NEW YORK–(BUSINESS WIRE)–AIG Life & Retirement, a leading provider of annuities, today announced the launch of the X5 Accelerator Annuity^SM in partnership with Annexus, an innovator in delivering retirement solutions to the marketplace. X5 Accelerator is issued by American General Life Insurance Company, a member company of American International Group, Inc. (NYSE: AIG), and marketed through a network of Annexus-contracted independent distribution companies.

The newest addition to the X5 suite of index annuities, X5 Accelerator is a powerful accumulation and income solution with an innovative design that emphasizes income growth from the outset to help consumers generate more income for retirement. The product’s front-end acceleration features include a bonus equal to 35% of the premium that is immediately added to the lifetime income benefit, as well as a multiplier that can increase lifetime income by 250% of net interest earned every year during the accumulation phase.

“X5 Accelerator offers consumers a valuable head start on their retirement planning with an immediate bonus and a strong multiplier,” said Bryan Pinsky, President, Individual Retirement, AIG Life & Retirement. “We are excited to continue our work with Annexus to provide their network of financial professionals with more options and flexibility for increased retirement income and security.”

X5 Accelerator offers exclusive indices developed by premier asset managers PIMCO and Morgan Stanley Investment Management to provide upside growth potential. X5 Accelerator also provides principal protection against market downturns so principal cannot be lost.

“A real concern for many retirees is how to keep pace with rising costs and how to reduce the risk of running out of money in retirement,” said Don Dady, Annexus Co-founder. “With the addition of X5 Accelerator, the X5 Suite offers financial professionals and their clients more choice and flexibility in creating a personalized retirement plan that can help them overcome these risks.”

Additionally, X5 Accelerator includes the potential for an enhanced beneficiary benefit, that may provide a greater inheritance, plus a unique benefit that doubles the annual income should the policy holder become confined to a nursing home or other qualified facility.¹ These features, along with the guaranteed lifetime income benefit, are subject to an annual fee.

Guarantees are backed by the financial strength and claims-paying ability of American General Life Insurance Company (AGL). AGL does not solicit, issue or deliver policies or contracts in the state of New York.

This material is general in nature, was developed for educational use only, and is not intended to provide financial, legal, fiduciary, accounting or tax advice, nor is it intended to make any recommendations. Applicable laws and regulations are complex and subject to change. Please consult with your financial professional regarding your situation. For legal, accounting or tax advice consult the appropriate professional.

Index annuities are not a direct investment in the stock market. They are long-term insurance products with guarantees backed by the claims-paying ability of the issuing insurance company. They provide the potential for interest to be credited based in part on the performance of the specified index, without the risk of loss of premium due to market downturns or fluctuations. Contract value can be reduced for withdrawals and, if applicable, withdrawal charges. Index annuities may not be appropriate for all individuals.

There is no guarantee that the growth potential of an index annuity will keep pace with inflation or rising costs in retirement. In addition, no interest will be credited in flat or down markets.

Withdrawals may be subject to federal and/or state income taxes. An additional 10% federal tax may apply if individuals make withdrawals or surrender their annuity before age 59½. Individuals should consult their tax advisor regarding their specific situation. Withdrawals may also be subject to a withdrawal charge that begins at 10% in year 1 and declines to 0% in year 11. State variations apply. See the Owner Acknowledgment and Disclosure Statement for more information.

The Morgan Stanley Expanded Horizons Index℠ is a service mark of Morgan Stanley Investment Management Inc. or its affiliates (collectively “MSIM”) and has been licensed for use for certain purposes by American General Life Insurance Company (“licensee”). The intellectual and other property rights to the methodology and formula of the Index are owned by or licensed to MSIM. This annuity (the “product”) is not sponsored, endorsed, sold or promoted by MSIM or any of its third party suppliers including data licensors (“MSIM and its suppliers”). MSIM and its suppliers make no representations or warranties regarding the advisability of adopting a strategy, obtaining investment exposure to the Index through any means, investing in financial products generally or purchasing the product particularly or the ability of the Index to track general market performance. MSIM is not acting as investment adviser to you in connection with, or through, the Index or the product, and MSIM undertakes no, and expressly disclaims any, fiduciary duties to you in connection with the Index or the product. Past performance of an index is not an indicator of or a guarantee of future results. Use and distribution of the Index, index data and MSIM’s service marks are prohibited without MSIM’s express written permission.

MSIM and its suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including with respect to the index, index data and any information included in, related to, or derived therefrom (“index data”). MSIM and its suppliers shall not be subject to any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) with respect to the product or the adequacy, accuracy, timeliness or completeness of the index and the index data, all of which have been provided and are provided on an “as is” basis. Any decision to purchase and or invest in the product is at your own risk.

The PIMCO Global Elite Markets Index^® (the “Index”) is an excess return index that allocates to a diversified range of global equity and global government bond markets. It employs a rules-based rebalancing process that is designed to enhance returns and manage volatility. The Index is a trademark of Pacific Investment Management Company LLC (“PIMCO”) and has been licensed for use for certain purposes by American General Life Insurance Company (“the Company”) with respect to this annuity (“the Product”). The Index is the exclusive property of PIMCO and is made and compiled without regard to the needs, including, but not limited to, the suitability, appropriateness or needs, as applicable, of the Company, the Product, or owners of the Product. The Product is not sold, sponsored, endorsed or promoted by PIMCO or any other party involved in, or related to, making or compiling the Index. PIMCO does not provide investment advice to the Company with respect to the Product or to owners of the Product. It is not possible to directly invest in the Index.

Neither PIMCO nor any other party involved in, or related to, making or compiling the Index has any obligation to continue to provide the Index to the Company with respect to the Product. Neither PIMCO nor any other party involved in, or related to, making or compiling the Index makes any representation regarding the Index, Index information, performance, annuities generally or the Product particularly.

PIMCO disclaims all warranties, express or implied, including all warranties of merchantability or fitness for a particular purpose or use. PIMCO shall have no responsibility or liability whatsoever with respect to the Product.

The Index is comprised of a number of constituents, some of which are owned by entities other than PIMCO. The Index relies on a variety of publicly available data and information and licensable equity and fixed income sub-indices. The Index will be calculated independently from PIMCO. All disclaimers referenced in herein relative to PIMCO also apply separately to those entities that are owners of the constituents of the Index and the Index calculation agent.

Index annuities are issued by American General Life Insurance Company (AGL), 2727-A Allen Parkway, Houston, Texas 77019. Contract Number: AG-808 (7/19). AGL is a member of the American International Group, Inc. (AIG) family of financial services companies. The underwriting risks, financial and contractual obligations and support functions associated with the annuities issued by AGL are its responsibility. AGL does not solicit, issue or deliver policies or contracts in the state of New York. Annuities and riders may vary by state and are not available in all states. This material is not intended for use in the state of Idaho. AIG and its member companies are not affiliated with Annexus, PIMCO and Morgan Stanley.

About Annexus

Annexus designs solutions to help Americans grow and protect their retirement savings. For over a decade, Annexus has developed market-leading fixed indexed annuities and indexed universal life insurance products. In close collaboration with design partner Genesis Financial, Annexus has forged relationships with many of the industry’s leading insurance carriers and the world’s largest investment banks. Find out more about Annexus and its products at www.annexus.com.

About AIG Life & Retirement

AIG Life & Retirement brings together a broad portfolio of protection, retirement savings, investment and lifetime income solutions to help people achieve financial and retirement security. The business consists of four operating segments – Individual Retirement, AIG Retirement Services, Life Insurance and Institutional Markets – and holds longstanding, leading market positions in many of the markets it serves.

AIG Life & Retirement includes AIG member insurance companies American General Life Insurance Company (Houston, TX), The United States Life Insurance Company in the City of New York, and The Variable Annuity Life Insurance Company (VALIC), Houston, TX as well as their affiliates. Securities products are distributed by AIG Capital Services, Inc., member FINRA. Additional information about AIG Life & Retirement can be found at lifeandretirement.aig.com.

About AIG

American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in approximately 70 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.

Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.

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¹ This benefit is not long-term care insurance and is not a substitute for such coverage.