polaris platinum iii variable annuity - aig...polaris platinum iii variable annuity is issued by...

Costs and other important information

Contract overview Minimum issue age: 181

Maximum issue age: 851

See Family Protection section for separate account charge.2 $50 contract maintenance fee (in NM: $30); currently waived if contract value is $75,000 or more on contract anniversary. Minimum initial investment: $10,000 (Non-Qualified); $4,000 (Qualified); additional: $500 (Non-Qualified and Qualified); $100 if Automatic Payment Plan is used.3

Professional money management Total portfolio operating expenses range from 0.47% to 2.03%4 as of 1/31/19.

Dollar cost averaging (DCA) May elect 6-month or 1-year DCA fixed account.5

Automatic asset rebalancing Quarterly, semiannual or annual available. (Quarterly required with income protection feature)

Transfers between portfolios 15 free transfers per contract year, $25 thereafter (in PA and TX: $10). Transfers made as part of the DCA or automatic asset rebalancing programs do not count towards the number of free transfers.

Withdrawal charges 7-year declining withdrawal charge (applies to each payment): 8-7-6-5-4-3-2-0%. After 7 full years, withdrawal charges no longer apply to a payment.

Free withdrawals during the withdrawal charge period

Greater of: 10% of purchase payments not yet withdrawn each contract year or, if an income protection feature is elected and lifetime income is activated, the maximum annual withdrawal amount. Note: If you are taking your contract’s Required Minimum Distribution (RMD), any withdrawal charges applicable to such withdrawals are currently waived.

Systematic withdrawals Minimum amount: $100. (Available monthly, quarterly, semiannually or annually)

Nursing home waiver Waives withdrawal charges for certain withdrawals. (Not available in CA, CT, MA, MO or PA)

Annuitization Latest annuity date: 95th birthday. Upon annuitization, the death benefit will no longer apply. Please contact us prior to your 95th birthday to discuss options.

Optional Protection Features

Income Protection—You may choose one income protection feature at time of purchase6

Polaris Income Plus Daily FlexSM

Polaris Income Plus FlexSM

Minimum issue age: 457

Maximum issue age: 807

Either feature: 1.25% of Income Base (Single Life or Joint Life option)8

Fee rate is guaranteed for one year. After one year, fee rate will be adjusted quarterly based on a pre-determined, non-discretionary formula. Minimum annual fee rate is 0.60%. Maximum annual fee rate for the life of the contract is 2.50% for Single Life/Joint Life. Fee to change between Income Option 1, 2 or 3: 0.25%.9

Family Protection—You must choose a death benefit at time of purchase

Return of Purchase Payment Death Benefit Maximum issue age: 851

Greater of contract value or purchase payments adjusted for withdrawals

1.30% separate account charge2

Maximum Anniversary Value Death BenefitMaximum issue age: 801

Greatest of: contract value; or purchase payments; or maximum anniversary value on any contract anniversary prior to the 83rd birthday, each adjusted for withdrawals

1.55% separate account charge2

Contract Value Death BenefitMaximum issue age: 851

Contract value only 1.15% separate account charge2

This material is intended only for educational purposes to help you, with the guidance of your financial professional, make informed decisions. We do not provide investment advice or recommendations.

See reverse for important information and footnotes. Maximum issue age may be lower in certain firms and/or if certain optional features are selected. Optional features must be elected at the time of purchase and, once elected, may not be changed; however, the income protection feature may be changed or cancelled as described in the prospectus. Income protection features and the Contract Value Death Benefit may not be available in all firms or may be subject to limitations. Firm and state variations may also apply. Please check with your financial professional for more information.

This material must not be used without a Polaris product brochure; it cannot be used alone. Please see the prospectus for more information.

Not FDIC or NCUA/NCUSIF InsuredMay Lose Value • No Bank or Credit Union Guarantee

Not a Deposit • Not Insured by any Federal Government Agency

Polaris Platinum® III VARIABLE ANNUITY

R5975CCN (5/19)

1 If jointly owned, age is based on older owner unless otherwise indicated. 2 Annualized fee deducted from the average daily ending net asset values allocated to the variable portfolios. 3 Additional purchase payments will not be accepted on or after the 86th birthday. 4 Deducted from the underlying funds of the applicable trusts. Maximum expense shown is subject to a contractual waiver of 0.93%, through 4/30/20,

that reduces the fee to 1.10%. 5 Dollar cost averaging does not ensure a profit or protect against a loss. You should consider your ability to sustain investments during periods of

market downturns. Any fixed rates paid will be paid on a declining balance. 6 Depending on investment performance and income needs, you may not need to rely on the protection provided by an optional income protection

feature. These features may be cancelled on the 5th contract anniversary or any contract quarter anniversary after that. Features cannot be re-elected once cancelled.

7 Single Life: Age is based on covered person’s age; Joint Life: age is based on age of younger covered person. Please see a prospectus for more detailed information about age requirements.

8 Annualized fee calculated as a percentage of the Income Base, deducted from contract value quarterly. The maximum annualized fee rate decrease or increase is 0.40% each contract quarter. This means the quarterly fee rate can decrease or increase by no more than 0.10% each contract quarter (0.40%/4). Note: If you change your initial election of the Income Option on the Lifetime Income Activation Date, the maximum annualized fee rate decrease or increase will differ only for the first contract quarter immediately following Lifetime Income Activation.

9 If you elect Polaris Income Plus Daily Flex or Polaris Income Plus Flex and you change your Income Option on the Lifetime Income Activation Date, the Lifetime Income Option change fee will be assessed and deducted from your contract value starting on the first contract quarter anniversary following the Lifetime Income Activation Date and every contract quarter thereafter. The fee is calculated as a percentage of the Income Base. The combined fee for the income protection feature and the Lifetime Income Option change cannot exceed the maximum annual fee rate shown on the reverse.

Please see prospectus for details.

Additional State Variations:In certain states, the annual contract maintenance charge and the quarterly fee for Income Plus Daily Flex and Income Plus Flex are deducted pro-rata from the variable portfolios only.

Polaris Platinum III Variable Annuity is sold by prospectus only. The prospectus contains the investment objectives, risks, fees, charges, expenses and other information regarding the contract and underlying funds, which should be considered carefully before investing. Please contact your insurance and securities licensed financial professional or call 1-800-445-7862 to obtain a prospectus. Please read the prospectus carefully before investing. Annuities are long-term investments designed for retirement. Early withdrawals may be subject to withdrawal charges. Partial withdrawals may reduce benefits available under the contract, as well as the amount available upon a full surrender. Withdrawals of taxable amounts are subject to ordinary income tax and, if taken prior to age 59½, an additional 10% federal tax may apply. An investment in Polaris Platinum III involves risk, including possible loss of principal. The contract, when redeemed, may be worth more or less than the total amount invested. The purchase of an annuity is not required for, and is not a term of, the provision of any banking service or activity.

All contract and optional benefit guarantees, including any fixed account crediting rates or annuity rates, are backed by the claims-paying ability of the issuing insurance company. They are not backed by the broker/dealer from which this annuity is purchased.

Polaris Platinum III Variable Annuity is issued by American General Life Insurance Company (AGL), Houston, TX, in all states except New York, where it is issued by The United States Life Insurance Company in the City of New York (US Life). Distributed by AIG Capital Services, Inc. (ACS), Member FINRA, 21650 Oxnard Street, Suite 750, Woodland Hills, CA 91367-4997, 1-800-445-7862. AGL, US Life and ACS are members of American International Group, Inc. (AIG).

aig.com/annuities

Policy form numbers:AGL: AG-803 (7/13)US Life: US-803 (5/17)

If you are considering an income protection feature with a Polaris Variable Annuity, please review the table below for an overview of the key differences and similarities. Please see the enclosed marketing materials and a prospectus for a complete discussion of each of these features, including a definition of key terms and restrictions and limitations.

1 Note: After first lifetime income withdrawal, captures highest daily value achieved during the prior contract year on each contract anniversary. See details above regarding Minimum Income Base step-up frequency.

2 Withdrawals taken prior to activating lifetime income reduce the Income Base and Income Credit Base (if applicable) proportionately. See product brochure for details.

3 Withdrawals taken prior to activating lifetime income reduce each purchase payment used in the calculation of the Minimum Income Base proportionately.

4 Income Option choice (1, 2 or 3) may be changed at the time of lifetime income activation for an additional fee of 0.25%. Please see the enclosed Product Summary flyer for complete details.

5 The fee rate is guaranteed for one year. After that time, it will be adjusted quarterly and may decrease or increase based on a predetermined, non-discretionary formula.

Guarantees are backed by the claims-paying ability of the issuing insurance company.

This flyer must be used in conjunction with a Polaris Variable Annuity product brochure; it cannot be used alone.

Polaris Variable Annuity Optional Income Protection Feature Comparison

Polaris Income Plus Daily FlexSM Polaris Income Plus FlexSM

Issue Ages 45-80 45-80

Feature Overview

Opportunity to lock in to the Income Base potential daily investment gains for guaranteed lifetime income, with the assurance of an annually increasing Minimum Income Base before you begin taking lifetime income withdrawals1,2

Opportunity to lock in to the Income Base the greater of potential annual investment gains or an Income Credit (available during the first 12 contract years) for guaranteed lifetime income2

Income Base Step-up Frequency

Daily

prior to first lifetime income withdrawal; captures highest daily value on each contract anniversary after that1

Annual on contract anniversary

Minimum Income Base

A guaranteed minimum amount of the Income Base determined on each contract anniversary prior to activating lifetime income, and up to the 15th contract anniversary. An annual 5% simple interest rate will be applied to each purchase payment received prior to that contract anniversary. The Minimum Income Base is no longer available after the 15th contract anniversary, or after you activate lifetime income, if earlier.3

On the 12th contract anniversary, if you have not activated lifetime income, Income Base is guaranteed to be at least 200% of your purchase payments received in the first contract year plus 100% of purchase payments received after the first contract year3

Income Credit Not applicable 6% (Available during the first 12 contract years before activating lifetime income)

Partial Income Credit Not applicable

Available during the first 12 contract years after activating lifetime income if withdrawals are less than 6% of the Income Base, within the parameters of the income option elected, and contract value remains

Available Income Options 3 Income Options4 3 Income Options4

Available Investment Options

Choice of Build Your Own Allocation with 77 portfolios or 29 Asset Allocation Portfolios 10% Allocation to Secure Value Account required

9 Volatility Control Portfolios8 Bond Portfolios10% Allocation to Secure Value Account required

Initial Fee Rate4,5

(Calculated as a percentage of Income Base. Guaranteed for first year.)

1.25% (Single Life or Joint Life) 1.25% (Single Life or Joint Life)


The Income Base is the amount on which guaranteed withdrawals and the annual fee for the feature are based. It is not a liquidation value nor is it available as a lump sum.

The Secure Value Account is an interest-earning fixed account with a one-year term.

Polaris Variable Annuities are sold by prospectus only. The prospectus contains the investment objectives, risks, fees, charges, expenses and other information regarding the contract and underlying funds, which should be considered carefully before investing. Please contact your insurance and securities licensed financial professional or call 1-800-445-7862 to obtain a prospectus. Please read the prospectus carefully before investing.Annuities are long-term investments designed for retirement. Early withdrawals may be subject to withdrawal charges. Partial withdrawals may reduce benefits available under the contract, as well as the amount available upon a full surrender. Withdrawals of taxable amounts are subject to ordinary income tax and, if taken prior to age 59½, an additional 10% federal tax may apply. An investment in Polaris involves investment risk, including possible loss of principal. The contract, when redeemed, may be worth more or less than the total amount invested. The purchase of Polaris is not required for, and is not a term of, the provision of any banking service or activity. Products and features may vary by state and may not be available in all states.


Polaris Variable Annuities are issued by American General Life Insurance Company (AGL), Houston, TX. In New York, Polaris Variable Annuities are issued by The United States Life Insurance Company in the City of New York (US Life). Distributed by AIG Capital Services, Inc. (ACS), Member FINRA, 21650 Oxnard Street, Suite 750, Woodland Hills, CA 91367-4997, 1-800-445-7862. AGL, US Life and ACS are members of American International Group, Inc. (AIG).


This flyer must be used in conjunction with a Polaris Variable Annuity product brochure; it cannot be used alone.

R5965CMP (5/19)

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

An optional income protection feature available in Polaris Variable Annuities

Polaris Income Plus

Daily FlexSM

Polaris Income Plus Daily Flex is available at contract issue for an additional annual fee in select Polaris Variable Annuities. Guarantees are backed by the claims-paying ability of the issuing insurance company. This brochure must be used in conjunction with the Polaris Variable Annuity product brochure; it cannot be used alone.



Polaris Income Plus Daily Flex is an optional income protection feature that offers you the opportunity to capture potential investment gains each day for future retirement income, with the assurance of an increasing Minimum Income Base before you activate lifetime income.

Polaris Income Plus Daily Flex provides:

• The opportunity to “lock in” potential investment gains to your Income Base daily. Before you activate lifetime income, your Income Base can increase daily from potential investment gains. After you activate lifetime income, your Income Base can continue to step up on each contract anniversary to lock in your highest daily value achieved during the prior contract year, if higher than your current Income Base. The Income Base is the amount on which guaranteed withdrawals and the annual fee for the feature are based. It is not the same as your contract value; it is not a liquidation value nor is it available as a lump sum.

• The assurance of an annually increasing Minimum Income Base for future income. The Minimum Income Base for future income increases by 5% (simple interest) each year on each contract anniversary before you activate lifetime income, for up to 15 years. If the Minimum Income Base is greater than your current Income Base, your income will be based on the Minimum Income Base.

• Annual withdrawal rates as high as 7.5% at age 65 (Single Life). An even higher withdrawal rate is available at older ages. Polaris Income Plus Daily Flex offers you a choice of three lifetime income options, along with the flexibility to change your income option choice for an additional fee when you activate lifetime income. With certain income options, the amount available for lifetime income is reduced if your contract value is completely depleted due to market volatility, deduction of fees and/or withdrawals taken within the feature’s parameters.

Polaris Variable Annuities are sold by prospectus only. The prospectus contains the investment objectives, risks, fees, charges, expenses and other information regarding the contract and underlying funds, which should be considered carefully before investing. Please contact your insurance and securities licensed financial professional or call 1-800-445-7862 to obtain a prospectus. Please read the prospectus carefully before investing.

Secure protected lifetime income for retirement

PolarisINCOME PLUS DAILY FLEX

• Guaranteed lifetime income. When you’re ready to receive lifetime income under this feature, you must activate lifetime income by completing the Lifetime Income Activation/Withdrawal form, choosing your Lifetime Income Activation Date and submitting the form to us. As an alternative to electing an optional income protection feature, you can annuitize your contract and receive income payments for life at no additional cost.

• Investment flexibility and control. Choose from two different investment strategies—Build Your Own Allocation using 77 different portfolios that cross multiple asset classes or Asset Allocation Portfolios. With Polaris Income Plus Daily Flex, the investment requirements described on pages 7-12 apply.

One income protection feature may be elected at the time of purchase. You have the flexibility to make a one-time change to your income option when activating lifetime income as described on page 5. The feature may be cancelled as described on page 6 and in the prospectus. Contract and optional benefit guarantees are backed by the claims-paying ability of the issuing insurance company.

Depending on investment performance and your income needs, you may not need to rely on this optional income protection feature, which is available at contract issue for an additional initial fee rate of 1.25% of the Income Base (Single Life and Joint Life). The fee rate is guaranteed for one year. After that time, it will be adjusted quarterly and may decrease or increase based on a predetermined, non-discretionary formula. The minimum issue age for this feature is 45 and the maximum issue age is 80. Please see the prospectus for details regarding minimum and maximum fees, age restrictions and other limitations.

Help protect your retirement income from market volatility and secure a source of income that’s guaranteed for life.

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Help grow future retirement income with a 5% rising Minimum Income Base for up to 15 years

Polaris Income Plus Daily Flex can offer you income protection for different types of markets. In a rising market, the Income Base can step up from potential investment gains daily. In a weak, flat or declining market, the Income Base can step up to the Minimum Income Base, if greater, on each contract anniversary before you activate lifetime income, for up to 15 years.

ACCUMULATION 5% rising Minimum Income Base for up to 15 years

Before you activate lifetime income, the Income Base can increase from daily step-ups or from the Minimum Income Base on contract anniversaries during the first 15 contract years, if the Minimum Income Base is higher than the current Income Base.

New Income Base Income Base Minimum Income Base: can increase by 5% (simple interest) annually for up to 15 years

Contract Anniversary

Contract Value

Income Base steps up to Minimum Income Base, if greater than current

Income BaseDaily step-ups from investment gains are greater than

Minimum Income Base

Income Base increases fromdaily step-ups

Important information about the hypothetical illustrations shown here and on the following page• Hypothetical illustrations are not to scale and are intended solely to depict how Polaris Income Plus Daily Flex can work. The

“Accumulation” example assumes no withdrawals are taken during the period illustrated. Annual market returns illustrated are hypothetical. Hypothetical examples assume an initial purchase payment at contract issue and no additional purchase payments. Illustrations do not reflect the actual performance of any particular investment.

Terms used in this section• Lifetime Income Activation Date (“Activation Date”): The date provided by you in writing on our form to begin taking lifetime income

under the feature. The Activation Date is also the date of the first lifetime income withdrawal taken by you. Changes cannot be made to the covered person(s) or income options after the Activation Date.

• Income Base: The amount on which guaranteed withdrawals and the annual fee for the feature are based. It is not a liquidation value nor is it available as a lump sum. The Income Base is initially equal to the first purchase payment. The Income Base will be increased each time a purchase payment is made. Prior to the Activation Date: the Income Base is increased daily to the Step-up Value (if any). In addition, during the first 15 contract years, the Income Base will be eligible to increase to at least the Minimum Income Base on the contract anniversary. On or after the Activation Date: the Minimum Income Base is no longer available, however, the Income Base is increased on the next contract anniversary looking back to the highest Step-up Value (if any) on each day since the first lifetime income withdrawal. (This is referred to as the “first look-back.”) After the first look-back, the Income Base is increased on each contract anniversary looking back to the highest Step-up Value on each day since the last contract anniversary. Prior to the Activation Date, the Income Base will be reduced proportionately for any withdrawals. On or after the Activation Date, the Income Base will be adjusted for excess withdrawals. If the contract value has been reduced to zero, the Income Base will no longer be recalculated.

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* Note: On the contract anniversary that immediately follows your first lifetime income withdrawal, we look back at the highest Step-up Value (if any) achieved since the time of your first lifetime income withdrawal.

Terms used in this section and important information• Step-up Value: This is a value used to determine the Income Base. It is equal to the current contract value if the contract value is higher than

the current Income Base. The Step-up Value (if any) is determined each day.• Minimum Income Base: The Minimum Income Base is a guaranteed minimum amount of the Income Base determined on each contract

anniversary prior to the Activation Date, and up to the 15th contract anniversary. An annual 5% simple interest rate will be applied to each purchase payment received prior to that contract anniversary. Withdrawals taken prior to the Activation Date reduce each purchase payment used in the calculation of the Minimum Income Base proportionately. The Minimum Income Base is no longer available after the 15th contract anniversary, or after you activate lifetime income, if earlier.

• Excess Withdrawal: Any portion of a lifetime income withdrawal that exceeds the maximum annual withdrawal amount after you activate lifetime income, which then reduces the Income Base. Please see “Withdrawals” on page 6 for more information.

• Required Minimum Distributions (RMDs): If your variable annuity is funding a retirement account, such as an IRA, and you take a withdrawal prior to the Lifetime Income Activation Date to meet your contract’s RMD, such withdrawals will proportionately reduce your Income Base, purchase payment(s) used in the calculation of the Minimum Income Base, and the contract’s Return of Purchase Payment or Maximum Anniversary Value death benefit, if elected. If you take RMD withdrawals on or after the Lifetime Income Activation Date and your RMD withdrawals exceed the feature’s maximum annual withdrawal amount, your Income Base will not be reduced provided RMDs are set up on the company’s systematic withdrawal program.

• Guarantees are backed by the claims-paying ability of the issuing insurance company.

After lifetime income withdrawals begin

After you activate lifetime income, your Income Base can step up on each contract anniversary to lock in your highest daily value (Step-up Value) achieved during the prior contract year.*

Your Income Base is protected from market volatility and will not go down, provided you take withdrawals within the feature’s parameters. Your contract value will continue to go up and down based on investment performance.

If your Income Base increases on your contract anniversary, so does your maximum annual withdrawal amount—providing you with the opportunity for more guaranteed lifetime income. As a reminder, after you activate lifetime income, your highest daily value (Step-up Value) is determined each day, even though the Income Base is not increased until the next contract anniversary.

Income Basein the year

lifetime income

withdrawals begin

Income Base is protected from market volatility in down markets

Highest daily value during contract yearHighest daily value

since lifetime income activation

New Income Base

Contract Value

Income Base is protected from market volatilityin down markets


LIFETIME INCOME Locks in highest daily value on next contract anniversary

Contract AnniversaryContract Anniversary

First lifetime income withdrawal taken

Contract Value

Secure Protected Lifetime Income

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Withdrawal flexibility before you activate lifetime income

If you find that you need access to your money before you activate lifetime income, you may take withdrawals up to the contract’s penalty-free withdrawal amount without incurring withdrawal charges (if applicable). Please see the enclosed product summary brochure or the prospectus to learn more about the penalty-free withdrawal provision associated with the variable annuity you may be considering.

You should know, withdrawals taken before you activate lifetime income will impact your Income Base, Minimum Income Base, future lifetime income, and optional death benefits (if you choose to elect one.) These withdrawals (including Required Minimum Distributions) will proportionately reduce the Income Base, purchase payment(s) used in the calculation of the Minimum Income Base, and the contract’s Return of Purchase Payment or Maximum Anniversary Value death benefit, if elected.

Partial withdrawals also reduce the amount available upon a full surrender. Withdrawals of taxable amounts are subject to ordinary income tax and, if taken prior to age 59½, an additional 10% federal tax may apply. Withdrawals may be subject to withdrawal charges if they exceed certain parameters.

Terms used in this section and important information• Age at time of Lifetime Income Activation: When determining the maximum annual withdrawal percentage, as well as the feature’s

protected income payment percentage, the age at lifetime income activation is based on the age of the covered person for the Single Life option and the age of the younger covered person for the Joint Life option. This age criteria is also used when evaluating eligibility for an increase to the protected income payment percentage, if applicable.

• Covered person(s): The person(s) whose live(s) are used to determine the amount and duration of lifetime income. If there are two covered persons, they must be each other’s spouse.

• Covered person changes: Covered person changes will impact your lifetime income withdrawals, as the maximum annual withdrawal amount is based on Single Life or Joint Life. Certain covered person changes are also allowed prior to or at Lifetime Income Activation for life event changes such as marriage, divorce and death. Please see the prospectus for additional details, including change instructions and age limitations. After you activate lifetime income, changes to your income option and covered person(s) are not allowed.

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Lifetime income options

At the time of purchase, you can choose Income Option 1, 2 or 3. The maximum annual withdrawal amount is based on the income option elected, your choice of Single Life or Joint Life, and age at time of lifetime income activation.

If your income needs change, you have the flexibility to make a one-time change to your income option choice when you activate lifetime income. For example, if you elected Income Option 1, you can change to Income Option 2 or Income Option 3. (An additional fee applies for an income option change. Please see the enclosed product summary flyer for details.)

For no additional fee, you also have the flexibility to make coverage changes at the same time (for example, changing from Single Life to Joint life or vice versa) to help meet varying income needs or as a result of life events like divorce, marriage or death of a spouse. Please see prospectus for details, including change instructions and age limitations.

Maximum Annual Withdrawal Amount (MAWA)(as a percentage of your Income Base)

Income Option 1 Income Option 2 Income Option 3

Age at Lifetime Income Activation

Covered Persons MAWA PIP MAWA PIP MAWA/PIP

45-59Single Life 4.25% 2.75%* 4.25% 2.75%* 3.50% for life

Joint Life 3.25% 2.75%* 3.25% 2.75%* 3.00% for life



65-71Single Life 6.50% 4.50% 7.50% 3.50% 5.50% for life

Joint Life 6.00% 4.50% 7.00% 3.50% 5.00% for life

72+Single Life 7.00% 4.50% 8.00% 3.50% 5.75% for life


* With Income Options 1 and 2, if lifetime income withdrawals begin before age 65 and your Income Base increases to a new Step-up Value on a contract anniversary on or after your 65th birthday, the protected income payment will automatically increase to 4.5% of your Income Base.

The protected income payment (PIP) will be paid in the event the contract value is completely depleted due to market volatility, deduction of fees and/or withdrawals taken within the feature’s parameters, provided the Income Base is greater than zero. The PIP is calculated as a percentage of the Income Base.

To realize the benefits of Polaris Income Plus Daily Flex, you will need to take withdrawals within the parameters of the income option elected. Lifetime income withdrawals that exceed the feature’s parameters are known as excess withdrawals. There is no assurance that withdrawal amounts will keep up with inflation. Partial withdrawals reduce the death benefit available under the contract, as well as the amount available upon a full surrender.

Choose Your Income Option

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Additional information about Polaris Income Plus Daily Flex

Withdrawals• If a withdrawal taken prior to lifetime income activation reduces the contract value to zero, the contract will be terminated, including any

optional benefits and features, and you will not be able to receive lifetime income withdrawals.• On or after lifetime income activation, annual withdrawals of up to the maximum annual withdrawal amount (MAWA) do not reduce the

Income Base. If you take a withdrawal that exceeds the MAWA (known as an “excess withdrawal”), your Income Base will be reduced proportionately by the amount in excess of the MAWA. Excess withdrawals that reduce the Income Base also reduce the MAWA that can be withdrawn under the feature.

• After lifetime income activation, if an excess withdrawal reduces the contract value to zero, the feature will terminate and you will no longer be eligible to receive lifetime income withdrawals.

• The amount available for lifetime income withdrawals may change over time. It may increase if the Income Base increases, or decrease if you take a withdrawal prior to lifetime income activation (or take an excess withdrawal after lifetime income activation) that reduces your Income Base. If you select Income Option 1 or 2 and your contract value is completely depleted due to market volatility, deduction of fees and/or withdrawals taken within the feature’s MAWA, you will receive the protected income payment as indicated on page 5. As a result, the amount available for lifetime income will decrease. If you select Income Option 3 and your contract value is completely depleted due to market volatility, deduction of fees and/or withdrawals taken within the feature’s MAWA, the annual amount of lifetime income will not change; annual income paid to you after this point is simply referred to as the protected income payment.

• If you have elected this income protection feature, lifetime income withdrawals up to the MAWA are free of withdrawal charges. Lifetime income withdrawals that exceed the MAWA may be subject to a withdrawal charge. Please see the enclosed product summary flyer for the withdrawal charge schedule associated with the variable annuity you may be considering.

• Partial withdrawals reduce other benefits available under the contract, such as the death benefit, as well as the amount available upon surrender. See page 4 for more information about withdrawals taken prior to lifetime income activation.

Retirement Accounts• If you use this contract to fund a retirement account and you plan on taking Required Minimum Distributions (RMDs), please see the

prospectus for more information and consult with a tax advisor concerning your particular circumstances. Keep in mind, an investment in a variable annuity within a retirement account provides no additional tax-deferred benefit beyond that provided by the retirement account.

Latest Annuity Date• Upon reaching the Latest Annuity Date (the first New York Stock Exchange business day of the month following your 95th birthday), there

are certain actions you will need to take. If the contract value and the Income Base are greater than zero on the Latest Annuity Date (95th birthday), you will need to select one of these annuity options: 1) Annuitize the contract value under the contract’s annuity provisions. 2) Annuitize the contract and receive payments equal to the MAWA at the Latest Annuity Date for a fixed period. The duration of the fixed period will be determined by dividing the contract value at the Latest Annuity Date by the current MAWA. As long as the covered person(s) is living, this amount will continue for the specified period after which time the protected income payment amount will be paid until the death(s) of the covered person(s). 3) Fully surrender your contract. 4) Elect any annuity income option that is mutually agreeable between you and the issuing insurance company. Please see a prospectus for details.

Cancellation• This feature may be cancelled after a specified time period. Please see the enclosed product summary flyer for details. Amounts allocated

to the Secure Value Account (SVA) will be automatically transferred to the 1-year fixed account, if available. If the 1-year fixed account is not available, the amounts will be transferred to the Goldman Sachs VIT Government Money Market Fund. Once the cancellation becomes effective, the associated fee will no longer be charged going forward. This feature cannot be re-elected following cancellation.

Other Considerations• When the Income Base is increased, it may have the effect of increasing the dollar amount of the fee. When the Income Base is decreased

due to withdrawals taken prior to lifetime income activation or excess withdrawals taken after lifetime income activation, it may have the effect of reducing the dollar amount of the fee.

• Joint Life option: In the event of a death, spousal continuation of the contract must be elected to provide guaranteed income for the lifetime of the remaining spouse. The Joint Life option will automatically be cancelled if a death benefit is paid and the contract is not continued by the spouse, or if the surviving original spouse dies. The Single Life option will automatically be cancelled if a death benefit is paid or if the covered person dies.

• Please see the prospectus for information about what happens in the event of spousal continuation, divorce or other changes affecting the contract owners or beneficiaries.

• If you decide not to take withdrawals under this feature, or you surrender the contract, you will not receive the benefit of the feature. You may pay for the added assurance of this feature and not need to use it. Fees are non-refundable.

• This feature may be automatically terminated under certain circumstances, such as when the contract is annuitized or surrendered. Other circumstances may also apply.

Please see the prospectus for complete details, including limitations and restrictions.

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Additional information• While certain Polaris portfolios may be similar to other funds managed by the same investment adviser, this does not mean that a

portfolio’s investment results will be comparable to the investment results of other similar funds, including other funds with the same investment adviser. There may be material differences between similar funds and the Polaris portfolios, such as fees and expenses, portfolio management, portfolio holdings and the timing of cash flows. The portfolios’ investment results will likely differ, and may be higher or lower than the investment results of other similar funds.

• Please see the back cover for information about the risks associated with the variable portfolios.

Polaris Income Plus Daily Flex offers you investment flexibility and control, along with a choice of two different investment strategies:

With either investment strategy, you may use a Dollar Cost Averaging (DCA) fixed account to systematically invest in the available investment choices. Your target DCA instructions must follow the investment requirements described. If you elect this feature, participation in quarterly automatic asset rebalancing is required.

You may change between these two investment strategies, however you must be fully allocated to one of the two investment strategies at any given time. The investment mix within the chosen strategy may be changed provided you stay within the strategy’s parameters.

Amounts allocated to the Secure Value Account, described on the pages that follow, will not be rebalanced and are not available for transfer as long as the feature is in effect. Keep in mind, because rebalancing resets the allocation among variable portfolios, it may have a positive or negative impact on performance. Immediate rebalancing will occur if you initiate any non-systematic withdrawals or portfolio transfers. The available investment options may reduce the need to rely on an income protection guarantee because they allocate your investment across asset classes and potentially limit exposure to market volatility. If you do not elect an income protection feature, you may invest in any of the investment options offered in Polaris. Please see the Polaris product brochure to learn more.

Investment flexibility and control

Asset Allocation Portfolios

This strategy provides you with the opportunity to choose from one or a combination of 29 different asset allocation portfolios, including actively managed portfolios and passively managed portfolios.

Build Your Own Allocation

This strategy provides you with the flexibility to build a more customized allocation drawing from 77 different investment options that cross 12 asset classes—from Small to Large Cap, Specialty to International.

8

*Managed by SunAmerica Asset Management, LLC (SAAMCo).1The American Funds Portfolios (“Feeder Funds”) that are part of the SunAmerica Series Trust (“SAST”) do not invest directly in individual securities; instead they invest all of their assets in corresponding funds (“Master Funds”) of the American Funds Insurance Series.® Investing in a Feeder Fund will result in higher fees and expenses than investing directly in a Master Fund. Please see the prospectus and Statement of Additional Information for more information regarding the master-feeder fund structure.

2These portfolios employ a volatility control approach that seeks to manage volatility within the portfolio, reduce the incidence of extreme outcomes (including the probability of large losses or gains), and preserve long-term return potential. As a result, a volatility control approach may provide more consistent performance with less risk from market downturns. However, the risk management strategies used by these portfolios could limit the upside participation in strong, increasing markets as compared to a portfolio without such a strategy.

3SA American Funds VCP Managed Allocation (“Feeder Fund”) does not invest directly in individual securities; instead it invests in shares of the American Funds Managed Risk Growth-Income Fund (the “Master Fund”). In turn, the Master Fund invests in shares of two underlying funds, the American Funds Growth-Income Fund and the American Funds Bond Fund (the “Underlying Funds”), hedge instruments (primarily exchange-traded futures and exchange-traded put options) and cash or cash equivalents. Investing in a Feeder Fund will result in higher fees and expenses than investing directly in a Master Fund. Please see the prospectus and Statement of Additional Information for more the master-feeder fund structure.

4Portfolio is structured as a fund-of-funds, which means that it pursues its investment goal by investing in a combination of underlying portfolios rather than investing directly in stocks, bonds, cash and other investments. The portfolio operating expenses for a fund-of-funds are typically higher than those of a traditional portfolio because you pay the expenses of that portfolio and indirectly pay a proportionate share of the expenses of the underlying portfolios.

Actively Managed Asset Allocation Portfolios

■ SA American Funds Asset Allocation1

■ SA BlackRock Multi-Asset Income

■ SA Goldman Sachs Multi-Asset Insights

■ SA JPMorgan Diversified Balanced

■ SA Legg Mason Tactical Opportunities

■ SA MFS Total Return

■ SA PGI Asset Allocation

■ SA Putnam Asset Allocation Diversified Growth

■ SA T. Rowe Price Asset Allocation Growth

■ SA Wellington Strategic Multi-Asset

10%Required

Secure Value Account—This is a required allocation to an interest-earning fixed account with a one-year term

90% Asset Allocation Portfolios—Choose one or a combination of Asset Allocation Portfolios listed below and on page 9.

Actively Managed Asset Allocation Portfolios With Volatility Control2

■ SA American Funds VCP Managed Allocation3

■ SA BlackRock VCP Global Multi Asset

■ SA Invesco VCP Equity-Income

■ SA PIMCO VCP Tactical Balanced

■ SA Schroders VCP Global Allocation

■ SA T. Rowe Price VCP Balanced

■ SA VCP Dynamic Allocation4*

■ SA VCP Dynamic Strategy4*

■ SA VCP Index Allocation4*

If you select this investment strategy, you will need to allocate your initial and additional investments as follows:


9


9


Managed Allocation Portfolios: Equity/fixed income allocations may increase or decrease 5% from the targeted 80/20, 65/35, 55/45 and 40/60 levels.

SA Index Allocation Portfolios and SA Global Index Allocation Portfolios: Equity/fixed income allocations may increase or decrease 10% from the targeted 90/10, 80/20, 60/40 levels of the SA Index Allocation Portfolios, and from the targeted 90/10, 75/25, 60/40 levels of the SA Global Index Allocation Portfolios.

Additional information• While diversification and asset allocation are both proven investment strategies, they can’t guarantee greater or more consistent returns

and they can’t protect against loss.

Actively Managed Asset Allocation Portfolios–(MAPs)4

(Funds-of-Funds)

Target Equity U.S. Equity

Developed Market Equity

Emerging Markets Equity

Fixed Income

■ SA Allocation Growth* 80% 57% 23% 0% 20%

■ SA Allocation Moderate Growth* 65% 47% 18% 0% 35%

■ SA Allocation Moderate* 55% 41% 14% 0% 45%

■ SA Allocation Balanced* 40% 30% 10% 0% 60%

Passive–Index Allocation Portfolios4

(Funds-of-Funds)




Fixed Income

■ SA Index Allocation 90/10* 90% 70% 20% 0% 10%



Passive–Global Index Allocation Portfolios4

(Funds-of-Funds)




Fixed Income

■ SA Global Index Allocation 90/10* 90% 45% 40% 5% 10%



Allocations shown in the tables above are long-term target allocations. The actual allocations will fluctuate due to market conditions and may vary due to changes made by the adviser to the actual allocations. Target equity exposures shown above do not include the 10% required allocation to the Secure Value Account.

Index fund-of-funds are also available for those who want the flexibility to allocate to passively managed investment options. These Portfolios offer simplicity and transparency, along with diversification across a range of asset classes through the underlying funds in which the Portfolios invest. Global Index funds-of-funds are available for those seeking global diversification.

■ U.S. Equity ■ Developed Market Equity ■ Emerging Markets Equity ■ Fixed Income

10

10%Required

Secure Value Account: This is a 10% required allocation to an interest-earning fixed account with a one-year term

90%

Primary Equity and Asset Allocation Portfolios: Up to 80% of your remaining investment may be allocated to these portfolios

Other Equity and Specialty Portfolios: Up to 30% of your remaining investment may be allocated to these portfolios

Fixed Income Portfolios: At least 20% of your remaining investment must be allocated to these portfolios

If you select this investment strategy, you will need to allocate your initial and additional investments as follows:

65

7

5

Polaris Money Managers

*Managed by SunAmerica Asset Management, LLC.5These money managers may be available through SA VCP Dynamic Allocation, SA VCP Dynamic Strategy, and SA Allocation Portfolios offered in Polaris.6SA American Funds Portfolios and SA American Funds VCP Managed Allocation invest in the American Funds Insurance Series,® which has the same investment manager (Capital Research and Management Company) as American Funds.

7SunAmerica Asset Management, LLC (SAAMCo) is affiliated with American General Life Insurance Company and The United States Life Insurance Company in the City of New York.


11



Large Growth■ Invesco V.I. American Franchise■ SA AB Growth■ SA American Funds Growth8

■ SA Janus Focused Growth■ SA Large Cap Growth Index*■ SA MFS Blue Chip Growth■ SA Wellington Capital Appreciation

Large Core■ SA American Funds Growth-Income8

■ SA Large Cap Index*■ SA MFS Massachusetts Investors Trust■ SA Oppenheimer Main Street Large Cap

Large Value■ Invesco V.I. Comstock Fund■ Invesco V.I. Growth and Income Fund■ Lord Abbett Growth and Income■ SA Dogs of Wall Street*■ SA JPMorgan Equity-Income■ SA Large Cap Value Index*■ SA Legg Mason BW Large Cap Value

Small and Mid Cap■ SA Mid Cap Index*■ SA Small Cap Index*

Global and International■ SA Emerging Markets Equity Index*■ SA International Index*■ SA JPMorgan Global Equities■ SA Morgan Stanley International Equities

Asset Allocation■ Franklin Allocation VIP Fund■ Franklin Income VIP Fund■ SA Allocation Balanced*■ SA Allocation Moderate*■ SA Allocation Moderate Growth*■ SA Allocation Growth*■ SA American Funds Asset Allocation8

■ SA BlackRock Multi-Asset Income■ SA Global Index Allocation 60/409*■ SA Global Index Allocation 75/259*■ SA Global Index Allocation 90/109*■ SA Goldman Sachs Multi-Asset Insights■ SA Index Allocation 60/409*■ SA Index Allocation 80/209*■ SA Index Allocation 90/109*■ SA JPMorgan Diversified Balanced■ SA Legg Mason Tactical Opportunities■ SA MFS Total Return■ SA PGI Asset Allocation■ SA Putnam Asset Allocation Diversified Growth■ SA T. Rowe Price Asset Allocation Growth■ SA Wellington Strategic Multi-Asset

Asset Allocation with Volatility Control10

■ SA American Funds VCP Managed Allocation11

■ SA BlackRock VCP Global Multi-Asset■ SA Invesco VCP Equity-Income■ SA PIMCO VCP Tactical Balanced■ SA Schroders VCP Global Allocation■ SA T. Rowe Price VCP Balanced■ SA VCP Dynamic Allocation9*■ SA VCP Dynamic Strategy9*■ SA VCP Index Allocation9*

Primary Equity and Asset Allocation Portfolios (80% maximum allocation to this group. Note: Maximum allocation to any single portfolio in this group is 40%)

8The American Funds Portfolios (“Feeder Funds”) that are part of the SunAmerica Series Trust (“SAST”) do not invest directly in individual securities; instead they invest all of their assets in corresponding funds (“Master Funds”) of the American Funds Insurance Series. Investing in a Feeder Fund will result in higher fees and expenses than investing directly in a Master Fund. Please see the prospectus and Statement of Additional Information for more information regarding the master-feeder fund structure.

9The portfolio operating expenses for a fund-of-funds are typically higher than those of a traditional portfolio because you pay the expenses of the portfolio and indirectly pay a proportionate share of the expenses of the underlying portfolios.

10These portfolios employ a volatility control approach that seeks to manage volatility within the portfolio, reduce the incidence of extreme outcomes (including the probability of large losses or gains), and preserve long-term return potential. As a result, a volatility control approach may provide more consistent performance with less risk from market downturns. However, the risk management strategies used by these portfolios could limit the upside participation in strong, increasing markets as compared to a portfolio without such a strategy.

11SA American Funds VCP Managed Allocation (“Feeder Fund”) does not invest directly in individual securities; instead it invests in shares of the American Funds Managed Risk Growth-Income Fund (the “Master Fund”). In turn, the Master Fund invests in shares of two underlying funds, the American Funds Growth-Income Fund and the American Funds Bond Fund (the “Underlying Funds”), hedge instruments (primarily exchange-traded futures and exchange-traded put options) and cash or cash equivalents. Investing in a Feeder Fund will result in higher fees and expenses than investing directly in a Master Fund. Please see the prospectus and Statement of Additional Information for more information regarding the master-feeder fund structure.

12

Small and Mid Cap■ SA AB Small & Mid Cap Value■ SA Franklin Small Company Value■ SA Invesco Growth Opportunities■ SA JPMorgan Mid-Cap Growth■ SA WellsCap Aggressive Growth

Specialty■ SA Columbia Technology■ SA Fidelity Institutional AM® Real Estate■ SA PineBridge High-Yield Bond

Global and International■ SA American Funds Global Growth8

■ SA Fidelity Institutional AM® International Growth■ SA JPMorgan Emerging Markets■ SA Putnam International Growth and Income■ SA Templeton Foreign Value

Other Equity and Specialty Portfolios(30% maximum allocation to this group. Note: Maximum allocation to any single portfolio in this group is 10%)

Fixed Income Portfolios(20% minimum allocation to this group required; 100% maximum allocation)

Core Fixed Income■ SA DFA Ultra Short Bond■ SA Federated Corporate Bond■ SA Fixed Income Index*■ SA Fixed Income Intermediate Index*■ SA Goldman Sachs Global Bond■ SA JPMorgan MFS Core Bond■ SA Wellington Government and Quality Bond■ SA Wellington Real Return

Money Market■ Goldman Sachs VIT Government Money Market Fund12

*Managed by SunAmerica Asset Management, LLC. 12You could lose money by investing in the Goldman Sachs VIT Government Money Market Fund. Although the Fund seeks to preserve the

value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Goldman Sachs VIT Government Money Market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Goldman Sachs VIT Government Money Market Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

13


PolarisINVESTMENT OPTIONS

Important risks and additional information about Volatility Control Portfolios

Volatility Control Portfolios• While Volatility Control Portfolios employ risk management processes that seek to manage volatility within the Portfolio, volatility may result

from rapid or dramatic price swings. A Portfolio could experience high levels of volatility in both rising and falling markets. Due to market conditions or other factors, the actual or realized volatility of a Portfolio for any particular period of time may be materially higher or lower than the target level. Efforts to manage a Portfolio’s volatility could limit a Portfolio’s gains in rising markets, may expose the Portfolio to costs to which it would otherwise not have been exposed, and if unsuccessful may result in substantial losses.

• Each Portfolio is subject to derivative and leverage risks. These investment strategies may be riskier than other investment strategies and may result in gains or losses substantially greater than the cost of the position. While these strategies can be useful and inexpensive ways of reducing risk, they are sometimes ineffective due to unexpected changes in the market, exchange rates or other factors. When a Portfolio uses derivatives for leverage, the Portfolio will tend to be more volatile, resulting in larger gains or losses in response to the fluctuating prices of the Portfolio’s investments.

• Each Portfolio is subject to other risks including short sales risk and counterparty risk. Losses from short sales are potentially unlimited, whereas losses from purchases can be no greater than the total amount invested. Counterparty risk is the risk that a counterparty will not perform its obligations. Small movements in interest rates (both increases and decreases) may quickly and significantly reduce the value of certain mortgage-backed securities. These securities are also subject to risk of default, particularly during periods of economic downturn. Credit risk (i.e., the risk that an issuer might not pay interest when due or repay principal at maturity of the obligation) could affect the value of the investments in the Portfolio.

• Each Portfolio is subject to risk of conflict with insurance company interests given certain aspects of portfolio management are intended to mitigate the financial risks the insurer faces in connection with optional income protection guarantees.

• Certain Portfolios and their underlying portfolios (if applicable) may engage in frequent trading of portfolio securities to achieve their investment goals. Active trading may result in high portfolio turnover and correspondingly greater transaction costs.

• Equity exposure in Volatility Control Portfolios can vary. Please refer to the trust prospectus for more information.• Investments are subject to certain risks including stock market and interest rate fluctuations, as well as additional risks associated with

investments in certain asset classes. Please see back cover.

SA American Funds VCP Managed Allocation• Hedge assets include cash and liquid transparent financial futures contracts and options that are tailored to the underlying holdings in the

American Funds Growth-Income Fund. Futures contracts on major equity, U.S. Treasury bonds, and currencies are typically used. Futures contracts are used only to reduce risk relative to a long-equity portfolio. In situations of extreme market volatility, the exchange-traded futures could potentially reduce the Master Fund’s net economic exposure to equity securities to 0%.

• The Portfolio is subject to the risk that the strategy that will be used to stabilize the volatility of the Master Fund and reduce its downside exposure may not produce the desired result. In addition, the use of the risk-management overlay may cause the Master Fund’s return to lag that of the underlying fund in certain rising market conditions.

SA BlackRock VCP Global Multi Asset • The Portfolio’s volatility management strategy may adjust the composition of the Portfolio’s riskier assets, such as equity and below investment

grade fixed income securities, and/or may allocate assets away from riskier assets into cash or short-term fixed income securities.• In selecting equity and fixed income investments, judgments that evaluate the attractiveness of countries and sectors may prove incorrect.• The value of the Portfolio’s foreign investments may fluctuate due to changes in currency exchange rates.

SA Invesco VCP Equity-Income• Target volatility level is not a total return performance target. Total return performance is not expected to be within any specified target range. • The ability to achieve current income may be adversely affected if dividends on the Portfolio’s equity securities are reduced or discontinued or

if prevailing interest rates on the Portfolio’s debt securities decline.• Although the Portfolio seeks investments in undervalued companies, judgments that a particular security is undervalued may prove incorrect.

SA PIMCO VCP Tactical Balanced• The Portfolio may invest a significant portion of its assets in derivatives. As a result, performance could be primarily dependent on securities

the Portfolio does not own. • The Portfolio will generally achieve equity exposure by investing in derivatives rather than through direct investments in equity securities. The

Portfolio may also invest directly in equity securities and ETFs to achieve its goal.

SA Schroders VCP Global Allocation • The Portfolio may make substantial use of derivatives. As a result, performance could be primarily dependent on securities the Portfolio

does not own.• In selecting equity and fixed income investments, judgments that evaluate the attractiveness of countries and sectors may prove incorrect.• The value of the Portfolio’s foreign investments may fluctuate due to changes in currency exchange rates.

SA T. Rowe Price VCP Balanced • The Portfolio’s approach for stabilizing volatility may not produce the desired results.• The value of the Portfolio’s foreign investments may fluctuate due to changes in currency exchange rates.

Please see back cover for additional risks associated with the variable portfolios.

13

Additional information about Funds-of-Funds• Investment is subject to market risk including loss of principal. Each of these Portfolio’s risks will directly correspond to the risks of the underlying

portfolios in which it invests including, but not limited to: risks associated with investment in large-cap companies which tend to be less volatile than companies with smaller market capitalizations but whose value may not rise as much as the value of portfolios that emphasize smaller companies; risks of investing in small- and medium-sized companies which are usually more volatile and entail greater risks than securities of large companies; additional or heightened risk associated with investments in foreign markets; interest rate risk; and credit risk. These Portfolios are each subject to the risk that the selection of the underlying portfolios and the allocation and reallocation of the Portfolio’s assets among the various asset classes and market sectors may not produce the desired result. Refer to the Portfolio’s prospectus for more information.

Additional risks associated with the variable portfolios and other information• There is no assurance that a Portfolio’s strategy or investment process will achieve its specific investment objectives. • Portfolios that invest in stocks and bonds are subject to risk, including stock market and interest rate fluctuations. Portfolios that invest in bonds are

subject to changes in their value when prevailing interest rates change. Portfolios that invest in non-U.S. stocks and bonds, including emerging market investments, are subject to additional risks such as political and social instability, differing securities regulations and accounting standards, limited public information, plus special risks that may include foreign taxation, currency risks, risks associated with possible differences in financial standards, and other monetary and political risks associated with future political and economic developments.

• Investments that concentrate on one economic sector or geographic region are generally subject to greater volatility than more diverse investments. Portfolios that invest in technology companies are subject to additional risks and may be affected by short product cycles, aggressive pricing, competition from new market entrants and obsolescence of existing technology. Portfolio returns may be considerably more volatile than a portfolio that does not invest in technology companies.

• Portfolios that invest in small and mid-size company stocks are generally riskier and more volatile than portfolios that invest in larger, more established companies.

• Portfolios that invest in high-yield bonds may be subject to greater price swings than portfolios that invest in higher-rated bonds. The payment of interest and principal is not assured.

• Portfolios that invest in real estate investment trusts (REITs) involve risks such as refinancing, economic conditions in the real estate industry, changes in property values, dependency on real estate management, and other risks associated with a concentration in one sector or geographic region.

• Investments in securities related to gold and other precious metals and minerals are speculative and impacted by a host of worldwide economic, financial and political factors.

• Money managers, with the exception of SunAmerica Asset Management, LLC, are not affiliated with American General Life, US Life or American International Group, Inc. (AIG).

BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). BARCLAYS® is a trademark and service mark of Barclays Bank PLC (collectively with its affiliates, “Barclays”), used under license. Bloomberg or Bloomberg’s licensors, including Barclays, own all proprietary rights in the Bloomberg Barclays Indices. Neither Bloomberg nor Barclays is affiliated with American General Life Insurance Company or The United States Life Insurance Company in the City of New York and neither approves, endorses, reviews or recommends the Polaris Variable Annuities or the portfolios. Neither Bloomberg nor Barclays guarantees the timeliness, accurateness or completeness of any data or information relating to the Bloomberg Barclays U.S. Government/Credit Bond Index or the Bloomberg Barclays U.S. Intermediate Government/Credit Bond Index, and neither shall be liable in any way to American General Life Insurance Company or The United States Life Insurance Company in the City of New York, investors in the Polaris Variable Annuities or other third parties in respect of the use or accuracy of the Bloomberg Barclays U.S. Government/Credit Bond Index, the Bloomberg Barclays U.S. Intermediate Government/Credit Bond Index, or any data included therein.

This material was prepared to support the marketing of Polaris Variable Annuities. American General Life Insurance Company and The United States Life Insurance Company in the City of New York, and their distributors and representatives, cannot provide tax, accounting, or legal advice. Any tax statements in this material are not intended to suggest the avoidance of U.S. federal, state or local tax penalties. Such discussions generally are based upon the company’s understanding of current tax rules and interpretations. Tax laws are subject to legislative modification, and while many such modifications will have only a prospective application, it is important to recognize that a change could have retroactive effect as well. Please seek the advice of an independent tax advisor or attorney for more complete information concerning your particular circumstances and tax statements made in this material.

Annuities are designed for long-term retirement investing. An investment in a Polaris Variable Annuity involves investment risk, including possible loss of principal. The contract, when redeemed, may be worth more or less than the total amount invested. The purchase of Polaris is not required for, and is not a term of, the provision of any banking service or activity. Products and features may vary by state and may not be available in all states. We reserve the right to modify or no longer offer the features described in this brochure. However, once your contract is issued, these features will not change, except as described here and in the prospectus.



©2019 American International Group, Inc. Polaris® is a registered trademark. All rights reserved.

aig.com


R5965IPD (5/19)

Polaris® VariableAnnuity

A Retirement Solution

Polaris Variable Annuities are issued by American General Life Insurance Company (American General Life) except in New York, where they are issued by The United States Life Insurance Company in the City of New York (US Life). Contract and optional benefit guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company.

2

WHEN YOUR GOALS ARE

Performance

Protection

Strength

This material must not be used without a Polaris product summary flyer.


A Polaris Variable Annuity is a long-term investment that combines tax-deferred growth potential, protection features for your family and optional retirement income choices. It can help you while you are building assets in the accumulation phase and when you are ready to draw upon those assets during the income phase. Annuities are insurance products whose gains accumulate tax-deferred and are taxed as ordinary income when withdrawn. Withdrawals of taxable amounts are subject to ordinary income tax and if taken before age 59½, an additional 10% federal tax may apply.

Any investment in a retirement account (such as an IRA) automatically receives the benefit of tax deferral. An investment in a variable annuity provides no additional tax-deferred benefit beyond that provided by the retirement account.


Polaris Variable Annuity



PolarisVARIABLE ANNUITY

1

It all begins with you.Planning today for the comfortable retirement you want tomorrow usually starts with these three priorities:

1 Plan for a long retirement

2 Maintain your lifestyle

3 Participate in market gains, while helping to reduce risk

Address all three, and you may have the foundation for a solid retirement plan. Sound overwhelming? It doesn’t have to be. A Polaris Variable Annuity can help you secure lifetime income for your retirement—wherever it takes you.

With Polaris, you and your insurance and securities licensed financial professional can design a customized solution for a portion of your retirement portfolio.

CONTENTS RETIREMENT PRIORITIES 2

INVESTMENT OPTIONS 7

FAMILY PROTECTION 11

2

1 Plan for a long retirement

Retirement may last longer than you think. With many Americans retiring in their early 60s, it’s easy to see how retirement can last for 30 years or more.

Consider the probability of how long a couple, both age 65, may live:

2 Maintain your lifestyle

With inflation, retirement may also cost more than you think.

Over the past 80 years, inflation has averaged about 3.68% annually. And while that may not seem like a lot, over time, the impact of even moderate inflation can be dramatic. Assuming the same rate of inflation experienced over the past 30 years—approximately 2.5%—potential expenses could more than double over the next 30 years!

Today’s priorities for retirement

Source: Society of Actuaries 2012 Individual Annuitant Mortality Tables. Assumes a couple, both age 65.

50% chance that one spouse will live to age 93

25% chance that one spouse will live to age 97

2019 2049

$60,000

$125,119(if history

repeats itself)

Hypothetical Expenses

Source: Wilshire Compass, 2019.

3

Retirement Priorities

Your financial professional can help you

address today’s retirement priorities

as you plan for your retirement.

The chart above is hypothetical and for illustrative purposes only and does not represent any particular investment. Performance illustrated is not indicative of future results. Performance for specific investments is available from your financial professional. Your financial professional can help you determine what type of investments may be appropriate for you. 1 Source: Wilshire Compass, 2019. T-Bills are represented by the T-Bill Index. Bonds are represented by the US Core Bond Index. Stocks are

represented by the US Large Cap Core Stocks Index. The T-Bill Index, US Core Bond Index and the US Large Cap Core Stocks Index are a proxy of the treasury bill market, bond market and equity market. The indices have been constructed by Wilshire with data from various sources to provide a historical track record. T-Bills and government bonds are subject to interest rate risk, but they are backed by the full faith and credit of the U.S. Government if held to maturity. The repayment of principal and interest of a corporate bond is guaranteed by the issuing company, and subject to default, credit and interest rate risk. Stocks are subject to risk, including stock market fluctuation. Keep in mind, you cannot invest directly in an index; indexes are unmanaged.

2 Source: Ned Davis Research, Inc., based on Dow Jones Industrial Average, daily closes. 3 Average for period shown.

Stock Market Volatility Since 19002

1/2/1900–12/31/2018

Dips (5% or more)

Corrections (10% or more)

Bear Markets (20% or more)

3983.3

per year 3

1271.1

per year 3

32Once every 3.7 years3

3 Participate in potential gains, while reducing downside risk

Stocks historically have outperformed other types of investments over long periods of time. Of course, past performance is not a guarantee of future performance.

While the long-term trend of the stock market has been positive, there have been periods of significant price declines, which can come at the wrong time for your retirement.

Market volatility is to be expected over time. That’s why it’s important to look for ways to reduce downside risk.

Growth of a $1 Investment, 1988–20181

$3

T-Bills Bonds

$6

Stocks

$17

4

How will your income needs change in retirement?

When it comes to planning for retirement income, it’s often assumed that expenses will remain the same throughout retirement—or possibly even rise due to inflation. However, research shows that overall expenditures actually decline throughout retirement, so you may need the most income early in retirement—and less later on.

As you can see illustrated in this table, total expenditures for those age 75+ are 36% less than those age 55-64.

Key questions to consider

Total Annual Expenditures by Age

Annual Spending

Age 55-64

Age 65-74

Age 75+

% Change55–75+

Apparel & Services $1,720 $1,420 $866 -50%

Entertainment 3,444 3,327 1,657 -52%

Food & Alcohol 8,514 7,360 5,960 -30%

Healthcare 5,777 6,723 6,475 +12%

Housing 20,127 18,068 14,692 -27%

Transportation 10,185 8,939 5,519 -46%

Miscellaneous & Other 6,500 5,069 4,660 -28%

Personal Insurance & Other 8,705 4,091 2,020 -77%

Total Expenditures $64,972 $54,997 $41,849 -36%

*Source: U.S. Department of Labor, Bureau of Labor Statistics, Consumer Expenditure Survey, September 2018.

$64,972$54,997

$41,849

5

Key Questions

What if you retire at the “wrong” time?

It’s important to consider the order in which you encounter positive and negative investment returns, also known as the “sequence of returns.”

• During the accumulation years, when income is not being withdrawn, the sequence of returns has no impact on ending values over time. For example, if an investor with a $100,000 investment earned an average return of 4.9%* over an accumulation period of 10 years, it makes no difference whether strong returns or negative returns are encountered early on. The ending value would be $140,146 in either case.

• However, once you begin taking withdrawals from your investment, the sequence of returns can become more critical. In the example below, the average return over ten years for both investors is 4.9%.* But when $5,000 is withdrawn each year from an initial investment of $100,000, the investor who experienced negative returns in the early years of retirement was left with $58,419 after 10 years. That’s $38,631, or 40% less, than the investor who encountered strong returns in the early years of retirement and had $97,050 after 10 years.

*Note: Return shown is the arithmetic average return.

The above illustrations are hypothetical. They are not intended to be indicative of the performance of a specific investment option. The examples above do not take into consideration any annual fees or taxes, which if shown, would lower results illustrated. Performance illustrated is not indicative of future results.

YearInvestor A: Experiences Early Gains Investor B: Experiences Early Losses

Return $100,000 Withdrawal Return $100,000 Withdrawal

1 27% $122,000 $5,000 2% $97,000 $5,000

2 16% $136,520 $5,000 -29% $63,870 $5,000

3 21% $160,189 $5,000 -14% $49,928 $5,000

4 -10% $139,170 $5,000 17% $53,416 $5,000

5 8% $145,304 $5,000 11% $54,292 $5,000

6 11% $156,287 $5,000 8% $53,635 $5,000

7 17% $177,856 $5,000 -10% $43,272 $5,000

8 -14% $147,956 $5,000 21% $47,359 $5,000

9 -29% $100,049 $5,000 16% $49,936 $5,000

10 2% $97,050 $5,000 27% $58,419 $5,000

Average Return 4.9%*

Average Return 4.9%*

The Sequence of Returns Matters

6

Consider an optional income protection feature

If you’re concerned about market volatility impacting your retirement income, consider an optional income protection feature, available for an additional annual fee. A Polaris Variable Annuity with an optional income protection feature can offer you:

• The opportunity to grow your future retirement income

• An Income Base that is protected from market volatility*

• Guaranteed lifetime income for you—or you and your spouse

You may only elect an income protection feature at the time of purchase. Certain investment requirements will apply. The Income Base is the amount on which guaranteed withdrawals and the annual fee for the feature are based. It is not a liquidation value nor is it available as a lump sum. As an alternative to electing an optional income protection feature, you can annuitize your contract and receive income payments for life at no additional cost. Contract and optional benefit guarantees are backed by the claims-paying ability of the issuing insurance company.

Please see the enclosed brochure to learn more about the income protection feature you may be considering.

*Note: If you take withdrawals prior to activating lifetime income, or you take withdrawals that exceed the feature’s parameters after you activate lifetime income, the Income Base will be reduced.

Is your retirement income protected against market volatility?

To help protect against the unexpected, you insure

what’s important to you—whether it’s your home,

your car or even your life. Shouldn’t you consider

doing the same with your retirement income?

Today’s priorities for retirement

7

Polaris Variable Annuities offer you access to leading money managers, a broad range of individual variable portfolios and professionally designed asset allocation strategies.

The investment choices described in this brochure are available if you do not elect a Polaris optional income protection feature. Your financial professional can help you choose an investment allocation from a wide range of investments from experienced money managers.


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Design your investment

The Fidelity Investments logo is a registered service mark of FMR LLC. Used with permission.4These money managers may be available through SA VCP Dynamic Allocation, SA VCP Dynamic Strategy, and SA Allocation Portfolios offered in Polaris. 5SA American Funds Portfolios and SA American Funds VCP Managed Allocation invest in the American Funds Insurance Series,® which has the same investment manager (Capital Research and Management Company) as American Funds. 6SunAmerica Asset Management, LLC (SAAMCo) is affiliated with AGL and US Life.

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ASSET CLASS PORTFOLIO MONEY MANAGER(S)

Large Growth

Invesco V.I. American Franchise Fund Invesco Advisers, Inc.SA AB Growth AllianceBernstein L.P.SA American Funds Growth7,8 Capital Research and Management CompanySA Janus Focused Growth Janus Henderson InvestorsSA Large Cap Growth Index SunAmerica Asset Management, LLCSA MFS Blue Chip Growth Massachusetts Financial Services CompanySA Wellington Capital Appreciation Wellington Management Company LLP

Large Core

SA American Funds Growth-Income7,8 Capital Research and Management CompanySA Large Cap Index SunAmerica Asset Management, LLCSA MFS Massachusetts Investors Trust Massachusetts Financial Services CompanySA Oppenheimer Main Street Large Cap OppenheimerFunds, Inc.

Large Value

Invesco V.I. Comstock Fund Invesco Advisers, Inc.Invesco V.I. Growth & Income Fund Invesco Advisers, Inc.Lord Abbett Growth and Income Lord, Abbett & Co. LLCSA Dogs of Wall Street SunAmerica Asset Management, LLCSA JPMorgan Equity-Income J.P. Morgan Investment Management Inc.SA Large Cap Value Index SunAmerica Asset Management, LLCSA Legg Mason BW Large Cap Value Brandywine Global Investment Management, LLC

Small and Mid Cap

SA AB Small & Mid Cap Value AllianceBernstein L.P.SA Franklin Small Company Value Franklin Mutual Advisers, LLCSA Invesco Growth Opportunities Invesco Advisers, Inc.SA JPMorgan Mid-Cap Growth J.P. Morgan Investment Management Inc.SA Mid Cap Index SunAmerica Asset Management, LLCSA Small Cap Index SunAmerica Asset Management, LLCSA WellsCap Aggressive Growth Wells Capital Management Incorporated

SpecialtySA Columbia Technology Columbia Management Investment Advisers, LLCSA Fidelity Institutional AM® Real Estate FIAM LLCSA PineBridge High-Yield Bond PineBridge Investments, LLC

Global SA American Funds Global Growth7,8 Capital Research and Management CompanySA JPMorgan Global Equities J.P. Morgan Investment Management Inc.

International

SA Emerging Markets Equity Index SunAmerica Asset Management, LLCSA Fidelity Institutional AM® International Growth FIAM LLCSA International Index SunAmerica Asset Management, LLCSA JPMorgan Emerging Markets J.P. Morgan Investment Management Inc.SA Morgan Stanley International Equities Morgan Stanley Investment Management Inc.SA Putnam International Growth and Income Putnam Investment Management, LLCSA Templeton Foreign Value Templeton Investment Counsel, LLC

7The American Funds Portfolios (“Feeder Funds”) that are part of the SunAmerica Series Trust (“SAST”) do not invest directly in individual securities; instead they invest all of their assets in corresponding funds (“Master Funds”) of the American Funds Insurance Series®. 8Investing in a Feeder Fund will result in higher fees and expenses than investing directly in a Master Fund. Please see the prospectus and Statement of Additional Information for more information regarding the master-feeder fund structure. 9The portfolio operating expenses for a fund-of-funds are typically higher than those of a traditional portfolio because you pay the expenses of the portfolio and indirectly pay a proportionate share of the expenses of the underlying portfolios. 10SA American Funds VCP Managed Allocation (“Feeder Fund”) does not invest directly in individual securities; instead it invests in shares of the American Funds Managed Risk Growth-Income Fund (the “Master Fund”). In turn, the Master Fund invests in shares of two underlying funds, the American Funds Growth-Income Fund and the American Funds Bond Fund (the “Underlying Funds”), hedge instruments (primarily exchange-traded futures and exchange-traded put options) and cash or cash equivalents.

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Investment Options

ASSET CLASS PORTFOLIO MONEY MANAGER(S)

Asset Allocation

Franklin Allocation VIP Fund Franklin Templeton Services, LLCFranklin Income VIP Fund Franklin Advisers, Inc.SA Allocation Balanced9 SunAmerica Asset Management, LLCSA Allocation Moderate9 SunAmerica Asset Management, LLCSA Allocation Moderate Growth9 SunAmerica Asset Management, LLCSA Allocation Growth9 SunAmerica Asset Management, LLCSA American Funds Asset Allocation7,8 Capital Research and Management CompanySA BlackRock Multi-Asset Income BlackRock Investment Management, LLCSA Global Index Allocation 60/40 9 SunAmerica Asset Management, LLCSA Global Index Allocation 75/25 9 SunAmerica Asset Management, LLCSA Global Index Allocation 90/109 SunAmerica Asset Management, LLCSA Goldman Sachs Multi-Asset Insights Goldman Sachs Asset Management, L.P.SA Index Allocation 60/40 9 SunAmerica Asset Management, LLCSA Index Allocation 80/20 9 SunAmerica Asset Management, LLCSA Index Allocation 90/109 SunAmerica Asset Management, LLCSA JPMorgan Diversified Balanced J.P. Morgan Investment Management Inc.SA Legg Mason Tactical Opportunities QS Investors, LLCSA MFS Total Return Massachusetts Financial Services CompanySA PGI Asset Allocation Principal Global Investors, LLCSA Putnam Asset Allocation Diversified Growth Putnam Investment Management, LLCSA T. Rowe Price Asset Allocation Growth T. Rowe Price Associates, Inc.SA Wellington Strategic Multi-Asset Wellington Management Company LLP

Asset Allocation with Volatility Control

SA American Funds VCP Managed Allocation8,10 Capital Research and Management CompanySA BlackRock VCP Global Multi Asset BlackRock Investment Management, LLCSA Invesco VCP Equity-Income Invesco Advisers, Inc.SA PIMCO VCP Tactical Balanced Pacific Investment Management Company LLCSA Schroders VCP Global Allocation Schroder Investment Management North AmericaSA T. Rowe Price VCP Balanced T. Rowe Price Associates, Inc.SA VCP Dynamic Allocation 9 SunAmerica Asset Management, LLCSA VCP Dynamic Strategy 9 SunAmerica Asset Management, LLCSA VCP Index Allocation9 SunAmerica Asset Management, LLC

Core Fixed Income

SA DFA Ultra Short Bond Dimensional Fund Advisors LPSA Federated Corporate Bond Federated Investment Management CompanySA Fixed Income Index SunAmerica Asset Management, LLCSA Fixed Income Intermediate Index SunAmerica Asset Management, LLCSA Goldman Sachs Global Bond Goldman Sachs Asset Management International

SA JPMorgan MFS Core BondJ.P. Morgan Investment Management Inc./Massachusetts Financial Services Company

SA Wellington Government and Quality Bond Wellington Management Company LLPSA Wellington Real Return Wellington Management Company LLP

Money MarketGoldman Sachs VIT Government Money

Market FundGoldman Sachs Asset Management, L.P.

You could lose money by investing in the Goldman Sachs VIT Government Money Market Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Goldman Sachs VIT Government Money Market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Goldman Sachs VIT Government Money Market Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Additional information about investing in the variable portfolios

• While certain Polaris portfolios may be similar to other funds managed by the same investment adviser, this does not mean that a portfolio’s investment results will be comparable to the investment results of other similar funds, including other funds with the same investment adviser. There may be material differences between similar funds and the Polaris portfolios, such as fees and expenses, portfolio management, portfolio holdings and the timing of cash flows. The portfolios’ investment results will likely differ, and may be higher or lower than the investment results of other similar funds.

• Money managers, with the exception of SunAmerica Asset Management, LLC, are not affiliated with American General Life Insurance Company, The United States Life Insurance Company in the City of New York or American International Group, Inc. (AIG).

• There is no assurance that a portfolio’s strategy or investment process will achieve its specific investment objectives.• Portfolios that invest in stocks and bonds are subject to risk, including stock market and interest rate fluctuations. Portfolios that invest in

bonds are subject to changes in their value when prevailing interest rates change. Portfolios that invest in non-U.S. stocks and bonds, including emerging market investments, are subject to additional risks such as political and social instability, differing securities regulations and accounting standards, limited public information, plus special risks that may include foreign taxation, currency risks, risks associated with possible differences in financial standards, and other monetary and political risks associated with future political and economic developments.






Additional information about SA Allocation Portfolios, SA Global Index Allocation Portfolios, SA Index Allocation Portfolios, SA VCP Dynamic Portfolios and SA VCP Index Allocation• Investment in these portfolios is subject to market risk including loss of principal. Each of these Portfolio’s risks will directly correspond to

the risks of the underlying portfolios in which it invests including, but not limited to: risks associated with investment in large-cap companies which tend to be less volatile than companies with smaller market capitalizations but whose value may not rise as much as the value of portfolios that emphasize smaller companies; risks of investing in small- and medium-sized companies which are usually more volatile and entail greater risks than securities of large companies; additional or heightened risk associated with investments in foreign markets; interest rate risk; and credit risk. These Portfolios are each subject to the risk that the selection of the underlying portfolios and the allocation and reallocation of the Portfolio’s assets among the various asset classes and market sectors may not produce the desired result. Refer to the Portfolio’s prospectus for more information.

• These Portfolios are structured as fund-of-funds, which means that they pursue their investment goal by investing in a combination of underlying portfolios rather than investing directly in stocks, bonds, cash and other investments.

Additional information about Volatility Control Portfolios• While Volatility Control Portfolios employ risk management processes that seek to manage volatility within the Portfolio, volatility may result


• Equity exposure in Volatility Control Portfolios can vary. Please refer to the trust prospectus for more information.

Portfolios and money managers are subject to change.

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Choose from different levels of protection

You will need to elect a death benefit at the time of purchase. Keep in mind, once elected, the death benefit may not be changed or cancelled. Please see the Polaris product summary flyer to learn more about the costs and any restrictions associated with each of these death benefits.

• Return of Purchase Payment Death Benefit provides the beneficiaries you name on your contract with the greater of contract value or purchase payments, adjusted for withdrawals. The maximum issue age for this death benefit is 85.

• Maximum Anniversary Value Death Benefit provides enhanced protection by locking in investment gains for your family. The maximum issue age for this death benefit is 80. The Maximum Anniversary Value Death Benefit provides your beneficiaries with the greatest of:

• Contract value; or• Purchase payments (adjusted for withdrawals); or• The highest value of your contract on any contract anniversary prior to your 83rd birthday (adjusted for

withdrawals and purchase payments since that anniversary).

• Contract Value Death Benefit provides your beneficiaries with the contract value at the time of death. The maximum issue age for this death benefit is 85.

When calculating the contract’s death benefit, adjustments are made to account for additional purchase payments, withdrawals, and any charges applicable to withdrawals. The calculation will differ if an income protection feature is elected. Please see “additional information” on page 12.

The spousal continuation option. If your spouse is the joint owner or sole beneficiary of your contract, the spousal continuation option allows your spouse to continue the contract rather than take the death benefit distribution. This option is available with each of the death benefits at no additional cost. Please see the prospectus to learn more.

Note: The Contract Value Death Benefit may not be available in all firms or limitations may apply.

Additional information about death benefits, including definitions• Contract value: The value of the contract at the time all required paperwork, including proof of death, is received.• Anniversary value: The contract value on each contract anniversary.• Purchase payments: The money you invest in your variable annuity, as well as any additional money you invest after your initial purchase.

No additional purchase payments are accepted on or after your 86th birthday. • Your age at the time your contract is issued will determine the availability of the Maximum Anniversary Value Death Benefit. • If you are a spouse age 86 or older continuing a contract under spousal continuation, the contract’s death benefit will be equal to contract value.• Maximum issue age may lower at certain firms. Please check with your financial professional.

Valuable protection for your family

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These hypothetical family protection illustrations help to show how the different death benefit choices can work.

Additional information about death benefits, including definitions• If you elect an income protection feature and take withdrawals prior to Lifetime Income Activation, such withdrawals will reduce optional

death benefits in the same proportion that the withdrawal reduced the contract value on the date of your withdrawal. After you activate lifetime income, withdrawals taken before your 81st birthday that are within the maximum annual withdrawal amount reduce the death benefit by the amount withdrawn. Withdrawals taken after lifetime income activation that exceed the maximum annual withdrawal amount are considered excess withdrawals; excess withdrawals reduce the death benefit proportionately. If you do not elect an income protection feature (or you elect one and take lifetime income withdrawals on or after your 81st birthday), the death benefit will be reduced proportionately. Please see the prospectus for additional details.

• If your variable annuity contract is annuitized, the death benefit no longer applies. However, if you die during the annuity payout phase, your beneficiary may receive any remaining guaranteed income payments, depending upon which annuity payout option you selected.

Hypothetical illustrations are not to scale and are intended solely to depict how the available death benefits can work. Annual market returns illustrated are hypothetical. Hypothetical contract value assumes an initial purchase payment at contract issue, no additional purchase payments and no withdrawals. Illustration does not reflect to performance of any particular investment.

Return of Purchase Payment Death Benefit

Maximum Anniversary Value Death Benefit

Offers protection in declining markets:

1 Provides a return of purchase payments, adjusted for withdrawals, or

2 Contract value, if greater

Offers enhanced protection:

1 Locks in potential investment gains on contract anniversaries for beneficiaries, or

2 Returns purchase payments, adjusted for withdrawals, or

3 Provides contract value, if greater

1

2

Initial Purchase


Contract Value

1

2

3

Initial Purchase


Contract Value

For more than two decades, Polaris Variable Annuities have been helping

investors address their long-term retirement needs.

The life insurance companies that issue Polaris Variable Annuities are leading

providers of annuities in the U.S. Together these companies rank as the

number one issuer of annuities in the U.S. (Source: LIMRA. Ranking based on

2018 total annuity sales.)

Your financial professional can help you determine if Polaris is right for you.

Polaris. For Those Who Want More®

This material was prepared to support the marketing of Polaris Variable Annuities. American General Life Insurance Company (AGL) and The United States Life Insurance Company in the City of New York (US Life), and their distributors and representatives, cannot provide tax, accounting or legal advice. Any tax statements in this material are not intended to suggest the avoidance of U.S. federal, state or local tax penalties. Such discussions generally are based upon the company’s understanding of current tax rules and interpretations. Tax laws are subject to legislative modification, and while many such modifications will have only a prospective application, it is important to recognize that a change could have retroactive effect as well. Please seek the advice of an independent tax advisor or attorney for more complete information concerning your particular circumstances and tax statements made in this material.

An investment in a Polaris Variable Annuity involves investment risk, including possible loss of principal. The contract, when redeemed, may be worth more or less than the total amount invested. The purchase of Polaris is not required for, and is not a term of, the provision of any banking service or activity. Products and features may vary by state and may not be available in all states. We reserve the right to modify or no longer offer the features described in this brochure. However, once your contract is issued, these features will not change, except as described here and in the prospectus.




aig.com


R5965CON (5/19)

Polaris Income Plus

FlexSM

An optional income protection feature available in Polaris Variable Annuities

Polaris Income Plus Flex is available at contract issue for an additional annual fee in select Polaris Variable Annuities. Guarantees are backed by the claims-paying ability of the issuing insurance company. This brochure must be used in conjunction with the Polaris Variable Annuity product brochure; it cannot be used alone.



Secure protected lifetime income for retirement

Polaris Income Plus Flex is an optional income protection feature that offers you the opportunity to capture potential investment gains annually for future income, with the opportunity to receive an income credit.

Polaris Income Plus Flex provides:

• The opportunity for rising income. Polaris Income Plus Flex “locks in” to your Income Base the greater of your investment gains or an annual income credit of up to 6% (calculated as a percentage of your Income Credit Base) on each contract anniversary during the first 12 contract years (called the “income credit period”). The Income Base is the amount on which guaranteed withdrawals and the feature’s annual fee are based. The full 6% income credit is available each year during the income credit period before you activate lifetime income. After you activate lifetime income, a partial income credit is available during the first 12 contract years provided withdrawals are less than 6%, do not exceed the maximum annual withdrawal amount, and contract value remains.

• Opportunity for a Minimum Income Base. On the 12th contract anniversary, if you have not activated lifetime income, your Income Base is guaranteed to be at least 200% of your purchase payments received in the first contract year plus 100% of purchase payments received after the first contract year, each adjusted proportionately for withdrawals. This is referred to as the Minimum Income Base.

• Income that can continue to rise with the market. After the first 12 contract years, income credits are no longer available. However, your income will continue to have the opportunity to increase from investment gains on contract anniversaries, provided contract value remains. Please see the prospectus for complete details.


PolarisINCOME PLUS FLEX

• Annual withdrawal rates as high as 7.5% at age 65 (Single Life). An even higher withdrawal rate is available at older ages. Polaris Income Plus Flex offers you a choice of three lifetime income options, along with the flexibility to change your income option choice for an additional fee when you activate lifetime income. With certain income options, the amount available for lifetime income is reduced if your contract value is completely depleted due to market volatility, deduction of fees and/or withdrawals taken within the feature’s parameters.

• Guaranteed lifetime income. When you’re ready to receive lifetime income under this feature, you must activate lifetime income by completing the Lifetime Income Activation/Withdrawal form, choosing your Lifetime Income Activation Date and submitting the form to us. As an alternative to electing an optional income protection feature, you can annuitize your contract and receive income payments for life at no additional cost.

If you elect this feature, the investment requirements described on page 9 will apply. One income protection feature may be elected at the time of purchase. You have the flexibility to make a one-time change to your income option when activating lifetime income, as described on page 7. The feature may be cancelled as described on page 8 and in the prospectus. Contract and optional benefit guarantees are backed by the claims-paying ability of the issuing insurance company.

Depending on investment performance and your income needs, you may not need to rely on this optional income protection feature, which is available at contract issue for an additional initial fee rate of 1.25% of the Income Base (Single Life and Joint Life). The fee rate is guaranteed for one year. After that time, it will be adjusted quarterly and may decrease or increase based on a predetermined, non-discretionary formula. The minimum issue age for this feature is 45 and the maximum issue age is 80. Please see the prospectus for details regarding minimum and maximum fees, age restrictions and other limitations.

Help protect your retirement income from market volatility and secure a source of income that’s guaranteed for life.

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Important information about the hypothetical illustrations shown• Hypothetical illustrations are not to scale and are intended solely to depict how Polaris Income Plus Flex can work. The “Accumulation Phase”

examples assume no withdrawals are taken during the period illustrated. Annual market returns illustrated are hypothetical. Hypothetical examples assume an initial purchase payment at contract issue and no additional purchase payments. Illustrations do not reflect the actual performance of any particular investment.

Terms used in this section• Lifetime Income Activation Date (“Activation Date”): The date provided by you in writing on our form to begin taking lifetime income

under the feature. The Activation Date is also the date of the first lifetime income withdrawal taken by you. Changes cannot be made to the covered person(s) or the income option after the Activation Date.

• Income Base: The amount on which guaranteed withdrawals and the annual fee for the feature are based. It is not a liquidation value nor is it available as a lump sum. The Income Base is initially equal to the first purchase payment. The Income Base will be increased each time a purchase payment is made. On each contract anniversary, the Income Base is set to equal the greater of (a) the higher anniversary value, or (b) the Income Base plus the income credit amount (if eligible) during the income credit period. The Income Base is automatically evaluated on contract anniversaries while the contract value is greater than zero and the feature is still in effect, provided you have not reached the Latest Annuity Date (95th birthday). On the 12th contract anniversary, if you have not activated lifetime income, the Income Base may be increased to the Minimum Income Base (200% of purchase payments received in the first contract year plus 100% of purchase payments received after the first contract year, each adjusted proportionately for withdrawals). Prior to the Activation Date, the Income Base will be reduced proportionately for any withdrawals. On or after the Activation Date, the Income Base will be reduced proportionately for excess withdrawals.

• Income Credit: The amount that may be added to your Income Base, calculated as a percentage of your Income Credit Base.

Before you activate lifetime income, the full 6% income credit is available on each contract anniversary during the first 12 contract years. This ensures a rising Income Base for future income—no matter how the market performs.

Age 60 61 62 63 64 65

Contract Value

Locks in an annual 6% income credit

ACCUMULATION A 6% income credit for up to 12 years

Assumed age at contract issue: 60Income credit

Before lifetime income withdrawals begin

Polaris Income Plus Flex is designed to offer you the potential for more retirement income by locking into your Income Base the greater of an annual income credit or investment gains during the first 12 contract years.

Income Base

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3

• Income Credit Base: A component of the feature that is used to calculate the income credit. Initially, the Income Credit Base is equal to the first purchase payment. It will be increased each time a purchase payment is made. If the Income Base steps up to your higher anniversary value on a contract anniversary, your Income Credit Base will also step up to this amount. Please note that the Income Credit Base is not increased if your Income Base steps up due to the addition of the income credit. Prior to the Activation Date, the Income Credit Base will be reduced proportionately for any withdrawals. On or after the Activation Date, the Income Credit Base will be reduced proportionately for excess withdrawals.

• Income Credit Period: The period of time over which an income credit may be added to the Income Base. It begins on the contract issue date and ends 12 years later.

• Note: If you use this contract to fund a retirement account and plan on taking Required Minimum Distributions (RMDs) during the first 12 contract years, such withdrawals will proportionately reduce the purchase payment(s) used in the calculation of the Minimum Income Base, as well as the Income Base and Income Credit Base, if withdrawals are taken prior to the Activation Date.

On the 12th contract anniversary, if you have not activated lifetime income, your Income Base is guaranteed to be at least 200% of your purchase payments received in the first contract year plus 100% of purchase payments received after the first contract year (each adjusted proportionately for withdrawals)–regardless of market performance. This is referred to as the Minimum Income Base.

ACCUMULATION Opportunity for a Minimum Income Base

Income Base

Contract Value

First-year purchase payments can double on 12th contract anniversary

Age 53 54 55 56 57 58 59 60 61 62 63 64 65

on 12th contract anniversary

Assumed age at contract issue: 53

Income credit

During the first 12 contract years, the Income Base increases on each contract anniversary from the greater of investment gains or a 6% income credit. When the Income Base increases from investment gains, the Income Credit Base is also increased to this amount, which in turn increases the amount of the 6% income credit available in future years.

Age 60 61 62 63 64 65

Contract Value

Locks in greater of investment gains or a 6% income credit

ACCUMULATION Income Base increases on each anniversary


Income credit Investment gains

Income Base

Growth Potential for Future Income

44

Additional terms used in this section and important information• Excess Withdrawal: Any portion of a lifetime income withdrawal that exceeds the maximum annual withdrawal amount after you activate

lifetime income, which then reduces the Income Base and Income Credit Base proportionately. Please see “Withdrawals” on page 8 for more information.

• Anniversary Value: The contract value on your contract anniversary (including any spousal continuation contributions).• Higher Anniversary Value: The current anniversary value that is greater than the current Income Base.• The opportunity for rising income (including guaranteed rising income during the first 12 contract years) ends if the contract value is

completely depleted.

After activating lifetime income, your withdrawals are calculated as a percentage of the Income Base, an amount that is protected for life for income—no matter how the market performs. Keep in mind, the Income Base is not the same as your contract value. The Income Base is not a liquidation value, nor is it available as a lump sum.

LIFETIME INCOME Income Base is protected from market volatility

Income Base

Age 65 66 67 68 69

Contract Value

Downside protection at all times


To realize the benefits of Polaris Income Plus Flex, you will need to take withdrawals within the parameters of the feature and income option elected. Lifetime income withdrawals that exceed the feature’s parameters are known as excess withdrawals. There is no assurance that withdrawal amounts will keep up with inflation. Partial withdrawals reduce the death benefit available under the contract, as well as the amount available upon a full surrender. Withdrawals of taxable amounts are subject to ordinary income tax and, if taken prior to age 59½, an additional 10% federal tax may apply. Withdrawals may be subject to withdrawal charges if they exceed certain parameters.

After lifetime income withdrawals begin

After you activate lifetime income, Polaris Income Plus Flex continues to offer you valuable protection from market declines, along with the opportunity for growth.

5


5

• Required Minimum Distributions (RMDs): If your variable annuity is funding a retirement account, such as an IRA, and you take RMD withdrawals on or after the Lifetime Income Activation date, you will still be eligible for a partial income credit provided RMD withdrawals are less than 6% of the Income Base. If your RMD withdrawals exceed the feature’s maximum annual withdrawal amount, your Income Credit Base and Income Base will not be reduced, provided RMDs are set up on the company’s systematic withdrawal program. Any portion of a withdrawal in a contract year which exceeds the greater of the RMD or the maximum annual withdrawal amount will be considered an excess withdrawal. Please see page 8 for additional information, including important information concerning withdrawals.

If the Income Base “steps up” from investment gains on a contract anniversary in a rising market, so does your income.

Income Base

Guaranteed lifetime income increases whenever the Income Base “steps up”

LIFETIME INCOME Opportunity to “lock in” investment gains for rising income

Contract Value

Age 65 66 67 68 69

Assumed age at contract issue: 65Investment gains

If you activate lifetime income and take withdrawals of less than 6% of the Income Base within the feature’s parameters during the first 12 contract years, you can receive a partial income credit for guaranteed rising income—even if the market is flat or down . (In a rising market, Polaris Income Plus Flex locks in the greater of investment gains or the available income credit on your contract anniversary.)

During the first 12 contract years, the available 6% income credit is simply reduced by the percentage of the Income Base withdrawn. For example, if you withdraw 5% in a given year, if eligible, the available income credit on the next contract anniversary will be 1% (6% - 5%).

LIFETIME INCOME Guaranteed rising income

Income Base

Contract Value

Locks in a partial income credit when lifetime income withdrawals of less than 6% and within the feature’s parameters are taken

Age 65 66 67 68 69 70 71 72 73 74 75 76 77


Income credit

6% - 5% = 1%

Protected Lifetime Income

66

Withdrawal flexibility before you activate lifetime income

If you find that you need access to your money before you activate lifetime income, you may take withdrawals up to the contract’s penalty-free withdrawal amount without incurring withdrawal charges. Please see the enclosed product summary flyer or the prospectus to learn more about the penalty-free withdrawal provision associated with the variable annuity you may be considering.

You should know, withdrawals taken before you activate lifetime income will impact your Income Base, Income Credit Base, Minimum Income Base, future lifetime income, and optional death benefits (if you choose to elect one). These withdrawals (including Required Minimum Distributions) will proportionately reduce the Income Base, Income Credit Base, purchase payment(s) used in the calculation of the Minimum Income Base, and the contract’s Return of Purchase Payment or Maximum Anniversary Value death benefit, if elected.

Partial withdrawals also reduce the amount available upon a full surrender. Withdrawals of taxable amounts are subject to ordinary income tax and, if taken prior to age 59½, an additional 10% federal tax may apply. Withdrawals may be subject to withdrawal charges if they exceed certain parameters.

Additional terms used in this section and important information• Age at time of Lifetime Income Activation: When determining the maximum annual withdrawal percentage, as well as the feature’s

protected income payment percentage, the age at lifetime income activation is based on the age of the covered person for the Single Life option and the age of the younger covered person for the Joint Life option. This age criteria is also used when evaluating eligibility for an increase to the protected income payment percentage, if applicable.

• Covered person(s): The person(s) whose live(s) are used to determine the amount and duration of lifetime income. If there are two covered persons, they must be each other’s spouse.

• Covered person changes: Covered person changes will impact your lifetime income withdrawals, as the maximum annual withdrawal amount is based on Single Life or Joint Life. Certain covered person changes are also allowed prior to or at Lifetime Income Activation for life event changes such as marriage, divorce and death. Please see the prospectus for additional details, including change instructions and age limitations. After you activate lifetime income, changes to your income option and covered person(s) are not allowed.

7


7

Lifetime income options

At the time of purchase, you can choose Income Option 1, 2 or 3. The maximum annual withdrawal amount is based on the income option elected, your choice of Single Life or Joint Life, and age at time of lifetime income activation.

If your income needs change, you have the flexibility to make a one-time change to your income option choice when you activate lifetime income. For example, if you elected Income Option 1, you can change to Income Option 2 or Income Option 3. (An additional fee applies for an income option change. Please see the enclosed product summary flyer for details.)

For no additional fee, you also have the flexibility to make coverage changes at the same time (for example, changing from Single Life to Joint Life or vice versa) to help meet varying income needs or as a result of life events like divorce, marriage or death of a spouse. Please see prospectus for details, including change instructions and age limitations.

Maximum Annual Withdrawal Amount (MAWA)(as a percentage of your Income Base)

Income Option 1 Income Option 2 Income Option 3

Age at Lifetime Income Activation

Covered Persons MAWA PIP MAWA PIP MAWA/PIP





65-71Single Life 6.5% 4.5% 7.5% 3.5% 5.50% for life


72+Single Life 7.0% 4.5% 8.0% 3.5% 5.75% for life


* If withdrawals begin before age 65 and your Income Base increases due to investment gains on a contract anniversary on or after your 65th birthday, the protected income payment will automatically increase to 4.5% of your Income Base.

Upon Lifetime Income Activation, the protected income payment (PIP) will be paid in the event the contract value is completely depleted due to market volatility, deduction of fees and/or withdrawals taken within the feature’s parameters, provided the Income Base is greater than zero. The PIP is calculated as a percentage of the Income Base.

Choose Your Income Option

8

Additional information about Polaris Income Plus Flex

Withdrawals • If a withdrawal taken prior to lifetime income activation reduces the contract value to zero, the contract will be terminated, including any

optional benefits and features, and you will not be able to receive lifetime income withdrawals.• On or after lifetime income activation, annual withdrawals of up to the maximum annual withdrawal amount (MAWA) do not reduce

the Income Base and the Income Credit Base (if applicable). If you take a withdrawal that exceeds the MAWA (known as an “excess withdrawal”), your Income Base and Income Credit Base will be reduced proportionately by the amount in excess of the MAWA. In addition, an income credit will not be available on the next contract anniversary. Excess withdrawals that reduce the Income Base and the Income Credit Base also reduce the MAWA that can be withdrawn under the feature.

• After lifetime income activation, if an excess withdrawal reduces the contract value to zero, the feature will terminate and you will no longer be eligible to receive lifetime income withdrawals.

• The amount available for lifetime income withdrawals may change over time. It may increase on contract anniversaries if the Income Base increases, or decrease if you take a withdrawal prior to lifetime income activation (or take an excess withdrawal after lifetime income activation) that reduces your Income Base. If you select Income Option 1 or 2 and your contract value is completely depleted due to market volatility, deduction of fees and/or withdrawals taken within the feature’s MAWA, you will receive the protected income payment as indicated on page 7. As a result, the amount available for lifetime income will decrease. If you select Income Option 3 and your contract value is completely depleted due to market volatility, deduction of fees and/or withdrawals taken within the feature’s MAWA, the annual amount of lifetime income will not change; annual income paid to you after this point is simply referred to as the protected income payment.

• If you have elected this income protection feature, lifetime income withdrawals up to the MAWA are free of withdrawal charges. Withdrawals that exceed the MAWA may be subject to a withdrawal charge. Please see the enclosed product summary flyer for the withdrawal charge schedule for the variable annuity you may be considering.

• Partial withdrawals reduce other benefits available under the contract, such as the death benefit, as well as the amount available upon surrender. See page 6 for more information about withdrawals taken prior to Lifetime Income Activation.

Retirement Accounts• If you use this contract to fund a retirement account and you plan on taking Required Minimum Distributions (RMDs), please see the

prospectus for more information and consult with a tax advisor concerning your particular circumstances. Keep in mind, an investment in a variable annuity within a retirement account provides no additional tax-deferred benefit beyond that provided by the retirement account.

Latest Annuity Date• Upon reaching the Latest Annuity Date (the first New York Stock Exchange business day of the month following your 95th birthday), there

are certain actions you will need to take. Please see the prospectus for complete details. If the contract value and the Income Base are greater than zero on the Latest Annuity Date (95th birthday), you will need to select one of these annuity options: 1) Annuitize the contract value under the contract’s annuity provisions. 2) Annuitize the contract and receive payments equal to the MAWA at the Latest Annuity Date for a fixed period. The duration of the fixed period will be determined by dividing the contract value at the Latest Annuity Date by the current MAWA. As long as the covered person(s) is living, this amount will continue for the specified period after which time the protected income payment amount will be paid until the death(s) of the covered person(s). 3) Fully surrender your contract. 4) Elect any annuity income option that is mutually agreeable between you and the issuing insurance company. Please see a prospectus for details.

Cancellation• This feature may be cancelled after a specified time period. Please see the enclosed product summary flyer for details. Amounts allocated to

the Secure Value Account (SVA) will be automatically transferred to the 1-year fixed account, if available. If the 1-year fixed account is not available, the amounts will be transferred to SA DFA Ultra Short Bond. (State variations may apply.) Once the cancellation becomes effective, the associated fee will no longer be charged going forward. This feature cannot be re-elected following cancellation.

Other Considerations• When the Income Base is increased, it may have the effect of increasing the dollar amount of the fee. When the Income Base is decreased

due to withdrawals taken prior to lifetime income activation or excess withdrawals taken after lifetime income activation, it may have the effect of reducing the dollar amount of the fee.

• Joint Life option: In the event of a death, spousal continuation of the contract must be elected to provide guaranteed income for the lifetime of the remaining spouse. The Joint Life option will automatically be cancelled if a death benefit is paid and the contract is not continued by the spouse, or if the surviving original spouse dies. The Single Life option will automatically be cancelled if a death benefit is paid or if the covered person dies.

• Please see the prospectus for additional information about what happens in the event of spousal continuation, divorce or other changes affecting the contract owners or beneficiaries.

• If you decide not to take withdrawals under this feature, or you surrender the contract, you will not receive the benefit of the feature. You may pay for the added assurance of this feature and not need to use it. Fees are non-refundable.

• This feature may be automatically terminated under certain circumstances, such as when the contract is annuitized or surrendered. Other circumstances may also apply.

Please see the prospectus for complete details, including limitations and restrictions.

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You may use a Dollar Cost Averaging (DCA) fixed account to systematically invest in the investment choices available with Polaris Income Plus Flex. Your target DCA instructions must follow the investment requirements described. If you elect this feature, participation in quarterly automatic asset rebalancing is also required.

Amounts allocated to the Secure Value Account will not be rebalanced and are not available for transfer as long as the feature is in effect. Keep in mind, because rebalancing resets the allocation among variable portfolios, it may have a positive or negative impact on performance. Immediate rebalancing will occur if you initiate any non-systematic withdrawals or portfolio transfers. The available investment options may reduce the need to rely on an income protection guarantee because they allocate your investment across asset classes and potentially limit exposure to market volatility. If you do not elect an income protection feature, you may invest in any of the investment options offered in Polaris. Please see the Polaris product brochure to learn more.

*Managed by SunAmerica Asset Management, LLC

Additional information• You could lose money by investing in the Goldman Sachs VIT Government Money Market Fund. Although the Fund seeks to preserve the

value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Goldman Sachs VIT Government Money Market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Goldman Sachs VIT Government Money Market Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

• Please see page 13 and the back cover for information about the risks associated with the variable portfolios.

If you elect Polaris Income Plus Flex, there are multiple ways you can invest your money to meet the associated investment requirements. Your initial and additional investments can be allocated as follows:

Investment options

■ Goldman Sachs VIT Government Money Market Fund

■ SA DFA Ultra Short Bond

■ SA Federated Corporate Bond

■ SA Fixed Income Index*

■ SA Fixed Income Intermediate Index*

■ SA Goldman Sachs Global Bond

■ SA JPMorgan MFS Core Bond

■ SA VCP Dynamic Allocation*

■ SA VCP Dynamic Strategy*

■ SA VCP Index Allocation*

■ SA Wellington Government and Quality Bond

■ SA Wellington Real Return

(The allocation to the options below may not exceed 50% per individual portfolio.)

■ SA American Funds VCP Managed Allocation

■ SA BlackRock VCP Global Multi Asset

■ SA Invesco VCP Equity-Income

■ SA PIMCO VCP Tactical Balanced

■ SA Schroders VCP Global Allocation

■ SA T. Rowe Price VCP Balanced

Note: Certain portfolios may not be available in some firms. Please check with your financial professional.

10% Secure Value Account—This is a required allocation to an interest-earning fixed account with a one-year term

90% Build Your Customized Allocation using the portfolios listed below

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Volatility Control Portfolios offer you growth potential plus risk management

Investing in the market can be bumpy. Volatility Control Portfolios can help provide a “smoother” ride. Portfolios that employ a volatility control approach seek to:

• Manage volatility within the portfolio

• Reduce the incidence of extreme outcomes, including the probability of large losses or gains

• Preserve long-term return potential

A volatility control approach may provide more consistent performance with less risk from market downturns. However, the risk management strategies used by these portfolios could limit the upside participation in strong, increasing markets as compared to a portfolio without such a strategy.

Volatility Control Portfolios offer you the benefits of professional money management for long-term growth potential, the opportunity for diversification, and risk management. Polaris provides you access to a wide range of Volatility Control Portfolios from some of the most respected money managers in the industry.

Money managers shown above who do not manage available fixed income portfolios or Volatility Control portfolios may be available through SA VCP Dynamic Allocation and SA VCP Dynamic Strategy offered in Polaris.1SA American Funds VCP Managed Allocation invest in the American Funds Insurance Series,® which has the same investment manager (Capital

Research and Management Company) as American Funds. 2SunAmerica Asset Management, LLC (SAAMCo) is affiliated with American General Life Insurance Company and The United States Life

Insurance Company in the City of New York.

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SA VCP Dynamic Allocation—an actively managed fund-of-fund that draws on the expertise of many leading Polaris money managers and offers broad diversification opportunities. The fund-of-fund’s equity component will generally be divided among growth and value portfolios.

SA VCP Dynamic Strategy—an actively managed fund-of-fund that draws on the expertise of many leading Polaris money managers and offers broad diversification opportunities. The fund-of-fund’s equity component will generally invest a greater portion of its assets in value portfolios than growth portfolios.

SA VCP Index Allocation—a diversified fund-of-funds portfolio designed for those who want passive investment options, with a volatility control overlay managed by T. Rowe Price.

SA American Funds VCP Managed Allocation—a balanced portfolio that provides access to American Funds and diversification among equities (stocks), fixed income (bonds) and money market instruments through the underlying fund in which the Portfolio invests, while managing volatility.

Volatility Control Portfolios

Volatility is a statistical measure of the frequency and level of changes in the Portfolio’s returns over time without regard to the direction of those changes. Volatility is not a measure of investment performance. It is possible for a Portfolio to maintain its volatility at or under its target volatility level while having negative performance returns. There is no assurance that a Portfolio’s investment goal will be met or that investment decisions made in seeking to manage a Portfolio’s volatility will achieve the desired results.

While diversification and asset allocation are both proven investment strategies, they cannot guarantee greater or more consistent returns over time and they cannot protect against loss.

Capital Research and Management Company is the investment manager of the American Funds. SunAmerica Asset Management, LLC serves as investment adviser to the “Feeder Fund”; Capital Research and Management Company serves as investment adviser to the “Master Fund.”

SA American Funds VCP Managed Allocation (“Feeder Fund”) does not invest directly in individual securities; instead it invests in shares of the American Funds Managed Risk Growth-Income Fund (the “Master Fund”). In turn, the Master Fund invests in shares of two underlying funds, the American Funds Growth-Income Fund and the American Funds Bond fund (the “Underlying Funds”), hedge instruments (primarily exchange-traded futures and exchange-traded put options) and cash or cash equivalents. Investing in a Feeder Fund will result in higher fees and expenses than investing in a portfolio that invests directly in securities. Please see the prospectus for more information regarding the master-feeder fund structure.

Please see page 13 and the back cover for important risks and additional information.

Investment options

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Volatility Control Portfolios

SA BlackRock VCP Global Multi Asset—a global tactical asset allocation strategy that actively controls volatility to seek a more consistent investment experience.

SA Invesco VCP Equity-Income—a balanced portfolio that capitalizes on the value style investing expertise of Invesco Advisers, Inc., while managing volatility.

SA PIMCO VCP Tactical Balanced—a balanced portfolio that leverages the fixed income and equity investment expertise of Pacific Investment Management Company LLC (PIMCO), with volatility management.

SA Schroders VCP Global Allocation—a global asset allocation portfolio that actively invests across markets and asset classes with the aim to provide growth potential and control volatility.

SA T. Rowe Price VCP Balanced—a broadly diversified balanced portfolio, combining the value added from T. Rowe Price’s expertise in portfolio design, asset allocation and active management, with an integrated approach for stabilizing the portfolio’s volatility.

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PolarisINCOME PLUS FLEXImportant risks and additional information about Volatility Control Portfolios

Volatility Control Portfolios• While Volatility Control Portfolios employ risk management processes that seek to manage volatility within the Portfolio, volatility may result


• Each Portfolio is subject to derivative and leverage risks. These investment strategies may be riskier than other investment strategies and may result in gains or losses substantially greater than the cost of the position. While these strategies can be useful and inexpensive ways of reducing risk, they are sometimes ineffective due to unexpected changes in the market, exchange rates or other factors. When a Portfolio uses derivatives for leverage, the Portfolio will tend to be more volatile, resulting in larger gains or losses in response to the fluctuating prices of the Portfolio’s investments.

• Each Portfolio is subject to other risks including short sales risk and counterparty risk. Losses from short sales are potentially unlimited, whereas losses from purchases can be no greater than the total amount invested. Counterparty risk is the risk that a counterparty will not perform its obligations. Small movements in interest rates (both increases and decreases) may quickly and significantly reduce the value of certain mortgage-backed securities. These securities are also subject to risk of default, particularly during periods of economic downturn. Credit risk (i.e., the risk that an issuer might not pay interest when due or repay principal at maturity of the obligation) could affect the value of the investments in the Portfolio.

• Each Portfolio is subject to risk of conflict with insurance company interests given certain aspects of portfolio management are intended to mitigate the financial risks the insurer faces in connection with optional income protection guarantees.

• Certain Portfolios and their underlying portfolios (if applicable) may engage in frequent trading of portfolio securities to achieve their investment goals. Active trading may result in high portfolio turnover and correspondingly greater transaction costs.

• Equity exposure in Volatility Control Portfolios can vary. Please refer to the trust prospectus for more information. • Investments are subject to certain risks including stock market and interest rate fluctuations, as well as additional risks associated with

investments in certain asset classes. Please see back cover.

SA VCP Dynamic Allocation, SA VCP Dynamic Strategy and SA VCP Index Allocation • The portfolio operating expenses for a fund-of-funds are typically higher than those of a traditional portfolio because you pay the expenses of

that portfolio and indirectly pay a proportionate share of the expenses of the underlying fund.

SA American Funds VCP Managed Allocation• Hedge assets include cash and liquid transparent financial futures contracts and options that are tailored to the underlying holdings in the

American Funds Growth-Income Fund. Futures contracts on major equity, U.S. Treasury bonds, and currencies are typically used. Futures contracts are used only to reduce risk relative to a long-equity portfolio. In situations of extreme market volatility, the exchange-traded futures could potentially reduce the Master Fund’s net economic exposure to equity securities to 0%.

• The Portfolio is subject to the risk that the strategy that will be used to stabilize the volatility of the Master Fund and reduce its downside exposure may not produce the desired result. In addition, the use of the risk-management overlay may cause the Master Fund’s return to lag that of the underlying fund in certain rising market conditions.

SA BlackRock VCP Global Multi Asset • The Portfolio’s volatility management strategy may adjust the composition of the Portfolio’s riskier assets, such as equity and below investment

grade fixed income securities, and/or may allocate assets away from riskier assets into cash or short-term fixed income securities.• In selecting equity and fixed income investments, judgments that evaluate the attractiveness of countries and sectors may prove incorrect.• The value of the Portfolio’s foreign investments may fluctuate due to changes in currency exchange rates.

SA Invesco VCP Equity-Income• Target volatility level is not a total return performance target. Total return performance is not expected to be within any specified target range. • The ability to achieve current income may be adversely affected if dividends on the Portfolio’s equity securities are reduced or discontinued or

if prevailing interest rates on the Portfolio’s debt securities decline.• Although the Portfolio seeks investments in undervalued companies, judgments that a particular security is undervalued may prove incorrect.

SA PIMCO VCP Tactical Balanced• The Portfolio may invest a significant portion of its assets in derivatives. As a result, performance could be primarily dependent on securities

the Portfolio does not own. • The Portfolio will generally achieve equity exposure by investing in derivatives rather than through direct investments in equity securities. The

Portfolio may also invest directly in equity securities and ETFs to achieve its goal.

SA Schroders VCP Global Allocation • The Portfolio may make substantial use of derivatives. As a result, performance could be primarily dependent on securities the Portfolio

does not own.• In selecting equity and fixed income investments, judgments that evaluate the attractiveness of countries and sectors may prove incorrect.• The value of the Portfolio’s foreign investments may fluctuate due to changes in currency exchange rates.

SA T. Rowe Price VCP Balanced • The Portfolio’s approach for stabilizing volatility may not produce the desired results.• The value of the Portfolio’s foreign investments may fluctuate due to changes in currency exchange rates.

Please see back cover for additional risks associated with the variable portfolios.

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Additional information about Funds-of-Funds• Investment is subject to market risk including loss of principal. The Portfolio’s risks will directly correspond to the risks of the underlying portfolios in

which it invests including, but not limited to: risks associated with investment in large-cap companies which tend to be less volatile than companies with smaller market capitalizations but whose value may not rise as much as the value of portfolios that emphasize smaller companies; risks of investing in small- and medium-sized companies which are usually more volatile and entail greater risks than securities of large companies; additional or heightened risk associated with investments in foreign markets; interest rate risk; and credit risk. The Portfolio is also subject to the risk that the selection of the underlying portfolios and the allocation and reallocation of the Portfolio’s assets among the various asset classes and market sectors may not produce the desired result. Refer to the Portfolio’s prospectus for more information.

Additional risks associated with the variable portfolios and other information• There is no assurance that a Portfolio’s strategy or investment process will achieve its specific investment objectives. • Portfolios that invest in stocks and bonds are subject to risk, including stock market and interest rate fluctuations. Portfolios that invest in bonds are

subject to changes in their value when prevailing interest rates change. Portfolios that invest in non-U.S. stocks and bonds, including emerging market investments, are subject to additional risks such as political and social instability, differing securities regulations and accounting standards, limited public information, plus special risks that may include foreign taxation, currency risks, risks associated with possible differences in financial standards, and other monetary and political risks associated with future political and economic developments.






• Money managers, with the exception of SunAmerica Asset Management, LLC, are not affiliated with American General Life, US Life or American International Group, Inc. (AIG).

This material was prepared to support the marketing of Polaris Variable Annuities. American General Life Insurance Company and The United States Life Insurance Company in the City of New York, and their distributors and representatives, cannot provide tax, accounting, or legal advice. Any tax statements in this material are not intended to suggest the avoidance of U.S. federal, state or local tax penalties. Such discussions generally are based upon the company’s understanding of current tax rules and interpretations. Tax laws are subject to legislative modification, and while many such modifications will have only a prospective application, it is important to recognize that a change could have retroactive effect as well. Please seek the advice of an independent tax advisor or attorney for more complete information concerning your particular circumstances and tax statements made in this material.

Annuities are designed for long-term retirement investing. An investment in a Polaris Variable Annuity involves investment risk, including possible loss of principal. The contract, when redeemed, may be worth more or less than the total amount invested. The purchase of Polaris is not required for, and is not a term of, the provision of any banking service or activity. Products and features may vary by state and may not be available in all states. We reserve the right to modify or no longer offer the features described in this brochure. However, once your contract is issued, these features will not change, except as described here and in the prospectus.




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