American Select 10

American Life & Security Corp.
American Select 10-brochure American Select 10-brochure

American Select 10

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Ratings:

  • A.M. Best B++

About Product

Type
Fixed Index
Purpose
Accumulation
Term
10 Years
Surrender schedule
9%8.1%7.2%6.3%5.4%4.5%3.6%2.7%1.8%0.9%
Fee withdrawal:
10%
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$20,000
Maximum Contribution
$1,000,000
Max Age Qualified
85
Types Of Funds
Non-Qualified, 401k, IRA, Pension, IRA Rollover, 401a, IRA Transfer, TSA 403b, SEP IRA, IRA-Roth, SIMPLE IRA, 457 plan, and 1035 Exchange
Launch Date
10/07/2019
American Select is a Modified Single Premium Deferred Individual Annuity Contract with Index-Linked Options. 
Available in states: AZ, CO, DC, FL, GA, HI, ID, IL, IN, IA, KS, LA, MI, MO, MT, NE, NV, NM, ND, OH, OK, OR, SD, TX, and UT

Allocation Accounts

Name Type Rates
1-Year Fixed Account
Fixed
5% Fixed
1-Year S&P 500 PTP Cap
Point to Point
Annual
11% Cap
1-Year S&P 500 PTP Participation Rate
Point to Point
Annual
50% Participation
1-Year S&P MARC 5% ER PTP Participation Rate
Point to Point
Annual
150% Participation
2-Year Janus SG Guidance Index Value Lock PTP Participation Rate
Point to Point
Biennial
115% Participation
1-Year S&P 500 ESG PTP Cap
Point to Point
Annual
7.25% Cap
1-Year S&P 500 ESG PTP Participation Rate
Point to Point
Annual
50% Participation
1-Year GS Xenith PTP Participation Rate
Point to Point
Annual
200% Participation
2-Year GS Xenith PTP Participation Rate
Point to Point
Biennial
275% Participation

Surrender schedule

Year 1 2 3 4 5 6 7 8 9 10
Penalty 9% 8% 7% 6% 5% 5% 4% 3% 2% 1%

Riders

No Riders for American Select 10 annuity.

Waivers

Annuitization

After the fifth Contract Anniversary, no Surrender Charge will be applied to a withdrawal or surrender that is applied to an Annuitization with a payout of at least 5 years. MVA will still apply. For the Bonus and Bonus Plus plans, only the portion of the Enhanced Interest Credit that has vested, and any interest accured on the vested portion, will be included in the Contract Value applied to Annuitization.

Withdrawal Provisions

Liquidity
Beginning in the first contract year, during the Surrender Charge Period, We will waive any Surrender Charge and Market Value Adjustment on Partial Withdrawals or Surrenders in a contract year up to a cumulative amount that does not exceed the greater of:
  • 10% of the Contract Value as of the last Contract Anniversary date; or 
  • The Required Minimum Distribution, as calculated under the Internal Revenue Code, as if the Contract were the only assets in Your Traditional IRA Program. 
If a Partial Withdrawal or full Surrender exceeds the above limitation, the Surrender Charge and the Market Value Adjustment will apply to the excess amount. 

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