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DISCONTINUED PRODUCT - Product not available to new enrollees.

FlexMax 14
Product ID: 97

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+
15 Years / 14.00%
Yes
Roth Eligible





The Annuity Investors FlexMax 14 accepts flexible, periodic and single Purchase Payments for 403(b) TSA, 401(a), Pension/Profit Sharing, IRA (Traditional or Roth), Governmental and Non-Governmental 457 and non-qualified. Payments can be paid into the Purchase Payment Account on any business day. Purchase Payments will be moved to selected interest strategies on the 6th and 20th of each month(or the business day preceding if the New York Stock Exchange is closed). Form Numbers: P1405805NW & P1405905NW *Please note: 14-year declining early withdrawal charge schedule starting at 14% for ages up to 55 10-year declining early withdrawal charge schedule starting at 10% for ages 56 and

Select the topics below to expand and view additional product details


A loan endorsement is availible for 403(b) TSA, 401 Pension/Profit Sharing 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.

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 following 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.
The company will make periodic payments for a fixed period equal to the life expectancy of the person 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, the 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.
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 that you select.
Investment Year Bonus Rate
1 2%
2 2%
3 2%
4 2%
5 2%
6 0%

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 14.00%
2 13.00%
3 12.00%
4 11.00%
5 10.00%
6 9.00%
7 8.00%
8 7.00%
9 6.00%
10 5.00%
11 4.00%
12 3.00%
13 2.00%
14 1.00%
15 0.00%

*Expressed in contract years


Exceptions to the Surrender Charge:
Death:
Yes

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