American Freedom Liberty 7 Non-MVA CA (Wells Fargo)
Status:
Active
Group:
Great American
Product Type:
Indexed Annuity
Product Status:
Approved
Version:
0
Inception Date:
July 07, 2021
Closed Date:
Last Modified:
March 09, 2026 10:23
Description:
The American Freedom Liberty 7 Non-MVA CA (Wells Fargo) is a Modified premium deferred index annuity. The minimum initial premium is $25,000 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 Additional contributions can be made for $2,000 or more. 10% of the purchase payment may be withdrawn during the first policy year and 10% of the account value as of the prior anniversary plus any purchase payments received since may be withdrawn after the first policy year without a surrender charge.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, annuitization, 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 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.
Fee Based:
No
Free Look:
Yes
Plan Types:
403 (b), Non-Qualified, IRA, SEP IRA, Others, 401 (a)
Premium Types:
Limited Flexible
States Available:
CA
States Exception:
Version Note:
Scrap Book:
Death benefits
| Name | Internal name | Sequence | Inception date |
|---|---|---|---|
| Basic Death Benefit | Basic Death Benefit | 1 | 07 Jul 2021 |
| Inheritance Enhancer Death Benefit | Inheritance Enhancer Death Benefit | 2 | 07 Jul 2021 |
Riders
| Name | Rider type | Internal name | Sequence | Inception date |
|---|---|---|---|---|
| Income Ascender | GLWB | Income Ascender | 05 Jan 2026 | |
| IncomeSecure Rider | GLWB | IncomeSecure Rider | 07 Jul 2021 |