CUSIP Number:
38983T818
CUSIP Name:
6 Year Annuity
Product Policy Type:
Fixed Annuity
Inception Date:
Close Date:
CUSIP Note:
Scrap Book:
The American Freedom Classic 3 is a single premium deferred annuity with a market value adjustment (state availability may vary). The initial minimum contribution is $10,000 qualified and non-qualified. During the first contract year, 10% of the purchase payment may be withdrawn. After the first contract anniversary, 10% of the account value as of the most recent contract anniversary may be withdrawn. Systematic withdrawals are also an option. Surrender charges are six years in duration (8,8,7,6,5,4) and are waived in the event of annuitization of five years or more, death, entrance into a nursing home, hospital, or long-term care facility, or diagnosis of a terminal illness. There is a 30 day period after contract year three in which early withdrawal charges and MVAs are waived for full surrenders. Withdrawals may be subject to Federal/State income tax, and if taken prior to age 59 1/2, a 10% Federal Penalty tax. 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 securities or bank products protected by the FDIC.
Last Modified:
31 Jul 2023 13:26