by AIG Retirement Advisors, Inc., member FINRA, SIPC and an SEC-registered investment advisor.

AIG Retirement is the marketing name for the group of companies comprising AIG Retirement Advisors, Inc.; AIG Retirement Services Company; and The Variable Annuity Life Insurance Company (VALIC); each of which is a subsidiary of American International Group, Inc.

This information is general in nature and may be subject to change. Neither VALIC nor its financial advisors or other representatives give legal or tax advice. Applicable laws and regulations are complex and subject to change. For legal or tax advice concerning your situation, consult your attorney or professional tax advisor.