Strategy Overview:
monthly sum
The monthly sum strategy bases the indexed interest rate upon
the sum of 12 monthly percentage changes in the S&P 500®.1
The monthly change is determined by comparing the value of
the S&P 500 at the end of a one-month segment to the value
of the S&P 500 at the beginning of that one-month segment.
A monthly cap is applied to positive monthly changes, but
negative monthly changes are not similarly limited. As a result,
negative monthly changes may cause the indexed interest rate
for this strategy to be zero, even if the overall annual index
change for the period is positive. The indexed interest rate is
calculated over the term, not the calendar year.
This strategy is particularly beneficial when the index is steadily
increasing with few monthly decreases. Alternatively, an annual
term where some monthly segments are largely negative would
earn lower interest.
The power of 100% protection through:
★ The security of a life insurance company rated “A (excellent)” by
A.M. Best. This is the third highest of 16 ratings.
★ The ability to receive a stream of payments you cannot outlive.
★ A guaranteed minimum surrender value.
★ Extended care and terminal illness waivers2 to provide flexibility in
case of unforeseen events.
Monthly sum illustration
segment
Monthly sum strategy:
1. Compare the value of the S&P 500 at the beginning of
each one-month segment during a term to the value of the
S&P 500 at the end of each one-month segment during
a term. Currently, segments begin on the 6th and 20th of
the month.
2. Next, deduct an amount called an index spread, guaranteed
at 0%.
3. Then, multiply the result by the participation rate,
guaranteed at 100%.
4. The result becomes your monthly change as limited by the
monthly cap and monthly floor. A positive monthly change
cannot exceed the monthly cap. A negative monthly change
cannot be more than the monthly floor, which may be
below zero.
5. Next, take the sum of the 12 monthly changes. Each annual
term contains 12 monthly segments.
6. The result becomes your indexed interest rate, not less
than zero.
Understanding this strategy
Index change
minus
0% index spread
Monthly
change 1
+
Hypothetical example
Cap
x
100% participation rate

= Monthly change

The example below shows the account value for a scenario with a
$10,000 purchase payment in the monthly sum strategy.
Term: 1 year
Index spread: 0%
Monthly floor
Monthly
change 2
+
…
+
Monthly
change 12
=
Account value calculation
Indexed
interest rate

Purchase payment
1 “Standard & Poor’s ”, “S&P ”, “S&P 500 ” and “Standard & Poor’s 500 ” are trademarks of
Standard & Poor’s Financial Services LLC (“Standard & Poor’s”) and have been licensed for
use by Great American Financial Resources, Inc. GAFRI companies’ annuity products are not
sponsored, endorsed, sold or promoted by Standard & Poor’s and Standard & Poor’s makes
no representation regarding the advisability of purchasing said products.
2 Waivers not available in all states.
Date
tm
When you buy a fixed-indexed annuity, you own an insurance contract. You are
not buying shares of any stock or index. You cannot invest directly in an index.
In a volatile market, a low monthly cap coupled with no monthly floor may
result in:
• 0% credited interest for the year even though the index itself has a positive
return for the year.
• lower credited interest than other fixed-indexed annuity crediting strategies
during the same period of time.
In a non-volatile market, a low monthly cap coupled with no monthly floor
may result in higher credited interest than other fixed-indexed annuity
crediting strategies during the same period of time.
Index change
®
$10,000
hypothetical index values % change
8/13/04
9/13/04
10/13/04
11/12/04
12/13/04
1/13/05
2/11/05
3/13/05
4/13/05
5/13/05
6/13/05
7/13/05
8/12/05
1,064.80
1,125.82
1,113.65
1,184.17
1,198.68
1,177.45
1,205.30
1,210.47
1,173.79
1,154.05
1,200.82
1,223.29
1,230.39
5.73%
-1.08%
6.33%
1.23%
-1.77%
2.37%
0.43%
-3.03%
-1.68%
4.05%
1.87%
0.58%
Total of monthly capped changes
Indexed interest rate
®
Monthly sum
Indexed
Floor = 0%
®
Participation rate: 100%
Monthly cap: 2.50%
Index spread
Participation rate
Indexed interest rate
Interest credited
Account value
Capped change
2.50%
-1.08%
2.50%
1.23%
-1.77%
2.37%
0.43%
-3.03%
-1.68%
2.50%
1.87%
0.58%
6.41%
0.00%
100%
6.41%
$641
$10,641
The monthly sum indexed strategy credited an indexed interest rate
of 6.41%. This is one strategy that may be available on your fixedindexed annuity. Ask your financial professional for details on the
strategies offered.
This example assumes that the purchase payment is submitted on a day when money is
moved into interest strategies, and the effects of any applicable bonus are not illustrated.
Products issued by Annuity Investors Life Insurance Company and Great American Life Insurance Company,
subsidiaries of Great American Financial Resources, Inc., Cincinnati, Ohio
www.GAFRI.com
Copyright © 2011 by Great American Financial Resources, Inc. All rights reserved.
B6024609NW
Not FDIC or NCUSIF Insured • No Bank or Credit Union Guarantee •
Not Insured by any Federal Government Agency • Not a Deposit • May Lose Value
3/11