AssetShield 9 (CA Only)
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Highlights
AssetShield 9 (California) is a Flexible Premium Deferred Annuity designed to help protect hard-earned dollars from index fluctuations while offering interest growth opportunities based on increases in an index.
Premium Allocations
The initial premium payment can be allocated, in any combination, to either the fixed interest or any of the index strategies. Payments received after the initial premium automatically go into the fixed interest strategy. Contract Values may be reallocated on the contract anniversary between strategies subject to these minimums:
Premium Allocations
The initial premium payment can be allocated, in any combination, to either the fixed interest or any of the index strategies. Payments received after the initial premium automatically go into the fixed interest strategy. Contract Values may be reallocated on the contract anniversary between strategies subject to these minimums:
- The minimum allocation for each value is $1,000.
- The minimum transfer to select a new value is 10% of the Contract Value.
- For the 2-year point to point, Contract Values can be reallocated at the end of a two-year term.
Rider Charge - Account Fee
The rider charge is the amount deducted on the last day of each indexed strategy term from each indexed strategy to which the rider is applied. To calculate the rider charge, the rider fee (1.5% for monthly and annual point-to-point strategies and 3% for 2-year point to point strategies) is multiplied by the strategy value of the corresponding indexed strategy on the first day of each term. The rider fee will not change during the surrender charge period and will never be more than the maximum rider fee of 3%.
Please take note that the fee shown for the 2-year enhanced Indexed Crediting Strategies is applied every single year, which is 1.5% annually. Therefore, that is a biennial fee of 3.00% for the whole term as declared in the interest rates (Product fact sheets).
The rider charge is the amount deducted on the last day of each indexed strategy term from each indexed strategy to which the rider is applied. To calculate the rider charge, the rider fee (1.5% for monthly and annual point-to-point strategies and 3% for 2-year point to point strategies) is multiplied by the strategy value of the corresponding indexed strategy on the first day of each term. The rider fee will not change during the surrender charge period and will never be more than the maximum rider fee of 3%.
Please take note that the fee shown for the 2-year enhanced Indexed Crediting Strategies is applied every single year, which is 1.5% annually. Therefore, that is a biennial fee of 3.00% for the whole term as declared in the interest rates (Product fact sheets).
Available in states:
CA
|
Type
|
Fixed Index |
|---|---|
| Purpose | Accumulation |
|
Term
|
9 Years |
|
Surrender schedule
|
8%8%7%6%5%4%3%2%1% |
|
Free withdrawal
|
1st year: 0% 2nd+ year: 10% |
| Flexible premium | Product Life |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Launch date
|
10/09/2018 |
|
Minimum contribution
|
$5,000 |
|
Maximum contribution
|
$1,500,000 |
|
Max Age Qualified
|
80 |
|
Types of funds
|
Non-Qualified, IRA, IRA Rollover, IRA Transfer, SEP IRA, IRA-Roth, 1035 Exchange, Inherited IRA, NQ Stretch, and TSP |
Brochure
|
Open brochure |
Find out if the AssetShield 9 (CA Only) is the right product for you.
Premium Notes
Minimum Premium:
- $5,000
Maximum Premium:
- 18-69: $1,500,000
- 70-74: $1,000,000
- 75-80: $750,000
Contract owners must choose how to allocate the initial premium. Additional premium payments can be made subject to our approval. Additional premiums are automatically allocated to the Fixed Interest Strategy and may be subject to different rates. The contract values may be reallocated between strategies on the contract anniversary, subject to a minimum allocation value of $1,000 each.
Additional premium payments can be added either lump sum or systematic whenever.
Note: TSP funds have to be rolled into an IRA.
Additional premium payments can be added either lump sum or systematic whenever.
Note: TSP funds have to be rolled into an IRA.
Withdrawal Provisions
Market Value Adjustment (MVA)
This product contains a Market Value Adjustment (MVA) Rider. An MVA may increase or decrease the amount of a withdrawal in excess of the Free Withdrawal amount or the Surrender Value. The MVA does not apply to Free Withdrawals, any Death Benefit, the MGSV, or any distributions occurring after the Surrender Charge Period has ended. In general, as the MVA Index increases, Cash Surrender Values decrease. As the MVA Index decreases, Cash Surrender Values increase.
Free Withdrawals
This is an opportunity each year (after the first contract year) to take Free Withdrawals up to 10% of the Contract Value. For Cumulative withdrawals, American Equity allows 10% of the contract value after the 1st contract year. The free withdrawal percentage is never more than 10%.
Systematic Withdrawal of interest only from the Fixed Value, available after 30 days.
Death Benefit
The greater of the Contract Value or the Minimum Guaranteed Surrender Value. Death Benefit proceeds are paid to the surviving joint owner. If there is no surviving joint owner, the Death Benefit is paid to the named beneficiary(ies) with no Surrender Charges. Generally paid in the lump-sum, other payment options are also available.
This product contains a Market Value Adjustment (MVA) Rider. An MVA may increase or decrease the amount of a withdrawal in excess of the Free Withdrawal amount or the Surrender Value. The MVA does not apply to Free Withdrawals, any Death Benefit, the MGSV, or any distributions occurring after the Surrender Charge Period has ended. In general, as the MVA Index increases, Cash Surrender Values decrease. As the MVA Index decreases, Cash Surrender Values increase.
Free Withdrawals
This is an opportunity each year (after the first contract year) to take Free Withdrawals up to 10% of the Contract Value. For Cumulative withdrawals, American Equity allows 10% of the contract value after the 1st contract year. The free withdrawal percentage is never more than 10%.
Systematic Withdrawal of interest only from the Fixed Value, available after 30 days.
Death Benefit
The greater of the Contract Value or the Minimum Guaranteed Surrender Value. Death Benefit proceeds are paid to the surviving joint owner. If there is no surviving joint owner, the Death Benefit is paid to the named beneficiary(ies) with no Surrender Charges. Generally paid in the lump-sum, other payment options are also available.
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year S&P 500 PTP NeXt Monthly Sum Replacement Rate |
NeXt
Annual
Monthly sum
|
0.1%
Cap
|
| 1-Year S&P 500 PTP NeXt Monthly Sum Replacement Rate |
NeXt
Annual
Monthly sum
|
1.2%
Cap
|
| 1-Year Fixed Account |
Fixed
|
4%
Fixed
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
60%
Participation
|
| 2-Year BlackRock Adaptive U.S. Equity 7% PTP Participation Rate |
Point to Point
Biennial
|
295%
Participation
|
| 2-Year BlackRock Adaptive U.S. Equity 7% PTP Participation Rate |
Point to Point
Biennial
|
205%
Participation
|
| 1-Year BlackRock Adaptive U.S. Equity 7% PTP Participation Rate |
Point to Point
Annual
|
200%
Participation
|
| 1-Year BlackRock Adaptive U.S. Equity 7% PTP Participation Rate |
Point to Point
Annual
|
140%
Participation
|
| 1-Year SG Global Sentiment PTP Participation Rate |
Point to Point
Annual
|
260%
Participation
|
| 1-Year SG Global Sentiment PTP Participation Rate |
Point to Point
Annual
|
175%
Participation
|
| 1-Year S&P 500 Dividend Aristocrats DRC 5% ER PTP Participation Rate |
Point to Point
Annual
|
270%
Participation
|
| 1-Year UBS Tech Edge PTP Participation Rate |
Point to Point
Annual
|
270%
Participation
|
| 1-Year UBS Tech Edge PTP Participation Rate |
Point to Point
Annual
|
185%
Participation
|
| 1-Year BofA Destinations PTP Participation Rate |
Point to Point
Annual
|
180%
Participation
|
| 1-Year BofA Destinations PTP Participation Rate |
Point to Point
Annual
|
255%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
3.7%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
10.5%
Cap
|
| 2-Year S&P 500 Dividend Aristocrats DRC 5% ER PTP Participation Rate |
Point to Point
Biennial
|
385%
Participation
|
| 2-Year UBS Tech Edge PTP Participation Rate |
Point to Point
Biennial
|
410%
Participation
|
| 2-Year UBS Tech Edge PTP Participation Rate |
Point to Point
Biennial
|
280%
Participation
|
| 2-Year SG Global Sentiment PTP Participation Rate |
Point to Point
Biennial
|
375%
Participation
|
| 2-Year SG Global Sentiment PTP Participation Rate |
Point to Point
Biennial
|
255%
Participation
|
| 2-Year BofA Destinations PTP Participation Rate |
Point to Point
Biennial
|
390%
Participation
|
| 2-Year BofA Destinations PTP Participation Rate |
Point to Point
Biennial
|
265%
Participation
|
| 2-Year S&P 500 Dividend Aristocrats DRC 5% ER PTP Participation Rate |
Point to Point
Biennial
|
260%
Participation
|
| 1-Year S&P 500 Dividend Aristocrats DRC 5% ER PTP Participation Rate |
Point to Point
Annual
|
185%
Participation
|
| 1-Year S&P 500 PTP Participation Rate |
Point to Point
Annual
|
40%
Participation
|
| 1-Year S&P 500 PTP Monthly Sum Cap |
Point to Point
Annual
Monthly sum
|
2.6%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.5%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 |
|---|---|---|---|---|---|---|---|---|---|
| Penalty | 8% | 8% | 7% | 6% | 5% | 4% | 3% | 2% | 1% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| Rate Integrity Rider | Yes |
Waivers
Death
The Death Benefit is paid with no Surrender Charges.
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