Can I make additional contributions to my variable annuity?

The Variable Annuity Life Insurance Company allows for additional contributions to variable annuities, but the specific terms and conditions can depend on the policies associated with your particular contract. Typically, variable annuities are designed to accept ongoing contributions, often referred to as “premium payments,” which can enhance the potential growth of your invested funds. However, some contracts may have minimum contribution requirements or caps on the amount you can contribute each year. It is important for policyholders to carefully review their annuity contract documents, as they provide detailed information about contribution limits and any potential repercussions of exceeding limits. Furthermore, individuals should consider how additional contributions may impact their financial strategy, including tax implications and overall investment goals. Those interested in making additional contributions are encouraged to check the latest information on the official VALIC website or consult their contract for specifics regarding their situation.