American Pathway NY Fixed 5
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Learn how an annuity can provide guaranteed income for life.
These single-premium, tax-deferred fixed annuities provide the safety of principal, a guaranteed interest rate, and can provide an income stream for life. It’s designed for long-term financial goals, and offers a conservative addition to your retirement savings.
Penalty-Free Withdrawal
Privilege After 30 days from the contract date, you may take multiple penalty-free withdrawals (without charges) each year not exceeding in total the greater of (1) the accumulated interest earned or (2) up to 15% of the previous anniversary contract value. If you do not use all of the 15% withdrawal percentage in a contract year, you may carry over the unused portion (up to 5%) to the next contract year increasing the annual withdrawal to 20% of the anniversary contract value (or the accumulated interest if greater).
Systematic Withdrawals
Penalty-Free Withdrawal
Privilege After 30 days from the contract date, you may take multiple penalty-free withdrawals (without charges) each year not exceeding in total the greater of (1) the accumulated interest earned or (2) up to 15% of the previous anniversary contract value. If you do not use all of the 15% withdrawal percentage in a contract year, you may carry over the unused portion (up to 5%) to the next contract year increasing the annual withdrawal to 20% of the anniversary contract value (or the accumulated interest if greater).
Systematic Withdrawals
- Systematic withdrawals are allowed after 30 days by making a written election
- $100 minimum amount monthly, quarterly, semiannually or annually
- Systematic withdrawals may be subject to withdrawal charges if they exceed penalty-free withdrawal amounts
Random Withdrawal
$250 minimum amount. US Life 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.
More flexibility with optional return-of-premium guarantee
Both the American Pathway Fixed 5 and Fixed 7 annuities offer an optional return-of-premium guarantee at the time of purchase. Adding this feature will slightly lower your initial interest rate. With the return-of-premium guarantee option, if you cancel the annuity contract, you will always receive the greater of:
$250 minimum amount. US Life 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.
More flexibility with optional return-of-premium guarantee
Both the American Pathway Fixed 5 and Fixed 7 annuities offer an optional return-of-premium guarantee at the time of purchase. Adding this feature will slightly lower your initial interest rate. With the return-of-premium guarantee option, if you cancel the annuity contract, you will always receive the greater of:
- Your single premium, less prior net withdrawals
- The withdrawal value (contract value minus applicable withdrawal charges)
Note: TSP funds have to be rolled into an IRA.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 5 years | 3% |
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 5 | 4.45% | 3.59% | 4.75% |
| 5 | 4.9% | 4.14% | 4.9% |