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How Fixed-Indexed Annuities Perform in Different Market Conditions

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There are many financial products to consider when building your retirement income strategy. Equity-based products, such as stocks and mutual funds, can help you maximize earnings when the market is up, but carry a greater risk of loss when the market is down.

A fixed-indexed annuity protects your retirement savings from loss while providing the opportunity to earn interest that is tied to the performance of a well-known index, such as the S&P 500®.

The following scenarios help you understand how an equity-based product would perform in different market conditions over time compared to a fixed-indexed annuity.

Over time, when market conditions are... An equity-based investment will... A fixed-indexed annuity (FIA) may... Why?
Up Gain Gain An equity investment and FIA both grow when markets rise. Interest earned by an FIA is subject to limitations.
Down Lose Break Even An equity investment loses value when markets fall, while an FIA protects from loss and breaks even.
Up then Down or
Down then Up
Break Even Gain When markets rise or fall and then return to original levels, an equity investment will break even, while an FIA may lock in interest during the rise and protect from loss during the fall.
Volatile Unknown Gain The value of an equity investment can fluctuate during volatile market conditions, while an FIA may lock in interest and protect from loss.

Incorporating a fixed-indexed annuity into your retirement portfolio can help protect your savings from market loss while providing the opportunity to benefit from market gains. Talk with your insurance professional to see if a fixed-indexed annuity is right for you.

The scenarios set out above are designed to provide some general information about the connection between market conditions and interest that an FIA may earn. For our FIAs, we credit indexed interest at the end of each term. This means the indexed interest rate for a term will depend on when the term ends in relation to the market movement. The annuity will earn indexed interest at the end of a term only if the change in the index/value over that term is positive. The formulas we use to calculate indexed interest rates include caps and participation rates, which limit the effect of a positive index/value change on the account value. If the change in the index/value over a term is negative, the annuity will not earn any indexed interest but the account value, which will include indexed interest earned in prior terms, will not go down. It is not possible to state with certainty whether the annuity will earn indexed interest under fluctuating or volatile market conditions. Before you purchase an FIA, consider all of its benefits, features and costs, including charges that may apply if you withdraw money from the annuity.

When you buy a fixed-indexed annuity, you own an insurance contract. You are not buying shares of any stock or index. All guarantees are backed by the claims-paying ability of the issuing insurance company.

The S&P 500 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Great American Life Insurance Company®. Standard & Poor’s®, S&P®, and S&P 500®are registered trademarks of Standard & Poor’s Financial Services LLC (“S∓P”); Dow Jones® is a registered trademark Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Annuity Investors Life Insurance Company® and Great American Life Insurance Company®. Annuity Investors Life Insurance Company and Great American Life Insurance Company’s annuity products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties makes any representation regarding the advisability of purchasing said products nor do they have any liability for any errors, omissions or interruptions of the S&P 500 Index.

Products issued by Great American Life Insurance Company, a wholly owned subsidiary of MassMutual.

Not FDIC or NCUSIF Insured • No Bank or Credit Union Guarantee • Not Insured by any Federal Government Agency • Not a Deposit • May Lose Value