AIG Flex 5
Status:
Active
Group:
Company:
AIG Annuity Insurance Company
Product Type:
Indexed Annuity
Product Status:
Draft
Version:
0
Inception Date:
December 30, 1899
Closed Date:
March 26, 2007
Last Modified:
March 18, 2019 13:24
Description:
The AIG Flex 5 is a flexible premium deferred fixed annuity. The minimum premium is $2,000 for qualified funds and $5,000 for non-qualified funds. Additional contributions can be made for a minimum of $2,000. After 30 days, there is an annual withdrawal of up to 15% available of the last anniversary's account value, cumulative to 20%. Systematic withdrawals are also an option. Surrender charges are five years in length (9,8,7,6,5) and are waived in the event of annuitization, death, entrance into a nursing home or hospital, or if the owner is unable to perform certain activities of daily living. The IncomEdge Select lifetime withdrawal benefit is available anytime after age 65 and guarantees annual withdrawals of up to 5% of the total guaranteed amount available for withdrawal under the rider (referred to as the âIncome Baseâ). Certain fees apply. Withdrawals and taxable distributions may be subject to ordinary income tax and if made prior to age 59 1/2, may also be subject to a 10% federal income tax penalty. Early surrender charges may also apply. Guarantees based on claims paying ability of insurer. Products / features may not be available in all states. This is an annuity contract issued by an insurance company and not a bank product protected by the FDIC.
Fee Based:
No
Free Look:
Yes
Plan Types:
457 (b), 401 (k), HR-10 (Keogh), 403 (b), Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, Spousal IRA, Others, 401 (a)
Premium Types:
Flexible
States Available:
AK, AL, AR, AS, AZ, BERMUDA, CA, CO, CT, DC, DE, FL, GA, GU, HI, IA, ID, IL, IND, KS, KY, LA, MA, MD, MI, MN, MO, MS, MT, MZ, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, ORG, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
States Exception:
Version Note:
Scrap Book:
Death benefits
| Name | Internal name | Sequence | Inception date |
|---|---|---|---|
| Basic Death Benefit | Basic Death Benefit | 1 | 01 Jun 1995 |