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DISCONTINUED PRODUCT - Product not available to new enrollees.

The Commodore Distinction II
Product ID: 46

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


1.5%
AM Best:
A
Moody's:
A2
S&P:
A+
11 Years / 9.00%
No





The Annuity Investors Commodore Distinction II accepts flexible, periodic or single Purchase Payments for 403(b), IRA (Traditional, Roth, SEP and SIMPLE), 457 and non-qualified. Contributions can be made through payroll deduction. There are no up front sales charges or administrative fees. Each deposit will have its own 10 year rolling early withdrawal period. The early withdrawal period is based on the number of full years that have elapsed since the date on which the Purchase Payment was applied. After the 10th contract anniversary, no early withdrawal charges will be applied. Early withdrawal period on qualified business will be waived when the owner is age 55 or older, separated from service and has been in the contract for at least seven years.

Select the topics below to expand and view additional product details


A loan endorsement is availible for 403(b) TSA and Govermental 457 contracts. Loans are subject to the terms and conditions of the LOAN APPLICATION AND AGREEMENT FORM (Form TSAL2798). Outstanding loan balances will be deducted from contract values upon surrender or annuitization. Contract loans are issued by Annuity Investors using the contract value as collateral. Minimum loan amount is $ 1,000.

GAFRI will comply with IRS Code to allow distributions from qualified annuity contracts by the required beginning date--April 1 following the calendar year in which the Annuitant reaches 70 ½, or follow the calendar year in which the Annuitant separates from service. If the Annuitant decides to meet the required minimum distribution through annuitization of the contract, then substantially equal payments must be made at least annually. If the Annuitant decides to meet the required minimum distribution other than through annuitization, then, by the required beginning date, the Annuitant will need to take distribution for the calendar year preceding the beginning date.

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 - AILIC will make periodic payments until the death of the primary person on whose life payments are based; thereafter, we will make one-half of the periodic payment until the death of the secondary person on whose life payments are based. The first payment will be paid as of the last day of the initial payment interval.
AILIC will make periodic payments for a fixed period equal to the life expectancy of the person on whose life payments are based. This life expectancy is determined under tables adopted by the Health Care Financing Administration. This option is irrevocable. As of the date that payments begin under this option, this Contract has no value that can be assigned, transferred, surrendered, loaned, commuted or withdrawn. The first payment will be paid as of the last day of the initial payment interval.
AILIC will make periodic payments for at least a fixed period. If the person on whose life payments are based lives longer than the fixed period, then we will make payments until his or her death. The first payment will be paid as of the last day of the initial payment interval.
This option is available at anytime. After the 10th contract year, all remaining surrender charges are waived. There is no Mortality and Expense Charge, Annual Administration Charge or Annual Fee.
Income for a Fixed Period - AILIC will make payments for a fixed period. The first payment will be paid as of the last day of the initial payment interval. The maximum time over which payments will be made by us or money will be held by us is twenty (20) years.
Interest Payments:
AILIC will hold the amount applied for the fixed period you select. We will pay interest on that amount to the payee at the interval you select. The first payment will be paid as of the last day of the initial payment interval. At the end of the period, you may select another option or you may receive the amount then held in one sum.
No

This product does not offer an Annuitization Bonus.
This product does not offer a Persistency bonus.
These rates may change without notice. Contact your provider for the most current rates.



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 9.00%
2 8.50%
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


Surrender Penalty Charge assessed on a "rolling" basis: Surrender Penalty Charge assessed on a "rolling" basis: Each deposit will have its own ten-year rolling early withdrawal period. The early withdrawal charge is based on the number of full years that have elapsed since the date on which the Purchase
Exceptions to the Surrender Charge:
Percent of contract value:
100.00%
Percent of purchase payments:
100.00%
Death:
Yes
Attainment of Age:
55
Nursing Home or Other Medical Expenses:
Yes
Other Restrictions:
Extended care waiver and terminal illness waiver

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