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American Freedom Aspire 3

American Freedom Aspire 3

Offer clients safety and predictable growth with American Freedom Aspire 3. This fixed annuity offers a competitive rate guaranteed over a three-year period, and a return of premium. For a complete product description, see the Product Overview in the Marketing Materials section.

Details

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: 7%, 7%, 7%

Free Withdrawal Allowance

After the first contract year, 10% of the account value as of the most recent contract anniversary may be withdrawn without an early withdrawal charge.During the first contract year, 10% of the purchase payment may be withdrawn without an early withdrawal charge.

Waivers

Terminal Illness WaiverExtended Care Waiver

Account Value

The account value is equal to 100% of the purchase payments, plus interest credited, less any amounts previously withdrawn and charges applied to those amounts, and less premium taxes or other taxes paid, if any.

Surrender Value

The surrender value is equal to the greatest of the account value, minus any early withdrawal charges, the return of premium (ROP) or the guaranteed minimum surrender value (GMSV).

Guaranteed Minimum Surrender Value (GMSV)

87.5% of purchase payments minus all prior withdrawals (not including early withdrawal charges) plus interest credited daily at the GMSV rate.

Return of Premium

Return of premium value is the sum of all purchase payments, less all withdrawals (but not including amounts applied to pay early withdrawal charges), and premium tax or other taxes not previously deducted. Available on or after the second contract anniversary. Included at no extra charge.

Payout Options

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

Death Benefit Value

The greatest of the account value, GMSV or return of premium will be paid upon the death of the owner.

Marketing Materials

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