American Freedom Classic 3

Issue Ages

Inherited non-qualified 0-75Inherited IRA 0-75Qualified 0-90Non-qualified 0-90

Tax Qualifications

Non-qualifiedQualifiedInherited non-qualified403(b) (Traditional and Roth)IRA (Traditional, Roth, SEP, SIMPLE and Inherited)457(b)

Purchase Payments

Issued with single purchase paymentSubsequent allowed 60 days from issue only; Minimum: $2,000

Purchase Payment Minimums and Maximums

Minimum:

$25,000

Subsequent:

$2,000

Maximum:

$1 million for ages 0-85
$500,000 for ages 86+

Early Withdrawal Charges

3-year declining 8%, 8%, 7%

Market Value Adjustment

During each initial or renewal term, an MVA will apply if the contract is surrendered or a withdrawal above the free withdrawal allowance is taken.

Free Withdrawal Allowance

During the first contract year, 10% of purchase payments may be withdrawn without an early withdrawal charge or market value adjustment.After the first contract year, 10% of the account value as of the most recent contract anniversary may be withdrawn without an early withdrawal charge or market value adjustment.

Waivers

Terminal Illness WaiverExtended Care Waiver

Account Value

The account value is equal to 100% of the purchase payment received, plus interest credited, less any amounts withdrawn, including any market value adjustment or early withdrawal charges deducted from those amounts, less any applicable premium taxes and other taxes required by your state.

Surrender Value

Equals the greater of the account value adjusted for any MVA and less any early withdrawal changes or the guaranteed minimum surrender value.

Guaranteed Minimum Surrender Value (GMSV)

The GMSV equals 87.5% of purchase payments minus all prior withdrawals (not including early withdrawal charges or negative MVAs) plus interest credited daily at the GMSV rate. The GMSV will not be less than the minimum values required by the NAIC Standard Nonforfeiture Law for Individual Deferred Annuities, model #805, and the GMSV rate will not be less than the minimum rate required by each state.

Payout Options

Fixed period payoutLife payoutLife payout with payments for at least a fixed periodJoint and one-half survivor payout

Death Benefit Value

The greater of the account value or GMSV will be paid upon the death of the owner.

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