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| Life Markets |
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| Guaranteed Living Benefit Rate Updates to Power Series Index Annuities |
| Effective June 3, 2024 |
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| We have been monitoring the interest rate environment and are updating rates on our Power 7 Protector Plus Income and Power 10 Protector Plus Income guaranteed living benefit feature, Lifetime Income Choice, effective June 3, 2024. |
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| As of June 3, 2024, for newly issued Power 7 Protector Plus Income and Power 10 Protector Plus Income contracts with the Lifetime Income Choice® living benefit, the following new Maximum Annual Withdrawal Percentages (MAWP) and Protected Income Payment Percentages (PIPP) will apply (changes shown in purple): |
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Lifetime Income Choice – Level Income
Maximum Annual Withdrawal Percentage & Protected Income Payment Percentage |
| Age of covered person(s) at income activation |
Current rates |
Age of covered person(s) at income activation |
New rates |
One covered person
(Single Life) |
Two covered persons
(Joint Life) |
One covered person
(Single Life) |
Two covered persons
(Joint Life) |
| Income % |
Income % |
Income % |
Income % |
| 50 to 59 |
5.00% |
4.60% |
50 to 59 |
5.50% |
5.10% |
| 60 to 64 |
5.50% |
5.10% |
60 to 64 |
6.00% |
5.60% |
| 65 to 69 |
7.00% |
6.60% |
65 to 69 |
7.50% |
7.10% |
| 70 to 74 |
7.50% |
7.10% |
70 to 74 |
8.00% |
7.60% |
| 75+ |
8.00% |
7.60% |
75+ |
8.50% |
8.10% |
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Lifetime Income Choice – Max Income
Maximum Annual Withdrawal Percentage & Protected Income Payment Percentage |
| Age of covered person(s) at income activation |
Current rates |
Age of covered person(s) at income activation |
New rates |
One covered person
(Single Life) |
Two covered persons
(Joint Life) |
One covered person
(Single Life) |
Two covered persons
(Joint Life) |
| MAWP |
PIPP |
MAWP |
PIPP |
MAWP |
PIPP |
MAWP |
PIPP |
| 50 to 59 |
5.00% |
5.00% |
4.60% |
4.60% |
50 to 59 |
6.00% |
5.00% |
5.60% |
4.60% |
| 60 to 64 |
6.00% |
5.00% |
5.60% |
4.60% |
60 to 64 |
7.00% |
5.00% |
6.60% |
4.60% |
| 65 to 69 |
8.00% |
6.00% |
7.60% |
5.60% |
65 to 69 |
9.00% |
6.00% |
7.60% |
5.60% |
| 70 to 74 |
8.50% |
6.00% |
8.10% |
5.60% |
70 to 74 |
10.00% |
6.00% |
9.60% |
5.60% |
| 75+ |
9.00% |
6.00% |
8.60% |
5.60% |
75+ |
11.00% |
6.00% |
10.60% |
5.60% |
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| All contracts issued with an effective date on or after June 3, 2024, with guaranteed living benefit feature Lifetime Income Choice® will receive the new rates regardless of application signature dates or when applications are received. |
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| For financial professional use only. Not for use with the public. |
| Index annuities are not a direct investment in the stock market. They are long-term insurance products with guarantees backed by the claims-paying ability of the issuing insurance company. They provide the potential for interest to be credited based in part on the performance of the specified index, without the risk of loss of premium due to market downturns or fluctuations. Index annuities may not be suitable or appropriate for all clients. This material is general in nature, was developed for educational use only, and is not intended to provide financial, legal, fiduciary, accounting or tax advice, nor is it intended to make any recommendations. Applicable laws and regulations are complex and subject to change. Clients should consult with their financial professional regarding their situation. For legal, accounting or tax advice, clients should consult the appropriate professional. |
| Early withdrawals may be subject to withdrawal charges. Withdrawals of taxable amounts are subject to ordinary income tax and, if taken prior to age 59½, an additional 10% federal tax may apply. |
| Index interest accounts are not a permanent part of the contract and may be removed due to circumstances beyond the control of American General Life Insurance Company. Such circumstances include, but are not limited to, the discontinuation of an index, which may occur at the end of an index term, a change in the composition or calculation of an index, the inability to license the use of an index and the inability to hedge risks associated with these index interest accounts. Special rules govern how assets in a discontinued index interest account may be reallocated. These rules may differ by state. Please see your contract for more information. |
| This material is general in nature, was developed for educational use only, and is not intended to provide financial, legal, fiduciary, accounting or tax advice, nor is it intended to make any recommendations. Applicable laws and regulations are complex and subject to change. For legal, accounting or tax advice consult the appropriate professional. |
| The Power Series of Index Annuities are issued by American General Life Insurance Company (AGL), 2727-A Allen Parkway, Houston, Texas 77019. Power Series Modified Single Premium Deferred Fixed Index Annuity (Single Premium Only in Oregon), Contract numbers: AG-800 (12/12) and AG-801 (12/12). AGL is a member companies of Corebridge Financial, Inc. The underwriting risks, financial and contractual obligations and support functions associated with the annuities issued by AGL are its responsibility. Guarantees are backed by the claims-paying ability of AGL. AGL does not solicit, issue, or deliver contracts in the state of New York. Annuities and riders may vary by state and are not available in all states. |
| © 2024 Corebridge Financial, Inc. 2919 Allen Pkwy Houston, TX 77019-2158. All rights reserved. |
| corebridgefinancial.com |
| 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 |
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Policy form number: J1419808
I6450IN1.3 (02/24) |
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