American Legend 7 Plus
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Highlights
American Legend 7 Plus is a fixed-indexed annuity that offers multiple indexed strategies, accepts additional purchase payments, and features early withdrawal charges and market value adjustments that end after seven years.
Available in states:
AL, AZ, AR, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NC, ND, OH, OK, OR, RI, SC, SD, TN, TX, VT, VA, WA, WV, WI, and WY
|
Type
|
Fixed Index
|
|---|---|
|
Term
|
7 Years |
|
Surrender schedule
|
9%8%7%6%5%4%3% |
|
Free withdrawal
|
10% |
|
Market value adjustment
|
|
|
Return of premium
|
|
|
Minimum contribution
|
$10,000 |
|
Types of funds
|
Non-Qualified, IRA, TSA 403b, SEP IRA, IRA-Roth, SIMPLE IRA, 457 plan, Inherited IRA, and NQ Stretch |
Brochure
|
Open brochure |
Allocation Accounts
| Name | Type | Rates |
|---|---|---|
| 1-Year Fixed Account |
Fixed
|
3.15%
Fixed
|
| 1-Year iShares U.S. Real Estate PTP Cap |
Point to Point
Annual
|
7.75%
Cap
|
| 1-Year S&P 500 PTP Cap (7-Year Lock) |
Point to Point
Annual
|
6%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
8.7%
Cap
|
| 1-Year S&P 500 Average DRC 10% PR PTP Participation Rate |
Point to Point
Annual
|
65%
Participation
|
| 1-Year Fixed Account |
Fixed
|
3.25%
Fixed
|
| 1-Year S&P 500 Average DRC 10% PR PTP Participation Rate |
Point to Point
Annual
|
70%
Participation
|
| 1-Year iShares U.S. Real Estate PTP Cap |
Point to Point
Annual
|
8.25%
Cap
|
| 1-Year S&P 500 PTP Cap (7-Year Lock) |
Point to Point
Annual
|
6.25%
Cap
|
| 1-Year S&P 500 PTP Cap |
Point to Point
Annual
|
9%
Cap
|
Surrender schedule
| Year | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
|---|---|---|---|---|---|---|---|
| Penalty | 9% | 8% | 7% | 6% | 5% | 4% | 3% |
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| IncomeSecure | No | 0.95% annually |
| Inheritance Enhancer (Age 50-75) | No | 1.15% annually |
| Inheritance Enhancer (Age 76-85) | No | 1.15% annually |