Supplement dated August 22, 2022
to the
Prospectus dated May 1, 2022
and
Updating Summary Prospectus dated May 1, 2022
for
Schwab Advisor Choice Variable Annuity
issued by
Great-West Life & Annuity Insurance Company
Variable Annuity-1 Series Account
This Supplement amends certain information contained in the above-referenced Prospectus and Updating Summary Prospectus. Please read this Supplement carefully and retain it for future reference.
Great-West Life & Annuity Insurance Company (the “Company”) and other entities within the Company’s corporate group, including the underlying variable insurance funds historically marketed under the “Great-West Funds” brand, have adopted the brand name “Empower.” Accordingly, the names of the entities identified below have been changed to reflect the Empower brand name as of August 1, 2022.
The Company is now Empower Annuity Insurance Company of America.
GWL&A Financial Inc., the Company’s direct parent, is now Empower Holdings, Inc.
The names of the following Investment Segment Portfolios available under your Contract have been changed as set forth below:
|
Old Portfolio Name |
New Portfolio Name |
|
Great-West Aggressive Profile Investor |
Empower Aggressive Profile Investor |
|
Great-West Ariel Mid Cap Value Investor |
Empower Ariel Mid Cap Value Investor |
|
Great-West Bond Index Investor |
Empower Bond Index Investor |
|
Great-West International Index Investor |
Empower International Index Investor |
|
Great-West International Value Investor |
Empower International Value Investor |
|
Great-West Lifetime 2015 Investor |
Empower Lifetime 2015 Investor |
|
Great-West Lifetime 2020 Investor |
Empower Lifetime 2020 Investor |
|
Great-West Lifetime 2025 Investor |
Empower Lifetime 2025 Investor |
|
Great-West Lifetime 2030 Investor |
Empower Lifetime 2030 Investor |
|
Great-West Lifetime 2035 Investor |
Empower Lifetime 2035 Investor |
|
Great-West Lifetime 2040 Investor |
Empower Lifetime 2040 Investor |
|
Great-West Lifetime 2045 Investor |
Empower Lifetime 2045 Investor |
|
Great-West Lifetime 2050 Investor |
Empower Lifetime 2050 Investor |
|
Great-West Lifetime 2055 Investor |
Empower Lifetime 2055 Investor |
|
Great-West Lifetime 2060 Investor |
Empower Lifetime 2060 Investor |
|
Great-West Mid Cap Value Investor |
Empower Mid Cap Value Investor |
|
Great-West Moderately Aggressive Portfolio Investor |
Empower Moderately Aggressive Portfolio Investor |
|
Great-West Multi-Sector Bond Investor |
Empower Multi-Sector Bond Investor |
|
Great-West Small Cap Value Investor |
Empower Small Cap Value Investor |
|
Great-West T. Rowe Price Mid Cap Growth Investor |
Empower T. Rowe Price Mid Cap Growth Investor |
The names of the following Income Segment Covered Funds available for Contracts with the Guaranteed Lifetime Withdrawal Benefit Rider have been changed as set forth below:
|
Old Portfolio Name |
New Portfolio Name |
|
Great-West Conservative Profile Investor |
Empower Conservative Profile Investor |
|
Great-West Moderate Profile Investor |
Empower Moderate Profile Investor |
|
Great-West Moderately Conservative Portfolio Investor |
Empower Moderately Conservative Portfolio Investor |
|
Great-West SecureFoundation® Balanced Investor |
Empower SecureFoundation® Balanced Investor |
* * *
For more information about your Contract, please refer to the Prospectus, which is available online at www.protective.com/productprospectus. More information about the Portfolios is available in the prospectuses for the Portfolios, which can be found online at www.protective.com/eprospectus