American Legend 7 features
ISSUE AGES
Qualified: 0–85 Non-qualified: 0–85 Inherited IRA: 0–75
Inherited non-qualified : 0–75 Issue ages may vary by state.
PURCHASE PAYMENTS
You can purchase this annuity with an initial purchase payment of $10,000 or more. You can add to your annuity at any time with additional purchase payments of at least $2,000.
FEES
There are no upfront charges. All your money goes to work for you.
INTEREST STRATEGIES
• Declared rate • S&P 500 ® 1-year point-to-point with cap • S&P 500 ® 7-year cap lock annual point-to-point • S&P 500 Risk Control 1-year point-to-point with participation rate
• iShares U.S. Real Estate 1-year point-to-point with cap Available strategies may vary by state and by distribution.
TERM
• The seven-year cap lock strategy has a seven-year term. The cap is locked in for the entire seven-year term. This strategy may only be selected during the first contract year. • All other strategies have a one-year term. • With all indexed strategies, interest is credited annually on the last day of each term year. • You can change your strategy allocations at the end of each one- or seven-year term. Funds held in the seven-year strategy will automatically reallocate to the S&P 500 ® 1-year strategy, unless you elect otherwise. During the first contract year, you may withdraw up to 10% of your purchase payments. After the first contract year, 10% of the account value on the most recent contract anniversary may be withdrawn. Amounts withdrawn in excess of the penalty-free withdrawal allowance may be subject to early withdrawal charges and a market value adjustment. During the first seven contract years, an early withdrawal charge starting at 9% is applied to surrenders and withdrawals that exceed the 10% penalty-free amount. All charges end after seven years.
PENALTY-FREE WITHDRAWALS
EARLY WITHDRAWAL CHARGES
Contract year
1 2 3 4 5 6 7 8+ 9% 8% 7% 6% 5% 4% 3% 0%
Early withdrawal charge
12
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