CUSIP Number:
95884P659
CUSIP Name:
7 Year Annuity (Non-MVA)
Product Policy Type:
Fixed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The American Pathway Fixed 7 Annuity is a single premium deferred fixed annuity without a market value adjustment. The minimum premium is $2,000 for qualified funds and $5,000 for non-qualified funds. After 30 days, there is an annual withdrawal of up to 15% available of the last anniversary's account value, cumulative to 20%. Systematic withdrawals are also an option. Surrender charges are seven years in length (9,8,7,6,5,4,2) and are waived in the event of annuitization, death, entrance into a nursing home or hospital, or diagnosis of a terminal illness. There is an optional return of premium 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 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:
31 Jul 2023 10:35