American Life Classic 3
Current Fixed Rate
5.35%
The American Life Classic 3 (no liquidity) is a single premium, multi-year Guaranteed Annuity with a three-year interest rate guarantee and a Market Value Adjustment provision. A bonus interest payment is credited if no withdrawals are made during the three-year surrender period. The rate below reflects the credited bonus amount.
American Life also offers a version with 10% liquidity in years 2-3 at a lower yearly rate. All contracts include a 30-day renewal window for transfers, full withdrawals, and exchanges.
More Annuity options from: American Life
Notable Features
A second variation of this contract is offered at a lower rate. It includes a 10% free withdrawal rider in years 2-3. Several annuitization options are available before maturity.
Additional Details
Product Type
MYGA (Multi-Year Guaranteed Annuity)
Term
3 Years
Free Withdrawals Yr1 / Yr2+
0% / 0%
Surrender Schedule
9%, 8%, 7%, 0%
Maximum Age
90
Minimum Investment
$1,000
Maximum Investment
$1,000,000 without prior approval
What We Like About This Annuity
This annuity offers higher rates in exchange for no access to the contract value during the three year surrender period. There are no surrender charges at death. Very low minimums to start.
Other Popular Products
American Life specializes in annuities. They offer a popular indexed annuity with a large upfront bonus called the MaxGrowth 10. Their multi-year guaranteed indexed annuity (American Fusion) is also a strong growth product.
About American Life
American Life
AM Best Rating: B++ Good (5th of 13 ratings)
https://www.american-life.com/
About American Life & Security Corp
They were founded in 1960 and are headquartered in Lincoln, Nebraska. In 2018, leadership pivoted to focus on fixed and indexed annuities. They partnered with FAST, an innovative digital platform, to upgrade their technology and simplify the process of buying insurance and annuities.
Their foundations for success include strong management, dynamic culture, technology & innovation improvements, financial strength, and an efficient operating model.