American Freedom Liberty 8 MVA
Status:
Active
Group:
Great American
Product Type:
Indexed Annuity
Product Status:
Carrier Review
Version:
0
Inception Date:
September 08, 2014
Closed Date:
July 21, 2020
Last Modified:
July 01, 2021 21:08
Description:
The American Freedom Liberty 8 MVA is a flexible premium deferred index annuity with a market value adjustment. The minimum single premium is $25,000 for qualified and non-qualified money. Additional contributions can be made for at least $2,000 during the first contract year only. During the first contract year, 10% of purchase payments may be withdrawn without an early withdrawal charge. After the first contract year, 10% of the sum of the account value as of the most recent contract anniversary and all purchase payments received since the most recent contract anniversary may be withdrawn without an early withdrawal charge. Systematic Withdrawal is an option. Surrender charges are eight years in duration (9,8,7,6,5,4,3,2) and are waived in the event of annuitization, death, entrance into a nursing home, or diagnosis of a terminal illness. 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:
403 (b), Non-Qualified, IRA, SEP IRA, Others, 401 (a)
Premium Types:
Flexible
States Available:
AL, AK, AZ, AR, CO, CT, DE, FL, GA, HI, ID, IL, IND, IA, KS, KY, LA, MZ, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, ORG, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, DC
States Exception:
Version Note:
Scrap Book:
Death benefits
| Name | Internal name | Sequence | Inception date |
|---|---|---|---|
| Basic Death Benefit | Basic Death Benefit | 1 | 08 Sep 2014 |