0001051485-21-000048.txt : 20211222
0001051485-21-000048.hdr.sgml : 20211222
20211222091955
ACCESSION NUMBER: 0001051485-21-000048
CONFORMED SUBMISSION TYPE: 497
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20211222
DATE AS OF CHANGE: 20211222
EFFECTIVENESS DATE: 20211222
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: AGL SEPARATE ACCOUNT VL-R
CENTRAL INDEX KEY: 0001051485
IRS NUMBER: 250598210
STATE OF INCORPORATION: TX
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 497
SEC ACT: 1933 Act
SEC FILE NUMBER: 333-42567
FILM NUMBER: 211511211
BUSINESS ADDRESS:
STREET 1: 2727-A ALLEN PARKWAY
CITY: HOUSTON
STATE: TX
ZIP: 77019
BUSINESS PHONE: 713-522-1111
MAIL ADDRESS:
STREET 1: 2727-A ALLEN PARKWAY
CITY: HOUSTON
STATE: TX
ZIP: 77019
FORMER COMPANY:
FORMER CONFORMED NAME: AGL SEPARATE ACCOUNT VL R
DATE OF NAME CHANGE: 19990907
FORMER COMPANY:
FORMER CONFORMED NAME: AMERICAN GENERAL LIFE INSURANCE CO SEPARATE ACCOUNT VL R
DATE OF NAME CHANGE: 19971216
0001051485
S000000574
AGL SEPARATE ACCOUNT VL-R
C000008722
AGL Platinum Investor I VUL (333-42567 Form S-6) Policy No. 97600
497
1
Supp122221.txt
497E PROSPECTUS SUPPLEMENT
AMERICAN GENERAL LIFE INSURANCE COMPANY
VARIABLE UNIVERSAL LIFE INSURANCE POLICIES
SEPARATE ACCOUNT VL-R
AG CORPORATE INVESTOR
AG INCOME ADVANTAGE VUL
AG LEGACY PLUS
CORPORATE AMERICA
CORPORATE INVESTOR SELECT
INCOME ADVANTAGE SELECT
PLATINUM INVESTOR I
PLATINUM INVESTOR II
PLATINUM INVESTOR III
PLATINUM INVESTOR IV
PLATINUM INVESTOR FLEXDIRECTOR
PLATINUM INVESTOR PLUS
PLATINUM INVESTOR SURVIVOR
PLATINUM INVESTOR SURVIVOR II
PLATINUM INVESTOR VIP
PLATINUM INVESTOR VIP (2007)
PROTECTION ADVANTAGE SELECT
AMERICAN GENERAL LIFE INSURANCE COMPANY
VARIABLE ANNUITY CONTRACTS
SEPARATE ACCOUNT D
ELITEPLUS BONUS
GENERATIONS
PLATINUM INVESTOR VA
SELECT RESERVE
VARIETY PLUS
ONE-MULTI-MANAGER
THE UNITED STATES LIFE INSURANCE COMPANY
IN THE CITY OF NEW YORK
VARIABLE UNIVERSAL LIFE INSURANCE POLICIES
SEPARATE ACCOUNT USL VL-R
INCOME ADVANTAGE SELECT
PLATINUM INVESTOR
PLATINUM INVESTOR PLUS
PLATINUM INVESTOR VIP
PROTECTION ADVANTAGE SELECT
THE UNITED STATES LIFE INSURANCE COMPANY
IN THE CITY OF NEW YORK
VARIABLE ANNUITY CONTRACTS
SEPARATE ACCOUNT USL A
GENERATIONS
SUPPLEMENT TO CONTRACT AND POLICY PROSPECTUSES
DATED DECEMBER 22, 2021
American General Life Insurance Company and The United States Life Insurance
Company in the City of New York (collectively, the "Companies") have filed an
application with the Securities and Exchange Commission ("SEC") on December
21, 2021 requesting an order to allow the Companies' Separate Accounts
(referenced above) to remove a variable investment option ("Current
Portfolio") and substitute a new option ("Replacement Portfolio") as shown
below (hereinafter referred to as the "Substitution"). The Current Portfolio
is a series of VALIC Company I and the Replacement Portfolio is a series of
Variable Insurance Products Fund V of Fidelity.
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To the extent required by law, approval of matters associated with the
proposed Substitution is being obtained from the state insurance regulators
in certain jurisdictions.
The Companies believe that the proposed Substitution is the appropriate
approach to accomplish the elimination of the offering of the Current
Portfolio and the new offering of the Replacement Portfolio to the contract
and policy owners. The Board of Directors of the Companies approved the
proposed Substitution on December 13, 2021. The Current Portfolio and
Replacement Portfolio have substantially similar investment objectives,
principal investment strategies and principal risks. The Companies will bear
all expenses related to the Substitution, and it will have no tax
consequences for you. The Companies anticipate that, if such order is
granted, the proposed Substitution will occur on or about April 29, 2021 (the
"Substitution Date").
The Current Portfolio and Replacement Portfolio along with their investment
advisers and sub-advisers, if applicable, in the Substitution are listed
below for the above referenced contracts and policies:
--------------------------------------------------- ---------------------------------------------------
Current Portfolio Replacement Portfolio
Current Investment Adviser Investment Adviser
(sub-adviser, if applicable) (sub-adviser, if applicable)
--------------------------------------------------- ---------------------------------------------------
VALIC Company I Government Money Market I Fund Fidelity VIP Government Money Market Portfolio
- Initial Class
The Variable Annuity Life Insurance Company Fidelity Management & Research Company LLC
(SunAmerica Asset Management, LLC) (FMR Investment Management (UK) Limited
Fidelity Management & Research (Hong Kong) Limited
Fidelity Management & Research (Japan) Limited)
--------------------------------------------------- ---------------------------------------------------
The following lists important information regarding the proposed
Substitution:
.. The Substitution will only affect you if you are invested in a subaccount
that corresponds to the Current Portfolio on the Substitution Date.
.. The Replacement Portfolio is not available through the contracts and
policies at this time. The Replacement Portfolio will be added as an
investment option on or about April 1, 2022.
.. No action is required on your part at this time. You will not need to file
a new election or take any immediate action if the SEC approves the
Substitution.
.. If the elections you have on file for allocating your contract account
value, purchase payments and deductions, or your policy accumulation value,
premium payments and deductions include an allocation to or from the
subaccount that corresponds to the Current Portfolio, that allocation will be
redirected to or from the Replacement Portfolio beginning on the Substitution
Date unless you change your elections before the Substitution takes place.
This includes any allocation instructions associated with a dollar cost
averaging or automatic portfolio rebalancing program offered under your
contract or policy.
.. You may transfer amounts in your contract among the variable investment
options and the fixed account as usual. The Substitution itself will not be
treated as a transfer for purposes of the transfer provisions of your
contract or policy. With the exception of the Companies' restrictions on
transfers to prevent or limit market timing or short-term trading by contract
or policy owners or financial representatives of contract or policy owners,
there will be no restrictions on transfers between subaccounts, including
limitations on the future number of transfers, from April 1, 2022 through the
date that is thirty (30) days after the Substitution Date.
.. If you make one transfer from the Current Portfolio into one or more other
subaccounts before the Substitution Date, or from the Replacement Portfolio
into one or more other subaccounts after the Substitution Date, any transfer
charge that might otherwise be imposed will be waived from April 1, 2022
through the date that is thirty (30) days after the Substitution Date. In
addition, if you make one transfer from the Current Portfolio into one or
more other subaccounts before the Substitution Date or from the Replacement
Portfolio into one or more other subaccounts within thirty (30) days after
the Substitution Date, the transfer will not be treated as one of a limited
number of transfers (or exchanges) permitted under your contract without
charge.
2
.. Unless you provide us with alternative allocation instructions, on the
Substitution Date, any remaining contract account value or policy
accumulation value in the Current Portfolio will be transferred to the
Replacement Portfolio without any charge that would otherwise apply
(including sales charges or surrender charges). The Substitution will take
place at relative net asset value, which means your contract account value or
policy accumulation value in the variable investment option will be the same
as immediately before the Substitution. However, the number of units you
receive in the Replacement Portfolio will be different from the number of
units in the Existing Portfolio, due to the difference in unit values.
.. If you have elected an optional benefit rider that includes investment
restrictions, please note that the Replacement Portfolio is a permissible
investment option under the rider's restrictions.
.. After the Substitution Date, the Current Portfolio will no longer be
available through the contracts and policies and there will be no further
disclosure regarding the Portfolio in any future contract or policy
prospectus.
.. There will be no tax consequences to you as a result of the Substitution.
.. The overall fees and expenses of the Replacement Portfolio are less than
those of the Current Portfolio. The Replacement Portfolio's fees and
expenses, investment objective and information about its investment adviser
are more fully described in the Replacement Portfolio's prospectus.
In connection with the Substitution, we will send you a prospectus for the
Replacement Portfolio as well as notice of the actual date the Substitution
will occur and a confirmation of the transfer after the Substitution has been
effected.
Please contact your financial representative if you have any questions. For
the Variable Universal Life Insurance Policies, additional information
regarding the Variable Investment Options, including the fund prospectuses
for Variable Investment Options currently available under your policy, may be
obtained by visiting our website at www.aig.com/AGVUL or by calling 1-800-
340-2765. For Variable Annuity Contracts, additional information regarding
the Variable Investment Options, including the fund prospectuses for Variable
Investment Options currently available under your contract, may be obtained
by calling 1-800-247-6584.
Please keep this Supplement with your Prospectus
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