Annuities are long-term retirement saving vehicles.
Retirement accounts such as IRAs can be tax deferred regardless of whether or not they are funded with an annuity. The purchase of an annuity within an IRA does not provide additional tax-deferred treatment of earnings. However, annuities do provide other features and benefits.
Withdrawals may be subject to federal and/or state income taxes. Federal restrictions and a 10% federal early withdrawal tax penalty may apply if taken before age 59 1/2. Early withdrawals may be subject to withdrawal charges. Partial withdrawals may reduce benefits and contract value.
This information is general in nature, may be subject to change and does not constitute legal, tax or accounting advice from any company, its employees, financial professionals or other representatives. Applicable laws and regulations are complex and subject to change. For advice concerning your situation, consult your attorney, tax advisor or accountant.
Annuities issued by American General Life Insurance Company (AGL), Houston, TX except in New York, where issued by The United States Life Insurance Company in the City of New York (US Life). Issuing companies AGL and US Life are responsible for financial obligations of insurance products and are members of American International Group, Inc. (AIG).
Guarantees are backed by the claims-paying ability of the issuing insurance company.
May not be available in all states and product features may vary by state. Please refer to the contract.
FOR FINANCIAL PROFESSIONAL AND AGENT USE ONLY. NOT FOR PUBLIC DISTRIBUTION.