RiverSource® Variable Annuity Disclosures
The solutions begin with a RiverSource® variable annuity.
A variable annuity is a long term investment issued by an insurance company that can help you grow your money, take income in retirement and pass on your wealth. The annuity owner invests in underlying funds that generally consist of stocks or bonds or a combination of the two. RiverSource variable annuities offer a broad range of carefully selected underlying funds, plus fixed account options. These underlying funds may have a name, portfolio manager, objective, strategies and/or characteristics that are the same or substantially similar to those of a publicly-traded retail mutual fund. Despite these similarities, these underlying funds are not the same as any publicly-traded retail mutual fund. Each underlying fund will have its own unique portfolio holdings, fees, operating expenses and operating results. The results of each underlying fund may differ significantly from any publicly-traded retail mutual fund.
As with other investments, there is potential to lose money based on the performance of the underlying funds. Unlike other investments, they provide a guaranteed death benefit for your beneficiaries, as well as optional guaranteed benefits with growth opportunities and protection features for an additional fee.
Variable annuities generally offer tax-deferred growth. This means you do not pay taxes until you take withdrawals. If your annuity is in a retirement plan that already offers tax deferral (such as an IRA), the annuity does not provide any additional tax deferral. But you can benefit from all the other features that the annuity has to offer. Because of their tax-deferred status, withdrawals made prior to age 59½ may incur an IRS early withdrawal penalty.
With a variable annuity, you will pay a Mortality and Expense (M&E) fee, which helps cover the guarantees they provide. Variable annuity investors also pay underlying fund expenses, and in some cases, an annual contract charge. A surrender charge may apply to withdrawals during the surrender charge period.
RiverSource Life Insurance Company, or in New York, RiverSource Life Insurance Co. of New York, offers several different annuities which your financial advisor may be authorized to offer you. Each annuity has different features and benefits that may be appropriate for you based on your financial situation and needs, your risk tolerance, your age and how you intend to use the annuity. The different features and benefits may include the investment options, fund managers, interest rates, guarantees, bonus crediting, surrender charge schedules, optional riders and liquidity (access to your money without fees or charges). The fees and charges may also be different among the annuity contracts we offer.
You should consider the investment objectives, risks, charges and expenses of the variable annuity and its underlying investment options carefully before investing. For a free copy of the annuity's prospectus and underlying investment's prospectus, which contains this and other information about variable annuities, call 800.333.3437. Read the prospectus carefully before you invest.
Diversification helps you spread risk throughout your portfolio, so investments that do poorly may be balanced by others that do relatively better. Diversification does not assure a profit or protect against loss.
Our guarantees are backed by strength and soundness
The guarantees offered by RiverSource variable annuities are backed by the strength and soundness of RiverSource life Insurance Company and, in New York, by RiverSource Life Insurance Co. of New York, and are subject to its claims-paying ability. These guarantees do not apply to the performance of the investments in the annuity, which will vary with market conditions. Neither RiverSource Life Insurance Company nor RiverSource Life Insurance Co. of New York can guarantee future financial results and there is no guarantee that a variable annuity will keep up with inflation.
Portfolio Stabilizer and Portfolio Navigator
The Portfolio Stabilizer and Portfolio Navigator funds are investment options within variable annuity products offered by RiverSource Life Insurance Company and RiverSource Life Insurance Co. of New York (collectively, RiverSource Life). The funds are managed by Columbia Management Investment Advisers, LLC (Columbia Management), an affiliate of RiverSource Life. Columbia Management, RiverSource Life and their affiliates may receive revenue related to assets allocated to these funds. Please read the product and fund prospectuses carefully before investing.
There is no guarantee that the Portfolio Stabilizer funds will achieve their investment objectives, and you could lose money. The funds may also be unsuccessful in managing volatility. By investing in a combination of underlying funds (among other investments), the funds have exposure to the risks associated with many areas of the market. The market value of securities may fall or fail to rise, or fluctuate, sometimes rapidly or unpredictably. Foreign and emerging markets investing generally presents increased risk potential relative to US investments. There are risks associated with fixed income investments, including interest rate risk and the risk that the counterparty to the instrument may not perform or be unable to perform its obligations, including making payments. Investments in high-yield (junk) securities could expose the funds to a greater risk of loss of principal and income than an investment in higher quality securities. The use of derivatives introduces risks which are potentially greater than the risks of investing directly in the instruments underlying the derivatives. These transactions also subject the funds to counterparty risk; the risk that derivatives used to protect against an opposite position may offset losses, but may also offset gains; the risk that the instruments may be difficult to value; and the risk that it may not be possible to liquidate the instruments at an advantageous time or price. Investment in exchange-traded funds (ETFs) subjects these funds to the risks associated with the ETF’s holdings. Fund investors bear both their proportionate share of the funds’ expenses and similar expenses incurred through ownership of ETFs, as well as other underlying funds. For additional risk information, please read the fund’s prospectus.
For RiverSource Life Insurance Company:
RAVA Apex® variable annuity contract numbers ICC21 117101, 117101 and state variations thereof.
RAVA Vista® variable annuity contract numbers ICC21 117102, 117102 and state variations thereof.
Optional rider numbers: MAV 411278; MAV5 411291; Enhanced Legacy® benefit ICC15 111687, 111687 and state variations thereof; BP 411281. Features may vary, have limitations or may not be available in some states.
For RiverSource Life Insurance Co. of New York:
RAVA Apex NY® variable annuity contract number 117101-NY.
RAVA Vista NY® variable annuity contract number 117102-NY.
MAV rider number 411278-NY; MAV5 rider number 411291-NY.