WIXLIB

Investing outside the U.S. The fund may invest up to 10% of assets in equity securities of larger non-U.S.companies so long as they are listed or traded in the United States. In determining the domicile of an issuer, the fund’s investment adviser will consider thedomicile determination of a leading provider of global indexes, such as Morgan StanleyCapital International, and may also take into account such factors as where the issuer’ssecurities are listed and where the issuer is legally organized, maintains principalcorporate offices, conducts its principal operations and/or generates revenues.Global Growth and Income FundGeneral The fund seeks to make your investment grow over time and provide you with currentincome by investing primarily in stocks of well-established companies located aroundthe world.Investing outside the U.S. Under normal market conditions, the fund invests at least 40% of its net assets in issuersdomiciled outside the United States. If market conditions are not deemed favorable bythe fund’s investment adviser, the fund will invest at least 30% of its net assets in issuersdomiciled outside the United States. For temporary defensive purposes, the fund may invest principally or entirely insecurities that are denominated in U.S. dollars or whose issuers are domiciled in theUnited States. Securities denominated in U.S. dollars include American DepositaryReceipts, certain European Depositary Receipts and Global Depositary Receipts. In determining the domicile of an issuer, the fund’s investment adviser will consider thedomicile determination of a leading provider of global indexes, such as Morgan StanleyCapital International, and may also take into account such factors as where the issuer’ssecurities are listed and where the issuer is legally organized, maintains principalcorporate offices, conducts its principal operations and/or generates revenues.Debt instruments The fund may invest up to 10% of its assets in straight debt securities (i.e., debtsecurities that do not have equity conversion or purchase rights) rated Baa1 or belowand BBB or below by NRSROs, or unrated but determined to be of equivalent qualityby the fund’s investment adviser. The fund currently intends to look to the ratings fromMoody’s Investors Services, Standard & Poor’s Ratings Services and Fitch Ratings. Ifrating agencies differ, securities will be considered to have received the highest ofthese ratings, consistent with the fund's investment policies. The fund may invest up to 5% of its assets in straight debt securities (i.e., debt securitiesthat do not have equity conversion or purchase rights) rated Ba1 or below and BB orbelow by NRSROs, or unrated but determined to be of equivalent quality by the fund'sinvestment adviser.American Funds Insurance Series — Page 6

Growth-Income FundGeneral The fund invests primarily in common stocks or other securities that demonstrate thepotential for appreciation and/or dividends.Investing outside the U.S. The fund may invest up to 15% of its assets in securities of issuers domiciled outside theUnited States. In determining the domicile of an issuer, the fund’s investment adviser will consider thedomicile determination of a leading provider of global indexes, such as Morgan StanleyCapital International, and may also take into account such factors as where the issuer’ssecurities are listed and where the issuer is legally organized, maintains principalcorporate offices, conducts its principal operations and/or generates revenues.Debt instruments The fund may invest up to 5% of its assets in straight debt securities rated Ba1 or belowand BB or below by NRSROs, or unrated but determined to be of equivalent quality bythe fund's investment adviser. The fund currently intends to look to the ratings fromMoody’s Investors Services, Standard & Poor’s Ratings Services and Fitch Ratings. Ifrating agencies differ, securities will be considered to have received the highest ofthese ratings, consistent with the fund's investment policies.International Growth and Income FundGeneral The fund may invest up to 20% of its assets in securities of issuers domiciled in theUnited States. However, the fund has no current intention of investing more than 10% ofits assets in securities of issuers domiciled in the United States (excluding cashequivalents of U.S. issuers) and issuers whose securities are primarily listed on U.S.securities exchanges. The fund currently intends to invest at least 90% of its assets insecurities of issuers domiciled outside the United States whose securities are primarilylisted on exchanges outside the United States, and cash and cash equivalents (includingcash equivalents issued by U.S. issuers). The fund may invest a portion of its assets incompanies located in emerging and developing countries.Investing outside the U.S. In determining the domicile of an issuer, the fund’s investment adviser will consider thedomicile determination of a leading provider of global indexes, such as Morgan StanleyCapital International, and may also take into account such factors as where the issuer’ssecurities are listed and where the issuer is legally organized, maintains principalcorporate offices, conducts its principal operations and/or generates revenues.Debt instruments The fund may invest up to 5% of its assets in straight debt securities (i.e., debt securitiesthat do not have equity conversion or purchase rights) rated Ba1 or below and BB orbelow by NRSROs, or unrated but determined to be of equivalent quality by the fund'sinvestment adviser.American Funds Insurance Series — Page 7

Capital Income BuilderIncome producing securities The fund invests at least 90% of its assets in income-producing securities.Equity securities The fund invests at least 50% of its assets in equity securities.Debt instruments The fund may invest up to 5% of its assets in straight debt securities (i.e., debt securitiesthat do not have equity conversion or purchase rights) rated Ba1 or below and BB orbelow by Nationally Recognized Statistical Rating Organizations designated by thefund’s investment adviser, or unrated but determined by the fund’s investment adviserto be of equivalent quality. The fund currently intends to look to the ratings fromMoody’s Investors Service, Standard & Poor’s Ratings Services and Fitch Ratings. Ifrating agencies differ, securities will be considered to have received the highest ofthese ratings, consistent with the fund’s investment policies.Investing outside the U.S. The fund may invest up to 50% of its assets in securities of issuers domiciled outside theUnited States. In determining the domicile of an issuer, the fund’s investment adviser will consider thedomicile determination of a leading provider of global indexes, such as Morgan StanleyCapital International, and may also take into account such factors as where the issuer’ssecurities are listed and where the issuer is legally organized, maintains principalcorporate offices, conducts its principal operations and/or generates revenues.Asset Allocation FundGeneral Under normal market conditions, the fund generally invests 40% to 80% of its assets inequity securities; 20% to 50% in debt securities; and 0% to 40% in money marketinstruments and cash.Debt instruments Up to 25% of the fund’s debt assets may be invested in straight debt securities (i.e.,debt securities that do not have equity conversion or purchase rights) rated Ba1 orbelow and BB or below by NRSROs, or unrated but determined to be of equivalentquality by the fund's investment adviser. The fund currently intends to look to theratings from Moody’s Investors Services, Standard & Poor’s Ratings Services and FitchRatings. If rating agencies differ, securities will be considered to have received thehighest of these ratings, consistent with the fund's investment policies.American Funds Insurance Series — Page 8

Investing outside the U.S. The fund may invest up to 15% of its assets in equity securities of issuers domiciledoutside the United States. The fund may invest up to 5% of its assets in debt securities of issuers domiciled outsidethe United States. In determining the domicile of an issuer, the fund’s investment adviser will consider thedomicile determination of a leading provider of global indexes, such as Morgan StanleyCapital International, and may also take into account such factors as where the issuer’ssecurities are listed and where the issuer is legally organized, maintains principalcorporate offices, conducts its principal operations and/or generates revenues.Global Balanced FundEquity securities The fund invests at least 45% of the value of its assets in equity investments.Investing outside the U.S. Under normal market conditions, the fund invests at least 40% of its net assets in issuersdomiciled outside the United States. If market conditions are not deemed favorable bythe fund’s investment adviser, the fund will invest at least 30% of its net assets in issuersdomiciled outside the United States. In determining the domicile of an issuer, the fund’s investment adviser will consider thedomicile determination of a leading provider of global indexes, such as Morgan StanleyCapital International, and may also take into account such factors as where the issuer’ssecurities are listed and where the issuer is legally organized, maintains principalcorporate offices, conducts its principal operations and/or generates revenues.Debt instruments The fund invests at least 30% of the value of its assets in debt securities (includingmoney market instruments). These will consist of investment-grade securities (ratedBaa3 or better or BBB– or better by NRSROs or unrated but determined to be ofequivalent quality by the fund’s investment adviser). The fund currently intends to lookto the ratings from Moody’s Investors Services, Standard & Poor’s Ratings Services andFitch Ratings. If rating agencies differ, securities will be considered to have received thehighest of these ratings, consistent with the fund's investment policies. The fund may also invest up to 5% of its assets in lower quality, higher yielding debtsecurities including those convertible into common stocks (rated Ba1 or below and BB or below by NRSROs or unrated but determined to be of equivalent quality by thefund’s investment adviser).American Funds Insurance Series — Page 9

Bond FundGeneral Normally, the fund invests at least 80% of its assets in bonds and other debt securities.For purposes of this investment guideline, investments may be represented byderivative instruments, such as futures contracts and swap agreements. The fund may invest up to 20% of its assets in preferred stocks, including convertibleand nonconvertible preferred stocks. The fund may not purchase equity securities directly, other than certain convertiblesecurities. The fund may retain up to 5% of its assets in common stock, warrants andrights received in conjunction with, or in exchange for, debt securities.Debt instruments For purposes of the above limits, bonds include any debt instrument includingcorporate bank loans and cash equivalents, and include nonvoting, nonconvertiblepreferred securities. The fund invests at least 35% of its assets in debt securities (including cash and cashequivalents) rated A3 or better or A- or better by NRSROs or in unrated securities thatare determined to be of equivalent quality by the fund’s investment adviser. The fundcurrently intends to look to the ratings from Moody’s Investors Services, Standard &Poor’s Ratings Services and Fitch Ratings. If rating agencies differ, securities will beconsidered to have received the highest of these ratings, consistent with the fund'sinvestment policies. The fund invests at least 65% of its assets in debt securities (including cash and cashequivalents, securities issued and guaranteed by the U.S. and other governments, andsecurities backed by mortgages and other assets) that are rated investment grade(rated Baa3 or better or BBB- or better by NRSROs or in unrated securities that aredetermined to be of equivalent quality by the fund’s investment adviser). The fund may invest up to 35% of its assets in debt securities rated Ba1 or below andBB or below by NRSROs, or unrated but determined to be of equivalent quality by thefund's investment adviser.Investing outside the U.S. The fund may invest up to 20% of its assets in securities denominated in currenciesother than the U.S. dollar. The fund may also invest in bonds of issuers domiciledoutside the U.S. which are denominated in U.S. dollars. In determining the domicile of an issuer, the fund’s investment adviser will consider thedomicile determination of a leading provider of global indexes, such as Morgan StanleyCapital International, and may also take into account such factors as where the issuer’ssecurities are listed and where the issuer is legally organized, maintains principalcorporate offices, conducts its principal operations and/or generates revenues.American Funds Insurance Series — Page 10

Corporate Bond FundDebt instruments Normally, the fund invests at least 80% of its assets in corporate debt securities. Forpurposes of this limit, corporate debt securities include any corporate debt instrument,including, but not limited to, bank loans, covered bonds, hybrids (securities with equityand debt characteristics), certain preferred securities and commercial paper and othercash equivalents. The fund invests at least 90% of its assets in debt securities, including money marketinstruments, cash and cash equivalents, rated Baa3 or better or BBB- or better byNRSROs designated by the fund’s investment adviser or unrated but determined to beof equivalent quality by the fund’s investment adviser at time of purchase. The fundcurrently intends to look to the ratings from Moody’s Investors Services, Standard &Poor’s Ratings Services and Fitch Ratings. If rating agencies differ, securities will beconsidered to have received the highest of these ratings, consistent with the fund’sinvestment policies. The fund may invest in debt securities guaranteed or sponsored bythe U.S. government without regard to the quality rating assigned to the U.S.government by a NRSRO.Investing outside the U.S. In determining the domicile of an issuer, the fund’s investment adviser will consider thedomicile determination of a leading provider of global indexes, such as Morgan StanleyCapital International, and may also take into account such factors as where the issuer’ssecurities are listed and where the issuer is legally organized, maintains principalcorporate offices, conducts its principal operations and/or generates revenues.Capital World Bond FundDebt instruments The fund invests at least 80% of its assets in bonds and other debt instruments,including cash equivalents and certain preferred securities. For purposes of thisinvestment guideline, investments may be represented by derivative instruments, suchas futures contracts and swap agreements. Normally, the fund invests substantially in debt securities rated Baa3 or better or BBBor better (by Nationally Recognized Statistical Rating Organizations designated by thefund’s investment adviser) or unrated but determined by the fund’s investment adviserto be of equivalent quality. The fund currently intends to look to the ratings fromMoody’s Investors Service, Standard & Poor’s Ratings Services and Fitch Ratings. Ifrating agencies differ, securities will be considered to have received the highest ofthese ratings, consistent with the fund's investment policies. The fund may invest up to 25% of its assets in debt securities rated Ba1 or below andBB or below (by Nationally Recognized Statistical Rating Organizations designated bythe fund’s investment adviser) or unrated but determined by the fund’s investmentadviser to be of equivalent quality.American Funds Insurance Series — Page 11

Investing outside the U.S. In determining the domicile of an issuer, the fund’s investment adviser will consider thedomicile determination of a leading provider of global indexes, such as Morgan StanleyCapital International, and may also take into account such factors as where the issuer’ssecurities are listed and where the issuer is legally organized, maintains principalcorporate offices, conducts its principal operations and/or generates revenues.High-Income Bond FundDebt instruments Normally, the fund invests at least 80% of its assets in bonds. For purposes of this limit,bonds include any debt instrument including corporate bank loans and cashequivalents, and may include certain preferred securities. For purposes of thisinvestment guideline, investments may be represented by derivative instruments, suchas futures contracts and swap agreements. The fund invests at least 65% of its assets in debt securities rated Ba1 or below or BB or below by NRSROs or in unrated securities that are determined to be of equivalentquality by the fund’s investment adviser. The fund currently intends to look to theratings from Moody’s Investors Services, Standard & Poor’s Ratings Services and FitchRatings. If rating agencies differ

American Funds Insurance Series — Page 6 Investing outside the U.S. The fund may invest up to 10% of assets in equity securities of larger non-U.S. companies so long as they are listed or traded in the United States. In determining the domicile of an issuer, the fund's investment adviser will consider the domicile determination of a leading provider of global indexes, such as .