American Century Freedom Max Growth 3
Current Fixed Rate
5.60%
The American Century Freedom Max Growth 3 is a single-premium MYGA with a three-year rate guarantee. After three years, owners have a 30-day window to fully withdraw, reinvest, or annutitize their full account balance (principal plus earned interest). If no action is taken, a new 3-year guarantee period will begin with a new surrender charge schedule.
This policy offers three unique withdrawal riders. Each will reduce the yearly interest rate by a corresponding percentage amount, but only one can be selected. More information on those below. Interest is compounded daily, and a Market Value Adjustment feature is automatically included in the contract.
Additionally, owners can add the Account Value Death Benefit Rider at purchase. Adding this rider reduces the annual interest rate by .15% and waives any applicable surrender fees or negative MVA amounts upon the owner/annuitant’s passing. Spousal continuance of the policy is allowed at the owner’s passing.
Annuitization is permitted after 12 months. Qualified and non-qualified funds are accepted, including Traditional, Roth, and Inherited IRA accounts.
American Century also offers the American Spirit SPDA 3-year annuity that includes additional liquidity features.
More Annuity options from: American Century Life
Notable Features
This policy offers three different withdrawal riders, but only one can be added to any contract. Adding one of these riders will reduce the yearly interest rate by the corresponding amount. There is a Free Partial Withdrawal Rider (cost = .15%), an Interest-Only Withdrawal Rider (cost = .10%), and a Required Minimum Distribution Rider (cost = .10%) available at onset.
There is also a Death Benefit Rider that can be separately added and is described in more detail above.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
3 Years
Free Withdrawals Yr1 / Yr2+
Optional
Surrender Schedule
9%, 8%, 7%, 0%
Maximum Age
90
Minimum Investment
$5,000
Maximum Investment
$2,000,000 without Home Office approval
What We Like About This Annuity
This policy has low minimums to start, offers a competitive daily compounding interest rate, and can be tailored to maximize growth. Several withdrawal riders are available, and spouses can continue the contract to maturity if the Death Benefit Rider is not elected.
Other Popular Products
American Century primarily focuses on single-premium deferred and multi-year guaranteed fixed annuity policies. While retirement annuities are their flagship offering, they also provide Single Premium Immediate Annuities (SPIAs) and Medicaid-compliant annuity products for estate planning needs.
About American Century Life
American Century Life
AM Best Rating: B++ Good (5th of 13 ratings)
https://aclic.com/
About American Century Life Insurance Company
Founded in 1940, this B++ rated insurance company is domiciled in Columbus, Ohio and its administration is handled in Allen, TX. They serve the individual, family, and business markets, helping with annuity and life insurance needs.
They specialize in multi-year guaranteed annuity accounts. Currently, they offer fixed-deferred, fixed-immediate, and Medicaid-compliant annuities in 44 states across the country. Annuity policies can be obtained through independent insurance agents licensed in your state of residence.