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American Classic 3 MYGA (No Withdrawals)

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Minimum Single Premium - $1,000
No maximum -  Premiums over $1,000,000 will undergo additional Home Office review
For owners who are taking RMDs, the annual RMD for the current year should be taken prior to qualified funds transfer to American Life.

Contract Types

Non-qualified; Trusts; IRA – Traditional, Roth & SEP; 401k, 403b as rollovers (no 501c3 or 401a)

Issue Ages
0-90 Renewals up to Age 99

Free withdrawals Years 2+ 10% of Accumulated Value
You may withdraw up to 10% each year without a penalty. Not available until the beginning of the second contract year. Withdrawals of interest prior to age 59 ½ may be subject to a 10% Federal income tax penalty. Withdrawals in excess of the 10% free withdrawal may be subject to contract surrender charges We provide free withdrawals for customers meeting their IRS-mandated Required Minimum Distribution (RMD) and a Guaranteed Death Benefit that allows a full account withdrawal without surrender charges in the event of a policyholder’s death.

Market Value Adjustment (MVA)
Where applicable, MVA is applied on any withdrawals / full surrender in excess of the penalty free or RMD amount during the surrender period. In general, if interest rates (as measured by the index) have increased or have decreased by less than 0.25% (0% in states with no offset), an additional amount is deducted from the withdrawal. Conversely, if rates have fallen by 0.25% or more, an amount will be added to the withdrawal. See the contract for the MVA calculation.

Roth Conversion
American Life Traditional IRA Annuity policyholders now have the option to request full conversion of their policy values to a Roth IRA or just a portion. A partial conversion can be elected as a one time event or as an annual systematic conversion of a requested amount. 
If the request is for a Full Roth Conversion, a Free Withdrawal Amount will not be available on the new Converted Roth IRA policy until the following policy anniversary.
No MVA or surrender charge will be assessed on the conversion amount.

Death Benefit
Remaining Account Value No MVA or Surrender Charge.

On transfers, take RMD at the current carrier to avoid chargeback and surrender charges in Year 1. 0.60% ending balance payable at the guarantee period if no withdrawals other than Required Minimum Distributions.

Enhanced Interest Credit is "first-year interest", 0.45% ending balance payable at the end of the guarantee period if no withdrawals other than Required Minimum Distribution.

MYGA Interest Rates

Annual percentage yield (APY)
earned over the investment term
3 years 5.8%


Name Inbuilt Fee
Enhanced Interest Credit Yes
Enhanced Death Benefit Yes

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