Ages Issue ages
Maximum issue age 85 owner and annuitant (age restrictions apply to both owners if jointly owned). Minimum owner issue age is 18, or if earlier, the age of majority as defined by law in state of issue. When income must begin: • Nonqualified annuities: By age 95, otherwise the contract must be surrendered. • Tax-qualified annuities: Generally by April 1 of the year after the annuitant reaches age 73 unless Required Minimum Distribution (RMD) requirements are being satisfied elsewhere. Income can be taken by annuitization of the contract or by partial withdrawals. However, the contract must be annuitized or surrendered no later than age 95.
Maximum annuity age
Ownership
• Single, joint; nonqualified, IRA, SEP IRA and Roth IRA • Nonqualified purchases by non-natural entities require prior company approval
Market value adjustment (MVA)
A market value adjustment applies during the initial rate term only. After the initial rate term, the MVA no longer applies, but the withdrawal charge continues for 10 years. The MVA is an adjustment that can either increase or decrease the withdrawal amount depending on the current interest rate environment. When interest rates at the time of withdrawal are higher than the level at the time the contract is issued, the MVA will result in a decrease. If interest rates are down, the MVA will increase the withdrawal amount. Should an MVA decrease apply, the amount charged will not result in your receiving less than the minimum withdrawal value as defined in your contract. MVA does not apply to withdrawals representing penalty-free withdrawal amounts, RMDs, annuitization or death benefit. An external index referenced in your contract is used to measure rates. After one year from the contract date, you may take multiple penalty-free withdrawals (without charges or MVA) each year not exceeding 15% of the previous anniversary contract value. Also, there is a 30-day window at the end of the initial interest rate guarantee period during which no withdrawal charge or market value adjustment will be imposed on a full or partial withdrawal. After the 30-day window expires, withdrawal charges will resume for any withdrawal in excess of penalty-free amounts through the 10th year. Additionally, RMDs which are based solely on this contract may be taken at any time after contract issue without charges or MVA. 1) Systematic withdrawals are allowed at any time after contract issue by making a written election 2 2) $100 minimum amount 2 monthly, quarterly, semiannually or annually 3) Systematic withdrawals may be subject to withdrawal charges $250 minimum amount. AGL reserves the right to pay the entire withdrawal value and terminate the contract if a withdrawal reduces the contract value to less than $2,000. AGL will make all necessary calculations to ensure IRS Required Minimum Distributions (RMD) based on the contract may be made, unless the contract owner requests otherwise.
Withdrawals Penalty-free withdrawal privilege
Systematic withdrawals
Partial withdrawal
Tax-qualified distributions
2 By company practice, which is subject to change.
2
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