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The Variable Annuity Life Insurance Company Customer FAQ

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Variable Annuity Basics

What is a variable annuity?

A variable annuity is an investment product primarily for retirement, acting as an insurance contract that provides income....

What are the benefits of purchasing a variable annuity?

Purchasing a variable annuity offers tax-deferred growth on investment gains, a variety of investment choices, and beneficial...

What is the difference between fixed annuities and variable annuities?

Fixed annuities offer guaranteed returns and protect the principal, appealing to conservative investors. Variable annuities...

What is the age requirement to purchase a variable annuity?

Typically, individuals must be at least eighteen years old to purchase a variable annuity, as this age marks the legal capacity...

Investment Options

What investment options are available with your variable annuities?

VALIC provides a range of investment options with its variable annuities, including equity, fixed income, and balanced funds....

What is the process for making changes to my investment options in a variable annuity?

To change investment options in a variable annuity with The Variable Annuity Life Insurance Company, individuals should review...

Fees and Charges

What are the fees and charges associated with variable annuities?

Variable annuities can entail various fees that could impact investment results, such as mortality and expense risk charges,...

What is the surrender charge for early withdrawal from a variable annuity?

Surrender charges for early withdrawal from a variable annuity depend on various factors, including the product type and...

Contributions and Withdrawals

Can I make additional contributions to my variable annuity?

The Variable Annuity Life Insurance Company does permit extra contributions to variable annuities, but terms vary by contract....

Can I withdraw money from my variable annuity?

Withdrawals from a variable annuity are permitted, but there are key factors to consider, such as potential penalties for early...

Are there any tax implications for withdrawals from my variable annuity?

Withdrawals from variable annuities can lead to considerable tax consequences, with earnings typically taxed as ordinary...

Death and Benefits

What happens to my variable annuity upon my death?

Upon the death of a variable annuity owner, the contract typically provides a death benefit to specified beneficiaries, which...

Are my investments in a variable annuity guaranteed to earn a return?

Investments in a variable annuity are not guaranteed to earn returns, as their value fluctuates based on market conditions and...

Transfer and Conversion

Can I transfer my variable annuity to another company?

Transferring a variable annuity to another company is possible but requires careful consideration. Factors like surrender...

Can I convert my variable annuity to a different type of annuity?

Variable annuities can often be converted into fixed or fixed indexed annuities through a process called a "1035 exchange,"...
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