American Freedom Aspire 3
Status:
Active
Group:
Great American
Product Type:
Fixed Annuity
Product Status:
Approved
Version:
0
Inception Date:
April 10, 2023
Closed Date:
Last Modified:
Description:
The American Freedom Aspire 3 is a modified single premium deferred annuity. The minimum single premium is $2,000 for qualified and non-qualified money. Available 10% of the purchase payment, during the first contract anniversary and thereafter 10% of the account value as of the most recent contract anniversary, in any subsequent contract year, without any surrender charges. Surrender charges are 3 years in duration and are waived in the event of death, entrance into an extended care, or diagnosis of a terminal illness. There is a return of premium guarantee available at the beginning of second contract anniversary included at no additional charge. The Guaranteed minimum surrender value is 87.5% with 2.4% (2.45% in WA) as minimum interest rate. 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
Fee Based:
No
Free Look:
Yes
Plan Types:
403 (b), Non-Qualified, IRA, SEP IRA, Others, 401 (a)
Premium Types:
Limited Flexible
States Available:
AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, KS, KY, IN, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
States Exception:
BERMUDA, GU, NY, PR, VI
Version Note:
Scrap Book: