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American Freedom Aspire 7

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Learn how an annuity can provide guaranteed income for life.

The American Freedom Aspire 7 is a flexible premium deferred annuity.
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A fixed annuity offers:
  • Growth with an increasing interest rate
    The American Freedom Aspire 5 offers an increasing interest rate to help build your retirement savings. A base interest rate will be set for each purchase payment you make. Each year during the purchase payment’s five-year term, the interest rate will increase by 0.10%. 
  • Return of premium guarantee
    If the unexpected occurs, you can surrender your American Freedom Aspire 5 without penalty after contract year three. You’ll receive your purchase payments, minus withdrawals and any applicable taxes. 
  • Safety of principal
    Regardless of market conditions, you won’t lose the money you contribute to your annuity unless you take a withdrawal or surrender your contract during its early withdrawal charge period. 
  • Guaranteed retirement income
    When you’re ready to turn the money you’ve accumulated in your annuity into retirement income, you can select from a variety of payout options, including an income stream that will last for the rest of your life. 
Issue ages 
  • Qualified: 0–89 
  • Non-qualified: 0–89 
  • Inherited IRA: 0–75 
  • Inherited non-qualified: 0–75 
Purchase payment
You can purchase this annuity with an initial purchase payment of $2,000 or more. You can add to your annuity at any time with additional purchase payments of at least $2,000. Great American only allows additional premiums to be added as a Lump Sum, Periodic Payments are not allowed.

Penalty-free withdrawals
During the first contract year, you may withdraw up to 10% of your purchase payments. After the first contract year, 10% of the account value on the most recent contract anniversary may be withdrawn. Amounts withdrawn in excess of the penalty-free withdrawal allowance may be subject to early withdrawal charges. 

MYGA Interest Rates

Annual percentage yield (APY)
earned over the investment term
7 years 4.6%

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