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American Select 7 Bonus

The American Select 7 Bonus annuity offers a secure, predictable income for your golden years. With this product, never fret about outliving your savings! Stand out features include a generous 7% bonus feature to give your retirement fund a boost.

Let's not forget the flexibility it offers; you have the freedom to decide when and how you want your income. With American Select 7 Bonus, retirement is a smooth, worry-free journey. So settle back and enjoy the fruits of your labor with confidence.

American Select 7 Bonus

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About Product

Type

Fixed Index

Purpose

Accumulation

Premium Bonus

10%

Term

7 Years

Surrender schedule

8.1%

7.2%

6.3%

5.4%

4.5%

3.6%

Fee withdrawal:

Market Value Adjustment

Yes

Return Of Premium

Minimum Contribution

$20,000

Maximum Contribution

$1,000,000

Max Age Qualified

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 Bonus 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	3.8% Fixed
1-Year S&P 500 PTP Cap	Point to Point Annual	7.75% Cap
1-Year S&P 500 PTP Participation Rate	Point to Point Annual	35% Participation
1-Year S&P MARC 5% ER PTP Participation Rate	Point to Point Annual	100% Participation
2-Year Janus SG Guidance Index Value Lock PTP Participation Rate	Point to Point Biennial	75% Participation
2-Year GS Xenith PTP Participation Rate	Point to Point Biennial	200% Participation
1-Year GS Xenith PTP Participation Rate	Point to Point Annual	150% Participation
1-Year S&P 500 ESG PTP Participation Rate	Point to Point Annual	35% Participation
1-Year S&P 500 ESG PTP Cap	Point to Point Annual	5% Cap

Surrender schedule

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

Hypothetical Projection

Comparison against S&P 500 using current rates

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Investment Amount

Riders

No Riders for American Select 7 Bonus 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

LiquidityBeginning in the second 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:1. 5% of the Contract Value as of the last Contract Anniversary date; or 2. 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.

Company Founded: 1960

Good Rated Company

American Life & Security Corp.

Company Ratings