Form 497VPU VARIABLE ANNUITY ACCOUNT
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issued by
AMERICAN GENERAL LIFE INSURANCE
COMPANY
in all states except in New York
In connection with
VARIABLE ANNUITY ACCOUNT FIVE
UPDATING SUMMARY PROSPECTUS FOR EXISTING
INVESTORS
May 1, 2026
May 1, 2026
This updating summary prospectus provides updated information about
Seasons Select II, a flexible premium deferred variable annuity.
The prospectus for the contract contains more information
about the contract, such as the contract’s features, benefits, and risks. You can find the current prospectus and other information about the
contract online at www.corebridgefinancial.com/ProductProspectuses. You can also obtain this information at no cost by calling (855) 421-2692 or by writing to our Annuity Service Center (P.O. Box 15570, Amarillo, Texas 79105-5570).
* * * * * * * * * * * *
Additional information about certain investment products,
including variable annuities, has been prepared by the SEC’s staff and is available at www.Investor.gov.
Special Terms Used in this Summary Prospectus
Accumulation Phase - The period during which you invest money in your contract.
Fixed Account - An account, if available, in which you may invest money and earn a fixed rate of return. Fixed Accounts are obligations of the General
Account.
Income Benefit Base - A value used to determine the minimum income amount if Income Protector was elected.
Living Benefit
- An optional benefit designed to help create a guaranteed income stream for life and provide some protection against certain financial risks. (Living Benefits may only be elected at the time you purchase the
contract).
MAV Benefit Base - For certain Living Benefits, a value used to determine the fee and the maximum amount that maybe
withdrawn each year.
Purchase
Payments - The money you give us to buy and invest in the contract.
Separate Account – A segregated asset account maintained by the Company separately from the Company’s General Account. The Separate Account consists of
Variable Portfolios or subaccounts, each investing in shares of the Underlying Funds.
Underlying Funds - The underlying investment portfolios of the Trusts in which a Variable Portfolio invests.
Variable Portfolio(s) - A variable investment option available under the contract. Each Variable Portfolio, which is a subaccount of the Separate Account, invests
in shares or one of the Underlying Funds. Each Underlying fund has its own investment
objective.
Updated Information About Your Contract
The following is a summary of certain contract features that have changed
since the Updating Summary Prospectus dated April 28, 2025. This may not reflect all of
the changes that have occurred since you purchased your contract. Please see the prospectus available on www.corebridgefinancial.com/ProductProspectuses for more information.
Optional Living Benefits – MarketLock and MarketLock
for Two Second Extension
•
If you purchased your contract between August 31, 2005 and May 1, 2009 with MarketLock optional Living Benefit and you elected to extend the MAV Evaluation Period on the tenth contract
anniversary, you will have the opportunity to elect the second extension of the MAV Evaluation Period (second “Extension”) on or about your twentieth contract anniversary. The annualized fee for the second Extension is 0.95%. Please see MARKETLOCK AND MARKET LOCK FOR TWO SECOND EXTENSION in the prospectus.
•
If you purchased your contract between July 10, 2006 and April 30 2008 with MarketLock for Two optional Living Benefit and you elected to extend the MAV Evaluation Period on the tenth contract anniversary, you will have the opportunity to elect the second extension of the MAV Evaluation Period (second “Extension”) on or about your twentieth contract anniversary. The annualized fee for the second Extension is 0.70% (prior to the first withdrawal) and 1.10% (after the first withdrawal). Please see MARKETLOCK AND MARKETLOCK FOR
TWO SECOND EXTENSION in the prospectus.
Underlying Fund Change effective on May 1, 2026
•
SA Multi-Managed Large Cap Value Portfolio F02D Federated MDTA LLC became a
subadvisor replacing American Century Investment Management, Inc.
2
Important Information You Should Consider About the Contract
| |
FEES AND EXPENSES |
Location in
Prospectus | ||
| Are There
Charges or
Adjustments for
Early
Withdrawals? |
Yes.
•For Contracts without Seasons Rewards. If you
withdraw money from your contract within 7 years
following each Purchase Payment, you may be assessed a withdrawal charge of up to 7%, as a percentage of each Purchase Payment withdrawn.
•For Contracts with Seasons Rewards. If you
withdraw money from your contract within 9 years
following your purchase of the contract or your last Purchase Payment, you may be assessed a withdrawal charge of up to 9%, as a percentage of each Purchase Payment
withdrawn.
For example, if you were to withdraw $100,000 during a withdrawal
charge period, you could be assessed a withdrawal charge
of up to $7,000 if your maximum withdrawal charge is 7%
or $9,000 if your maximum withdrawal charge is 9%. This loss will be greater if there are federal and state income taxes or tax-penalties.
Withdrawal Charges do not apply to certain withdrawals including the
withdrawal up to the annual penalty-free withdrawal
amount which equals 10% of your Purchase Payments not
yet withdrawn. |
Expenses –
Withdrawal
Charges | ||
| Are There
Transaction
Charges? |
Yes, in addition to withdrawal charges, you may be charged for other transactions. You will
be charged for each transfer after 15 transfers in any contract year
during the Accumulation Phase. There may also be taxes on Purchase Payments.
|
Expenses | ||
| Are There
Ongoing Fees and
Expenses? |
Yes.
The table below describes the current fees and expenses of the
contract that you may pay each
year, depending on the investment options and optional benefits you choose. Please
refer to your contract data page for information about the specific
fees you will pay each year based on the options you
have elected. |
Expenses | ||
| Annual Fee |
Minimum |
Maximum | ||
| Base Contract1 |
1.42% |
1.42% | ||
| Investment Options2
(Underlying Fund fees and expenses) |
0.46% |
1.76% | ||
| Optional Benefits Available for an
Additional Charge
(For a single optional benefit, if elected) |
0.10%3 |
0.80%4 | ||
| 1 As a percentage of the value in the Separate Account (includes a percentage attributable to the contract maintenance fee). 2 As a percentage of Underlying Fund
net assets. 3 As a percentage of the Income Benefit Base used to calculate the guaranteed benefit. 4 As a percentage of the MAV Benefit Base used to calculate the guaranteed benefit. This
represents the maximum charge for the most expensive
optional benefit. Because your contract is customizable,
the choices you make affect how much you will pay. To
help you understand the cost of owning your contract, the following table shows the lowest and highest cost you could pay each year, based on current charges. This estimate
assumes that you do not take withdrawals from the contract, which
could add withdrawal charges that substantially increase
costs. | ||||
| Lowest Annual Cost: $1,660 |
Highest Annual Cost: $3,416 | |||
| Assumes:
•Investment of $100,000 •5% annual appreciation
•Least expensive Underlying Fund fees and expenses •No optional benefits
•No withdrawal charges •No additional Purchase Payments,
transfers, or withdrawals |
Assumes:
•Investment of $100,000 •5% annual appreciation
•Most expensive combination of optional benefits and Underlying Fund fees and expenses •No withdrawal charges
•No additional Purchase Payments, transfers, or withdrawals | |||
3
| |
RISKS |
Location in
Prospectus | ||
| Is There a Risk of
Loss from Poor
Performance? |
Yes. You can lose money by investing in this contract, including possible loss of your
principal investment. |
Principal Risks of
Investing in the
Contract | ||
| Is this a
Short-Term
Investment? |
No.
•This contract is not designed for short-term investing and may not be appropriate for an
investor who needs ready access to cash. As such, you should not use
the contract as a short-term investment or savings
vehicle. •Charges may apply to withdrawals. Withdrawal charges could significantly reduce the
value of your investment or the amount that you receive upon taking a
withdrawal. Withdrawals may also reduce or terminate
contract guarantees and may also be subject to state and
federal income taxes and tax-penalties. •The benefits of tax deferral, long-term income, and optional
Living Benefit guarantees
mean that this contract is generally more beneficial to investors with
a long investment time horizon. | |||
| What are the
Risks Associated
with the
Investment
Options? |
•An investment in this contract is subject to the risk of poor investment performance and
can vary depending on the performance of the investment options
available under the contract.
•Each investment option (including each Fixed Account option) has its own unique risks. •You should review the available investment options before
making an investment decision. | |||
| What are the
Risks Related to
the Insurance
Company? |
An investment in the contract is subject to the risks related to us,
American General Life Insurance Company. Any obligations
(including under a Fixed Account option), guarantees,
and benefits of the contract are subject to our claims-paying ability.
An Owner should look solely to our financial strength
for our claims-paying ability. More information about the
Company, including our financial strength ratings, may be obtained at
https://investors.corebridgefinancial.com/financials/Ratings/default.aspx
. | |||
| |
RESTRICTIONS
|
| ||
| Are There Limits
on the Investment
Options? |
Yes.
Transfer Restrictions.
•During the Accumulation Phase, you must transfer at least $100 per transfer between any
of the Variable Portfolios and/or any available Fixed Accounts. If
less than $100 remains in any Variable Portfolio or
Fixed Account after a transfer, that amount must be
transferred as well. Funds already in your contract cannot be
transferred to the DCA Fixed Account, if available. A
transfer request will be priced as of the day it is received before Market Close. If the transfer request is received after Market Close, the request
will be priced as of the next NYSE business day.
•During the Income Phase, only one transfer per month is permitted between the Variable
Portfolios. No other transfers are allowed during the Income Phase.
Transfers will be effected for the last NYSE business
day of the month in which we receive your request for
the transfer. You may not use the DCA Program or the Automatic Asset
Rebalancing Program during the Income
Phase. •Your transfers between the Variable Portfolios are subject to policies designed to deter
frequent and short-term trading.
Investment Restrictions. If you elect an optional Living Benefit, not all investment options may be available and you must invest in accordance with the applicable investment
requirements. You may be required to invest a certain percentage of
your contract value in a certain investment option. We
reserve the right to modify the investment requirements in
the future. If you do not elect any optional benefit, or if the only
optional benefit you elect is a death benefit, your
contract is not subject to investment requirements. Availability of Variable Portfolios. We may,
subject to any applicable law, make certain changes to
the Variable Portfolios offered in your contract. We may offer new Variable Portfolios or stop offering existing Variable Portfolios. New Variable Portfolios may be
made available to existing contract Owners, and Variable Portfolios
may be closed to new or subsequent Purchase Payments,
transfers or allocations. In addition, we may also
liquidate the shares of any Variable Portfolio, substitute the shares
of one Underlying Fund held by a Variable Portfolio for
another and/or merge Variable Portfolios or cooperate in
a merger of Underlying Funds. To the extent required by the Investment Company Act of 1940, as amended, we may be required to obtain SEC approval or your
approval. |
Investment Options | ||
4
| |
RESTRICTIONS |
Location in
Prospectus | ||
| Are There Any
Restrictions on
Contract Benefits? |
Yes.
•There are restrictions and limitations relating to the benefits offered under the contract
(e.g., death benefits, Living Benefits, DCA Fixed Account, DCA
Program, Automatic Asset Rebalancing Program, Systematic
Withdrawal Program, Automatic Payment Plan).
•We reserve the right to modify or terminate the DCA Program, Automatic Asset
Rebalancing Program, Systematic Withdrawal Program, and Automatic
Payment Plan. •Withdrawals that exceed limits specified by the terms of a benefit may reduce the value of
the benefit by an amount greater than the value withdrawn and could
terminate the benefit. |
Optional Living
Benefits Death Benefits | ||
| |
TAXES |
| ||
| What are the
Contract’s Tax
Implications? |
•You should consult with a tax professional to determine the tax implications of an
investment in and payments received under the contract.
•If you purchase the contract through a tax-qualified plan or individual retirement account
(IRA), there is no additional tax benefit under the
contract. •Earnings under your contract are taxed at ordinary income tax rates when withdrawn.
You may have to pay a tax penalty if you take a withdrawal before age
59½. |
Taxes | ||
| |
CONFLICTS OF
INTEREST |
| ||
| How Are
Investment
Professionals
Compensated? |
Your financial representative may receive compensation for selling
this contract to you in the form of commissions,
additional cash compensation, and/or non-cash compensation. We may share the revenue we earn on this contract with your financial representative’s firm.
Revenue sharing arrangements and commissions may provide selling firms
and/or their registered representatives with an
incentive to favor sales of our contracts over other
variable annuity contracts (or other investments) with respect to
which a selling firm does not receive the same level of
additional compensation. You should ask your financial
representative about how they are compensated. |
Payments in Connection with Distribution of the Contract | ||
| Should I
Exchange My
Contract? |
Some financial representatives may have a financial incentive to offer
you a new contract in place of the one you already own.
You should exchange a contract you already own only if
you determine, after comparing the features, fees, and risks of both
contracts, that it is better for you to purchase the new
contract rather than continue to own your existing
contract. | |||
5
Appendix A – Investment Options Available Under The Contract
Underlying Funds
The following is a list of Underlying Funds available under the contract.
More information about the Underlying Funds is available in the prospectuses for the Underlying Funds, which may be amended from time to time and can be found online at
www.corebridgefinancial.com/ProductProspectuses. You can also request this information
at no cost by calling (855) 421-2692.
The current expenses and performance information below reflect fees and
expenses of the Underlying Funds, but do not reflect the other fees and expenses that your contract may charge. Expenses would be higher and performance would be lower
if these other charges were included. Each Underlying Fund’s past performance is not necessarily an indication of future performance.
| Type |
Underlying Fund – Share Class
Advisor
Subadvisor (if applicable) |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1 Year |
5 Year |
10 Year | |||
| Asset
Allocation |
Balanced Growth Strategy (for contracts purchased prior
to November 18, 2003)1 | ||||
| |
SA Allocation Moderate Portfolio – Class 1 SunAmerica Asset Management, LLC |
0.76%* |
12.86% |
5.75% |
7.45% |
| |
SA Franklin Allocation Moderately Aggressive
Portfolio – Class 2
SunAmerica Asset Management, LLC
Franklin Advisers, Inc. |
1.04%* |
17.70% |
10.60% |
10.23% |
| |
SA MFS Large Cap Growth Portfolio – Class 2
SunAmerica Asset Management, LLC
Massachusetts Financial Services
Company |
0.83% |
16.52% |
14.96% |
15.99% |
| |
Balanced Growth Strategy (for contract purchased on or
after November 18, 2003)1 | ||||
| |
SA Allocation Moderate Portfolio – Class 3 SunAmerica Asset Management, LLC |
1.01%* |
12.52% |
5.48% |
7.20% |
| |
SA Franklin Allocation Moderately Aggressive
Portfolio – Class 3 SunAmerica Asset Management, LLC Franklin Advisers, Inc. |
1.14%* |
17.57% |
10.49% |
10.11% |
| |
SA MFS Large Cap Growth Portfolio – Class 3 SunAmerica Asset Management, LLC Massachusetts Financial Services Company |
0.93% |
16.39% |
14.85% |
15.87% |
| |
Conservative Growth Strategy (for contracts purchased
prior to November 18, 2003)1 | ||||
| |
SA Allocation Balanced Portfolio – Class 1 SunAmerica Asset Management, LLC |
0.75%* |
11.36% |
4.18% |
6.03% |
| |
SA Franklin Allocation Moderately Aggressive
Portfolio – Class 2
SunAmerica Asset Management, LLC
Franklin Advisers, Inc. |
1.04%* |
17.70% |
10.60% |
10.23% |
| |
SA MFS Large Cap Growth Portfolio – Class 2
SunAmerica Asset Management, LLC
Massachusetts Financial Services
Company |
0.83% |
16.52% |
14.96% |
15.99% |
| |
Conservative Growth Strategy (for contract purchased on
or after November 18, 2003)1 | ||||
| |
SA Allocation Balanced Portfolio – Class 3 SunAmerica Asset Management, LLC |
1.00%* |
10.96% |
3.91% |
5.79% |
| |
SA Franklin Allocation Moderately Aggressive
Portfolio – Class 3 SunAmerica Asset Management, LLC Franklin Advisers, Inc. |
1.14%* |
17.57% |
10.49% |
10.11% |
A-1
| Type |
Underlying Fund – Share Class
Advisor
Subadvisor (if applicable) |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1 Year |
5 Year |
10 Year | |||
| Asset
Allocation
(continued) |
SA MFS Large Cap Growth Portfolio – Class 3 SunAmerica Asset Management, LLC Massachusetts Financial Services Company |
0.93% |
16.39% |
14.85% |
15.87% |
| |
Growth Strategy (for contracts purchased prior to
November 18, 2003)1 | ||||
| |
SA Allocation Aggressive Portfolio – Class 1 SunAmerica Asset Management, LLC |
0.78%* |
16.12% |
8.31% |
9.59% |
| |
SA Franklin Allocation Moderately Aggressive
Portfolio – Class 2
SunAmerica Asset Management, LLC
Franklin Advisers, Inc. |
1.04%* |
17.70% |
10.60% |
10.23% |
| |
SA MFS Large Cap Growth Portfolio – Class 2
SunAmerica Asset Management, LLC
Massachusetts Financial Services
Company |
0.83% |
16.52% |
14.96% |
15.99% |
| |
Growth Strategy (for contract purchased on or after
November 18, 2003)1 | ||||
| |
SA Allocation Aggressive Portfolio – Class 3 SunAmerica Asset Management, LLC |
1.03%* |
15.84% |
8.05% |
9.34% |
| |
SA Franklin Allocation Moderately Aggressive
Portfolio – Class 3 SunAmerica Asset Management, LLC Franklin Advisers, Inc. |
1.14%* |
17.57% |
10.49% |
10.11% |
| |
SA MFS Large Cap Growth Portfolio – Class 3 SunAmerica Asset Management, LLC Massachusetts Financial Services Company |
0.93% |
16.39% |
14.85% |
15.87% |
| |
Moderate Growth Strategy (for contracts purchased prior
to November 18, 2003)1 | ||||
| |
SA Allocation Moderately Aggressive Portfolio – Class 1 SunAmerica Asset Management, LLC |
0.76%* |
14.35% |
6.79% |
8.32% |
| |
SA Franklin Allocation Moderately Aggressive
Portfolio – Class 2
SunAmerica Asset Management, LLC
Franklin Advisers, Inc. |
1.04%* |
17.70% |
10.60% |
10.23% |
| |
SA MFS Large Cap Growth Portfolio – Class 2
SunAmerica Asset Management, LLC
Massachusetts Financial Services
Company |
0.83% |
16.52% |
14.96% |
15.99% |
| |
Moderate Growth Strategy (for contract purchased on or
after November 18, 2003)1 | ||||
| |
SA Allocation Moderately Aggressive Portfolio – Class 3 SunAmerica Asset Management, LLC |
1.01%* |
14.13% |
6.52% |
8.07% |
| |
SA Franklin Allocation Moderately Aggressive
Portfolio – Class 3 SunAmerica Asset Management, LLC Franklin Advisers, Inc. |
1.14%* |
17.57% |
10.49% |
10.11% |
| |
SA MFS Large Cap Growth Portfolio – Class 3 SunAmerica Asset Management, LLC Massachusetts Financial Services Company |
0.93% |
16.39% |
14.85% |
15.87% |
| |
SA Allocation Aggressive Portfolio2 – Class 3
SunAmerica Asset Management, LLC |
1.03%* |
15.84% |
8.05% |
9.34% |
| |
SA Allocation Balanced Portfolio2 – Class 3
SunAmerica Asset Management, LLC |
1.00%* |
10.96% |
3.91% |
5.79% |
| |
SA Allocation Moderate Portfolio2 – Class 3
SunAmerica Asset Management, LLC |
1.01%* |
12.52% |
5.48% |
7.20% |
| |
SA Allocation Moderately Aggressive Portfolio2 – Class 3
SunAmerica Asset Management, LLC |
1.01%* |
14.13% |
6.52% |
8.07% |
A-2
| Type |
Underlying Fund – Share Class
Advisor
Subadvisor (if applicable) |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1 Year |
5 Year |
10 Year | |||
| Bond |
Fidelity VIP Investment Grade Bond Portfolio3 – Service Class
2 Fidelity Management & Research
Company |
0.62% |
6.93% |
-0.21% |
2.45% |
| |
SA American Century Inflation Managed Portfolio4 – Class 3
SunAmerica Asset Management, LLC
American Century Investment Management,
Inc. |
0.85% |
6.21% |
0.63% |
2.06% |
| |
SA JPMorgan Ultra-Short Bond Portfolio4 – Class 25
SunAmerica Asset Management, LLC
J.P. Morgan Investment Management Inc.
|
0.70% |
4.41% |
2.30% |
1.54% |
| |
SA JPMorgan Ultra-Short Bond Portfolio4 – Class 3
SunAmerica Asset Management, LLC
J.P. Morgan Investment Management Inc.
|
0.80% |
4.39% |
2.20% |
1.45% |
| |
SA Multi-Managed Diversified Fixed Income Portfolio4 – Class 25
PineBridge Investments, LLC
Wellington Management Company LLP
|
0.87% |
6.72% |
-0.63% |
1.92% |
| |
SA Multi-Managed Diversified Fixed Income Portfolio4 – Class 3
PineBridge Investments, LLC
Wellington Management Company LLP
|
0.97% |
6.62% |
-0.73% |
1.83% |
| Cash |
Goldman Sachs VIT Government Money Market Fund3 – Service
Shares
Goldman Sachs Asset Management, L.P.
|
0.43%* |
3.94% |
2.98% |
1.90% |
| Stock |
Fidelity VIP Contrafund Portfolio3 – Class 2
Fidelity Management & Research
Company |
0.79% |
21.19% |
15.08% |
15.49% |
| |
Fidelity VIP Equity-Income Portfolio3 – Class 2
Fidelity Management & Research
Company |
0.71% |
18.75% |
12.23% |
11.32% |
| |
Fidelity VIP Mid Cap Portfolio3 – Class 2
Fidelity Management & Research
Company |
0.80% |
11.49% |
9.83% |
10.31% |
| |
Fidelity VIP Overseas Portfolio3 – Class 2
Fidelity Management & Research
Company |
0.97% |
20.05% |
6.35% |
7.66% |
| |
SA AB Growth Portfolio6 – Class 25
SunAmerica Asset Management, LLC
AllianceBernstein L.P. |
0.78% |
12.90% |
11.78% |
15.97% |
| |
SA AB Growth Portfolio6 – Class 3
SunAmerica Asset Management, LLC
AllianceBernstein L.P. |
0.88% |
12.79% |
11.67% |
15.85% |
| |
SA American Funds Global Growth Portfolio3,7 – Class 3
SunAmerica Asset Management, LLC
Capital Research and Management Company
|
0.95%* |
21.35% |
7.94% |
11.86% |
| |
SA American Funds Growth Portfolio3,7 – Class 3
SunAmerica Asset Management, LLC
Capital Research and Management Company
|
0.85%* |
19.91% |
13.07% |
17.65% |
| |
SA American Funds Growth-Income Portfolio3,7 – Class 3
SunAmerica Asset Management, LLC
Capital Research and Management Company
|
0.82%* |
17.67% |
13.57% |
13.59% |
| |
SA Columbia Focused Value Portfolio6 – Class 25
Columbia Management Investment Advisers,
LLC |
0.88%* |
27.88% |
13.30% |
12.45% |
| |
SA Columbia Focused Value Portfolio6 – Class 3
Columbia Management Investment Advisers,
LLC |
0.98%* |
27.67% |
13.18% |
12.33% |
| |
SA Multi-Managed International Equity Portfolio4 – Class 25
SunAmerica Asset Management, LLC
BlackRock Investment Management, LLC, Schroder
Investment Management North America
Inc. and T. Rowe Price Associates,
Inc. |
1.19%* |
29.17% |
7.39% |
7.75% |
A-3
| Type |
Underlying Fund – Share Class
Advisor
Subadvisor (if applicable) |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1 Year |
5 Year |
10 Year | |||
| Stock
(continued) |
SA Multi-Managed International Equity Portfolio4 – Class 3
SunAmerica Asset Management, LLC
BlackRock Investment Management, LLC, Schroder
Investment Management North America
Inc. and T. Rowe Price Associates,
Inc. |
1.29%* |
29.06% |
7.29% |
7.63% |
| |
SA Multi-Managed Large Cap Growth Portfolio4 – Class 25
SunAmerica Asset Management, LLC
BlackRock Investment Management, LLC, Goldman Sachs
Asset Management, L.P. and Morgan
Stanley Investment Management
Inc. |
0.94%* |
19.62% |
9.76% |
14.80% |
| |
SA Multi-Managed Large Cap Growth Portfolio4 – Class 3
SunAmerica Asset Management, LLC
BlackRock Investment Management, LLC, Goldman Sachs
Asset Management, L.P. and Morgan
Stanley Investment Management
Inc. |
1.04%* |
19.51% |
9.66% |
14.68% |
| |
SA Multi-Managed Large Cap Value Portfolio4 – Class 25
SunAmerica Asset Management, LLC
BlackRock Investment Management, LLC, Federated MDTA
LLC, and Wellington Management Company
LLP8 |
1.00%* |
12.81% |
10.84% |
9.93% |
| |
SA Multi-Managed Large Cap Value Portfolio4 – Class 3
SunAmerica Asset Management, LLC
BlackRock Investment Management, LLC, Federated MDTA
LLC, and Wellington Management Company
LLP8 |
1.10%* |
12.67% |
10.73% |
9.82% |
| |
SA Multi-Managed Mid Cap Growth Portfolio4 – Class 25
SunAmerica Asset Management, LLC
BlackRock Investment Management, LLC, T. Rowe Price
Associates, Inc. and Wellington
Management Company LLP |
1.13% |
8.30% |
4.63% |
12.00% |
| |
SA Multi-Managed Mid Cap Growth Portfolio4 – Class 3
SunAmerica Asset Management, LLC
BlackRock Investment Management, LLC, T. Rowe Price
Associates, Inc. and Wellington
Management Company LLP |
1.23% |
8.14% |
4.52% |
11.88% |
| |
SA Multi-Managed Mid Cap Value Portfolio4 – Class 25
SunAmerica Asset Management, LLC
BlackRock Investment Management, LLC, T. Rowe Price
Associates, Inc. and Massachusetts
Financial Services Company |
1.15% |
7.19% |
10.04% |
9.38% |
| |
SA Multi-Managed Mid Cap Value Portfolio4 – Class 3
SunAmerica Asset Management, LLC
BlackRock Investment Management, LLC, T. Rowe Price
Associates, Inc. and Massachusetts
Financial Services Company |
1.25% |
7.03% |
9.93% |
9.27% |
| |
SA Multi-Managed Small Cap Portfolio4 – Class 25
SunAmerica Asset Management, LLC
BlackRock Investment Management, LLC, J.P. Morgan
Investment Management Inc. and
Schroder Investment Management North
America Inc. |
1.15% |
6.43% |
6.27% |
8.13% |
| |
SA Multi-Managed Small Cap Portfolio4 – Class 3
SunAmerica Asset Management, LLC
BlackRock Investment Management, LLC, J.P. Morgan
Investment Management Inc. and
Schroder Investment Management North
America Inc. |
1.25% |
6.26% |
6.16% |
8.02% |
| |
T. Rowe Price Blue Chip Growth Portfolio3 – II Class
T. Rowe Price Associates, Inc. |
1.00% |
18.43% |
11.41% |
15.25% |
| |
T. Rowe Price Equity Income Portfolio3 – II Class
T. Rowe Price Associates, Inc. |
0.99% |
14.07% |
10.89% |
10.24% |
| Volatility
Control |
SA VCP Dynamic Allocation Portfolio3 – Class 3
SunAmerica Asset Management, LLC
AllianceBernstein L.P. |
1.01% |
11.13% |
5.34% |
7.51% |
A-4
| Type |
Underlying Fund – Share Class
Advisor
Subadvisor (if applicable) |
Current
Expenses |
Average Annual Total Returns
(as of 12/31/2025) | ||
| 1 Year |
5 Year |
10 Year | |||
| Volatility
Control
(continued) |
SA VCP Dynamic Strategy Portfolio3 – Class 3
SunAmerica Asset Management, LLC
AllianceBernstein L.P. |
1.03% |
10.89% |
5.66% |
7.19% |
* This Underlying Fund is subject to an expense reimbursement or fee waiver arrangement resulting in a temporary expense reduction. See the Underlying Fund prospectus for additional information.
1
Seasons Strategies are Variable Portfolios comprised of certain Underlying Funds
of the Seasons Series Trust and SunAmerica Series Trust. Each Seasons Strategy is multi-managed by a group of managers identified above.
2
Part of Managed Allocation Portfolios.
3
Part of Premier Portfolios.
4
Part of Select Portfolios.
5
Available for investment if you purchased your contract prior to November 18,
2003.
6
Part of Focused Portfolios.
7
Capital Research and Management Company is the investment adviser of the master
fund in which this Underlying Fund (Master-Feeder Fund) invests. Under a master-feeder fund structure, the feeder fund does not buy individual securities directly.
Rather, the feeder fund invests all of its investment assets in a corresponding master fund, which invests directly in individual securities.
8
On May 1, 2026, Federated MDTA LLC replaced the American Century Investment Management, Inc. as a subadvisor.
Fixed Accounts
The following is a list of Fixed Accounts currently available under the
contract. We may change the features of the Fixed Accounts listed below, offer new Fixed Accounts, and terminate existing Fixed Accounts. We will provide you with
written notice before doing so.
See INVESTMENT OPTIONS - FIXED ACCOUNTS of the prospectus for a description of the
Fixed Accounts' features.
| Name |
Terms |
Minimum Guaranteed Interest Rate |
| 1-Year Fixed Account |
1-Year |
1% |
| Dollar Cost Averaging Fixed Account |
6-Month, 12-Month, 2-Year |
1% |
A-5
SEASONS
STRATEGIES AVAILABLE FOR INVESTMENT
This section contains the
Seasons Strategies available for investment.
Growth Strategy
Goal: Long-term growth of capital, allocating its assets primarily to stocks. This Seasons Strategy may be best suited for those with longer periods to
invest.
| Target Asset Allocation: | ||
| Stocks 85% |
|
Bonds 15% |
Balanced Growth Strategy
Goal: Focuses on conservation of principal by investing in a more balanced weighting of stocks and bonds,
with a secondary objective of seeking a high total return. This Seasons Strategy may be
best suited for those approaching retirement and with less tolerance for investment risk.
| Target Asset Allocation: | ||
| Stocks 70% |
|
Bonds 30% |
Moderate Growth Strategy
Goal: Growth of capital through investments in equities, with a secondary objective of conservation of
principal by allocating more of its assets to bonds than the Growth Strategy. This
Seasons Strategy may be best suited for those nearing retirement years but still earning income.
| Target Asset Allocation: | ||
| Stocks 75% |
|
Bonds 25% |
Conservative Growth Strategy
Goal: Capital preservation while maintaining some potential for growth over the long term. This Seasons
Strategy may be best suited for those with lower investment risk tolerance.
| Target Asset Allocation: | ||
| Stocks 60% |
|
Bonds 40% |
A-6
STRATEGIC ALLOCATION PROGRAM FOR
CONTRACTS ISSUED PRIOR TO FEBRUARY 6, 2017
Effective on February 6, 2017, we will no longer offer the Strategic Allocation Program and we will no longer update the Strategic Allocation
Program.
If you are currently invested
in a Strategic Allocation, you will remain invested in the same Variable Portfolios and
in the same amounts and weights as before the Strategic Allocation Program was
terminated; however, the investment will no longer be considered to be a Strategic
Allocation and you may no longer trade into a Strategic Allocation. Any active asset
rebalancing or dollar cost averaging programs will continue according to your current
allocations on file.
Allocations (effective February 6, 2017)
| Variable Portfolios |
Allocation 1 |
Allocation 2 |
Allocation 3 |
| Fidelity VIP Contrafund |
0.99% |
1.32% |
1.98% |
| Fidelity VIP Equity-Income |
2.64% |
2.97% |
3.30% |
| Fidelity VIP Investment Grade Bond |
15.51% |
10.56% |
6.93% |
| Fidelity VIP Mid Cap |
3.96% |
5.61% |
6.27% |
| Fidelity VIP Overseas |
1.98% |
2.64% |
3.30% |
| SA Allocation Balanced |
67.00% |
0.00% |
0.00% |
| SA Allocation Moderate |
0.00% |
67.00% |
0.00% |
| SA Allocation Moderately Aggressive |
0.00% |
0.00% |
67.00% |
| SA American Funds Global Growth |
1.98% |
2.31% |
2.64% |
| SA American Funds Growth |
0.66% |
0.99% |
1.32% |
| SA American Funds Growth-Income |
1.32% |
1.65% |
1.98% |
| T. Rowe Price Blue Chip Growth II |
0.99% |
1.32% |
1.32% |
| T. Rowe Price Equity Income II |
2.97% |
3.63% |
3.96% |
| Total |
100% |
100% |
100% |
*
* *
This summary prospectus incorporates by reference the prospectus and statement of additional information (SAI) for the contract, both dated May 1, 2026, as may be amended or supplemented from time to time. The SAI may be obtained, free of charge, in the same manner as the prospectus.
EDGAR Contract Identifier: C000124678
A-7
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