CUSIP Number:
95884N373
CUSIP Name:
First Choice 5 No MVA No GROP
Product Policy Type:
Fixed Annuity
Inception Date:
01 Mar 2018
Close Date:
CUSIP Note:
Scrap Book:
The American General First Choice 5 is a single premium deferred fixed annuity. The minimum premium is $25,000 for qualified and non-qualified funds. After the first year, the owner may take multiple free withdrawals annually not exceeding a total of 10% of previous anniversary contract value. Systematic withdrawals are also an option. Surrender charges are five years in length (7,7,6,4,2) and are waived in the event of annuitization, death, entrance into a nursing home or hospital, 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.
Last Modified:
02 Jul 2025 23:21