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DISCONTINUED PRODUCT - Product not available to new enrollees.

Savers Advantage 600
Product ID: 72

Vendor:
Athene Annuity and Life Company
Type:
Fixed Annuity 
Discontinued Discontinued


1.5%
AM Best:
A+
Moody's:
A1
S&P:
AA-
7 Years / 9.00%
No





Savers Advantage 600 is a deferred annuity that accepts transfers and rollovers from a variety of qualified plans. Since it has no sales loads or transaction fees, 100% of the premium payments are working for you. In addition to TSA, this product can also accept IRA or nonqualified monies. The minimum initial transfer, rollover or nonqualified premium is $10,000.

Select the topics below to expand and view additional product details


For TSA accounts only, loans are permitted twice per calendar year. The minimum loan amount is $1,000 and the maximum loan, when added to all outstanding loans (if applicable) may not exceed 50% of the contract surrender value or the IRC maximum of $50,000. The net interest cost of the loan is 2.5%. The annuity value will be adjusted by the outstanding loan balance in the event of death, annuitization or surrender. Loans are intented to comply with all provisions of Section 72(p) of the Internal Revenue Code and all Department of Treasury regulations.

Available.

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:

There is no bailout provision. Under the free look provision, the annuity contract may be returned to our home office or sales agent within 30 days of receipt for a full refund of all premiums paid less any withdrawals and loans.
Available.
Available.
Available.
Available.
Available.
Available.
Full or Partial Annuitization:
Full or partial annuitization is available at any time. If the contract is held for a minimum of five years and is annuitized for at least a five-year period, the contract holder may be eligible for a bonus. While this administrative practice is not contractually guaranteed, Aviva has consistently followed this practice in the past and will notify all contract holders in writing should a change occur.
Yes

If the contract is held for a minimum of five years and is annuitized for at least a five-year period, the contract holder may be eligible for a bonus. While this administrative practice is not contractually guaranteed, Aviva has consistently followed this practice in the past and will notify all contract holders in writing should a change occur.
Investment Year Bonus Rate
1 1%
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 8.00%
3 7.00%
4 6.00%
5 5.00%
6 4.00%
7 0.00%

*Expressed in contract years


Exceptions to the Surrender Charge:
Percent of contract value:
10.00%
Percent of purchase payments:
0.00%
Death:
Yes
Nursing Home or Other Medical Expenses:
Yes

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