Milliman FRM's Structured Outcome-based Strategies and Funds are featured variable investment options within Advanced Outcomes AnnuitySM. This variable annuity is intended as a long-term retirement savings vehicle for a portion of client portfolios.

Milliman 6-Month Buffered S&P 500 with Par Up Outcome Fund

Investment Description: The Fund seeks to provide exposure to the S&P 500 Index, while attempting to provide a buffer against the first 10% of losses associated with S&P 500 Index performance and generally participating in S&P 500 Index gains at a declared rate determined on the fund term start date, prior to taking into account any fees or expenses or the performance of any fixed income exposure included in the Fund's portfolio, over a six-month period.

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Milliman 6-Year Buffered S&P 500 with Par Up Outcome Fund

Investment Description: The Fund seeks to provide exposure to the S&P 500 Index, while attempting to provide a buffer against the first 20% of losses associated with S&P 500 Index performance and generally participating in S&P 500 Index gains at a declared rate determined on the fund term start date, prior to taking into account any fees or expenses or the performance of any fixed income exposure included in the Fund's portfolio, over a six-year period.

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Milliman 6-Month Parred Down S&P 500 with Par Up Outcome Fund

Investment Description: The Fund seeks to provide exposure to the S&P 500 Index, while attempting to limit losses to 50% of the losses associated with S&P 500 Index performance and generally participating in S&P 500 Index gains at a declared rate determined on the fund term start date, prior to taking into account any fees or expenses or the performance of any fixed income exposure included in the Fund's portfolio, over a six-month period.

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Milliman 6-Year Parred Down S&P 500 with Par Up Outcome Fund

Investment Description: The Fund seeks to provide exposure to the S&P 500 Index, while attempting to limit losses to 50% of the losses associated with S&P 500 Index performance and generally participating in S&P 500 Index gains at a declared rate determined on the fund term start date, prior to taking into account any fees or expenses or the performance of any fixed income exposure included in the Fund's portfolio, over a six-year period.

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Milliman 1-Year Buffered S&P 500 with Spread Outcome Fund

Investment Description: The Fund seeks to provide exposure to the S&P 500 Index, while attempting to provide a buffer against the first 10% of losses associated with S&P 500 Index performance and generally participating in S&P 500 Index gains that exceed a declared spread determined on the fund term start date, prior to taking into account any fees or expenses or the performance of any fixed income exposure included in the Fund's portfolio, over a one-year period.

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Milliman 1-Year Floored S&P 500 with Par Up Outcome Fund

Investment Description: The Fund seeks to provide exposure to the S&P 500 Index, while attempting to limit losses associated with S&P 500 Index performance to 10% and generally participating in S&P 500 Index gains at a declared rate determined on the fund term start date, prior to taking into account any fees or expenses or the performance of any fixed income exposure included in the Fund's portfolio, over a one-year period.

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Milliman 1-Year Buffered S&P 500 & Nasdaq with Stacker Cap Outcome Fund

Investment Description: The Fund seeks to provide exposure to the S&P 500 Index, while attempting to provide a buffer against the first 10% of losses associated with S&P 500 Index performance and generally participating in S&P 500 Index gains up to a declared cap determined on the fund term start date, prior to taking into account any fees or expenses or the performance of any fixed income exposure included in the Fund's portfolio, over a one-year period.

The Fund also seeks to provide upside exposure to the Nasdaq-100® Index up to a declared cap determined on the fund term start date, prior to taking into account any fees or expenses or the performance of any fixed income exposure included in the Fund's portfolio, over the same period.

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Milliman 1-Year Buffered S&P 500 & Russell 2000 with Stacker Cap Outcome Fund

Investment Description: The Fund seeks to provide exposure to the S&P 500 Index, while attempting to provide a buffer against the first 10% of losses associated with S&P 500 Index performance and generally participating in S&P 500 Index gains up to a declared cap determined on the fund term start date, prior to taking into account any fees or expenses or the performance of any fixed income exposure included in the Fund's portfolio, over a one-year period.

The Fund also seeks to provide upside exposure to the Russell 2000 Index up to a declared cap determined on the fund term start date, prior to taking into account any fees or expenses or the performance of any fixed income exposure included in the Fund's portfolio, over the same period.

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Milliman 1-Year Buffered S&P 500 & MSCI EAFE with Stacker Cap Outcome Fund

Investment Description: The Fund seeks to provide exposure to the S&P 500 Index, while attempting to provide a buffer against the first 10% of losses associated with S&P 500 Index performance and generally participating in S&P 500 Index gains up to a declared cap determined on the fund term start date, prior to taking into account any fees or expenses or the performance of any fixed income exposure included in the Fund's portfolio, over a one-year period.

The Fund also seeks to provide upside exposure to the MSCI EAFE Index up to a declared cap determined on the fund term start date, prior to taking into account any fees or expenses or the performance of any fixed income exposure included in the Fund's portfolio, over the same period.

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Investors purchasing shares of a fund using this strategy after an outcome period has begun may experience very different results than the fund's investment objective. Following the initial outcome period, each subsequent outcome period will begin on the tenth day of the month the fund was incepted. After the conclusion of an outcome period, another will begin. Depending upon market conditions at the time of purchase, investors who purchase shares after the outcome period has begun may also lose their entire investment. An investment in the fund is only appropriate for investors willing to bear those losses.

Investing involves risks. Loss of principal is possible. The funds face numerous market risks, including: fixed income risk, active markets risk, participation rate change risk, capped upside return risk, correlation risk, liquidity risk, management risk, market risk, non-diversification risk, operation risk, options risk, FLEX options risk, trading issues risk, upside participation risk and valuation risk.

The fund will utilize FLEX Options issued and guaranteed for settlement by the Options Clearing Corporation (OCC). In the unlikely event that the OCC becomes insolvent or is otherwise unable to meet its settlement obligations, the fund could suffer significant losses. Additionally, FLEX Options may be less liquid than standard options. In a less liquid market for the FLEX Options, the fund may have difficulty closing out certain FLEX Options positions at desired times and prices. The values of FLEX Options do not increase or decrease at the same rate as the reference asset and may vary due to factors other than the price of reference asset.

Any reference to a market index is included for illustrative purposes only, as it is not possible to directly invest in an index. Indices are unmanaged, hypothetical vehicles that serve as market indicators and do not account for the deduction of management fees or transaction costs generally associated with investable products, which otherwise have the effect of reducing the results of an actual investment portfolio.

The fund invests in fixed income assets, from which a portion of the expected yield is derived to support the fund's overall investment strategy. This is atypical from a traditional investment in fixed income assets, whereby the investor directly receives income from the fixed income positions. Because the fund invests in fixed income assets, some credit risk is introduced, and the strategy may not achieve its desired objective.

Advanced Outcomes Annuity offers structured outcome strategies with underlying funds that have characteristics unlike many other traditional investment products and may not be suitable for all investors. There is no guarantee that the outcomes for a specific fund term will be realized. For more information regarding whether an investment in these funds is right for you, please see the product and fund prospectuses.

Variable annuities are long-term investments designed for retirement. Early withdrawals may be subject to withdrawal charges. Partial withdrawals may reduce benefits available under the contract, as well as the amount available upon a full surrender. Withdrawals of taxable amounts are subject to ordinary income tax and if taken prior to age 59½, an additional 10% federal tax may apply.

An investment in Advanced Outcomes Annuity involves investment risk, including possible loss of principal. The contract, when redeemed, may be worth more or less than the total amount invested. Products and features may vary by state and may not be available in all states or firms. We reserve the right to change fees for features described in this material; however, once a contract is issued, the fees will not change. The purchase of Advanced Outcomes Annuity is not required for, and is not a term of, the provision of any banking service or activity.

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.

All contract and optional benefit guarantees are backed by the claims-paying ability of the issuing insurance company. They are not backed by the broker/dealer from which this annuity is purchased.

Advanced Outcomes Annuity is sold by prospectus only. The prospectus contains the investment objectives, risks, fees, charges, expenses and other information regarding the contract and underlying funds, which should be considered carefully before investing. A prospectus may be obtained by calling 1-877-445-1262. Investors should read the prospectus carefully before investing.

Contracts and features may vary by state or may not be available in all states.

Advanced Outcomes Annuity is issued by American General Life Insurance Company (AGL), Houston, TX, in all states except New York. AGL does not solicit, issue or deliver policies or contracts in the state of New York. Distributed by AIG Capital Services, Inc. (ACS), member FINRA. AGL and ACS are members of American International Group, Inc. (AIG).