For individuals looking for a simple and secure way to manage their money into retirement, American Life offers the American Classic, a Fixed Deferred Annuity with a Multi-Year Rate Guarantee (MYGA).
The American Classic 5 provides a low-risk and predictable return that is insulated from economic volatility.
The rate is 3.30% guaranteed with the opportunity for a 0.60% bonus for a 3.42% yield to surrender if no withdrawals other than RMDs are taken.
About American Life Annuity
American Life Financial Strength
What Makes Us Different?
The American Classic is the first and only annuity that provides both peace of mind and a Loyalty Bonus, a reward for not making withdrawals during the term.
Keeping the full value in your policy for the entire term saves us money, and we pass that savings on to you.
Other annuities entice customers to sacrifice prudent liquidity features for unplanned future events in exchange for increased yields.
At American Life, we believe it is unfair to force you to make this choice at policy origination.
How Does the American Classic Work?
When you enter into a contract with American Life, you pay an upfront initial premium.
In return, American Life grows that initial premium at a fixed, competitively high-interest rate for a guaranteed number of years.
This provides you with safe, stable, and guaranteed returns.
The interest earned is tax-deferred during the term, meaning you don’t pay income taxes until you make a withdrawal.
This lets your account grow at its full potential.
At the end of the guarantee period, you can choose to either withdraw your initial premium along with your guaranteed return or roll your account into a new product.
The Options and Flexibility You Deserve
You may withdraw up to 10% each year without a penalty.
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.
American Classic offers innovative features like a Loyalty Bonus that rewards you for helping keep our costs low by not using liquidity during the guarantee period.
Benefits of an American Life Fixed Deferred Annuity
Tax-Deferred
Money can grow at its full potential since customers don’t pay income taxes until they make a withdrawal.
Low Risk
Our interest rate is fixed for the guarantee period and won’t change with economic volatility.
Secure
American Life is secure, highly rated (A.M. Best B++), and backed by financially sound business partners.
Loyalty Bonus
Customers are rewarded for not making any withdrawals during the term.
Guaranteed Death Benefit
If a customer dies during the term of the policy, the account value may be withdrawn with no surrender charges. Life Insurance is also an inexpensive way to leave a death benefit for beneficiaries, tax-free.
Retirement Income Planning
If you’re spending the interest from a CD or a fixed annuity to supplement your retirement income, consider a deferred annuity with a lifetime income rider. These annuities would offer a guaranteed income for life (even if the annuity ran out of money), removing the concern of making your money last in retirement and running out of money.
Some lifetime income riders offer a retirement income that increases to keep up with inflation, help pay for long-term care expenses, and offer an enhanced death benefit to help your beneficiaries.
