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American Freedom Elevate 3

American Freedom Elevate 3

Offer clients safety and predictable growth with American Freedom Elevate 3. This fixed annuity offers a guaranteed rate during the three-year term. This product accepts single purchase payments. For a complete product description, see the Product Overview in the Marketing Materials section.

Rates

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 premium

Purchase Payment Minimums and Maximums

Minimum:

$10,000

Maximum:

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

Early Withdrawal Charges

3-year declining 9%, 8%, 7%

Market Value Adjustment

During the initial three-year term and any renewal term, a market value adjustment will apply to withdrawals or surrenders.

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After the first contract year, 10% of the account value as of the most recent contract anniversary may be withdrawn without an early withdrawal charge or market value adjustment.During the first contract year, 10% of the purchase payment may be withdrawn without an early withdrawal charge or market value adjustment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The account value is equal to 100% of the purchase payment received, plus interest credited, less any amounts withdrawn, including any market value adjustment or early withdrawal charges deducted from those amounts, less any applicable premium taxes and other taxes required by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)

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

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.

Marketing Materials

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