CUSIP Number:
38983T636
CUSIP Name:
Non-MVA Annuity
Product Policy Type:
Indexed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The American Legend 7 is a Modified premium deferred index annuity with a market value adjustment. The minimum single premium is $10,000 for qualified and non-qualified money. Additional contributions can be made for $2,000 or more. 10% of the purchase payment may be withdrawn during the first policy year and 10% of the account value as of the prior anniversary plus any purchase payments received since may be withdrawn after the first policy year without a surrender charge. Systematic Withdrawal is an option. Surrender charges are 7 years in duration and are waived in the event of death, entrance into a nursing home, or diagnosis of a terminal illness. There is one optional guaranteed withdrawal benefit riders with additional charge. There is also an optional guaranteed death benefit rider available. 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 the claims-paying ability of the 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.
Last Modified:
19 Feb 2026 11:39