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DISCONTINUED PRODUCT - Product not available to new enrollees.

SingleMax Ten
Product ID: 202

Vendor:
Great American Insurance Group (Annuity Investors Life Insurance Company)
Type:
Equity Indexed Annuity 
Discontinued Discontinued


0%
AM Best:
A
Moody's:
A2
S&P:
A+
11 Years / 10.00%
Yes
Roth Eligible





The Annuity Investors SingleMax Ten will help prepare your retirement with this single premium fixed annuity. This product accepts 403(b) (Traditional and Roth), 457(b), IRA (Traditional, Roth, SEP, SIMPLE, and Inherited) and Non-Qualified. This particular product offers indexed strategies with a bailout feature. This feature allows the client to withdraw money fron an indexed strategy at the end of a term without penalty if the cap for that strategy for the next term is less than the bailout cap for the term that is ending. If the bailout provision is triggered, we will send a letter and give the client 30 days to request a withdrawal fromthat strategy. If a bailout request is made, no MVA or early withdrawal charges apply to the requested withdrawal.

Select the topics below to expand and view additional product details


403(b) annuities comply with the IRS Code to require minimum distributions be made by the required beginning date. The required beginning date is the later of April 1 folloiwng the calendar year that you reach 70 1/2, or April 1 following the calendar year that you retire from employment with your plan's employer. If you decide to take the RMD through annuitization of the contract, then the annuitization payments must begin by the required beginning date with substantially equal payments made at least annually. If you decide to take the RMD as a withdrawal, then the distribution for the calendar year in which you reach age 70 1/2 or retire must be made by the required beginning date, and the distribution for the each subsequent calendar year must be made by December 31 of that year.

Yes

Riders are amendments to the annuity contract that typically add to your costs. make sure you inquire about any additional costs. The following riders exist for this product:

To help ease the strain of certain unforeseen events, an extended care waiver is available for no additional charge. If the owner is confined to a nursing home or other long-term care facility after the completion of the first contract year for at least 90 consecutive days, early withdrawal charges may be waived on withdrawals up to a full surrender. Rider form R6020708NW. Form number may vary according to the state in which a contract is sold.
Provided that the diagnosis is rendered more than one year after the contract effective date, up to 100% of the account value can be withdrawn without deduction of an early withdrawal charge if the owner or joint owner is diagnosed by a physician as having a terminal illness with a prognosis of 12 months or less. This rider may be used only once. Rider form R6019308NW. Form number may vary according to the state in which a contract is sold.
Joint and one-half survivor annuity: Guarantees income for as long as you live. If your joint annuitant (usually a spouse) survives you, your annuity then pays 50% of the periodic payment amount for as long as your joint annuitant lives.
Life Annuity with payments for at least a fixed period: Guarantees income for as long as you live. If you die during the fixed period that you select (usually 10 or 20 years), your annuity pays income for the rest of the period.
The form of payment may be a lump sum, or any available form of settlement option available in the contract.
Income for a fixed period: Pays income for the fixed period of time you select.

Point-to-Point
S & P 500
At issue, the owner selects from three interest strategies: a Declared Rate Strategy, a One-Year Point-to-Point Indexed Strategy and a One-Year Monthly Averaging with Cap Indexed Strategy. Amounts you allocate to the declared rate strategy earn interest at the rate declared by us before the term begins. The declared rate will not change during a one year term. Declared interest is credited daily and compounded annually. Amounts you allocate to an indexed strategy grow through indexed interest, which is determined in part by the change in the S&P 500 (the index change). Indexed interest is credited only on the last day of each term. The term for every strategy is one year.
We limit the effect of a negative change in the index on your account value by applying a base interest rate (floor). The indexed interest rate for a term will never be lower than the floor. This annuity also has a guaranteed minimum surrender value. The GMSV equals Purchase Payments multiplied by the GMSV Factor minus withdrawals and any applicable early withdrawal charge, plus interest at the GMSV Rate, and minus the early withdrawal charge that would apply on a full surrender.

The maximum indexed interest rate that can be credited during a term. These rates may change without notice. Contact your provider for the most current rates.
100.00%
50.00%
It can change every 12 months/1 year


All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact of fees, and the different types of fees please refer to the Explanation of Fees piece located in the Help & Resources.

Surrender Charges

Surrender Period* Surrender Percentage
1 10.00%
2 9.00%
3 8.00%
4 7.00%
5 6.00%
6 5.00%
7 4.00%
8 3.00%
9 2.00%
10 1.00%
11 0.00%

*Expressed in contract years


Exceptions to the Surrender Charge:
Percent of contract value:
10.00%
Percent of purchase payments:
10.00%
Death:
Yes

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