American Annuity
Status:
Active
Group:
Product Type:
Fixed Annuity
Product Status:
Draft
Version:
0
Inception Date:
May 27, 1998
Closed Date:
May 31, 2001
Last Modified:
February 25, 2025 00:00
Description:
The American Annuity is a Standard Flexible Premium Deferred Annuity. The minimum initial contribution is $5,000. Additional contributions can be made at any time for $2,000 or more (for qualified plans the maximum allowable contribution in any contract year is $2,000). After contract year one, interest only withdrawals can be taken so long as the accumulated value is not less than $25,000. A systematic withdrawal option is available on an semi-annual or annual basis. Surrender charges are six years in length and are waived in the event of an annuitization or death.
Fee Based:
No
Free Look:
Yes
Plan Types:
HR-10 (Keogh), Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, Others
Premium Types:
Flexible
States Available:
AL, AR, AZ, CA, CO, DC, DE, GA, IA, ID, IL, KS, KY, IN, LA, MD, MI, MO, MS, MT, ND, NE, NM, NV, OH, OK, SD, TN, TX, UT, VA, WV, WY
States Exception:
AK, BERMUDA, CT, FL, GU, HI, MA, ME, MN, NC, NH, NJ, NY, OR, PA, PR, RI, SC, VI, VT, WA, WI
Version Note:
Scrap Book: